DGAP-Adhoc: SGL CARBON SE: Preliminary results of fiscal year 2014: slightly better than expected operating performance but substantial net loss


SGL CARBON SE  / Key word(s): Preliminary Results

28.01.2015 18:57

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Wiesbaden, January 28, 2015. SGL Carbon SE has completed a challenging
fiscal year 2014. As already anticipated in our March 2014 press
conference, Group EBIT in 2014 declined substantially compared to the prior
year due to the adverse development in graphite electrode pricing and
despite the improvement in most other businesses. Nevertheless, according
to preliminary results, the Company has slightly surpassed market
expectations with a small single digit positive EBIT (before non-recurring
effects) in the full year 2014.
 
This slightly positive EBIT (before non-recurring effects) will be
significantly burdened by impairment charges, particularly relating to
HITCO Carbon Composites, which was classified as asset held for sale in
June 2014 and for which we have received an updated appraisal. In addition
we anticipate further SGL2015 restructuring charges beyond the forecasted
mid double digit million range, especially in the reporting segment Carbon
Fibers & Materials (CFM). From today's point of view, these additional
restructuring and impairment charges could reach approximately EUR105
million altogether. Including potential tax implications of the
extraordinary charges, SGL Group expects a Group net loss of approximately
EUR250 million in the full year 2014 (2013: net loss of EUR317 million).

Further details on the 2014 results and guidance for fiscal year 2015 will
be provided with the publication of our annual report on March 18, 2015.


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Information and Explaination of the Issuer to this News:

Important note:
This press release may contain forward-looking statements based on the
information currently available to us and on our current projections and
assumptions. By nature, forward-looking statements involve known and
unknown risks and uncertainties, as a consequence of which actual
developments and results can deviate significantly from these
forward-looking statements. Forward-looking statements are not to be
understood as guarantees. Rather, future developments and results depend on
a number of factors; they entail various risks and unanticipated
circumstances and are based on assumptions which may prove to be
inaccurate. These risks and uncertainties include, for example,
unforeseeable changes in political, economic, legal, and business
conditions, particularly relating to our main customer industries, such as
electric steel production, to the competitive environment, to interest rate
and exchange rate fluctuations, to technological developments, and to other
risks and unanticipated circumstances. Other risks that in our opinion may
arise include price developments, unexpected developments connected with
acquisitions and subsidiaries, and unforeseen risks associated with ongoing
cost savings programs. SGL Group does not intend or assume any
responsibility to revise or otherwise update these forward-looking
statements.

28.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      SGL CARBON SE
              Söhnleinstraße 8
              65201 Wiesbaden
              Germany
Phone:        +49 (0)611 6029 - 0
Fax:          +49 (0)611 6029 - 101
E-mail:       investor-relations@sglgroup.com
Internet:     www.sglgroup.de
ISIN:         DE0007235301
WKN:          723530
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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