![](//www.4rfv.com/images/no_image.jpg)
SGL Carbon demonstrated the resilience of its business model in a challenging market environment and was again able to improve sales and earnings in fiscal year 2022 following 2021. All four business units contributed to this success.
Sales in fiscal 2022 increased by 12.8% year-on-year to 1,135.9 million (previous year: 1,007.0 million). The rise in sales was mainly due to both volume effects and the successful implementation of pricing initiatives to compensate higher raw material, energy and transport prices. At 23.4%, adjusted EBITDA (EBITDApre) improved at a higher rate than sales and amounted to 172.8 million in fiscal 2022 (previous year: 140.0 million). Increased sales and the associated higher capacity utilization also contributed to the improvement in earnings, as well as focusing on market segments with higher margin potential.
We also delivered in 2022. The sales and earnings figures for 2022 confirm the successful transformation of our SGL Carbon. In the last two years, we increased our sales by 23.5% and even improved our EBITDApre by 86.2%. EBITDApre margin in 2022 is 15.2%. As a result, we have almost achieved our medium-term targets for 2025 set in 2020 by the end of 2022. A great success for the entire SGL workforce, says CEO Dr. Torsten Derr.
Earnings development of SGL CarbonThe increase in EBITDApre by 32.8 million to 172.8 million was mainly driven by the Graphite Solutions business unit (+ 30.6 million). The Composite Solutions (+ 7.9 million) and Process Technology (+ 5.2 million) business units also contributed to the improvement in profitability. Although the Carbon Fibers business unit was able to offset the loss of a lucrative supply contract with an automotive customer in terms of sales with new orders from the wind energy sector, but these sales showed a significantly lower margin level. Accordingly, EBITDApre of this business unit decreased by 11.2 million to 43.2 million (previous year: 54.5 million).
Taking into account net one-off effects and non-recurring items of 8.9 million (previous year: 30.7 million) and depreciation and amortization of 60.8 million (previous year: 60.3 million), reported EBIT amounted to 120.9 million (2021: 110.4 million). This corresponds to an increase of 9.5%.
As a result of the pleasing business performance, the successes of the transformation and non-operating one-off effects and non-recurring items ( 8.9 million), a positive Group's net profit of 126.9 million (previous year: 75.4 million) was achieved in 2022. It should be noted that consolidated net income includes tax income of 31.3 million (previous year: minus 6.2 million). This development is mainly due to valuation adjustments on deferred tax assets amounting to 41.8 million, based on the good business development combined with positive earnings prospects in the USA. Current tax expenses amounted to 11.4 million in 2022 (previous year: 11.9 million).
Net financial debt and equityIn fiscal 2022, net financial debt was reduced significantly by 17.2% to 170.8 million compared with the end of 2021 ( 206.3 million). The main reason for the decrease is the repayment of financial liabilities in the amount of 29.0 million. Free cash flow decreased from 111.5 million to 67.8 million in 2022. In this context, it should be taken into account that in the previous year, free cash flow included cash inflows of 30.6 million from the sale of land not required for operations.
After 2021, the equity ratio increased again to 38.5% at the end of 2022 (previous year: 27.0% I 2020: 17.5%). Due to the significantly improved earnings situation, the return on capital employed (ROCE) also rose from 8.0% in the previous year to 11.3% in 2022.
In fiscal year 2022, we further improved SGL Carbons financial structure. As a result of the reduction in net debt, the leverage ratio at the end of 2022 was 1.0, compared to 1.5 as of December 31, 2021. We are particularly proud of the early refinancing of our convertible bond in September 2022. The fast placement of the new convertible bond in a volatile market environment has shown that investors trust us again. This is also evidenced by the upgrade of Moodys Corporate Family Rating from B3 to B2 at the beginning of this year, explains Thomas Dippold, CFO of SGL Carbon.
Development of the business unitsAs the largest business unit with a share of Group sales of around 45%, Graphite Solutions contributed 512.2 million to Group sales in 2022 (previous year: 443.6 million). The 15.5% increase in sales is based in particular on the positive development of the important market segments Semiconductor & LED and Industrial Applications. Compared to the previous year, sales to customers in the semiconductor & LED industry increased by 49.6%, driven in particular by increasing demand of materials and components for the production of silicon carbide-based high-performance semiconductors. Combined with the increase in sales, GS EBITDApre improved by 34.8% to 118.5 million (previous year: 87.9 million). Accordingly, the EBITDApre margin increased from 19.8% to 23.1%. Volume effects due to higher sales as well as margin effects from the product and customer mix had a positive impact. Especially the higher sales with customers from the semiconductor industry should be taken into account.
