From the Sector

Polyurethane foam has traditionally been used to reduce noise, vibration and harshness (NVH) in vehicles, contributing to passenger comfort. At the Automotive Acoustics Conference in Constance, Germany, Autoneum presented a polyester felt-based sound insulation system that is lightweight, resilient and shapeable, thus combining best-in-class acoustic performance and precise contours with enhanced recyclability.

Flexi-Light PET is manufactured from a novel blend of polyester fibers that is primarily sourced from recycled PET. Through a state-of-the-art production process, Autoneum can adjust the fibers’ orientation to produce a proprietary felt with mechanical and acoustic properties comparable to polyurethane foam. The material is flexible and can be molded into 3D shapes, making it an ideal insulation material for interior components with complex contours, such as carpets and inner dashes.

Composed entirely of PET — up to 90% of which is recycled content — Flexi-Light PET can be used as a decoupler in conjunction with other PET-based technologies within Autoneum’s product portfolio to support full circularity, allowing for the reuse of production waste and end-of-life recycling of the product. Flexi-Light PET is the latest addition to Autoneum's Pure technologies, which are intended to offer an excellent environmental performance throughout the entire product life cycle.

This innovation builds on the Flexi-Loft technology, which is made from a blend of recycled cotton and polyester fibers and was initially introduced by Autoneum in 2021.

Modern Meadow, a U.S.-based leader in bio-design, has chosen Menabò Group as its partner for the development of the INNOVERA™ brand and the development of its global communication strategy. 
 
With over forty years of experience in integrated communication, the Italian agency led every phase of the project, from the creation of the visual identity and brand payoff to the definition of strategic positioning. Menabò also oversaw the concept, design, and content of the dedicated website; supported brand communications across online and offline touchpoints; assisted during major international trade events; and developed media relations assets for global outreach. 

INNOVERA™, previously known as BIO-VERA®, is crafted using plant-based proteins, biopolymers and recycled rubber, achieving more than 80% renewable carbon content. Completely animal-free, INNOVERA™ replicates the look and feel of collagen found in leather, yet it is lightweight, twice as strong as traditional leather, and available in various colors, haptics and finishes. 
 
INNOVERA™ is not presented as an outright alternative to animal leather, but as a lowimpact, high-performance option that tanneries and brands can offer their customers across fashion, footwear, the automotive industry, and interior design, while upholding the highest standards in aesthetics and quality. 
 
The official debut of INNOVERA™ took place at the Global Fashion Summit in Copenhagen, the premier international event for sustainable innovation in fashion, held from June 3 to 5. Alongside the product showcase, Modern Meadow contributed to the summit dialogue with the participation of its CEO David Williamson, PhD, in the panel discussion “Bio-Design Futures,” which explored the future of bio-design and the role of renewable materials. 
 
In an environment where sustainability communication demands transparency and credibility, Menabò Group shaped a storytelling approach that highlights INNOVERA™’s tangible benefits and performance qualities. With this project, the agency reinforces its international presence as a trusted partner for brands driving innovation and sustainability on a global scale. 

Autoneum's new impact protection plate, made from thermoplastic composite material, shields the battery of electric vehicles from impact, fire and corrosion. The lightweight com-ponent not only meets the highest requirements in terms of shock resistance and durability but also contributes to improved energy management and thus to a longer range thanks to its thermal insulation properties.

The ongoing transformation of the automotive industry towards an increasingly electrified mobility requires new shielding technologies to protect the battery system in electric vehicles. In this regard, Autoneum's new impact protection plate offers a high-performance, safe and cost-effective option thanks to its mechanical and thermal insulation properties, low weight and ability to withstand extreme temperatures.

Autoneum’s composite impact protection plate shields the vehicle battery from damage caused by impact, fire and corrosion. It is significantly lighter than metal alternatives and at the same time ther-mally insulating, which contributes to a longer driving range. In addition, the part meets the highest requirements for impact resistance and springs back into shape without structural loss or deforma-tion even after repeated exposure to stones and road debris. The new impact protection plate is based on long-fiber thermoplastic (LFT) technology, which allows the greatest possible freedom in terms of design and construction as well as waste-free production. Moreover, the additional rein-forcement of the basic structure ensures maximum rigidity and impact protection at minimal weight.

