Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SGL CARBON SE. We currently have 14 research reports from 1 professional analysts.
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SGL CARBON SE
SGL CARBON SE
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.
Every dime is needed to push up EBIT
12 May 16
The company reported final Q1 16 results. Revenues declined 6.5% to €294.7m and EBIT turned from a small profit of €4.3m to a loss of €6.8m. According to the company, EBIT losses reached €5.3m due to a change in EBIT calculation. Net losses increased from €16.5m to €26.4m.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.