#Nonwovens / Technical Textiles

2014-02-26

SGL Carbon SE will not propose a dividend payment for fiscal year 2013

SGL Group is one of the world’s leading manufacturers of carbon-based products and materials (c) 2014 SGL Group

SGL Carbon SE has completed an extremely difficult fiscal year 2013. In June 2013 the full year EBITDA guidance was reduced to 50 - 60% below the prior-year level of €240 million. According to preliminary results, the Company has achieved this full year guidance at the lower end of the range due to a further weak development in the fourth quarter 2013.

In addition to the weak operational result, the earnings situation was significantly burdened by impairment charges in the Business Area Carbon Fibers & Composites (CFC) and in the deferred tax assets, which were already recorded in the second quarter 2013. As anticipated, the measures defined in the cost savings program SGL2015, which have already been partially implemented, have led to restructuring expenses in the second half year of 2013.

As announced, these expenses amount to a high double-digit million euro figure. Altogether, SGL Group expects a Group net loss of almost €400 million.

The negative trends observed in the final quarter 2013 have continued into the first weeks of the new fiscal year 2014, particularly in the main business with graphite electrodes. If this development does not improve significantly in the course of the year, it will be difficult to achieve the operating earnings level of 2013, as the expected improvements in most other Business Units will not suffice to compensate for the decline in the graphite electrode business.

In light of the high net loss in the fiscal year 2013 as well as the weak start into the new year, the Board of Management of SGL Carbon SE will not propose a dividend payment for the fiscal year 2013. The Company feels committed to its shareholders to resume payment of a continuous, earnings related dividend with the sustainable recovery of profitability.

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