logo
Share SHARE
FONT-SIZE Plus   Neg

SGL Carbon Backs Net Loss Forecast For FY17; Sees Higher Sales - Quick Facts

Carbon products maker SGL Carbon SE (SGLFF.PK) Wednesday said it continues to expect fiscal 2017 consolidated net loss from continuing operations in the
mid-double-digit million range, roughly on the level of the previous year.

The forecast reflects last year's positive one-time effect from the sale of carbon fiber plant in the US. Also, the company will have to pay an early repayment penalty for the intended redemption of corporate bond this year.

According to the company, the net result is not yet expected to reflect our anticipated operational improvements this year.

Further, the company expects all material KPIs to improve in 2017. The firm is optimistic that both sales revenue and earnings will grow.

The company continues to expect sales revenue to increase in the high single-digit percentage range and group EBITDA and adjusted Group EBIT to increase
more than sales revenue, which will be attributable to volume growth and savings generated through CORE project.

The company also said it expects to continue to improve key balance sheet figures significantly by the beginning of 2018.

In October 2016, the company signed an agreement to sell graphite electrode business to the Japanese company Showa Denko, for a negotiated enterprise value of 350 million euros. The company is currently waiting for anti-trust approvals from the US, and expects this deal to be completed by mid-2017.

Further, the company said it wants to use the proceeds from the sale of Performance Products and the capital increase for the early repayment of corporate bond due in 2021, as well as to repay convertible bond due in 2018.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Ryanair Holdings Plc were losing around 2 percent in the early morning trading in London after the Irish no-frills airline Tuesday said it is cautiously guiding a profit increase in fiscal 2018 after reporting weak profit in fiscal 2017. The latest year profit was hurt by the absence of prior year's gain, while revenues increased with strong traffic growth. Hampton Farms has voluntarily recalled Ava's brand organic cashews for potential Listeria contamination. The Organic Cashews Roasted & Salted 8 oz. tubs were distributed in New Jersey, New York, Pennsylvania and Connecticut. As per the recall statement, fewer than 225 units of this product were offered for retail sale. Maternity leave is a temporary period of absence from employment granted to expectant or new mothers during the months immediately before and after their pregnancy. Parental leave, including maternity, paternity and adoption leave, is an employee benefit. Many countries around the world, including...
comments powered by Disqus
Follow RTT