
Due to the better-than-expected sales and earnings development of the business units Graphite Solutions, Process Technology and Composite Solutions, SGL Carbons consolidated sales for the first nine months amounted to 821.7 million (9M 2022: 853.9 million) and were only slightly (3.8%) below the previous years level. As a result, the continued weak business development of the Carbon Fibers unit can almost be compensated at group level. Accordingly, the adjusted EBITDA of the Group also decreased only slightly by 4.5% to 130.0 million (9M 2022: 136.1 million).
Graphite Solutions (GS) is the Groups largest sales driver after nine months in 2023 with a 9.4% increase in sales to 418.4 million (9M 2022: 382.5 million). The rise in sales is based on business with customers from the semiconductor industry and here in particular on the high demand for graphite components for the silicon carbide-based semiconductor business. Overall, sales in the Semiconductor and LED market segment rose by 38.5% to 189.0 million in the first nine months of 2023.
The two business units Process Technology (PT) and Composite Solutions (CS) developed above expectations. With an increase in sales of 24.3%, PT contributed 95.7 million and CS 114.3 million (+3.0%) to the groups sales. CS was able to fully compensate the loss of sales due to the divestment of the business in Gardena (USA). Overall, the sales of the three business units GS, PT and CS increased by 57.9 million in a nine-month comparison. In contrast, sales and result of the Carbon Fibers (CF) business unit declined. Due to the continued insufficient demand from the wind industry, CFs sales decreased by 89.4 million or 33.2% to 179.6 million (9M 2022: 269.0 million). In the previous year, CF still benefited from the profitable automotive business in the first six months before the i3 contract ended as planned in the first half of 2022.
Earnings situation
The sales development is also reflected in SGL Carbons adjusted EBITDA (EBITDApre). Compared to the first nine months of the previous year, adjusted EBITDA was 4.5% lower at 130.0 million (9M 2022: 136.1 million). The development of the adjusted EBITDA of GS, PT and CS had a positive effect, whereas CF burdened the earnings development.
Changes in volume and product mix led to a stronger increase in adjusted EBITDA at GS of 18.5% to 99.5 million (9M 2022: 84.0 million) compared to sales growth (+9.4%). PT also performed positively, with adjusted EBITDA more than doubling to 17.0 million (9M 2022: 7.5 million). CS also made a positive contribution to the Groups adjusted EBITDA with an increase of 1.8 million (+12.2%) to 16.6 million (9M 2022: 14.8 million). On the other hand, the adjusted EBITDA of CF decreased significantly from 42.7 million to 3.2 million after nine months in 2023. Due to the lack of demand from the wind industry, the production capacity utilisation of CF dropped, so that production capacities had to be reduced and idle capacity costs burdened the result.
Taking into account depreciation and amortisation of 43.3 million, adjusted EBIT (EBITpre) after nine months amounted to 86.7 million (9M 2022: 92.2 million). The one-off effects and non-recurring items not included in the adjusted EBIT in the first nine months totalled minus 47.2 million, of which 44.7 million resulted from the impairment in the CF at the end of the first half of the year. EBIT decreased accordingly from 100.0 million to 39.5 million.
Including the slightly weaker financial result of minus 24.7 million (9M 2022: minus 22.7 million) and the income tax of 9.0 million (9M 2022: 7.8 million), the consolidated result for the first nine months 2023 amounts to 5.3 million (9M 2022 70.6 million).
Net financial debt and equity
Based on the re-financing completed in the 2nd and 3rd quarters of 2023, including the issuance of a convertible bond ( 118.7 million), the drawdown of an existing term loan ( 75 million) and the early repayment of the corporate bond (outstanding nominal value 240.0 million), financial debt (nominal) decreased to 316.0 million as at 30 September 2023 (31.12.2022: 398.1 million). Including cash and cash equivalents of 149.4 million, net financial debt also decreased slightly by 2.5% to 166.6 million (31.12.2022: 170.8 million).
Free cash flow after nine months in financial year 2023 amounts to 35.0 million and is significantly higher than the previous years figure ( 22.7 million). This was achieved despite investments of 59.1 million, which far exceeded depreciation and amortisation, and which SGL Carbon primarily used to expand production capacities for graphite components used in the semiconductor industry. Besides internal funding, customer prepayments were used for this investments, of which almost 40 million were collected already in the current financial year and are to be used quickly for further capacity expansion.
Despite the impairment in Carbon Fibers of 44.7 million in H1 2023, shareholders equity increased slightly to 599.1 million as at 30 September 2023 (31.12.2022: 569.3 million). This corresponds to an equity ratio of 42.5% (31.12.2022: 38.5%).
Based on the business performance in the first nine months 2023 and the currently prevalent market environment, SGL Carbon confirms its sales and earnings forecast 2023 and expects adjusted EBITDA to be rather at the lower end of the given range. Following strong sales and earnings growth in the last two years, the company had forecasted Group sales at the previous years level and adjusted EBITDA (EBITDApre) between 160 million and 180 million for the stabilisation and investment year 2023.
Further details on business development and outlook can be found in the Group interim statement on the first nine months of 2023.
Key figures of the third quarter 2023
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
13/08/2026
LaLiga has renewed broadcast agreements with ESPN and DSports covering Spanish-l...
13/08/2026
Three days of skateboarding competitions, live music, and other programming will...
13/08/2026
Matrox Video will showcase its portfolio of IP and software-defined technologies at IBC2026 (Booth 7.B15, RAI Amsterdam, September 11-14).
