From the Sector

With the Fraunhofer Innovation Platform for Fibers, Processing and Recycling Solutions at Innovative Composite Center FIP-MIRAI@ICC, the Fraunhofer Institute for Casting, Composite and Processing Technology IGCV and the Innovative Composite Center (ICC), Kanazawa Institute of Technology (KIT) in Kanazawa area are setting new standards in the circular economy. With a total budget of 2 million euros - half funded by the Fraunhofer-Society and half by the ICC - the platform aims to develop solutions to global challenges in the field of composite recycling. A Fraunhofer Innovation Platform (FIP) is a temporary research unit hosted and operated by a research institution abroad, which is set up in close cooperation with one or more Fraunhofer Institutes in Germany. With “Mirai”, the Japanese word for “future”, the FIP-MIRAI@ICC sends out a clear signal: Waste is seen as a valuable resource and reused through new technologies. The aim is to create a forward-looking circular economy that guarantees sustainability for future generations. At the heart of the five-year cooperation (2025-2029) is a central location in Kanazawa area, which brings together researchers from the Fraunhofer IGCV and the ICC with companies, universities and customers.

Global challenges as an opportunity for innovation
The increasing use of composite materials in industries such as aerospace, wind energy and sports is leading to rising volumes of hard-to-recycle waste. As early as 2023, 75 kilotons of carbon fiber waste were produced worldwide, and 350 kilotons are expected by 2028 in aviation alone. The growing use of hydrogen technologies in mobility and transportation will further exacerbate this problem.

Technological innovations for sustainability
The German-Japanese collaboration pools technological expertise: the Fraunhofer IGCV contributes its expertise in fiber-matrix separation, quality assurance of recyclates and the wet-laid process, while the ICC contributes its pressing processes and continuous double-belt press technology. Together, this creates a unique “one-stop-shop” offering for companies looking for solutions for the recycling of composite materials.

Appearance at the JEC World 2025
A first insight into the work of FIP-MIRAI@ICC will be provided at JEC World 2025 in Paris, where the platform will be represented at the Japan Pavilion. Companies, researchers and industry experts are invited to visit the stand and discuss the latest developments.

A boost for the circular economy
FIP-MIRAI@ICC aims to act as a catalyst for sustainable technologies and transform waste streams into valuable resources. The close partnership between German and Japanese players paves the way for a sustainable and future-proof industry. With this initiative, science and industry are joining forces to turn global challenges into opportunities. With the vision of promoting ecological and economic sustainability, FIP-MIRAI@ICC is setting new standards in international cooperation.

At this year's JEC Composites Innovation Awards ceremony, the award in the "Construction & Civil Engineering" category went to the "DACCUSS" project, coordinated by the DITF. TechnoCarbon Technologies GbR, the inventor of Carbon Fiber Stone (CFS), received the JEC Award together with its development partners. The award is for the development of house walls made of Carbon Fiber Stone (CFS), a CO2 negative composite material.

Each year, the JEC Composites Innovation Awards recognize innovative and creative projects that demonstrate the full potential of composite materials. With the help of a development team from 12 companies and research institutions, TechnoCarbon Technologies GbR successfully submitted its innovative DACCUSS building element for house walls made of Carbon Fiber Stone.

Carbon Fiber Stone is a building material made of natural rocks and bio-based carbon fibers. It serves as an environmentally friendly replacement for CO2-intensive concrete in the construction industry. While conventional concrete walls release large amounts of CO2 during production, the DACCUS building element binds 59 kg of CO2 per square meter and therefore has a negative carbon footprint. In addition, the panels weigh only one-third of equivalent reinforced concrete house walls.

Each DACCUS element consists of several high-strength natural stone slabs made from magmatic rock. Inside the construction are bio-based carbon fibers, which the DITF Denkendorf is working intensively to develop. They form the stiffening element that enables the high strength of the construction elements and, in turn, contribute to the negative CO2 balance. The layer between the natural rock slabs is filled with carbon-negative biochar granulate, which is responsible for the insulation of the building element. The mineral sawdust from the cut rock slabs can be used as a soil amendment and serves as a binder for free CO2 from the atmosphere. The strict focus on processes and materials that actively bind CO2 has made it possible to produce a building material with a negative CO2 balance.