The impact protection plate reflects Autoneum’s technological expertise in underbody shields, ther-mal management and the application of the LFT process, adapted specifically for battery electric vehicles. The technology for the composite impact protection plate has been validated by simulations and vehicle testing at different European OEMs.

Based on preliminary figures, the CHT Group, a global supplier of specialty chemicals based in Tübingen, demonstrated its resilience and strategic foresight in the 2024 financial year. Despite volatile global conditions, the company recorded sales growth to EUR 614.3 million (+2%) and a significant increase in EBIT to EUR 21.1 million - an increase of EUR 13.4 million compared to the previous year. Growth came primarily from the APAC region (+13.7%), while the markets in EMEA (-2.5%) and the Americas (+0.4%) remained stable.

The clear future course is also evident on the investment side: at 44.2 million euros, the CHT Group invested more than ever before - particularly in the further development of digitalization, expansion of the global production sites and increasing sustainability. In Germany alone, investments amounted to 9.2 million euros, which corresponds to an increase of 124%.

Sustainability as a growth driver
Sustainability is not a trend, but has been an integral part of our corporate strategy for many years. The company is currently developing its Strategy 2030+ and continues to systematically pursue the goal of anchoring sustainability along the entire value chain.

The key sustainability targets include:

• Reduction of specific water and energy consumption by 10% by 2025
• Introduction of an energy management system at all production sites
• Increase the proportion of sales accounted for by sustainable ECO Range products to 80%
• Over 90% of the relevant purchasing volume with sustainably-certified suppliers
• Climate neutrality by 2045, with scientifically validated interim targets of the Science Based Targets initiative (SBTi):
  • Reduction of greenhouse gas emissions Scope 1+2 by 42 % by 2030,
  • Scope 3 by 25 % - CHT is aiming for a reduction of 95 % in all areas by 2045.

The sustainability strategy is based on three central pillars:

1. People – social responsibility, safe working conditions and human rights in the supply chain
2. Planet – environmental and climate protection, resource conservation, circular economy
3. Performance – sustainable products, innovation and economic stability

The globally operating company focuses on sustainable specialty chemicals solutions in markets such as textiles, paints and coatings, construction, automotive, electronics and consumer care.  The CHT Group is a foundation company and part of the Reinhold Beitlich Foundation. Its values - responsibility, innovation and sustainability - are firmly anchored in the corporate culture.

Reinforcement of the management team underlines ambitions
With the appointment of Dr. Christian Rink as CFO in October 2024 and Dr. Lorenza Sartorelli as COO on April 1, 2025, the management team was expanded in a targeted manner. Dr. Christian Rink brings extensive experience from the international foundation company Bosch, while Dr. Lorenza Sartorelli has extensive experience from the international chemicals group Evonik. These are ideal prerequisites for driving forward operational excellence, financial strategy and sustainability transformation.

Fibre and fabric production technologies – especially in the area of composite reinforcements – have played an as-yet largely unheralded role in the development of the UK’s Formula One industry, but the British Textile Machinery Association (BTMA) aims to change that.

Motorsport Valley
“If there’s one thing the UK does well, it’s Formula One, with seven of the ten F1 teams located within just an hour of each other in the midlands region known as Motorsport Valley,” explains BTMA CEO Jason Kent. “They are all linked to a national network of around 4,500 companies involved in a motorsport and high-performance engineering industry worth around £9 billion annually and employing 40,000 people. This network draws on the services of a significant number of our member companies.”

“With the exception of the engine, virtually every part of a Formula One racing car now starts from a textile, including the bodywork, the tyres and many of the latest fuel systems,” says Richard Kirkbright, project manager at Leeds-based Roaches International. “This has influenced developments in the broader automotive sector, in addition to the aerospace industry.”

Show cars and memorabilia
While best known as the developer of textile testing systems, Roaches has over the years also supplied advanced autoclaves to the UK’s composites industry, including a recent delivery to Northampton-based Memento Exclusives, a specialist in the production of show cars working directly with F1 and its leading teams.

