The recurring EBIT in the business unit Composites – Fibers & Materials (CFM) decreased significantly, whereas business unit Graphite Materials & Systems (GMS) substantially increased its recurring EBIT.
Sales revenue in the business unit CFM at €219.4 million remained close to the prior year level (currency adjusted: minus 3 per cent). Sales revenue in GMS in the first half 2019 increased by 12 per cent (currency adjusted: 9 per cent) to €321.0 million (previous year: €288 million).
"Despite a cooling global economy, demand for our solutions continued to be high, especially in the digitisation, energy and chemicals markets," said Dr. Jürgen Köhler, CEO of SGL Carbon. "As expected, business unit GMS will continue to perform on the high prior year level. Following the weak performance of our CFM business unit during the first half of the year, we have initiated comprehensive measures to improve results. Overall, we confirm our guidance for the fiscal year."
SGL Carbon has confirmed its guidance for the fiscal year 2019 and anticipates a mid-single-digit percentage sales increase which will mainly be volume driven. Group EBIT (before non-recurring items and purchase price allocation) is expected to stabilise on the prior year level, which recorded a substantial increase over 2017.
After a consolidated net profit of approximately €41 million in the fiscal year 2018, the company expects a break-even consolidated net result in the fiscal year 2019. (PC)
Fibre2Fashion News Desk – India