In fiscal 2022, the Process Technology(PT)business unit benefited from the good order situation in recent months and increased its sales by 21.9% to 106.3 million. The main clients of the PT business unit are customers from the chemical industry. The positive development of PT is also reflected in EBITDApre which rose from 4.7 million in the same period of the previous year to 9.9 million. Higher capacity utilization and the successful passing on of increased raw material costs led to an improvement in the EBITDApre margin from 5.4% to 9.
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
27/07/2024
CLEVELAND Telos Alliance has introduced StudioCore and StudioEdge both members of the company's Axia lineup of AoIP studio consoles and accessories....
27/07/2024
NEW YORK The saga for rights to NBA games continues, with Warner Bros. Discovery filing a lawsuit in state court in New York against the NBA. The lawsuit claims...
27/07/2024
NEW YORK While YouTube recently reported slower than expected growth in its ad revenue for Q2 2024, a new survey indicates that many advertisers still have a re...
27/07/2024
QuickLink StudioPro 4K Video Production Platform to Make its IBC 2024 Debut
Brie Clayton July 26, 2024
0 Comments
QuickLink, the leading global provid...
27/07/2024
Amazon Prime Video said that global viewership for its superheroes gone bad series The Boys grew by 20% from Season 3....
27/07/2024
Dermot Mulroney has been cast as Chief Dom Pascal in the upcoming season of Chicago Fire on NBC. Season 13 begins September 25....
27/07/2024
The Hispanic TV Summit, which happens September 11 in New York and is presented by Next TV, Broadcasting+Cable and Multichannel News, will give out awards to th...
27/07/2024
Media companies like to warn marketers about the perils of cutting their ad spending, and they may have a cautionary tale in Pepsi, which slid into third place ...
26/07/2024
by Ianeta Le'i
I honestly don't remember the first time I met Bryson Ch...
26/07/2024
(L-R) Louise (Karen Gillan) and Antonina (Margaret Sophie Stein) strike up an un...
26/07/2024
Last month, Spotify's annual Songs of Summer predictions made their return, ...
26/07/2024
Summer is peak season for some of our favorite sports and events. Whether you're rooting for the home team at the ballpark or cheering for your country as i...
26/07/2024
Nine talented young professionals completed their vocational training at SGL Carbon in Meitingen from the beginning of June to mid-July, achieving an overall gr...
26/07/2024
Orders1 of $5.2 billion; book-to-bill of 1.0x
Revenue of $5.3 billion, up 13%
...
26/07/2024
(Editor's note: TVTech reached out to several station groups to determine the impact of the CrowdStrike outage on operations. Many, including NextStar Media...
26/07/2024
NEWPORT BEACH, Calif. Bitcentral has integrated Pixalate's ad fraud protection, privacy and compliance analytics solution Post-Bid Analytics and Reporting i...
26/07/2024
Aldous Huxley's classic novel Brave New World is a science fiction thriller set in a murky future with a highly ordered society. While Huxley and other sc...
26/07/2024
Hollyland Adds Pyro 7 All-in-one Video Monitor, TX and RX to Pyro Series
Brie Clayton July 26, 2024
0 Comments
Seven-inch 2.4/5GHz wireless monitor wi...
26/07/2024
Geddy Lee Asks Are Bass Players Human Too? Graded Using DaVinci Resolve Studio
Brie Clayton July 26, 2024
0 Comments
Blackmagic today announced that t...
26/07/2024
Another reminder of the popularity of ad-supported connected TV comes in a survey by Premion and Advertiser Perceptions which found that 61% of the marketers th...
26/07/2024
Nielsen's Gracenote unit said it is selling its metadata about the content of television shows and movies for use in targeting connected-TV advertising camp...
26/07/2024
CBS premieres 13 Days in Ferguson, a special about the aftermath of a police shooting of a young Black man in 2014, on Friday, August 9. The special features Ce...