Each major F1 team sponsor is supplied with one or two show cars for use at exhibitions and a wide range of other promotional activities arranged around the racing event calendar. These cars have no engine and their bodies may be made of fewer carbon fibre plies, but they are otherwise identical to the latest cars being raced by the F1 teams.

Memento Exclusives has its own in-house carbon fibre parts manufacturing facility and the integration of the Roaches autoclave has significantly expanded its capabilities in show car production.

Master bakers
“Composite materials undergo a metamorphosis in the autoclave which subjects them to both mechanical and chemical processes,” explains Richard Kirkbright. “Trapped air and volatiles are expelled and plies are consolidated under precise pressure. Heat cycles are then introduced, curing the resin systems and yielding flawlessly crafted components. Autoclave specialists are a little like master bakers, knowing exactly how to treat their ingredients at every stage of the process, to achieve the desired final product.”

“The Roaches autoclave now enables us to cure large components with full control and achieve a swift turnover of parts while ensuring the highest quality finish,” adds Terry Wasyliw, Head of Build for Memento Exclusives.

McLaren’s influence
Woking, UK-headquartered McLaren was the very first F1 team to introduce a car chassis manufactured entirely from carbon fibre composites back in 1981, setting the ball rolling for the creation of a completely new and global supply chain.

McLaren has this year unveiled a world-first in supercar engineering – aerospace-derived Automated Rapid Tape (ART) carbon fibre, developed at the dedicated McLaren Composites Technology Centre (MCTC) facility in Sheffield. This is being employed to create the active front wings of the W1 hypercar which has a starting price of $2.1 million.

A rear floor component was also developed for McLaren as part of the recently-completed £39.6 million ASCEND programme involving a range of UK partners, including BTMA member Cygnet Texkimp.

Handling, converting and decarbonisation
A wide range of handling and converting machines are supplied to the composites industry by Cygnet Texkimp, including bespoke creels, prepreg, coating, slitting and filament winding machines.

Its technologies are employed in the construction of composite components for aerospace and automotive, as well as in the production of tyre cord and more recently in the advanced construction of hydrogen storage vessels which are largely viewed as the future of F1 propulsion, along with advanced batteries for electric vehicles.

Cygnet Texkimp has been involved in the F1 supply chain for over 20 years and most carbon fibre used in the industry has been processed on one of its VHD creels. The company is also the largest independent manufacturer of prepreg machines in the world and is currently leading the design and build of the UK’s first carbon fibre research lines for a project led by NCC (National Composites Centre) to accelerate the development of more sustainable carbon fibres.

In addition, Cygnet is licensed to design and build the DEECOM® composite recycling system developed by new BTMA member Longworth Sustainable Recycling Technologies, the first of which was recently commissioned by the Henry Royce Institute in Manchester. DEECOM® is a zero emission, low carbon pressolysis solution using pressure and steam to reclaim pristine condition fibres and resin polymers frocm production waste and end of life composites.

“Decarbonisation is a major priority for manufacturers globally,” says Cygnet CEO Luke Vardy. “At Cygnet Texkimp, we’re developing the capability to process technical fibres in ways that enable lightweighting, hydrogen power and electrification, reduce waste and revolutionise the end-of-life management of composite materials and parts. In collaboration with our industry partners, we’re bringing to market some of the most innovative new fibre processing technologies ever developed to deliver real-world benefits that support the sustainability agenda.”

Prepregging
Another new BTMA member, Emerson & Renwick (E+R), a specialist in print, forming, vacuum and coating technologies, also supplies technology for the production of carbon fibre prepregs, which are integrated rolls of fabrics and resins.

Its most recent 1.7-metre-wide line supplied to a customer in Italy operates at speeds of 40+ metres per minute for web coatings or prepreg fibre and resin consolidation, or a combination of both processes. It is distinguished by an ultra precise three-roll reverse roll coater for the processing of high viscosity thermo-activated resins and enables the automatic changeover of sensitive woven fabric materials at zero tension, with three high precision calendaring nips with hot/cool plates. Multiple unwind and rewind systems for intermediate lamination steps include side loading and reliable lap splicing and zero speed splicing with a web accumulator for the main product rewind.
 
