SGL Carbon SE (SGLFF), a German maker of products from carbon, on Monday recorded a decline in preliminary sales for the first half, mainly due to continued restraint in demand from semiconductor customers for special graphite components. In addition, the Carbon Fibers business recorded lower sales based on the discontinuation of unprofitable business activities as part of the restructuring.
For the six-month period, the company registered sales of 453.2 million euros, less than 538 million euros in the same period last year.
The cost savings resulting from the restructuring of Carbon Fibers business were unable to offset the missing earnings contributions from the decline in the high-margin semiconductor business. As a result, preliminary adjusted EBITDA stood at 72.5 million euros as against the prior year's 86.5 million euros.
Excluding items, EBITDA margin remained almost unchanged at 16 percent, compared with the prior year's 16.1 percent.
Citing its first-half financial performance and the further restructuring of Carbon Fibers business, the Board has revised down its fiscal 2025 sales guidance. For the full year, SGL Carbon now expects its sales to decline 10% to 15% against the prior expectation for a decrease in sales of up to 10%.
For fiscal 2024, the company had registered sales of 1.026 billion euros.
Citing the discontinuation of loss-making business activities in the Carbon Fibers business as part of the restructuring and the associated improvement in profitability, the company has reaffirmed its annual adjusted EBITDA outlook of 130 million euros to 150 million euros.
SGL Carbon intends to release its first-half results on August 7.
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