EQS-News
SGL Carbon evaluates strategic options for the Business Unit Carbon Fibers
- SGL Carbon evaluates options for Carbon Fibers unit
- Reviewing potential sale of Business Unit
- Seeking partner to support Carbon Fibers growth
EQS-News: SGL CARBON SE / Key word(s): Miscellaneous SGL Carbon evaluates strategic options for the Business Unit Carbon Fibers |
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Review of all options for the Business Unit Carbon Fibers
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Management Board does not exclude a partial or complete sale of the Business Unit
Wiesbaden, February 23, 2024. SGL Carbon SE is currently evaluating various strategic options for the Business Unit Carbon Fibers (CF). These include a possible partial or complete divestment of the Business Unit. In a first step, potential interested parties shall be approached promptly with the general data of the Business Unit to determine their interest in an acquisition. If there is sufficient interest, a structured transaction process will be carried out in a second step. Overall, a share of sales amounting to around € 179.6 million after nine months in 2023 (9M 2022: € 269.0 million) is therefore under review. The CF sales share corresponded to 21.9% of SGL Carbon's consolidated sales after nine months in 2023 (9M 2022: 31.5%). Adjusted EBITDA1 of the Business Unit excluding the result from joint ventures amounted to minus € 10,9 million after nine months in 2023 (9M 2022: € 27,9 million). Despite the operating loss of CF after nine months in 2023, SGL Carbon maintains its guidance for fiscal year 2023. This shows the positive development of the three other business units and the resilience of SGL Carbon's business model.
"After the restructuring from 2020 to 2022 and the stabilization year 2023, SGL Carbon is preparing for the next step of profitable growth. We have positioned SGL Carbon in such a way that the four operating business units can be successful independently in their markets. In order to best exploit the development potential of our Carbon Fibers, we are currently evaluating all options, including a complete divestment. We are looking for a partner or new owner who can provide the necessary resources to further develop the Carbon Fibers business and position it successfully for the future," explains Dr. Torsten Derr, CEO of SGL Carbon SE.