Sony Pixel Power calrec Sony

SGL Carbon's business performance after nine months confirms the announced stabilization and investment year

02/11/2023

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
LINK: https://www.sglcarbon.com/en/newsroom/news/press-report/sgl-carbons-bu...
See more stories from sgl

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

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

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

27/08/2026

ESPN Adds College Football Saturdays to Disney+ This Fall

ESPN and Disney are launching College Football Saturdays, adding two college football games per week to Disney for U.S. subscribers as part of their existing ...

27/08/2026

IBC 2026: Zixi to Showcase Live Video Platform and Broadcaster v19

Zixi will exhibit at IBC2026 (Hall 5, Stand 5.A76, RAI Amsterdam, September 11-14), demonstrating the Zixi Platform and the latest release of Zixi Broadcaster, ...

27/08/2026

NDI Surpasses 1.2 Million Hardware Nodes as IBC2026 Showcase Expands

NDI has announced that its ecosystem has surpassed 1.2 million NDI-enabled hardware nodes worldwide, spanning products from more than 200 hardware brands across...

27/08/2026

Clear-Com FreeSpeak Cell Trialed During Rio Carnival Before Commercial Launch

Clear-Com conducted a pre-launch field trial of FreeSpeak Cell during Carnival 2026 in Rio de Janeiro, in partnership with Brazilian systems integrator Savana C...

27/08/2026

IBC 2026: BVH SportsBox Remote Mixer Becomes Reality

BHV returns to IBC 2026 with an important milestone for its own SportsBox: the broadcast industry's smallest remote vision mixer and format processor has mo...

27/08/2026

TOGETHXR and Snapchat Announce Second Snap the Gap Athlete Cohort

TOGETHXR and Snapchat have announced the second cohort of their Snap the Gap content creator program, welcoming nine athletes as Snap Stars. The program provide...

27/08/2026

CNBC UK Selects MediaKind Beam for Live News Infrastructure

MediaKind has announced that CNBC UK has selected Beam to modernize its contribution and distribution infrastructure for live broadcast operations. The deployme...

27/08/2026

Monitor Engineer Chris Dwight Deploys Sennheiser Spectera on Puscifer and A Perfect Circle Tours

Monitor engineer Chris Dwight has deployed Sennheiser's Spectera wideband bi...

27/08/2026

IBC 2026: Telestream Expands UP Platform

Telestream has announced an expansion of its UP cloud-native platform, adding capabilities for orchestrating Telestream services, third-party technologies, and ...

27/08/2026

Swerve TV Signs Multi-Year Partnership with GLORY Kickboxing

Swerve TV has signed a multi-year partnership with GLORY Kickboxing, bringing live GLORY events and library programming to Swerve Combat, Swerve TV's free a...

27/08/2026

AFP and Dalet Integrate AFP Content Into Dalet Flex Newsroom Workflow

Dalet has announced a new integrated content experience with Agence France-Presse (AFP) in Dalet Flex, designed to bring AFP's editorial metadata into the p...

27/08/2026

IBC 2026: Grass Valley to Demonstrate Integrated Live Production Environment

Grass Valley will demonstrate an integrated live production environment at IBC2026 (Booth 9.A01, RAI Amsterdam, September 11-14), combining K-Frame, Maverik X, ...

27/08/2026

NWSL and Roku Expand Partnership with Sunday Night Streaming Package

The National Women's Soccer League and Roku have announced an expanded partnership, with the Roku Sports Channel becoming the exclusive streaming home of ei...

27/08/2026

Fubo Adds ACC Network Extra and SEC Network+ to Streaming Service

FuboTV has announced the launch of ACC Network Extra (ACCNX) and SEC Network (SECN ) on the Fubo streaming service at no additional cost to subscribers with En...

27/08/2026

Moment Branding: Using Sound to Create More Powerful Fan Experiences

Sports marketers have entered the experiential age. Today, sports teams, leagues, and venues are increasingly using immersive interactions and real world events...

27/08/2026

IBC 2026: MultiDyne to Debut MDoG-8800 12G Fiber Transport Module

MultiDyne will introduce the MDoG-8800 at IBC2026 (Stand 11.C12, RAI Amsterdam, September 11-14), extending its openGear portfolio with a high-density fiber tra...

27/08/2026

IBC 2026: JT-DMF To Host Ask Me Anything' Sessions

The Joint Task Force on the Dynamic Media Facility (JT-DMF), an initiative of AMWA and the EBU, will host a series of informal Ask Me Anything sessions during...

27/08/2026

Homestream Syncs Duke, Auburn and Georgia Tech Football, Basketball Radio Calls to Live TV Broadcasts

Homestream, a mobile app that automatically syncs a team's local radio broad...

27/08/2026

Spikes Under the Lights Brings Collegiate Volleyball to AT&T Stadium in a Made-for-TV Event Built for Scale

A packager for TNT Sports, Kwokman Productions is on hand for the unique event w...

