Sgl Group Ord

Ladies and gentlemen, welcome to the SGL Carbon 9 Month Results 2025 conference call. I am Moira, the Corus Call Operator. I would like to remind you that all participants will be in listen-only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Claudia Kellert. Please go ahead.

Yes, thank you. Yes, a very warm welcome and thanks for your interest to our conference call today. Andrea Klein and Thomas DePaul will present our nine-month figures, inform you about the status of our carbon fiber restructuring, and give you some more insights about our expectations for the upcoming months. After the presentation, we look forward to answering your questions. But let's start with the financials. I hand over to Thomas DePolt.

Thank you, Claudia. Hello, also from my side. This is Thomas DePolt. I'm happy to guide you through the performance of our nine-month figures. And I jump directly to the overview of our group performance on slide number five. We have reached, after nine months, 2025, 653 million Euro in sales in our top line, which is 16.5% lower than last year at that nine-month timeframe. And in the end, we lose 130 million. This is quite remarkable, and there are two effects behind it. On the one hand side, there is a continuous weakness in our demand from semiconductors, and the second is that we restructure our carbon fiber business unit and therefore also lose some unprofitable sales, and both effects together with the cost savings and cost measures that we have undertaken level more or less out. As you can see that also in our EBITDA pre on the same slide, we have reached 108.6 million euro in the first nine months of 2025, which is roughly 50% less than last year. And as you can see, our profitability, despite the impact from our high margin silicon carbide business, which goes down so massively, and we see that on the next slide, we still can manage it on this level. that our EBDA goes down, not proportionally as the sales, but even lower. And therefore, our EBDA pre-margin even slightly increases to 16.6% compared to 16.3% after the first three quarters of last year. I think that's a quite remarkable achievement that we see here. On the one hand side, how we manage the restructuring of our carbon fiber side, we are I'm very happy with the progress that we did there. After such a few couple of months that we are conducting this, we closed down more or less two sites. Labadeo site is more or less closed. Moses Lake site in the U.S. is idled, and we stopped production there, and therefore adjusted the workforce quite massively. And with these effects, together with the overall cost savings that we put in place, we are able to to manage the downturn in the silk and carbide business, which is a business where the margin exceeds the cost quite significantly, and therefore it's hard to compensate on that, but we achieved that. And I also say here for the first time in this call, we confirm our guidance. I want to make this very clear that we have adjusted our top line sales previously this year, let me say 10 to 15% lower than last year. but the EBITDA pre will be in the range of 130 to 150. This is what we can say today. I think the split of the sales, I mean, is very much the same as in previous quarters. A graphite solution is still dominating our business by far, and this is also why the impact of this very profitable business hits us so hard. Coming to the individual business units, You see on slide number six the performance of Graphite Solution, and here exactly the impact that we're all talking about. We have a 21% drop in our sales after the first three quarters of the relevant years compared to last year, now reaching only 325.7 million euro sales in this business unit. The downturn, the impact of 87 million drop in the top line can be almost exclusively contributed to the downturn of our business line, semiconductor and LED. You see here in the comments, 77 million euro is the downturn in this business line, almost a drop by 40%. This gets compensated because the other businesses are rather stable. that the overall impact is then just roughly 20%. But thanks to the high profitability in this business, our EBITDA-3 gets hit by 44%, now reaching 58.2%, which is at a drop by 46 million euro. And this shows how profitable this business are and how dependent we can say we are profit-wise on that. We will come to that and the development. Andreas will elaborate a little bit. But our EVDA pre-margin dropped from 25% to now 18%.