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SGL Carbon Slips To Loss In Q1; Sees Negative Group Recurring EBIT In Q2

German carbon and graphite product manufacturer SGL Carbon (SGLFF.PK) reported Thursday that its consolidated net loss for the first quarter attributable to shareholders of the parent company was 4.3 million euros, compared to net income of 8.9 million euros in the year-ago period. Loss per share was 0.04 euros, compared to earnings of 0.07 euros per share in the prior-year quarter.

Operating profit or EBIT for the quarter was 6.4 million euros, down 60.7 percent from 18.3 million euros in the year-ago period.

Group recurring EBIT fell 51.9 percent to 9 million euros from 18.7 million euros in the year-ago period.

Sales revenue for the quarter declined 14.5 percent to 246.8 million euros from 288.8 million euros last year.

The decline in group sales was due to changes in the lithium-ion battery supply chain in the business unit Graphite Materials & Systems or GMS, as well as restructuring-driven lower sales in Textile Fibers in the business unit Composites - Fibers & Materials or CFM.

Looking ahead to the second quarter, SGL Carbon projects a decline in Group sales revenue and negative Group recurring EBIT, as the global measures taken by the company to contain the coronavirus pandemic led to disruptions in production and supply chains in April and early May 2020.

The company has suspended its guidance for the full year 2020 due to the impact of the COVID-19 pandemic.

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