Composites maker SGL Group’s H1 sales remain unchanged
August 11, 2016 - Germany
Composites maker SGL Group’s sales from continuing operations in the six months ended June 30, 3016 amounted to €379.4 million, nearly unchanged from €385.3 million in the first half of 2015.
However, EBIT after non-recurring charges turned positive from a loss of €3.3 million to a profit of €9.6 million.
But the Group’s net financing result grew higher to a negative €25.9 million in the reporting period as against a negative €23.2 million in the prior year’s first half.
According to the company, its reporting segment, Composites – Fibers & Materials (CFM) made a particularly strong contribution, with its recurring EBIT rising to €12.2 million from €3.9 million.
“We’ve intensified our review of strategic options for Performance Products (PP) since the completed legal separation early June,” Dr. Jürgen Köhler, CEO of SGL Group said.
“It became apparent that a sale of the business unit is the most sustainable route, both for SGL Group and for PP,with our aim to sell PP by the end of this year,” he added. (AR)
However, EBIT after non-recurring charges turned positive from a loss of €3.3 million to a profit of €9.6 million.
But the Group’s net financing result grew higher to a negative €25.9 million in the reporting period as against a negative €23.2 million in the prior year’s first half.
According to the company, its reporting segment, Composites – Fibers & Materials (CFM) made a particularly strong contribution, with its recurring EBIT rising to €12.2 million from €3.9 million.
“We’ve intensified our review of strategic options for Performance Products (PP) since the completed legal separation early June,” Dr. Jürgen Köhler, CEO of SGL Group said.
“It became apparent that a sale of the business unit is the most sustainable route, both for SGL Group and for PP,with our aim to sell PP by the end of this year,” he added. (AR)