SGL Carbon’s First Quarter 2020 Results in Line with Initial Expectations despite Covid-19 Pandemic

May 18 2020

At a glance:

• Group sales revenues at 247 million euros approximately 15 percent below prior year’s level, but slightly above the guidance corridor (220 to 240 million euros) as published in March 2020
• Decline in Group sales due to changes in the lithium-ion battery supply chain in the business unit Graphite Materials & Systems (GMS) as well as restructuring-driven lower sales in Textile Fibers in the business unit Composites – Fibers & Materials (CFM)
• Group recurring EBIT approximately 50 percent below prior year level at 9 million euros and at the upper end of the guidance corridor (mid to high single-digit million euros amount)
• Due to timely implemented measures and in contrast to the usual seasonal pattern, liquidity of approximately 150 million euros as of March 31, 2020 developed very favorably compared to year-end 2019 (137 million euros)
• Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon: “We acted decisively and took various measures at an early stage, both to ensure the safety of our employees and to mitigate the economic impact of the pandemic.”
• Guidance for the full year 2020 remains suspended due to the impacts of the Covid-19 pandemic; decline in Group sales revenue and negative Group recurring EBIT expected for the second quarter 2020

Composites – Fibers & Materials (CFM): Results substantially improved despite lower contribution from the At-Equity accounted investments; anticipated sales decline reflects restructuring-driven decrease in the market segment Textile Fibers

Due to its exposure to the market segments Automotive and Aerospace, which are more than proportionately negatively impacted by the Corona crisis, the reporting segment CFM is significantly affected by the recent developments in these customer industries. However, these developments have not yet materially impacted the first quarter.

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