SGL Carbon SE (SGLFF.PK), a manufacturer of carbon-based products and materials, posted a significant decrease in its profit for the year 2012, hurt by non-cash write-offs, in spite of double-digit growth in sales revenues
The group's profit before tax for the year declined to 9.7 million euros from last year's 83.7 million euros.
Profit for the year fell to 7.2 million euros from last year's 73.2 million euros, primarily due to 54.2 million euros non-cash write-offs in the Business Area CFC on Boeing 787 projects. Basic earnings per share amounted to 0.10 euros, down from 1.09 euros in 2011.
However, Group sales revenue grew 11 percent to 1.709 billion euros from 1.540 billion euros a year ago, mainly due to robust trends at PP and GMS. In addition, the Portuguese acrylic fiber company Fisipe, acquired in fiscal 2012, contributed about 81 million euros to the rise in revenue.
In addition, the group proposes to distribute an unchanged dividend of 0.20 euros to each dividend entitled share for fiscal 2012.
SGL Group said it expects a slight increase in Group sales revenue in fiscal year 2013 compared with 2012, despite economic uncertainty.
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