Germany's SGL Carbon's sales grow 1.9% to €560.5 mn in H1 FY23

This growth was driven by the expected robust performance of the graphite solutions business unit and better-than-expected results from the composite solutions segments, which offset a drop in demand in carbon fibres, the company said in a press release.

The composite solutions (CS) business unit posted strong growth with a higher-than-forecast sales increase of 14.4 per cent to €79.6 million in H1 FY23, up from €69.6 million in H1 FY22. The adjusted EBITDA also improved by 26.8 per cent to €12.3 million compared to €9.7 million in the same period of the previous year.

On the other hand, the carbon fibres (CF) unit did not meet expectations, with a significant 28.9 per cent decline in sales to €125.1 million in H1 FY23, down from €176.0 million in H1 FY22. There was a sharp 78.4 per cent drop in earnings to €6.1 million, compared to €28.2 million in H1 FY22.

ALCHEMPro News Desk (DP)