 E+R has also been part of a consortium working on the development of lithium-sulphur (Li-S) batteries within the £540 million UK Faraday Battery Challenge. Once commercially viable, Li-S batteries promise to provide relatively high energy density at low cost for sustainable electric vehicles of the future – inevitably starting with F1.

Strong links
“In addition to our powerful base of textile testing and control companies, many other BTMA members are working on further F1 and advanced composite projects,” says Jason Kent in conclusion. “We are also forging strong links with the UK’s key research hubs such as Sheffield University’s Advanced Manufacturing Research Centre, the Northwest Composites Centre in Manchester, the National Centre for Motorsport Engineering in Bolton and the National Composites Centre in Bristol.

“The BTMA recently became an associate member of Composites UK too, because this sector is the crucible of innovation for tomorrow’s textiles.”

Electrically conductive prints on textiles are the basis for functional textiles with electronic functions, so-called smart textiles. Conductive inks and binders must be well matched to ensure permanent conductivity even under external mechanical influences such as stretching, pressure and bending. The DITF are working on new ink formulations that meet these requirements.

Sports, fashion and the automotive industry - textiles with integrated electronics are used in many areas of everyday life. Textile-integrated electronics help monitor human vital parameter and performance data, and enable the fashion industry to integrate interactive elements into clothing. It is used in a variety of ways in the automotive industry, where it enhances passenger comfort and safety.

The most common conductive components used in textiles to date are wrapped yarns and tension-relieved conductive yarns arranged in loops. They ensure a reliable flow of electricity even in textiles subject to high mechanical stress. Their production is complex. As a result, they are expensive and only partially suitable for the mass market. Printing conductive structures on textile surfaces using screen printing or chromojet technology, a digital spray printing technique, is much more cost-effective.

However, there are several challenges in producing printed conductive textiles. One of the biggest difficulties is ensuring the conductivity of the printed materials while maintaining the flexibility and softness of the textile. In addition, the durability of the prints can deteriorate, especially with frequent washing or mechanical stress. Stretching or movement can cause the prints to break or tear. Electrical conductivity is often impaired even under low mechanical stress, when the stretching of the conductive layer is not reversible. The adhesion between the print application and the textile can weaken with repeated stretching. This results in poor long-term stability. The integration of electronic elements into textiles is also often hampered by the fact that the connection between the conductive elements and the electronic components is prone to failure.

The DITF are working on new solutions to address these challenges. The Color- and Functional-Printing Working Group is working on new ink and paste formulations based on conductive particles and elastic binders. The aim is to improve the elongation behavior of prints while maintaining good electrical conductivity. The elastic properties of the binder are largely determined by the auxiliaries and additives used. The DITF determine the interactions between these components and derive knowledge for the formulation of new elastic and highly conductive inks.

The hysteresis properties of new ink formulations are of central importance. Hysteresis refers to the ability of a material to maintain its properties under repeated strain or stress. Well-matched hysteresis supports the conductivity of printed structures even under continuous mechanical stress. Suitable materials can adapt to the movement of the textile without compromising the conductive properties.

The goal of the research team at the DITF is to expand the knowledge of the interactions between conductive particles and binders, between additives and textile auxiliaries, in order to produce highly conductive inks and pastes. This will make it possible to produce the best possible and most resistant print coatings for different textile substrates and different applications, enabling reliable conductivity.

Under these conditions, the costs for mass production of textile electronics can be reduced.

Increasingly weaker demand from key sales markets over the course of 2024 is slowing SGL Carbon's sales and earnings growth. Group sales in 2024 amounted to €1,026.4 million, down slightly by 5.8% on the prior-year level (2023: €1,089.1 million). The group's adjusted EBITDA decreased by 3.3% to €162.9 million (2023: €168.4 million).