Partners: Deutsche Institute für Textil- und Faserforschung Denkendorf (DITF), TechnoCarbon Technologies GbR, Universität Hamburg (UHH), Labor für Stahl- und Leichtmetallbau GmbH (LSL), AHP GmbH & Co. KG, Technische Universität München (TUM), GVU mbH, Silicon Kingdom Holding Ltd., Gallehr Sustainable Risk Management GmbH, Peer Technologies GmbH & Co. KG, GREIN srl, Convoris Group GmbH, RecyCoal GmbH, ITA, Institut für Textiltechnik der RWTH Aachen, LISD GmbH.

Weak demand in some of their customer markets is increasingly hindering SGL Carbon's sales growth. After nine months in 2024, SGL Carbon generated sales of €781.9 million, which was slightly below the prior-year level at minus 4.8% (9M 2023: €821.7 million). Adjusted for currency and structural effects, Group sales decreased by 3.6%. Adjusted EBITDA, an important key figure for the Group, remained at a comparable level of €127.6 million in the reporting period (9M 2023: €130.0 million). Despite the slight decrease in sales, the adjusted EBITDA margin improved from 15.4% in Q1 and 16.7% in Q2 to 16.9% in Q3 and amounted to 16.3% after nine months (9M 2023: 15.8%). The reasons for the improved adjusted EBITDA margin are, in particular, product mix effects in the Graphite Solutions and Process Technology business units. By contrast, the ongoing weakness in demand and the associated price pressure for carbon and textile fiber products in the Carbon Fibers business unit continued to weigh on the Group's sales and earnings development.

“Even with our diversified product portfolio, we can no longer completely withdraw from the generally weak economic environment. In addition, there was a decline in demand for specialty graphite products for the semiconductor industry in the third quarter. In particular, our products for the manufacture of silicon carbide-based semiconductors are suffering from the restrained demand for electric vehicles on the customer side,” explains CEO Dr. Torsten Derr. “While the last 18 months were characterized by enormous demand for silicon carbide semiconductors and insufficient production capacities, the market has cooled down significantly. Due to a lack of demand from the automotive industry, our semiconductor customers have significantly reduced order volumes. We do not expect to see a significant upturn in demand for our specialty graphite products until the sales figures for electric vehicles pick up again.”

Based on the adjusted EBITDA of €127.6 million and taking into account depreciation and amortization of €41.0 million (9M 2023: €43.3 million) and one-off effects as well as non-recurring items of minus €18.3 million (9M 2023: minus €47.2 million), EBIT after nine months of 2024 will be €68.3 million (9M 2023: €39.5 million). The one-off effects and non-recurring items result, among other things, from the restructuring measures at Carbon Fibers and the Battery Solutions business line as well as from expenses for a strategy project. When comparing with the previous year, it should be noted that the first nine months of 2023 were disproportionately affected by an impairment loss on the assets of Carbon Fibers (€44.7 million).

Development of the business units
The Carbon Fibers business unit's sales for the first nine months of 2024 amounted to €157.1 million, significantly below the figure of €179.6 million for the prior-year period. The decline is due in particular to the continued weak demand from the wind industry and to the increasing competitive pressure resulting from global overcapacities for carbon and textile fibers.

Idle production capacities and the associated lack of fixed cost absorption as well as declining margins for commodity products led to a further deterioration in the adjusted EBITDA of the Carbon Fibers. The adjusted EBITDA of the Carbon Fibers business unit fell to minus €7.9 million in the first nine months of 2024 (9M 2023: €3.2 million). It should be noted that the adjusted EBITDA of the Carbon Fibers business unit includes an earnings contribution of €11.6 million from the joint venture BSCCB, which is accounted for At-Equity (9M 2023: €14.1 million). Excluding this contribution from the At-Equity accounted BSCCB, the adjusted EBITDA of Carbon Fibers would have been minus €19.6 million (9M 2023: minus €10.5 million).

SGL Carbon assumes that demand for carbon fibers will not recover in the coming months and that the realizable prices for these products will remain at a low level beyond 2025. Therefore, SGL Carbon anticipates that the expected improvement in sales and earnings for the Carbon Fibers segment will be delayed and is revising its existing mid-term planning for this segment. Due to the expected deviation, an ad hoc impairment test is currently being carried out. This indicates a non-cash impairment charge of €60–80 million, which will be recognized in Q4 2024. The structured transaction process initiated for Carbon Fibers is still ongoing.

