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...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

14/07/2026

Bowling Green State Upgrades Doyt Perry Stadium With New Daktronics LED Display

South end zone videoboard, cloud-based control system will be ready for 2026 football season...

14/07/2026

Mizzou Athletics Launches Connected Digital Platform

Redesigned website, enhanced mobile app unify content, ticketing, and personalized fan engagement...

14/07/2026

DePaul Athletics, Playfly Sports Agree to Multimedia Rights Partnership

Agreement spans sponsorship sales, digital monetization, radio production, and new practice facility naming rights...

14/07/2026

American Association Expands Broadcast Reach Through FanDuel Sports Network Partnership

Independent league adds 14 regional sports network affiliates, growing distribut...

14/07/2026

Euroleague Basketball Introduces Euroleague Basketball+ Digital Ecosystem Initiative

New strategy aims to unify competitions, content, fan engagement, and commercial...

14/07/2026

Professional Fighters League, ESPN Reach Multi-Year Media Rights Deal for Brazil

ESPN and Disney+ become exclusive home of PFL events in key international MMA market...

14/07/2026

TEGNA Names Scott Gill VP of Technology and Operations

Gill will oversee engineering, technology, and sports operations across the company's 64 local television stations...

14/07/2026

Guest Post: Dynamic Media Facilities Could Reshape the Future of Broadcast Workflows

Submitted by North American Broadcasters Association (NABA) As broadcasters con...

14/07/2026

Bayerischer Rundfunk Debuts Fully Software-Defined SMPTE ST 2110 Radio OB Van Built Around Lawo Technology

Modernized mobile unit combines HOME Apps, mc 56 console, and IP infrastructure ...

14/07/2026

Scripps Sports, ION Secure U.S. Rights to 2027 FIVB Womens Volleyball World Cup

Every match of the 32-team tournament will air across ION and Scripps Sports platforms in English and Spanish...

14/07/2026

FloSports Lands Exclusive U.S. Rights to IIHF Mens World Championship Beginning in 2027

FloHockey to stream every game of the annual international tournament under four...

14/07/2026

Minnesota Lynx Add Three Games to KARE 11s Over-the-Air Schedule

Victory+ telecasts to be simulcast on TEGNA-owned station, expanding free local distribution...

14/07/2026

Avalanche Tones debut with Chainsaw Suite

Plug-ins for heavy music Avalanche Tones is the brainchild of Ava Toton, a 17-year-old musician and developer who says her goal is to make the lives of gui...

14/07/2026

IK Multimedia introduce ReSing Voices Brazilian Pack

Launched alongside new Singer Showcase purchase model IK Multimedia's innovative vocal-synthesis software has just gained its latest voice add-on, the R...

14/07/2026

MIDI Innovations Awards 2026

Registration open until 1 September 2026 The MIDI Association have revealed that the registration deadline for this year's MIDI Innovation Awards has no...

14/07/2026

Launchkey MK4 88 joins Novation line-up

88-note model completes MK4 range Novation have just introduced the final model in their flagship MIDI controller keyboard range, the Launchkey MK4 88. Roun...

14/07/2026

CBS Atlanta Adds a Noon Newscast

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

Tegna Names Scott Gill VP, Technology and Operations

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

Colorado Wildfires Bring Close Call for Broadcasters

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

IBC2026 sets conference agenda

IBC2026 has unveiled a powerful Conference programme bringing together global media leaders, technology innovators, creators, sports organisations, broadcasters...

14/07/2026

Nominations for Best of Show Awards at IBC2026 Now Open

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

Broadcast Solutions delivers industry-first software-defi...

Broadcast Solutions, a leading systems integrator and provider of innovative solutions for the broadcast media industry, has delivered two highly capable outsid...

14/07/2026

UPDATED: Scripps, DirecTV End Blackout, Ink New Retrans Deal

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

12 States Sue to Block $110 Billion Warner Bros./Paramount Merger

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

Heidi Raphael to Head N.Y. State Broadcasters Association

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

CBS Atlanta Expands Live Local News Programming

Share Copy link Facebook X Linkedin Bluesky Email...

