Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SGL CARBON SE. We currently have 15 research reports from 1 professional analysts.
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SGL CARBON SE
SGL CARBON SE
21 Mar 17
The company reported 2016 results. Revenues excluding discontinued activities declined 2.5% to €769.8m. EBIT before special items increased 51.1% from €13.7m to €20.7m. The EBIT margin increased from 1.7% to 2.7%. Net losses including discontinued activities improved from €295m to €111.7m (estimate -€94m). Revenues of the business division CMF (Composites – Fibres & Materials) declined 3% to €317.4m. EBIT before extraordinary items improved from €11.3m to €20.1m. The EBIT margin increased from 3.5% to 6.3%. The main driver of the business was the automotive industry and material business of HITCO. Revenues of the business division GMS (Graphite Materials & Systems) remained stable at around €444.1m compared to €453.5m in 2015. EBIT declined from €34.1m to €27.8m and the EBIT margin from 7.5% to 6.3%. The company profited from strong demand for anode material for Lithium-Ionen batteries but suffered due to the weak demand from the US oil and gas industry.
A capital increase was imminent!
29 Nov 16
SGL Carbon has announced a capital increase to deleverage the balance sheet. The company will issue 30m new ordinary shares against cash contributions. The new bearer shares with a no par value (notional value of €2.56) will be offered to existing shareholders at a ratio of 40:13 and a subscription price of €6 per share. THe gross proceeds should reach €180m. In September 2016, the equity ratio reached only 6% and will be increased to 14.8% via the capital increase.
There is hope!
18 Nov 16
The company reported final Q3 16 numbers excluding the discontinued business Performance Products. Revenues declined 9.6% to €182.7m. EBITDA dropped 54.9% to €12.5m and the EBITDA margin declined from 13.7% to 6.8%. EBIT plummeted 95.6% to €0.3m. The EBIT margin dived from 3.4% to 0.2% despite higher operating income which increased 48% to €11.1m. Net losses including discontinued business rose from €20.6m to €50.9m. In the first nine months, adjusted revenues declined 6.1% to €526.1m. EBITDA dropped 40.7% to €42.8m and the EBITDA margin declined from 12.1% to 7.6%. Net losses increased from €102.4m to €124.1m.
Small is beautiful!
20 Oct 16
SGL Carbon has sold its loss-making business division Performance Products (PP) to the Japanese company Showa Denko for an enterprise value of around €350m cash and debt free. The company will receive at least €200m after the deduction of standard debt-like items such as pension and restructuring provisions.
Wanted: investor with deep pockets
16 Aug 16
The company reported Q2 16 results. Revenues declined 3.2% to €191.9m excluding the carved-out business division Performance Products (PP) which is now classified as held for sale and as a discontinued operation. Consequently, all assets and liabilities were adjusted for PP. The adjusted gross margin declined from 18.8% to 17.3%. EBITDA plummeted 57.7% to €14.2m but EBIT improved from a loss of €0.2m to a profit of €1.2m. Net losses excluding PP reached €6.8m and including PP around €46.8m compared to a loss of €68.5m in Q2 15. In the first half year, adjusted revenues declined 1.5% to €379.4m. EBIT improved from a loss of €3.3m to a profit of €6.3m. Net losses including PP reached €73.2m compared to €85m in the first half year 2015.
Keeping fingers crossed
30 May 16
According to the latest news, the Chinese State-owned company ChemChina may be interested in buying the ailing Performance Products business from SGL Carbon or even the whole company. The management of SGL Carbon has already circulated the offering prospectus for the Performance Products business division. Now a serious buyer has turned up and shown interest in the company.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
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N+1 Singer - N1S Trend spotting - Strategy update
08 Mar 17
In this new product we present some strategy theme updates arising out of our latest analysis of macro trends and economic data and our innovative Quant work. We also look at upcoming events and suggest topping up on some of our Best Ideas for 2017.
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
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