WIESBADEN (dpa-AFX) - SGL Carbon (SGLFF.PK) said, mainly due to the non-recurrence of the positive nonrecurring item in the prior year, the first-quarter result from continuing operations before income taxes decreased almost 75% year-on-year. However, adjusted recurring EBIT improved as the decline in earnings in the business unit CFM was more than offset by the significant improvements in operating earnings in the business unit GMS and in Corporate. Group sales revenue increased significantly by 10% (currency adjusted by 7%), primarily attributable to higher deliveries by Graphite Materials & Systems or GMS. Looking forward, the Group fully confirmed its outlook as presented in the Annual Report 2018.
For the first-quarter, result from continuing operations was 9.0 million euros compared to 36.4 million euros, previous year. Earnings per share from continuing operations was 0.07 euros compared to 0.29 euros. Operating profit (EBIT) before non-recurring items (recurring EBIT) was 18.7 million euros compared to 20.5 million euros, a year ago. Adjusted for the positive one-time effect from a land sale in the prior year, Group recurring EBIT increased by 2.1 million euros to almost 19 million euros.
First-quarter sales revenue was 288.9 million euros compared to 263.4 million euros, last year. Group sales increased by nearly 10% driven by organic growth in the market segments Digitization, Energy, Chemicals and Industrial Applications.
For 2019, the company continues to expect a mid single digit percentage sales increase and a Group recurring EBIT on the prior year level.
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