In the fiscal year 2020, the Covid-19 pandemic had a major impact on the business development of SGL Carbon SE, Wiesbaden/Germany. Even though production did not have to be shut down at any time thanks to effective hygiene and protection measures, the company was faced with a substantial reduction in demand. While for the reporting segment Composites - Fibers & Materials (CFM) a recovery of demand could be observed until end of the year, the demand in the reporting segment Graphite Materials & Systems (GMS) improved only slightly by year end.
Consolidated sales in 2020 amounted to €919.4 million (-15%). EBIT before non-recurring items improved slightly by 3.7% to €50.2 million.
SGL initiated a fundamental transformation of the company in 2020 which comprises administrative areas as well as the business units. The business units have been divided into 4 homogeneously tailored divisions since the beginning of 2021. Central research and central analytics have been allocated to the 4 new business units, and the production sites have been clearly assigned. The program is scheduled to result in recurring savings of more than €100 million by 2023 (compared to 2019). Around €40 million of the expected savings were already achieved in 2020.
The outlook for 2021 predicts sales in the range of €920-970 million.