Sgl Carbon Se Stock Earnings Reports

SGL Carbon reported Q1 2026 results showing a 21.3% year‑over‑year revenue decline to EUR 184m, driven largely by the deliberate discontinuation of unprofitable carbon fiber activities and weaker demand in Graphite Solutions (silicon carbide) and Process Technology. Despite the top‑line drop, EBITDA pre decreased only 11.6% to EUR 29.6m, yielding a resilient EBITDA pre margin of ~16% due to cost savings and restructuring. Business‑unit highlights: Graphite Solutions saw an 8.8% sales decline and lower high‑margin contributions amid high channel inventories; Process Tech experienced a marked drop in orders and a ~30% sales decline with profitability down sharply; the newly combined Fiber Composites unit reflects the exit from loss‑making carbon fiber activities and now shows materially improved profitability. Cash flow turned positive (free cash flow ~EUR 6.4m), net result returned to positive (~EUR 5.9m), net financial debt declined (leverage ~0.7x) and equity ratio approached 40%. Management reconfirmed full‑year guidance (EUR 720–770m sales; EBITDA pre EUR 110–130m) but emphasized ongoing macro, geopolitical and sectoral uncertainty—notably no recovery expected in semiconductors and automotive for 2026. Strategic focus areas include renegotiating semiconductor contracts, scaling defense project development (expected to contribute later, potentially 2027), and progressing energy value‑chain orders (cited USD 100m opportunity over three years). Restructuring is largely complete, with only minor remaining one‑off costs.