27/08/2026

25 Seasons of New York Yankees on YES Network: The Day 1 Crew Looks Back on a Quarter Century in the Bronx - and Stamford

After more than 3,000 games, five members of YES Network's original staff re...

27/08/2026

Dreamtonics unveil Instrument X orchestral alternative

Physical modelling orchestral instrument announced Following their recent cryptic hints, Dreamtonics have officially revealed the latest addition to their s...

27/08/2026

Apple update the Mac mini & Mac Studio

M5 Ultra-equipped Studio most powerful Mac to date Apple have just announced a design refresh which they say makes the Mac mini fiercer and more versatil...

27/08/2026

Bitwig Studio 6.1 now available

Sampler receivers major upgrades Bitwig's latest DAW update brings some major changes to the Sampler device, kitting it out with new slicing options, tw...

27/08/2026

Arturia release Pure Sub

Designed specifically for hard-hitting modern bass Designed specifically for bass-heavy electronic music, the latest plug-in from Arturia aims to offer an a...

27/08/2026

Gracenote's first DSP integration brings show-level content intelligence to The Trade Desk

Advertisers gain granular CTV targeting and turnkey reporting across eligible in...

27/08/2026

Boland Debuts ST 2110 Option for its 4K HDR Monitors

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Adele Hixon-Day Joins C-SPAN as Chief Development Officer

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Profuz Digital presents intelligent AI workflow orchestra...

Profuz Digital makes a mark by launching a powerful upgrade to its Profuz LAPIS digital media management platform this IBC in Amsterdam at Stand 8.A88. The late...

27/08/2026

DHD to Introduce its Third-Generation Audio Mixing Consol...

DHD.audio has chosen IBC 2026 as the launch venue for what it defines as one of the most radical advances in the companys 30 year history. Every broadcast trad...

27/08/2026

FOR-A integrates with CuePilot for dynamic automated prod...

Direct connectivity between planning, production and graphics for creativity and streamlined workflows...

27/08/2026

New Photoshop innovations bring you more choice and control at every stage of your creative process

New Photoshop innovations bring you more choice and control at every stage of yo...

27/08/2026

First Two Seasons of Vertical Series Vultures Shot on Blackmagic Design Cameras

First Two Seasons of Vertical Series Vultures Shot on Blackmagic Design Cameras Brie Clayton August 27, 2026 0 Comments Director and DoP of Vultures ...

27/08/2026

3Play Media data shows audiences are embracing AI dubbing

For years, the media and entertainment industry has hesitated to use AI-voiced dubbing due to concern for audience experience. New data from 3Play Media, a glob...

27/08/2026

Starfish adds voice synthesis support to Advantage AD in...

Starfish Technologies has announced the forthcoming V9 release of its Advantage AD workstation, adding support for voice synthesis services and giving Audio Des...

27/08/2026

Lightware UBEX Helps Rental Teams Deploy Faster And Saf...

Lightware's UBEX is a powerful AV-over-IP product well suited for rental and staging workflows where systems must be fast to deploy, easy to repurpose, and ...

27/08/2026

Lightware extends TPN platform to 100 endpoints with TPN-...

Lightware has expanded the scalability of its 10G TPN AV-over-IP platform with the introduction of the new TPN-MMU-X100 Matrix Management Unit, enabling systems...

27/08/2026

Federal Appeals Court Blocks Some FCC Political Ad Discount Rules

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Zixi To Demo Hybrid Workflows At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Study: Americans Spend More Time Watching YouTube Than Live TV

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Magewell To Highlight Newly Released Director Plus At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

PlayBox Neo continues to shape the media landscape by ini...

PlayBox Neo Stand 7.C29 IBC2026 - 11 14 September Well-established global specialists in media playout, automation, and streaming solutions, PlayBox Neo ...

27/08/2026

Rise Academy Invites the Industry to Join Race 4 The Futu...

Rise Academy, the broadcast and media skills charity dedicated to delivering practical media technology learning experiences, careers resources and work experie...

27/08/2026

Mediagenix Takes Title Management Beyond the Catalog at I...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, will showcase the latest evolution of its ...

27/08/2026

Screen Australia opens applications for Global Fellowships Program

Screen Australia opens applications for Global Fellowships Program 27 August 2026 Applications are now open for the Screen Australia Global Fellowships progra...

27/08/2026

Sir Grayson Perry and Rebecca Lucy Taylor (aka Self Esteem) to host the third annual Sky Arts Awards at the Roundhouse on 13 October

Thursday 27 August 2026 Sir Grayson Perry and Rebecca Lucy Taylor (aka Self Est...

27/08/2026

Riedel Evolves Leadership and Global Go-to-Market Organization

Wuppertal August 27, 2026 Riedel Evolves Leadership and Global Go-to-Market OrganizationRiedel Communications is strengthening its leadership and global go-to...

27/08/2026

Exciting updates for Sneaky Sasquatch come to Apple Arcade - UPDATE - Posted on 27 August 2026

More Sasquatch, more fun: Today, the sneakiest crossover of the summer lands exc...