Sales in the Composite Solutions business unit amounted to €95.8 million in the first nine months of 2024, down 16.2% (9M 2023: €114.3 million). The decline is due in particular to the early termination of a project-related supply contract with an automotive customer. Furthermore, the lower sales figures for electric vehicles are also having an impact on Composite Solutions.

Adjusted EBITDA in Composite Solutions fell from €16.6 million in the prior-year period to €10.7 million (minus 35.5%), due in particular to lower volumes. The adjusted EBITDA margin weakened accordingly to 11.2% (9M 2023: 14.5%).

Outlook
Macroeconomic conditions, lower than expected sales volumes in some customer groups and price pressure for commodity products are increasingly hindering SGL Carbon's growth ambitions. Thomas Dippold, CFO of SGL Carbon, explains: “Due to the diverse and diversified industrial applications of our products and our strict cost management, we continue to expect to achieve our guidance for 2024 at the lower end of the range of €160–170 million. The coming months will not be easier. We need to prepare for a flat demand development in some of our sales markets.”

The Teijin Group companies Teijin Carbon America, Renegade Materials and Teijin Aramid will participate in CAMX. the largest, most comprehensive composites and advanced materials event in North America, in San Diego, USA. At the TEIJIN booth, visitors can explore innovative composite solutions and learn about the comprehensive technical support and provided services.

Teijin's diverse network of materials companies excels across various fields, ranging from high-performance carbon and aramid fibers to cutting-edge industrial textiles and revolutionary, cost-effective prepreg composite solutions. The shared commitment to quality, innovation, and environmental responsibility unites Teijin in their mission to deliver eco-friendly solutions across multiple industries and applications, including pressure vessels, aerospace, and both defense and commercial aircraft construction.

Teijin’s dedication to acquiring appropriate certifications for sustainable production and product development underscores the high level of commitment to lead in this field. In the past years, Teijin has continuously striven to minimize their carbon footprint and global impact, while also supporting customers on their own sustainability journeys. This year, Teijin Aramid achieved the EcoVadis Gold Medal recognition, placing the company in the top 5% of all companies across all industries globally and in the top 3% of all man-made fiber manufacturers worldwide.

Teijin Carbon has been awarded the ISCC Plus certification for its production in Germany and Japan and is on track to receive the same certification in the U.S. in the coming months. This accreditation allows the Teijin Carbon Group to prove to its customers sustainable products that contribute to a circular economy. Teijin Carbon is diligently working toward establishing new sustainability standards, promoting ecological innovations, and fostering partnerships for a more sustainable world.

Teijin is looking forward to engaging with customers and partners at CAMX 2024 in San Diego to discuss innovative ideas for the circular economy and recycling processes.

Teijin Carbon is one of the world's leading manufacturers of Tenax™ carbon fibers and carbon fiber-based materials, with production sites in the US, Germany, Japan and Vietnam. Teijin Carbon develops solutions for the aerospace, automotive, energy, electronics and sporting goods industries using high-performance technologies in an international environment. They work closely with their partners to create a fully circular value chain. The goal to make Teijin’s products net CO₂-free by 2050 aligns with the commitment to global society to find solutions and take action to combat it.

As a manufacturer of intermediate materials in the US, Renegade Materials is known for its product expertise and commitment to customer satisfaction. Renegade Materials distinguishes itself by merging cutting-edge materials science with advanced prepreg manufacturing and testing equipment, all meticulously controlled by rigorous quality management systems. Renegade is steadfast in their commitment to the development and largescale production of advanced, multi-functional materials that offer engineered solutions to the current composite design, usage and affordability initiatives in the aerospace industry.

Teijin Aramid is a global leader in high-performance aramid fiber, a subsidiary of the global Teijin Group. Specializing in high-performance aramid fibers, their materials are used in automotive and aerospace industries, ballistic protection and more.

• Graphite Solutions with slight sales growth and positive margin development
• Process Technology again improves on good prior-year figures
• Weak demand in Carbon Fibers continues to impact Group sales and profitability
• Despite slight decline in sales (-4.0%), EBITDA margin improves from 15.7% to 16.1% compared to the first half of the previous year
• Outlook for 2024 confirmed

Q2 2024 confirms SGL Carbon's business development in an increasingly volatile market environment. After €272.6 million in Q1 and €265.4 million in Q2, SGL Carbon generated consolidated sales of €538.0 million in the first half of 2024 (H1 2023: €560.5 million). This corresponds to a slight decrease of 4.0% compared to the prior year period; adjusted for currency effects, Group sales decreased by only 2.2%. By contrast, adjusted EBITDA, an important key figure for the Group, remained almost constant year-on-year at €86.5 million (H1 2023: €88.0 million). The adjusted EBITDA margin improved from 15.7% to 16.1%, in particular due to the continued positive sales trend in the Semiconductor market segment and the associated change in the product mix. On the other hand, the persistently weak demand in the Carbon Fibers business unit continued to weigh on the Group's sales and earnings
performance.

