SGL Carbon overcomes crisis

24 March 2002

SGL Carbon AG, the German-based carbon and graphite products group, reports that, during the difficult period it has recently undergone, it has created new areas of activity and streamlined its organisational hierarchy.

The company aims for its new areas of business - high-performance brakes, carbon fibres and fuel cells - to achieve profits for 2003, when the group as a whole aims to move into the black. For 2002, turnover is expected to remain stable, and the company does not expect a significant earnings rise.

For 2001, the operating result fell by 8 per cent (seen as satisfactory in view of an unfavourable market), while the pre-tax result fell from a profit of 20m euros to a loss of 66m euros, burdened by start-up costs for new activities, restructuring costs and reserves for possible fines by the EU. The annual deficit deepened from 36m euros to 95m euros, while turnover remained fairly stable at 1.2bn euros. No dividend is to be paid.

Share this story