from SGL Carbon AG (isin : DE0007235301)
EQS-Adhoc: SGL Carbon evaluates strategic options for the Business Unit Carbon Fibers
EQS-Ad-hoc: SGL CARBON SE / Key word(s): Miscellaneous
SGL Carbon evaluates strategic options for the Business Unit Carbon Fibers
23-Feb-2024 / 18:11 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SGL Carbon evaluates strategic options for the Business Unit Carbon Fibers
Wiesbaden, February 23, 2024. The Board of Management of SGL Carbon SE decided today to evaluate various strategic options for the second largest Business Unit Carbon Fibers (CF). These also include a possible partial or complete divestment of the Business Unit. In a first step, potential interested parties shall be approached promptly with the business unit's general data and to determine their basic interest in an acquisition. If sufficient interest is expressed, a structured transaction process is to be carried out in a second step. Due to the early stage of the process, it is currently not possible to provide any concrete information on the timeframe for a possible transaction. Overall, a revenue share of around € 179.6 million after nine months in 2023 (9M 2022: € 269.0 million) is therefore under review. The CF sales share corresponded to 21.9% of SGL Carbon's consolidated sales after nine months in 2023 (9M 2022: 31.5%). Adjusted EBITDA1 for the Business Unit excluding the result from joint ventures amounted to minus € 10,9 million after nine months in 2023 (9M 2022: € 27,9 million). Based on preliminary figures, SGL Carbon expects sales of around €225 million for Carbon Fibers in fiscal year 2023 (2022: €347.2 million).
Carbon Fibers produces textile-, acrylic and carbon fibers as well as composite materials at seven locations in Europe and North America. Following the temporary drop in demand for carbon fibers for the wind industry, the Business Unit's sales and earnings fell significantly in the course of the 2023 financial year. Even if demand picks up, the company assumes that Carbon Fibers needs additional resources to remain competitive in the international market environment and to make the best possible use of market opportunities. Against this background, SGL Carbon is evaluating all possibilities to support a positive further development of the Business Unit Carbon Fibers, also outside the SGL Carbon Group.
1 The use of key figures in this release is analogous to the definition in the 2022 Annual Report (page 195).
SGL Carbon SE
Claudia Kellert – Head of Capital Markets & Communications
Soehnleinstrasse 8
65201 Wiesbaden/Germany
Telephone +49 611 6029-106
Fax +49 611 6029-101
investor-relations@sglcarbon.com
www.sglcarbon.com
End of Inside Information
23-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | SGL CARBON SE |
| Söhnleinstraße 8 | |
| 65201 Wiesbaden | |
| Germany | |
| Phone: | +49 (0)611 6029 - 0 |
| Fax: | +49 (0)611 6029 - 101 |
| E-mail: | investor-relations@sglcarbon.com |
| Internet: | www.sglcarbon.com |
| ISIN: | DE0007235301, DE000A30VKB5, DE000A351SD3 |
| WKN: | 723530 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1844375 |
| End of Announcement | EQS News Service |
1844375 23-Feb-2024 CET/CEST