WIESBADEN (dpa-AFX) - German carbon and graphite product manufacturer SGL Carbon (SGLFF.PK) reported Thursday that its fiscal 2020 consolidated net result was a loss of of 132.2 million euros, wider than prior year's loss of 90.0 million euros. The wider loss was due to impairment losses at CFM and restructuring expenses.
Loss per share was 1.08 euros, compared to loss of 0.74 euro last year.
Operating EBIT before nonrecurring items and one-off effects fell 58.2 percent from last year to 19.5 million euros. EBITDA before non-recurring items and one-off effects or EBITDA pre-exceptionals fell 21.5 percent to 92.8 million euros.
Meanwhile, EBIT before non-recurring items grew 3.7 percent to 50.2 million euros and EBITDA before non-recurring items grew 2.9 percent to 123.5 million euros.
Consolidated sales in 2020 were 919.4 million euros, down 15.4 percent below the prior year's 1.09 billion euros.
The company said it targets more than 100 million euros recurring savings by end of 2023 under restructuring and transformation program.
Looking ahead for fiscal 2021, the company projects consolidated net result of continuing operations to improve significantly, ranging between minus 20 million euros and a balanced result, compared to prior year's consolidated net loss from continuing operations of 132.9 million euros.
EBITDA pre-exceptionals would improve to 100 million euros to 120 million euros in 2021, compared to last year's 92.8 million euros.
Further, sales would be in the range of 920 million euros to 970 million euros, above the level of the previous year's 919.4 million euros.
Copyright RTT News/dpa-AFX