SGL benefited from its cost cutting programme, reporting higher profitability. What is helpful is the higher granularity of its businesses, but we believe management’s focus on the adjusted EBITDA as KPI puts a disadvantageous figure into the lime-light.
The reported figures were slightly ahead our expectations.
13 May 2021
Higher profitability from lower sales
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Higher profitability from lower sales
SGL benefited from its cost cutting programme, reporting higher profitability. What is helpful is the higher granularity of its businesses, but we believe management’s focus on the adjusted EBITDA as KPI puts a disadvantageous figure into the lime-light.
The reported figures were slightly ahead our expectations.