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
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
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).