26/07/2024
Disney and Warner Bros. Discovery announced the launch of their long-awaited premium streaming bundle for the United States. For $16.99 per month, subscribers w...
26/07/2024
It provides multi-voltage output (14.4V, 28V, and 48V) through two XLR4 outputs and one XLR3, offering power to cameras, monitors, and lighting equipment
By Je...
26/07/2024
The lawsuit submitted by investor Scott Baker claims the deal would cost Paramount shareholders $1.65 billion
By Jenny Priestley
Published: July 26, 2024
...
26/07/2024
Florida-based Video Village Miami provides on-set video assist for local commercials and music videos. Frank Collins established the outfit in 2019 after a 20-y...
26/07/2024
QuickLink, the leading global provider of multi-camera video productions and remote contribution solutions, will present QuickLink StudioPro at IBC 2024 (Stand ...
26/07/2024
Relo Metrics (formerly GumGum Sports), the leading AI-powered sponsorship analytics platform for real-time data decisions, today launched an industry-leading in...
26/07/2024
Anton/Bauer, a leading provider of mobile power systems for the film and television industry, has announced the launch of the VCLX LI 1600. The latest evolution...
26/07/2024
Bitcentral, the leading provider of professional media solutions for broadcast and digital video, today announces that it has integrated Pixalate, the ad fraud ...
26/07/2024
Cobalt Iron Inc., a leading provider of SaaS-based enterprise data protection, today announced that Secure Automated Backup with Compass , a cloud backup-as-a-s...
26/07/2024
VisualOn IBC2024 Exhibitor Preview
Sept. 13-16
Amsterdam
Stand 5.A52
As video streaming consumption surges, service providers face significant challenges wi...
26/07/2024
Quanteec
IBC2024 Exhibitor Preview
Sept. 13-16
RAI Amsterdam
Stand 1.A05
Quanteec, a global provider of video delivery technology for broadcasters, will s...
26/07/2024
Witbe
IBC2024 Exhibitor Preview
Sept. 13-16
Amsterdam
Stand 5.F84
At IBC2024, Witbe will showcase the power of its automated testing and proactive monitori...
26/07/2024
WASHINGTON, D.C. The Federal Communications Commission has announced the launch of its new Mobile Speed Test app. The new app features an enhanced user interfac...
26/07/2024
LONDON In a notable landmark for the use of cloud-based services at the Olympics, Alibaba Cloud and Olympic Broadcasting Services (OBS), has today announced the...
26/07/2024
NEW YORK As part of a $2.5 billion media rights deal with the NBA announced on July 24, NBCUniversal and the NBA have also announced an 11-year agreement for ri...
26/07/2024
BEAVERTON, Ore. Versatile Video Coding (VVC) promises to play a pivotal role in driving advancements in video compression technology, with organizations across ...
26/07/2024
COLUMBUS, Ohio The political news channel PurpleTV has expanded it reach with news that it has launched on Channel 25.1 in Columbus, Ohio on TV Station WXOH, wh...
26/07/2024
NEW YORK As part of a push into the contextual advertising business, Nielsen's Gracenote has announced that it is developing new contextual categories to gi...
26/07/2024
Puget Systems Returns to SIGGRAPH 2024 to Demonstrate its On-Premises Generative...
26/07/2024
Dreamtek Delivers Innovative A/V, Live Production and Post Workflows with Blackm...
26/07/2024
Dejero to bring even smarter' mobile internet connectivity solutions to IBC...
26/07/2024
The 2024 Paris Olympic Games are about to begin, and Capitol Broadcasting is rea...
26/07/2024
Berklee Alumni Nominated for 2024 Emmy Awards Twenty-one Berklee alumni received Emmy nominations this year for music composition, sound mixing, and sound editi...
26/07/2024
Jennifer Lyons, president and general manager of WBBM Chicago, is moving into a ...
26/07/2024
Kennan Oliphant has been named VP of news and station manager at WWJ Detroit. He will report to Jennifer Lyons, who has added a regional GM role that gives her ...
26/07/2024
Charlie Hustle & The Matter of Pete Rose, a four-part docuseries, debuts on HBO and Max July 24. The series details the life of the baseball superstar, includin...
26/07/2024
By Craig Anderton
It's been a while since we've had a post for sound design fans. So, let's create some crazy FX for sci-fi/suspense/horror movies,...