SGL Carbon, a manufacturer of high-quality materials, posted 4 per cent sales growth to €1.1 billion in fiscal 2019 ended on December 31, 2019. Due to ongoing weakness in market segments textile fibres and industrial applications, business unit CFM (Composites Fibres & Materials) recorded a non-cash impairment loss of €75 million in the Q3 FY19, as reported.
SGL Carbon, a manufacturer of high-quality materials, posted 4 per cent sales growth to €1.1 billion in fiscal 2019 ended on December 31, 2019. Due to ongoing weakness in market segments textile fibres and industrial applications, business unit CFM (Composites Fibres & Materials) recorded a non-cash impairment loss of €75 million in the Q3 FY19, as reported.#
“The financial development of the fiscal year 2019 conceals the fact that our strategic orientation is correct. Main drivers were the topics sustainable mobility and energy as well as
digitisation. Therefore, we expect that we can grow our consolidated revenue by a mid to high single digit percentage per year on average between 2020 and 2024,” Dr Michael Majerus, spokesman of the board of management of SGL Carbon, said in a press release.
SGL Carbon, a manufacturer of high-quality materials, posted 4 per cent sales growth to €1.1 billion in fiscal 2019 ended on December 31, 2019. Due to ongoing weakness in market segments textile fibres and industrial applications, business unit CFM (Composites Fibres & Materials) recorded a non-cash impairment loss of €75 million in the Q3 FY19, as reported.#
The record result in the graphite specialities business could not fully compensate for the weak development in the market segments wind energy, textile fibres and industrial applications in the
carbon fibre business, company reported.
SGL Carbon, a manufacturer of high-quality materials, posted 4 per cent sales growth to €1.1 billion in fiscal 2019 ended on December 31, 2019. Due to ongoing weakness in market segments textile fibres and industrial applications, business unit CFM (Composites Fibres & Materials) recorded a non-cash impairment loss of €75 million in the Q3 FY19, as reported.#
Sales in CFM slightly increased 2 per cent to €431.6 million (FY18: €422.5 million). Sales of GMS rose 6 per cent to €622.5 million (FY18: €589.9 million). Corporate sales were down slightly to €32.6 million (FY18: €35.1 million).
SGL Carbon, a manufacturer of high-quality materials, posted 4 per cent sales growth to €1.1 billion in fiscal 2019 ended on December 31, 2019. Due to ongoing weakness in market segments textile fibres and industrial applications, business unit CFM (Composites Fibres & Materials) recorded a non-cash impairment loss of €75 million in the Q3 FY19, as reported.#
Company reported a consolidated net loss of approximately €90 million in FY19, primarily due to impairment charges in CFM and to deferred tax assets.
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