SGL Group Turns To Loss In FY13 - Quick Facts

(RTTNews) - SGL Group (SGLFF.PK), a manufacturer of carbon-based products and materials, reported consolidated net loss attributable to equity holders of 396.4 million euros, or 5.59 euros per basic share in fiscal 2013, as against a profit of 5.9 million euros, or 0.08 euros per basic share, in 2012.

For the year, EBIT before non-recurring charges amounted to 19.5 billion euros, as a result of the adverse development in all three business areas.

Owing to the unsatisfactory price development in graphite electrodes and the cyclical downturn in graphite specialties, annual Group sales fell 10.3% to 1.48 billion euros, from 1.65 billion euros last year.

The company said its outlook for 2014 was impacted by continued difficult market environment in graphite electrodes. Group sales for 2014 should remain stable compared with 2013, on a comparable basis and including the initial proportional consolidation of the joint venture with BMW. In 2014, a net loss for the Group, both before and after taxes, is anticipated, however significantly lower than in fiscal 2013, depending on the scope of further restructuring expenditures.

Due to the high losses in fiscal 2013 and the weak start into this business year, the Board of Management and the Supervisory Board of SGL Carbon SE would not propose a dividend payment for fiscal 2013 to the Annual General Meeting.