Home / Knowledge / News / Textiles / SGL Group FY'13 sales drop 10%
SGL Group FY'13 sales drop 10%
10
Mar '14
The fiscal year 2013 developed weaker than originally anticipated for SGL Group – The Carbon Company – but in line with the adjusted June guidance.
 
Primarily due to the unsatisfactory price development in graphite electrodes and the cyclical downturn in graphite specialties, Group sales declined by 10% to €1,477.0 million. 
 
As a result of the adverse development in all three Business Areas, Group EBIT before non-recurring charges decreased to €19.5 million (2012: €164.4 million) and EBIT margin was down to 1.3 % (2012: 10.0 %). Group-wide savings from the cost savings program SGL2015 amounted to approximately €69 million, thereby significantly exceeding the expected savings of €50 million. Approximately €27 million of savings were attributable to the SGL Excellence initiative.
 
Highlights for Fiscal Year 2013:
-Sales decreased by 10% to €1,477 million compared to previous year
-EBIT before non-recurring charges down to €19,5 million
-Non-recurring charges and restructuring expenses of €227 million
-Free cash flow improved by €104 million to €38,2 million
-Outlook for 2014 impacted by continued difficult market environment in graphite electrodes 
 
Within the context of the repositioning of the Company and the difficult economic environment, negative non-recurring charges totaling €226.9 million had to be recorded on EBIT level. These included impairments of €120.6 million and project write-offs of €22.1 million in the Business Area Carbon Fibers & Composites and SGL2015 related restructuring expenses of €84.2 million. Accordingly, Group EBIT including non-recurring charges and restructuring expenses was minus €207.4 million (2012: 110.2 million).
 
Jürgen Köhler, CEO of SGL Group: “2013 was operationally one of the most difficult years ever for our Company and developed disappointingly. As a result, we implemented the comprehensive group-wide cost savings program SGL2015 to counter the increasing challenges. Regarding the realignment of the Company, initial successes have been achieved. Now it is important to drive the restructuring process forward and return SGL Group to a sustainable profitable growth track. As a technology company, we will ensure a balance between cost savings and investments in future technologies and innovations.”
 
Click here to view more
 

SGL Group


Interviews View All

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search