Despite the slight decline in sales, the adjusted EBITDA margin improved from 15.5 % in the previous year to 15.9 % in 2024. This is mainly due to positive price and product mix effects.

Declining demand from the key semiconductor and automotive markets, coupled with persistently unsatisfactory demand from the wind industry, led to a decrease in volume and sales in three of four business units. Only Process Technology was able to improve its sales and adjusted EBITDA.

Earnings performance in the past fiscal year was strongly affected by non-recurring items of minus €118.5 million (2006: minus €52.9 million). These mainly included the impairment of assets of the Carbon Fibers business unit totaling €91.2 million (previous year: €44.7 million) and expenses from restructuring measures in the Carbon Fibers and Battery Solutions business lines totaling €19.0 million. After deducting one-off effects and non-recurring items as well as depreciation and amortization of €58.7 million (2023: €58.9 million), EBIT amounted to minus €14.3 million in 2024 (2023: €56.6 million).

Taking into account the financial result of minus €32.6 million (2023: minus €34.2 million) and tax expenses of €32.5 million (2023: €19.3 million), SGL Carbon recorded a net loss of €80.3 million (2023: net profit of €41.0 million) despite the solid overall business performance.

In 2024, the Carbon Fibers (CF) business unit's sales continued to decline, decreasing by 6.7% to €209.8 million (2023: €224.9 million). The decline was due in particularly to the continued low demand from the wind industry and the increasing competitive headwind resulting from global overcapacity for textile and carbon fibers.

Adjusted EBITDA in the Carbon Fibers business unit decreased by €18.2 million year-on-year to minus €11.0 million (2023: €7.2 million). The lack of fixed cost absorption led to high idle capacity costs and combined with declining margins for our fiber products, had a negative impact on adjusted EBITDA. It should be noted that the Carbon Fibers business unit included the result of the equity accounted activities (mainly the joint venture Brembo SGL Carbon Ceramic Brakes, BSCCB) in the amount of €15.8 million (2023: €18.3 million). Excluding the contribution from the equity-accounted BSCCB, the adjusted EBITDA of Carbon Fibers would amount to minus €27.0 million (2023: minus €10.9 million).

In February 2025, as part of the review of all strategic options for the Carbon Fibers, a decision was made to extensively restructure the Carbon Fibers business unit, which also includes the closure of unprofitable business activities. A complete sale of the Carbon Fibers activities was reviewed and is currently not considered feasible.

In the reporting period, sales in the Composite Solutions (CS) business unit amounted to €124.6 million, down 19.0% (2023: €153.9 million). The decline was due in particular to the premature expiration of a significant project-related supply contract with an automotive customer.

As a result of lower volumes and product mix effects, CS's adjusted EBITDA decreased by €4.0 million or 18.0% year on year to €18.2 million (2023: €22.2 million). It should be noted that the adjusted EBITDA includes a compensation payment of €3.0 million for a prematurely terminated customer contract. The adjusted EBITDA margin remained almost constant at 14.6% compared to the previous year (2023: 14.4%).

Forecast
For the year 2025, SGL Carbon expects different but overall challenging developments in their key sales markets. For the semiconductor industry and in particular for silicon carbide-based semiconductors, the demand is expected to remain moderate. The main reasons are lower than originally forecast growth rates for electric vehicles and continued high inventories at our customers site. At the earliest, demand could pick up in the second half of 2025. The company also expects a high degree of uncertainty combined with lower momentum for the automotive market segment.

The forecast for the current fiscal year 2025 takes into account all four operating business units, as they are still in the early stages of restructuring our Carbon Fibers business. Based on their assumptions regarding the development of the key sales markets, the managers expect consolidated sales for fiscal year 2025, including all business units, to be slightly below the previous year (2024: €1,026.4 million).

Taking into account all four operating business units, an adjusted EBITDA in 2025 is expected to range between €130 million and €150 million. Furthermore, the assumption is that the free cash flow at the end of the 2025 financial year - excluding payments for the planned restructuring of the CF - will be below the previous year's level but still positive (2024: €38.7 million).

