(Corrects headline to say adj. EBITDA improved by 9%, not up to
9%, adds the figure.)
May 5 (Reuters) - SGL CARBON SE :
* Q1 SALES INCREASE BY 4.7% TO EUR 283.7 MILLION IN Q1 2023
* Q1 ADJUSTED EBITDA IMPROVES BY 9.0% TO EUR 40.1 MILLION
* Q1 GROWTH BASED IN PARTICULAR ON STRONG DEMAND FROM
SEMICONDUCTOR INDUSTRY
* IN FIRST THREE MONTHS OF FISCAL YEAR 2023, BUSINESS UNIT
GRAPHITE SOLUTIONS WAS MAIN DRIVER OF SGL CARBON'S GROWTH WITH
AN INCREASE IN SALES OF EUR 21.3 MILLION OR 17.8%.
* Q1 TAKING INTO ACCOUNT DEPRECIATION AND AMORTIZATION OF
EUR 14.3
MILLION (Q1 2022: EUR 14.1 MILLION) AS WELL AS ONE-OFF EFFECTS
AND NON-RECURRING ITEMS OF MINUS EUR 0.1 MILLION, EBIT IN
REPORTING PERIOD AMOUNTED TO EUR 25.7 MILLION (Q1 2022: EUR 31.2
MILLION).
* Q1 NET FINANCIAL DEBT INCREASED SLIGHTLY TO EUR 174.2
MILLION AS
OF MARCH 31, 2023 (DEC. 31, 2022: EUR 170.8 MILLION).
* Q1 LEVERAGE RATIO REMAINS UNCHANGED AT 1.0. DUE TO
POSITIVE
CONSOLIDATED NET INCOME, EQUITY RATIO INCREASED AGAIN SLIGHTLY
COMPARED TO END OF FISCAL 2022 TO 39.5% (DEC. 31, 2022: 38.5%).
* GROUP SALES ARE EXPECTED TO BE AT PRIOR-YEAR LEVEL AND
EBITDAPRE
BETWEEN EUR 160 - 180 MILLION
* CAPITAL EXPENDITURE IN Q1 2023 AMOUNTED TO EUR 19.0
MILLION
* EBITPRE IS FORECAST TO BE BETWEEN EUR 100 - 120 MILLION
* FREE CASH FLOW AT END OF FISCAL 2023 IS EXPECTED TO BE AT
PRIOR-YEAR LEVEL AND RETURN ON CAPITAL EMPLOYED (ROCE) BETWEEN
10% AND 12%
* CEO - AT BEGINNING OF 2023, WE HAD ALREADY ANNOUNCED
EXPANSION
OF OUR INVESTMENT ACTIVITIES TO EXPAND PRODUCTION CAPACITIES IN
GRAPHITE SOLUTIONS BUSINESS UNIT. IN PREVIOUS YEARS, OUR CAPITAL
EXPENDITURE WAS IN LINE WITH DEPRECIATION AND AMORTIZATION. IN
ADDITION TO THESE APPROXIMATELY EUR 60 MILLION, WE WILL INVEST
FURTHER EUR 20 TO EUR 30 MILLION IN 2023, WHICH WILL BE FINANCED
BY ADVANCE PAYMENTS IN CONTEXT OF LONG-TERM SUPPLY CONTRACTS
FROM OUR CUSTOMERS IN SEMICONDUCTOR INDUSTRY.
* Q1 CARBON FIBERS (CF) BUSINESS UNIT RECORDED A DECLINE IN
SALES
OF EUR 24.0 MILLION IN REPORTING PERIOD.
Further company coverage: (Gdansk Newsroom)
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