SGL Carbon reports 2020 consolidated sales of €919.4 million, 15% less than €1,087 million in 2019.

Consolidated net sales were -€132.2 million, compared to -€90.0 million in 2019.

SGL’s composite business sales fell by around 9% to €391.3 million, down from €431.6 million in the same period of the previous year, while its graphite materials segment reported sales of €495.4 million, a decrease of almost 20% compared to €622.5 million in 2019.

SGL Carbon’s board has reportedly put in place a restructuring which includes dividing its business units into four homogeneously tailored divisions and lay off 500 employees. According to the company, it will be carrying out cost saving measures and improvements in production, purchasing, sales and administration. The program is scheduled to result in recurring savings of more than €100 million by 2023 (compared to 2019).

‘In the fiscal year 2020, the Covid-19 pandemic had a major impact on the business development of SGL Carbon,’ the company said. ‘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.

‘Following the dramatic economic slump seen in 2020, we anticipate that fiscal year 2021 will be marked by a moderate recovery. Sales should be above the level of the previous year (2020: €919.4 million), within the range of €920 million to €970 million.’

This story uses material from SGL, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.