Restructuring Carbon Fibers
On February 18, 2025, the Board of Management of SGL Carbon announced a restructuring of the loss-making CF business unit. This includes a significant reduction of CF's business activities and a focus on a profitable core. SGL Carbon's group sales guidance for 2025 excluding the expected sales contribution from CF would be approximately €200 million lower. On the other hand, the adjusted EBITDA for the remaining businesses excluding the operating adjusted EBITDA of CF would be between 155 – 175 million €.

“In the coming months, our work will focus on restructuring the carbon Fibers business unit and safeguarding our profitability. This includes focusing on new sales opportunities to further utilize our production capacities and strict cost management. The major trends such as digitization, climate-friendly transportation and renewable energy sources remain intact and are the drivers for our key sales markets. SGL Carbon will benefit from these trends and the associated growth opportunities in the medium and long term,” explains Andreas Klein, CEO of SGL Carbon SE.

International technology group ANDRITZ has supplied and commissioned a reXline tearing system for Buitex, Semin Group, located in Cours, France. The new production line enables the company to expand textile waste recycling for sustainable insulation production.

Founded in 1895, Buitex is a French manufacturer of high-performance recycled products. As a pioneer in circular economy practices, Buitex transforms textile waste into high-performance insulation and comfort products. Since joining the Semin Group in 2023, the company has operated a 20,000 m² production site equipped with six production lines and has become one of Europe’s major players in the circular economy.

This second ANDRITZ tearing line at Buitex increases the company’s recycling capacity while maintaining high fiber purity, thanks to an advanced hard-point removal system. The latest-generation cyclone technology further improves disruptor sorting, enhancing overall efficiency. The system can process up to an additional 2.5 tons of fiber per hour, enabling the production of recycled fibers for applications such as bedding, construction, and automotive insulation.

"It is crucial for us to make the building insulation industry more sustainable by giving new life to post-consumer clothes that would otherwise be incinerated or end up in landfills. The European market has abundant raw materials and a strong demand for sustainable insulation products. With this new line, ANDRITZ enables us to significantly enhance our recycling capabilities,” says Adam Adamowicz, CEO of Buitex.

EDANA has announced the three nominees for the FILTREX™ Innovation Award 2025, recognizing outstanding innovation in the filtration industry. The FILTREX™ Innovation Award honors innovation in the filtration sector, recognizing the ongoing commitment to excellence by manufacturers of nonwoven-based filtration products and components.

The nominees are:

GESSNER – Lignin-Saturated Cellulose Filter Media
GESSNER’s innovative lignin-saturated cellulose filter media sets a new standard in sustainable filtration. Designed to reduce your product’s carbon footprint, this eco-friendly solution replaces fossil-based resins with renewable lignin, saving up to 100 kg of crude oil per ton of material. Perfect for engine air, oil, and fuel filter elements, it combines top-tier filtration performance and durability with lower formaldehyde emissions during curing. Experience sustainability without compromise - achieve high-efficiency filtration, optional flame retardancy, and a tangible step towards a greener future with our lignin filter media.

Hollingsworth & Vose – NanoWave®ESA
Hollingsworth & Vose is a manufacturer of engineered materials. Their innovation NanoWave®ESA is an all-synthetic 3D media designed for high efficiency respiratory protection. Filters can be designed with minimum media processing while extending the filter life. It is free of PFAS, is safe to use, and can meet the demand for smaller and smaller filters without compromising on comfort. NanoWave®ESA can be produced with a stretch so that highly efficient, stretchable, breathable and drapable garment can be cut to size.

Johns Manville – Evalith®
Johns Manville, a Berkshire Hathaway company, and a leader in the filtration business with manufacturing lines in Europe and the US, has pioneered an innovative recycling process that converts post-industrial HVAC bio-soluble glass microfiber filtration media waste into compounded pellets for injection molding. The resulting pellets, with 30% glass fiber, are being used to create durable, second-life products. This eco-friendly solution prevents landfill waste, reduces CO₂ emissions, and supports a circular economy.. It ensures that the produced PP tapes from the starEX tape extrusion line are wound into perfect packages that improve productivity and fabric quality on the looms. The bevelled bobbin edges avoid that tapes come off during doffing, transport and handling and increase loom efficiency during weaving. The automatic bobbin change procedure of twinTAPE winders reduces operator work significantly, and the patented linear traverse system features an infinitely variable stroke, allowing a wide variety of bobbin designs. As the winder does not need lubrication, maintenance work is reduced to cleaning, which saves significant amounts of operator time.

