(05:02 PM) Wiesbaden, February 18, 2025. The Board of Management of SGL Carbon SE today decided, with the approval of the Supervisory Board, to restructure the loss-making business unit Carbon Fibers. SGL Carbon will significantly reduce the business activities of Carbon Fibers and focus on a profitable core. Individual solutions are being developed for all Carbon Fibers sites, including the possible closure of unprofitable sites. The joint venture Brembo SGL Carbon Ceramic Brakes S.p.A. (BSCCB), which is allocated to the Carbon Fibers business unit for accounting purposes, is not affected by the restructuring.
Due to the early stage of the process, no specific information can be provided at this time regarding individual site closures and the exact restructuring period. The goal is to begin the implementation quickly in order to contain the operating losses and the associated impact on the SGL Carbon Group in the short term. A complete sale of the Business Unit Carbon Fibers was intensively evaluated but is no longer considered feasible.
The company is expecting one-time cash effects in the amount of approximately 50 million over the next two years due to the extensive restructuring.
Carbon Fibers, with around 870 employees, produces primarily textile, acrylic and carbon fibers at seven sites in Europe and North America. After the collapse in demand for carbon fibers for the wind industry, the business units sales and earnings fell sharply in the course of fiscal years 2023 and 2024.
Preliminary sales and adjusted EBITDA 2024Based on preliminary figures, Carbon Fibers generated sales of around 210 million (previous year: 224.9 million) in fiscal year 2024. According to preliminary figures, the negatively adjusted EBITDA1 of Carbon Fibers, excluding the contribution to earnings from the joint venture BSCCB, amounted to around minus 27 million (previous year: minus 10.9 million) in fiscal year 2024, as expected.
The continued weak business development of Carbon Fibers also impacts the group. Based on preliminary figures, group sales for SGL Carbon amounted to approximately 1,026 million (previous year: 1,089.1 million) in fiscal year 2024. Preliminary adjusted Group EBITDA of approximately 163 million was slightly below the prior year level (2023: 168.4 million), but in line with the given guidance for 2024. Based on the current economic conditions and forecasts for some of our markets, such as the automotive and semiconductor industries, SGL Carbon expects the market environment to remain challenging in 2025.
Further information on the business development in 2024 and the final financial figures can be found in SGL Carbons annual report, which will be published together with the guidance for the current fiscal year on March 20, 2025.
1 The use of key figures in this release is in line with the definition in the 2023 Annual Report (page 84/85).
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(05:02 PM) Wiesbaden, February 18, 2025. The Board of Management of SGL Carbon SE today decided, with the approval of the Supervisory Board, to restructure the loss-making business unit Carbon Fibers. SGL Carbon will significantly reduce the business activities of Carbon Fibers and focus on a profitable core. Individual solutions are being developed for all Carbon Fibers sites, including the possible closure of unprofitable sites. The joint venture Brembo SGL Carbon Ceramic Brakes S.p.A. (BSCCB), which is allocated to the Carbon Fibers business unit for accounting purposes, is not affected by the restructuring.