The portfolio includ...
13/08/2026
SMPTE will present expert-led sessions, professional workshops, and networking events at IBC2026. The organization will be located in the IBC2026 Owner Pavilion...
13/08/2026
Clear-Com will exhibit at IBC2026 (Stand 10.D29, September 11-14, Amsterdam), showcasing FreeSpeak Cell, Avalon IP Station, updates to Arcadia Central Station, ...
13/08/2026
Advanced Systems Group (ASG) has appointed Eran Binyamin Zeitoun as Senior Techn...
13/08/2026
Miami HEAT, Florida Panthers, Orlando Magic, University of Miami join leading vendors for a day of gameday-production talk in South Florida
The 2026 SVG Venues...
13/08/2026
NBC Sports is producing the Twins-Phillies game alongside the streamer, which is...
13/08/2026
Oracle Cloud Infrastructure (OCI) will exhibit at IBC2026 (Hall 5, Booth 5.A21, September 11-14, Amsterdam), demonstrating cloud-based workflows across low-late...
13/08/2026
Dalet will participate in the IBC2026 Accelerator Media Innovation Programme, co...
13/08/2026
Cox Media Group (CMG) has announced multi-year local broadcast rights agreements...
13/08/2026
J nger Audio will join Fraunhofer IIS and industry partners to showcase a cloud-based, DTV+-compliant workflow at SET Expo 2026 in S o Paulo, August 17-20. DTV+...
13/08/2026
IBC has announced that Olympic Broadcasting Services (OBS) will receive the Inte...
13/08/2026
NESN has partnered with WSBK-TV38 to broadcast Boston Red Sox games on August 17 and 18 over the air, extending the reach of the 24th annual WEEI/NESN Jimmy Fun...
13/08/2026
LiveU and Panasonic LUMIX have announced the Live Anywhere workflow, demonstrated at NAB 2026 and InfoComm 2026 in collaboration with Social180Group. The work...
13/08/2026
Chyron will demonstrate its sports analysis, graphics, remote production, virtual production, and venue control solutions at IBC2026 (Booth 7.A23). This year...
13/08/2026
Ratings Roundup is a rundown of recent ratings news and is derived from press re...
13/08/2026
Season tips off Oct. 20 and runs through April 11; Christmas Day, NBA Cup, All-S...
13/08/2026
Company preview bio-interactive' synthesizer
VAEMI have announced the upcoming launch of a new standalone bio-interactive' generative synthesizer....
13/08/2026
Plug-in host gains new Slot Scenes feature
Ravine DSP have recently updated their innovative plug-in host, kitting it out with a new feature that brings yet...
13/08/2026
New Agreement Aims to Leverage Gracenote Infrastructure to Create More Relevant ...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
IBC today announced that its most prestigious honour, the International Honour for Excellence (IHFE), will be presented to Olympic Broadcasting Services (OBS), ...
13/08/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced its participation in the IBC2026 Accelerator Media Innovation Pro...
13/08/2026
dzjinius, the all-in-one production management platform for the media and entertainment industry, will showcase its new application, dzjinius on-set , at IBC20...
13/08/2026
Broadcasting Center Europe (BCE), a leading European provider of media services, system integration and product development, will demonstrate an end-to-end sove...
13/08/2026
Clear-Com is returning to IBC 2026, taking place September 11-14 in Amsterdam, Netherlands. At Stand 10.D29, Clear-Com will spotlight the award-winning FreeSpe...
13/08/2026
Test & measurement innovator, Leader Electronics of Europe, will showcase its comprehensive portfolio of Leader, PHABRIX and LeaderPhabrix test and measurement ...
13/08/2026
KRK Brings Advanced Wireless Control to Professional Monitoring With New V Serie...
13/08/2026
Anthony Noack Captures Artist's Journey in Estonia with Blackmagic Design
Brie Clayton August 12, 2026
0 Comments
Solo filmmaker documents concept...
13/08/2026
ARRI Image Science makes its mobile debut in the HONOR Robot Phone
Brie Clayton August 12, 2026
0 Comments
Hero image displays the HONOR Robot Phone, ...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/08/2026
Suitest's Test Automation Platform Simplifies Video Quality Assurance, Monitoring, and Device Certification Across the OTT Ecosystem
At IBC2026, Suitest, a...
13/08/2026
Cinegy GmbH, the premier provider of software-defined television technology, will have its key software solutions ready to demonstrate at SET Expo 2026 (18 20...
13/08/2026
Scripps Research has established the Peter K. Vogt Endowed Chair, a new faculty ...
13/08/2026
LA JOLLA, CA-A vaccine's molecular structure plays a key role in determining how the immune system responds and prepares to protect the body from future exp...
13/08/2026
Venera Technologies Showcases AI-Powered Innovations Across its Media QC Platfor...
13/08/2026
New U and U&W Documentary Features Kathleen Richards, One of the Last Surviving Witnesses to Fred and Rose West
Kathleen is Reunited with Childhood Friend and ...
13/08/2026
Thursday 13 August 2026
Official trailer released for the return of Tea with Ju...
13/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
13/08/2026
Wenvoe serves over 1 million people across South Wales
13 August 2026, Winchester, UK - Vale of Glamorgan MP, Kanishka Narayan, has praised the engineering exp...
13/08/2026
RT 's Miriam O'Callaghan welcomed a range of specially invited guests to the National Concert Hall last week for a unique event to mark a new season wit...