Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  SGL Carbon SE    SGL   DE0007235301

SGL CARBON SE

(SGL)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Shares of Germany's SGL tumble after profit warning, CEO resignation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/15/2019 | 07:05am EDT

FRANKFURT (Reuters) - Shares of German carbon fibre maker SGL Group tumbled 32% to their lowest in nearly 17 years on Thursday after the company withdrew its forecasts for the next three years and said its CEO quit over flawed business planning.

The company, in which German billionaire Susanne Klatten owns a 28% stake alongside smaller stakes held by carmakers BMW and Volkswagen, also warned profit this year would fall short of a forecast it affirmed just last week.

SGL shares fell 32% to 3.68 euros in morning trade, set to mark their biggest one-day decline. The fall put the company's market value below 450 million euros, in what a local trader described as an "absolute disaster" for investor confidence.

BMW and Volkswagen tussled for control of SGL in 2011, driving its market value above 3 billion euros in anticipation that carbon fibre-reinforced parts would be used more widely in electric vehicles.

But the business failed to live up to expectations.

In a statement late on Wednesday, SGL - whose carbon fibre is used in auto parts and wind turbines - said its forecasts for the 2020-2022 period had become obsolete and restructuring measures were being considered.

It also said it expected adjusted operating profit this year would fall 10 million euros (9.2 million pounds) below last year's level of 65 million euros instead of being flat as previously expected.

BUYOUT OPTION

Cost overruns in a large order - for rotor-blade materials from a wind energy company - were partly to blame for the bleaker outlook, a spokesman added.

The wind energy industry is being weaned off the generous state subsidies on which it was built.

Turbine maker Vestas on Thursday said earnings were hit by competitive markets and tariffs while rival Nordex, in which Klatten also holds a stake, has coped better with price pressure this year.

Christian Obst, an analyst at brokerage Baader Helvea, said Klatten - who also owns a stake in BMW that she inherited from her father Herbert Quandt - could opt to buy out SGL. A spokesman for Klatten declined to comment on her plans with SGL.

SGL said CEO Juergen Koehler would step down at the end of the month with Klatten, head of the non-executive supervisory board, showing "complete respect and understanding for this decision". SGL did not name a successor.

The company's graphite and carbon products go into semiconductor production gear, anodes of lithium-ion batteries as well as lightweight parts in BMW electric vehicles and luxury sedans.

A business that makes graphite electrodes for steel furnaces - once SGL's major cash generator - was sold in 2017 after it came under pressure from Chinese rivals.

(Additional reporting by Patricia Weiss; Editing by John Stonestreet, Michelle Martin and Deepa Babington)

By Ludwig Burger

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.25% 65.15 Delayed Quote.-8.08%
SGL CARBON SE -4.24% 4.652 Delayed Quote.-23.68%
VESTAS WIND SYSTEMS -2.23% 551.6 Delayed Quote.12.09%
VOLKSWAGEN AG 0.55% 159.8 Delayed Quote.15.03%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SGL CARBON SE
09/12Wacker Chemie takes 25% in British battery materials maker
RE
08/15Shares of Germany's SGL tumble after profit warning, CEO resignation
RE
08/14SGL CARBON SE : Following the analysis of the actual results of the business uni..
EQ
07/30SGL CARBON SE : Preliminary announcement of the publication of financial reports..
EQ
07/11SGL CARBON SE : Release according to Article 40, Section 1 of the WpHG [the Germ..
EQ
07/04SGL CARBON SE : Notification and public disclosure of transactions by persons
EQ
04/30SGL CARBON SE : Preliminary announcement of the publication of quarterly reports..
EQ
04/05SGL CARBON SE : Notification and public disclosure of transactions by persons
EQ
03/20SGL CARBON SE : Preliminary announcement of the publication of financial reports..
EQ
03/01SGL CARBON : Innovation with Carbon at the Hannover Messe
PU
More news
Financials (EUR)
Sales 2019 1 064 M
EBIT 2019 58,8 M
Net income 2019 -11,9 M
Debt 2019 367 M
Yield 2019 -
P/E ratio 2019 -50,1x
P/E ratio 2020 25,4x
EV / Sales2019 0,88x
EV / Sales2020 0,86x
Capitalization 569 M
Chart SGL CARBON SE
Duration : Period :
SGL Carbon SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SGL CARBON SE
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 5,28  €
Last Close Price 4,60  €
Spread / Highest target 152%
Spread / Average Target 14,8%
Spread / Lowest Target -34,8%
EPS Revisions
Managers
NameTitle
Jürgen Wolfgang Köhler Chief Executive Officer
Susanne Klatten Chairman-Supervisory Board
Michael Majerus Chief Financial Officer
Daniel J. Camus Member-Supervisory Board
Helmut Jodl Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
SGL CARBON SE-23.68%626
INDUSTRIAS PENOLES SAB DE CV10.02%5 396
TIANQI LITHIUM CORP--.--%4 251
GRAFTECH INTERNATIONAL LTD16.08%3 858
JINDUICHENG MOLYBDENUM CO LTD23.99%3 340
GEM CO LTD--.--%2 768