SGL Carbon SE Faces Impairment in Carbon Fibers Unit, Confirms 2024 Guidance

SGL Carbon SE has announced a non-cash impairment charge for its Carbon Fibers business unit, estimated between €60–80 million, to be recorded in Q4 2024. This follows ongoing demand weakness for carbon and textile fibers, particularly in the wind and automotive sectors, exacerbated by global overcapacity and competitive pricing. Despite this, SGL Carbon confirms its adjusted EBITDA guidance for 2024 at the lower end of the €160-170 million range.

For the first nine months of 2024, group sales decreased by 4.8% year-on-year to €781.9 million. However, adjusted EBITDA remained stable at €127.6 million, with the margin improving slightly to 16.3%. The improvement was driven by product mix effects in the Graphite Solutions and Process Technology units.

The firm emphasizes that the strategic review of the Carbon Fibers unit, initiated in February 2024, continues unaffected by the impairment. Further details will be disclosed in the quarterly statement on November 7, 2024.