Sgl Carbon Se · XETR:SGL
Sgl Carbon — Sgl Group Ord — H1 2024 Earnings Presentation
18 slides from Sgl Carbon's earnings presentation, Aug 8, 2024
Slide 1: H1 2024 Results Investor & Analyst Conference Call
H1 2024 Results Investor & Analyst Conference Call Dr. Torsten Derr (CEO) Thomas Dippold (CFO) Wiesbaden I August 8, 2024
Slide 2: Agenda
Agenda 1. Details on H1 2024 2. SiC development and outlook 2
Slide 3: Details on H1 2024
1 Details on H1 2024 “H1 2024 development in line with FY 2024 guidance“ 3
Slide 4: Product mix change has a positive effect on EBITDApre margin
Product mix change has a positive effect on EBITDApre margin Sales (in mEUR) Sales split (in %) -4.0% Corporate (-2.2% FX adj.) 560.5 Composite Solutions 1.3% 538.0 12.4% Carbon Fibers Graphite Solutions 20.5% 52.8% H1 2024 H1 2023 Process Technology EBITDApre (in mEUR) 13.0% -1.7% 86.5 88.0 Key dev
Slide 5: Graphite Solutions (GS) – significantly improved profitability
Graphite Solutions (GS) – significantly improved profitability Sales (in mEUR) Key developments +1.3% Sales 284.2 280.6 • Main driver: Semiconductor & LED increase by 13% yoy, but growth slowed in Q2 2024 • Other market segments burdened by macro economic weakness and hamper BU GS growth H1 2024 H1
Slide 6: Process Technology (PT) – manages to top good figures from 2023
Process Technology (PT) – manages to top good figures from 2023 Sales (in mEUR) Key developments +8.5% Sales 69.9 • Success from 2023 continues in H1 2024 64.4 • All three regions contribute to success • Order book still well filled, but first signs of slowdown in new orders H1 2024 H1 2023 EBITDApr
Slide 7: Carbon Fibers (CF) – the perfect storm
Carbon Fibers (CF) – the perfect storm Sales (in mEUR) Key developments -12.0% Sales 125.1 • Significant sales decrease in nearly all CF market 110.1 segments due to demand weakness • Negative price trend for commodity products H1 2024 H1 2023 EBITDApre EBITDApre (in mEUR) -10.5 mEUR • Restructuring
Slide 8: Composite Solutions (CS) – Negative impact on sales and earnings
Composite Solutions (CS) – Negative impact on sales and earnings due to termination of automotive contract Sales (in mEUR) Key developments -16.0% Sales 79.6 66.9 • Termination of an automotive customer contract resulted in lower volumes and sales • Stable demand from luxury car segment for car body
Slide 9: Another solid quarter
Another solid quarter Key figures (in mEUR) Key developments • Net result*: Net result* Free cash flow (FCF) Net financial debt Positive net result in H1 2024, prior 20.1 year affected by impairment CF • Net financial debt stable leverage ratio of 0.7 119.4 115.8 12.4 • Equity ratio increased by 3.2
Slide 10: SiC development and outlook
2 SiC development and outlook “We confirm our guidance 2024” 10
Slide 11: Semiconductor demand strong, but back to healthy growth rates
Semiconductor demand strong, but back to „healthy“ growth rates Sales split GS by market segment in H1 2024 Sales split Semi/LED market segment versus H1 2023 (in %) (in mEUR) LED Si Semi SiC Semi 141.8 Industrial Applications 125.4 28.2% (30.3%) Semiconductor / 66% 82.9 61% LED Transport 49.9% (44.
Slide 12: Lower than expected growth in EVs slows rising SiC-semi demand
Lower than expected growth in EVs slows rising SiC-semi demand Electric vehicles sold per quarter Current obstacles Electric Vehicles Change [in millions] [in %] • EV represents the #1 application (70-80% share in SiC) 7 6.5 30% • Q1 2024: slowed growth in EV 20.1% 5.9 6 5.6 20% demand by end-custom
Slide 13: Growth expectations slowed, but despite delay intact
Growth expectations slowed, but despite delay intact SiC-Industry growth outlook (schematic illustration) Major topics impacting the full value chain 90 1 1• SiC Semi demand slowed due to lower than expected growth rates in EV market 80 − Slowed growth in EV demand by end-customers 70 (17% expected
Slide 14: Guidance on lower end of EBITDApre range confirmed
Guidance on lower end of EBITDApre range confirmed Sales (in mEUR) Key drivers and current trends • Long-term focus on established growth markets such as prior year level semiconductors, electromobility and renewable energies 1,007 1,136 1,089 • Growth driver remains semiconductor industry, but curr
Slide 15: Q&A We are looking forward to your questions
Q&A We are looking forward to your questions © Copyright SGL Carbon SE ® Registered trademarks of SGL Carbon SE
Slide 16: Financial calendar and IR contact details
Financial calendar and IR contact details Financial calendar Contact November 7, 2024 Investor Relations • Statement on the First Nine Months 2024 SGL Carbon SE • Conference call for investors and analysts Söhnleinstrasse 8 65201 Wiesbaden/Germany Phone: +49 611 6029-103 E-mail: Investor-Relations@s
Slide 17: SGL Carbon to report EBIT / EBITDApre (exceptionals)
SGL Carbon to report EBIT / EBITDApre (exceptionals) Definition of exceptionals (for 2024/2023) • Depreciation in accordance with IFRS: ‒ effects of impairment (IAS 36) ‒ purchase price allocations (IFRS 3) ‒ effects on assets held for sale in accordance with IFRS 5 • Restructuring expenses • Procee
Slide 18: Important Note
Important Note This presentation contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to SGL Carbon’s outlook and business development, including developments in SGL Carbon’s Graphite Solutions (GS), Process Technology (P