Stifel
German Corporate
Conference
Thomas Dippold (CFO) I Frankfurt I May 15, 2024
Content
- Our business model at a glance
- Details on Q1 2024 results
- Main growth segment: Semiconductors
- Strategic Review Business Unit Carbon Fibers
- Outlook 2024
- Mid-termexpectations and summary
2
1 Our business model at a glance
"Expert for products and solutions based on carbon and graphite"
Summary FY 2023 and look into the future
Financials
Business
Outlook
1,089.1 mEUR
GS, PT and CS
Guidance 2024:
Group sales. 4.1%
Equity Ratio
with record
CF burdened by
collapse of
Sales on previous year level
down - driven by strong demand in GS, PT, CS -
at 41.1%
(31.12.2022:
38.5%)
performance in
2023demand in wind Capacities partly
High utilization
EBITDApre between 160 - 170 mEUR
but weak demand in CF
rates
idled
Mid-term plan:
115.8 mEUR
Slight decline of | net financial |
EBITDApre by | |
debt. Further | |
2.5% to | |
reduction by | |
168.4 mEUR | |
32.2% since | |
YE 2022 |
Encouraging development in SiC- based semiconductor business to continue
Focus on growth markets like semiconductor, renewable energy and e-mobility
Increasing demand for graphite components for SiC- based semiconductor industry
Higher investments to increase production capacities
2028 EBITDApre margin target ~19%-21%
4
SGL business units - innovative, unique and leading in focus markets
Graphite Solutions | Process Technology | Carbon Fibers | Composite Solutions | ||||
- Tailor-madeproducts based on synthetic graphite
- Strategic supplier for premium
Semiconductor ("Power electronics") as well as LED and
Solar applications
- Equipment and know-how specialist for chemical industry to handle corrosive material
- Acrylic fibers, carbon fibers, textiles, prepregs, preforms
- Transformation from automotive supplier to wind energy and higher margin applications
- Tailor-madeproducts based on carbon- and glass fibers
- Specialist in automotive composite components e.g.
- Battery cases for electric cars
- Leaf springs
Sales (FY 2023 mEUR) | |||||||||||
565.7 | 127.9 | 224.9 | 153.9 | ||||||||
EBITDApre (FY 2023 mEUR) | |||||||||||
134.0 | 22.4 | 7.2 | 22.2 | ||||||||
5
Graphite Solutions: Strong growth potential in fast growing markets
Selected products
Wafer | Heater | Rigid / soft felt | Crucibles | |
Sealing | Graphit Anode Gas diffusion | Vacuum | ||
materials | Material | layers | pumps |
Strategy and Outlook
- Well established technology leader in fast growing markets, esp. SiC-based semiconductor
- Strong local/regional supply of critical components and technology
- Intense investment program to enlarge production capacity to fulfill market demand
- 2024e: Slight sales increase, but significant EBITDApre growth expected
Financials
in mEUR | Q1 | 2023 | 2022 | 2021 |
2024 | ||||
Sales | 141.3 | 565.7 | 512.2 | 443.6 |
EBITDApre | 36.6 | 134.0 | 118.5 | 87.9 |
EBITDApre | 25.9% | 23.7% | 23.1% | 19.8% |
margin | ||||
Slight change means ≤ 10% I significant change means > 10%
Split market segments Q1 2024
Transport | |
Battery | 9.6% |
materials | Industrial |
4.8% | Applications |
Chemical | 27.6% |
4.1% | |
Solar | |
2.6% | |
Semiconductor | |
/ LED | |
51.2% |
Focus markets
Components | Electro- | Solar & |
Semiconductor | mobility | LED |
production | ||
Fuel Cell | Battery | |
components | Solutions |
6
Process Technology: Engineering competence enabling business performance
Selected products
Heat exchanger | Components | Column |
constructions | ||
Column equipment
Strategy and Outlook
- Striving for growth based on comprehensive product portfolio and service offerings
- Focus on expanding its technological leadership role while continuously optimizing its cost position
- 2024e: Stable sales but slight EBITDApre decrease expected
Financials
in mEUR | Q1 | 2023 | 2022 | 2021 |
2024 | ||||
Sales | 33.0 | 127.9 | 106.3 | 87.2 |
EBITDApre | 6.9 | 22.4 | 9.9 | 4.7 |
EBITDApre | 20.9% | 17.5% | 9.3% | 5.4% |
margin | ||||
Slight change means ≤ 10% I significant change means > 10%
Split market segments Q1 2024
Chemical industry 100%
Focus markets
Chemical industry
7
Carbon Fibers: Severely impacted by collapse of demand from wind industry and price pressure of commodity products
Selected products
Carbon fibers Oxidized PAN fibers Textile fibers
Pre-impregnated material
Strategy and Outlooks
- Focus on growing markets like wind industry and attractive niche markets like pressure vessels
- Strategic review process for BU Carbon Fibers started in Feb. 2024
- 2024e: Sales at prior year level, EBITDApre to decline significantly
Financials
in mEUR | Q1 | 2023 | 2022 | 2021 |
2024 | ||||
Sales | 57.6 | 224.9 | 347.2 | 337.2 |
EBITDApre | -5.2 | 7.2 | 43.2 | 54.5 |
EBITDApre | -9.0% | 3.2% | 12.4% | 16.2% |
margin | ||||
Slight change means ≤ 10% I significant change means > 10%
Split market segments Q1 2024
Aerospace
Textile3.2%
fibers
21.7%
Automotive
26.6%
Industrial
Applications
28.8%Wind energy
19.7%
Focus markets
Automotive | Wind industry Textile |
industry |
Aerospace | Pressure vessels |
8
Composite Solutions: excellent technology reputation in supplying high-volume solutions lead to growth perspectives
Selected products
Battery cases | Leaf springs | Car body components |
Structural components | Wet friction materials |
Strategy and Outlook
- Benefits from increasing number of new BEV and PHEV
- Growth with new automotive vehicle programs, high level of automation and by enlarging regional footprint (USA)
- 2023e: Significant decline in sales, but only slight decline in EBITDApre
Financials
in mEUR | Q1 | 2023 | 2022 | 2021 |
2024 | ||||
Sales | 37.1 | 153.9 | 153.1 | 122.5 |
EBITDApre | 5.5 | 22.2 | 20.0 | 12.1 |
EBITDApre | 14.8% | 14.4% | 13.1% | 9.9% |
margin | ||||
Split market segments Q1 2024
Industrial Applications 3.3% | |
Aerospace | Automotive |
2.7% | 93.9 |
Focus markets
Electromobility Automotive Aerospace
Slight change means ≤ 10% I significant change means > 10%
BEV= Battery Electric Vehicle I PHEV = Plug-inHybrid Electric Vehicle
9
2 Details on Q1 2024 results
"Q1 2024 development in line with
FY 2024 guidance"
Attachments
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Disclaimer
SGL Carbon SE published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 11:57:53 UTC.