SGL has reported group sales of €263 million, up by about 22% from €216.3 million in the previous year, due to positive one-time effects and a good operational development, the company said.

Key drivers of the operational sales increase were reportedly the improved performance of SGL’s automotive, semiconductors and LED, chemicals as well as industrial applications market segments.

The company’s composites segment increased its sales revenues by 22.9% (currency adjusted by 26%), to reach €115.0 million, up from €93.6 million, while sales in the textile fibers and wind segments declined compared to prior year level. The highest earnings improvement was recorded in sutomotive, primarily resulting from the full consolidation of SGL Composites (previously SGL ACF).

As a result, SGL Group says that it now expects a consolidated net result in the lower double-digit million euro range for full year 2018 and says sales will increase by approximately 10%. This includes a sales increase of approximately 25% primarily as a result of acquisitions for composites, while dales with the automotive industry should more than double. At the same time sales with the wind industry could decrease by about one third, owing to the deconsolidation of a former joint venture as well a sthe weaker customer demand. SGL says that sales should slightly increase in aerospace, while sales in industrial applications and textile fibers should remain around the level of the previous year.

‘Following the good financial year 2017, we are continuing our positive development this year,’ said Dr Jürgen Köhler, CEO. ‘The new SGL remains on a growth track.’

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.