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9M recurring EBIT at SGL Group up a steep 48.8%

12 Nov '16

1 min read

Recurring EBIT from continuing operations at German composites producer SGL Group rose to €12.8 million in the first nine months of 2016, up a steep 48.8 per cent over the same period of 2015. Of this, recurring EBIT at the CFM division rose to €16.8 million compared to €12.9 million and that of the GMS division declined to €18.8 million from €27.2 million.

In the period under review, SGL Group sales from continuing operations dropped 6 per cent to €562.1 million, down from €598.8 million in the first nine months of 2016.

Return on Capital Employed (ROCE) based on EBITDA before non-recurring charges expanded to 7.8 per cent as against 5.6 per cent in the comparable period of the prior year.

Operating loss in the first nine months of the current year fell to €38.7 million vis-à-vis €39.7 million, while pre-tax loss from continuing operations too decreased to €26.5 million from €33.1 million. (AR)

Fibre2Fashion News Desk – India