In This Article:
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Sales: Decreased by 4% to EUR538 million from EUR560 million last year.
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EBITDApre: Decreased by 1.7% to EUR86.5 million from EUR88 million last year.
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EBITDApre Margin: Increased to 16.1%.
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Graphite Solutions Sales: Increased by 1.3% to EUR284.2 million from EUR280 million last year.
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Graphite Solutions EBITDApre: Increased by 10.9% to EUR72.2 million from EUR65 million last year.
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Process Technology Sales: Increased by 8.5% to EUR69.9 million.
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Process Technology EBITDApre Margin: Increased to 22.9% from 18.5% last year.
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Carbon Fibers Sales: Decreased by 12% to EUR110.1 million from EUR125 million last year.
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Carbon Fibers EBITDApre: Decreased to minus EUR4.4 million from EUR6.1 million last year.
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Composite Solutions Sales: Decreased by 16% to EUR66.9 million from EUR79 million last year.
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Composite Solutions EBITDApre: Decreased by 34.1% to EUR8.1 million.
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Net Result: Improved by approximately EUR40 million compared to last year.
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Free Cash Flow: Positive at EUR12.4 million, down from EUR20.1 million last year.
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Net Financial Debt: Slight increase to EUR119 million from EUR116 million.
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Leverage: 0.7.
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Equity Ratio: 44.3%.
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ROCE: 11.3%.
Release Date: August 08, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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SGL Carbon SE (SGLFF) reported a healthy EBITDA margin of 16.1% despite a decline in sales, indicating improved profitability.
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Graphite Solutions business unit saw a significant improvement in profitability, driven by growth in the Semiconductor and LED sectors.
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Process Technology unit achieved record sales and margins, with an 8.5% increase in sales compared to the previous year.
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The company maintained a positive free cash flow, demonstrating effective cash management.
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SGL Carbon SE (SGLFF) confirmed its full-year guidance, expecting sales to remain at prior year's level and EBITDApre to be within the guidance corridor, albeit at the lower end.
Negative Points
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Overall sales declined by 4% year-on-year, impacted by currency adjustments and portfolio changes.
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Carbon Fibers business unit experienced a 12% decrease in sales, with negative price trends and overcapacity issues.
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Composite Solutions faced a 16% decline in sales due to the premature termination of a major automotive contract.
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The slowdown in the growth of the silicon carbide segment is expected to impact sales in the second half of the year.
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The company's net financial debt increased slightly, reflecting ongoing investment and spending activities.
Q & A Highlights
Q: What is the expected net impact of down payments in the second half of the year? A: Unfortunately, we can't provide a specific figure as we are still negotiating with customers. The net effect in the first half was EUR7 million, and we expect a lower level of down payments compared to last year. However, the exact amount for the second half is not disclosed.