14/07/2026

Techtel Successfully Relocates AICD Broadcast Studio to New Sydney Headquarters

Techtel Successfully Relocates AICD Broadcast Studio to New Sydney Headquarters BroadcastBroadcast EquipmentLive StreamingBroadcast Studio2026 14 July Writ...

14/07/2026

First look revealed for Friday the 13th prequel, Crystal Lake, from A24 coming to Sky and NOW in the UK and Ireland this October

Tuesday 14 July 2026 First look revealed for Friday the 13th prequel, Crystal ...

14/07/2026

Surround Is Still the Standard

When immersive audio dominates industry headlines, it's easy to assume that every broadcaster is preparing for an Atmos future. The reality is quite differ...

14/07/2026

Fresh Thinking from MAD//Fest London 2026

Emma and Sophie from ICG's marketing team joined thousands of fellow marketers, brands and agencies at MAD//Fest London 2026, one of the UK's biggest ma...

14/07/2026

Seven paradoxes shaping the next era of media production - Episode 3

Why Trusted and Secure Media Operations Matter In this series, we explore the technologies, architectures and operational realities shaping modern media operati...

14/07/2026

How Merchants Can Prepare for the Next Evolution in Digital Commerce

Pilot Project Shows How Retailers Are Prepared for the Next Step in the Evolution of Digital Commerce Arvato Systems Drives Agentic Commerce Forward G terslo...

14/07/2026

Building a more sustainable future - Our commitment to climate action

As part of this commitment, weve joined the SME Climate Hub, publicly pledging to: measure our greenhouse gas emissions reduce them in line with a net zero p...

14/07/2026

Why Performance per Watt Is the Ultimate Metric for AI Infrastructure Efficiency

Power is AI infrastructure's inescapable constraint. How many tokens an AI factory can generate within a fixed power budget determines its revenue and profi...

13/07/2026

BravesVision GM Jeff Cravens on Launching MLB's Newest Team-Owned Network in 35 Days

The Braves opted to keep production in-house rather than hand it off to MLB...

13/07/2026

Behind The Mic: Adam Schefter Signs Multi-Year Extension with ESPN

Behind The Mic provides a roundup of recent news regarding on-air talent, including new deals, departures, and assignments compiled from press releases and repo...

13/07/2026

Eurovision Sport and European Athletics Bring Live Athletics to More Fans with Multilingual AI Commentary Initiative

Eurovision Sport is making live athletics more accessible to fans than ever befo...

13/07/2026

Milwaukee Bucks Return to Full-Season Over-the-Air Television for First Time in 31 Years

The Milwaukee Bucks will return to full-season over-the-air television for the 2...

13/07/2026

SMPTE Expands Education Offerings with Connected Learning Path for IP Media Workflows

SMPTE has announced an expanded education pathway for media technology professio...

13/07/2026

Vizrt Graphics Power Netflix MVP MMA Event at Intuit Dome

Vizrt has announced that its graphics technology was used by broadcast design agency Girraphic for Netflix's debut MVP MMA event, broadcast live from the In...

13/07/2026

ARRI To Sell Global Rental Business to H2 Equity Partners in Management Buyout

ARRI has announced an agreement to sell its global rental activities in Europe, the United Kingdom, and North America to H2 Equity Partners through a management...

13/07/2026

DAZN and Premier Boxing Champions Announce Global Broadcasting Partnership

DAZN has announced a partnership with Premier Boxing Champions (PBC) to bring PBC fight nights to DAZN subscribers globally. The partnership begins Saturday, Ju...

13/07/2026

TikTok and WSC Sports Partner To Connect Sports Rightsholders With Content Creators

TikTok and WSC Sports have announced a strategic partnership that gives sports r...

13/07/2026

Ross Video Powers MLB All-Star In-Venue Production for Seventh Consecutive Year

Two new Ross products -Brushback: Full Count and CapGo - are debuting at Citizens Bank Park All-Star festivities...

13/07/2026

MSG Networks Jackie Lyons on Knicks Title Run Coverage, XR Studio Launch, and RSN Production Strategy

MSG Networks' was given exclusive access during the Knicks' unforgettabl...

13/07/2026

Sundance Institute Announces 2026 Producers Labs Fellows

LOS ANGELES, July 13, 2026 - Sundance Institute today announced the 10 producers selected to participate in its annual Producers Labs taking place July 13-18 fo...