Each of the three companies will have a 10-minute slot to present its innovation during the FILTREX™ 2025 event, held on 25-26 March 2025 in Vienna, Austria. Attendees will have the opportunity to cast their votes and select the winner, with the award being presented during a reception at the end of the first day.

Since its launch in 2004, FILTREX™ has established itself as the leading platform for professionals in the filtration media sector. This two-day conference gathers executives and technical experts from across the industry, including filter media producers, converters, raw material suppliers, testing equipment manufacturers, laboratories, and research institutions. The programme offers insights into market trends, cutting-edge filter materials, advancements in media design, air and liquid filtration, automotive applications, and developments in testing and standardization.

The Board of Management of SGL Carbon SE decided, with the approval of the Supervisory Board, to restructure the loss-making Carbon Fibers business unit. SGL Carbon will significantly reduce the business activities of Carbon Fibers and focus on a profitable core. Individual solutions are being developed for all Carbon Fibers sites, including the closure of unprofitable sites. On February 23, 2024, SGL Carbon had already announced that it was reviewing all strategic options for the Carbon Fibers business unit. The joint venture Brembo SGL Carbon Ceramic Brakes S.p.A. (BSCCB), which is allocated to the Carbon Fibers business unit for accounting purposes, is not affected by the restructuring.

A complete sale of the Business Unit Carbon Fibers was intensively evaluated, but is no longer considered feasible. Dr. Stephan Bühler, the responsible member of the Board of Management of SGL Carbon, explains: “We are in the initial phase of restructuring the Business Unit Carbon Fibers. We therefore ask for your understanding that we are currently unable to provide any specific details regarding individual site closures and the exact restructuring period. Our goal is to quickly begin the implementation in order to create clarity for our employees. We will begin the implementation of the restructuring as quickly as possible in order to contain the operating losses of CF and the associated impact on the entire SGL Carbon in the short term.”

The company is expecting one-time cash effects in the amount of approximately €50 million over the next two years due to the extensive restructuring.

Carbon Fibers produces textile, acrylic and carbon fibers at seven sites in Europe and North America, with around 870 employees. After a slump in demand for carbon fibers for the wind industry, the business unit's sales and earnings fell significantly in the course of fiscal years 2023 and 2024.

“The earlier expectations for carbon fibers as a future material for the automotive industry have not been fulfilled. The wind energy industry was also unable to compensate the shortfall in demand. In combination with increasing global over-capacities, high operating losses were incurred over the last two years, which weighed on the entire SGL Carbon,” said Andreas Klein, CEO of SGL Carbon, explaining the decision to restructure the Carbon Fiber business.

Preliminary sales and adjusted EBITDA 2024
Based on preliminary figures, Carbon Fibers generated sales of around €210 million in fiscal year 2024 (previous year: €224.9 million). According to preliminary figures, the negatively adjusted EBITDA of Carbon Fibers, excluding the share of the earnings of the joint venture BSCCB, amounted to around minus €27 million in fiscal year 2024 (previous year: minus €10.9 million), as expected.

The continued weak business development of Carbon Fibers also impacts the group. Based on preliminary figures, group sales of SGL Carbon amounted to approximately €1,026 million (previous year: €1,089.1 million) in fiscal year 2024. Preliminary adjusted EBITDA for the group of approximately €163 million was slightly below the prior-year level (2023: €168.4 million), but in line with the given guidance for 2024. Based on the current economic conditions and forecasts for some of our markets, such as the automotive and semiconductor industries, SGL Carbon expects the market environment to remain challenging in 2025.

Further information on the business development in 2024 and the final financial figures can be found in the SGL Carbon Annual Report, which will be published together with the outlook for the current fiscal year on March 20, 2025.