WIESBADEN (dpa-AFX) - Carbon products maker SGL Carbon SE (SGLFF.PK) reported Thursday that its first-quarter consolidated net result was loss of 0.3 million euros, narrower than last year's loss of 26.4 million euros.
Pre-tax result from continuing operations improved to loss of 5.1 million euros from previous year's loss of 8.7 million euros.
Recurring Group EBIT increased significantly by 50 percent to 9.6 million euros due to the improved earnings in the business unit GMS and savings in the reporting segment Corporate.
Group sales were up 15.4 percent to 216.3 million euros from last year's 187.5 million euros, driven by market segments energy, digitization, industrial applications and textile fibers.
Further, the company confirmed its outlook for 2017. SGL Group anticipates net loss from continuing operations in the mid-double-digit million euro range, roughly at the same level as the previous year.
SGL said its expected volume growth and the implementation of initial CORE measures should allow Group EBITDA and Group EBIT on adjusted basis to increase more than proportionately to sales, for which it anticipates a high single digit percentage increase.
The company noted that for the business with cathodes, furnace linings and carbon electrodes, a sales agreement is to be reached by the end of this year.
Copyright RTT News/dpa-AFX