Outlook
The current volatile development in some of their sales markets, which in some cases is below expectations, affects the expected sales and earnings performance of the business units. Due to the company's diversified business model, changes in demand for certain products can be largely offset by higher-than-expected sales in other businesses. SGL Carbon therefore continued to expect to achieve the forecast which was issued in March for the SGL Carbon Group at the lower end of the stated range. For fiscal year 2024, SGL Carbon expects Group sales to be at the previous year's level (2023: €1,089.1 million) and adjusted EBITDA at Group level to be between €160 million and €170 million.

Thomas Dippold, CFO of SGL Carbon, explains: “One of our most important market segments is the semiconductor industry and in particular the demand for graphite components for the production of silicon carbide-based semiconductors. These are used primarily in electric vehicles due to their higher efficiency and performance. In the first half of 2024, global demand for electric vehicles slowed compared to the growth in previous quarters, and a return to the previous year's growth rates is not expected in the coming months. In addition, there are high inventory levels in the semiconductor value chain, which are also impacting demand for our products. Even if we assume that the market for high-performance semiconductors for electric vehicles will continue to grow significantly in the future, we expect demand for our specialty graphite components for the production of SiC-based semiconductors to slow down in the second half of 2024. For Graphite Solutions, however, we continue to expect sales and adjusted EBITDA to be above the previous year."

On the other hand, other market segments are developing better than expected and can thus compensate for fluctuations in demand within the SGL Carbon Group. Taking into account the business unit developments in the first half of 2024 and the expected trends for their key sales markets, the Company expects to meet its forecast for sales and adjusted EBITDA in fiscal year 2024 at the lower end of the announced range.

Stratasys Ltd. is announcing updates to several Industrial and Healthcare Business Unit products and Stratasys Direct. These include a new open platform for the F900™ 3D printer, more on-demand 3D printing capabilities and a new high-performance material for its Fused Deposition Modeling line.

OpenAM comes to the F900
Stratasys OpenAM™ is a software application that enables the user to modify machine controls to achieve results beyond standard print settings. Already available for the Fortus 450®mc printer, Stratasys is now making its OpenAM software available for the F900 printer. This will allow for expanded functionality and capabilities and will unlock new materials for F900 users.

New VICTREX AM 200 material for FDM
A new material offering that opens the application potential for demanding industries like aerospace and medical, where material properties are critical components of a 3D-printed solutions. This new high-performance, high-strength, validated material, VICTREX AM™ 200, will be available for the Fortus 450mc and the F900. VICTREX AM 200 is a PEEK-based polymer that is temperature, corrosion, and chemical resistant, with excellent mechanical properties which can be utilized with soluble and breakaway support material.

Carbon Fiber Visual Print Option for the F-Series
Carbon Fiber Visual Print Option is a new 5-slice (0.005”) layer height across the F-123 Series™ line of printers that is coming later this month for FDM®ABS-CF10. It produces a smoother surface finish, to provide the perfect finish when a part’s visual appearance is important to the application. It is built for applications that demand the durability of a carbon-filled polymer, but also requires a visually appealing result without additional post-processing.

F770 adds New Colors
The F770® printer can now print in multiple colors, in addition to its original single ivory color. Six new ASA colors, including red, white, light gray, black, blue, and yellow, will allow for more application versatility with FDM® ASA and ABS-M30 tried-and-true engineering plastics. The new colors enable printing without painting or other post-production marking, allowing parts to be available much faster, increasing productivity.

Somos NeXt Validated for SLA
Somos® NeXt™ is now a validated material for Stratasys NEO® stereolithography 3D printers. Somos NeXt is a resin with superior strength and can be used in automotive and consumer products, along with other applications, including prototyping, to produce durable, accurate and detailed parts.

New GrabCAD Software Print Integration Enhances On-Demand 3D Printing Capabilities
Stratasys has introduced Parts on Demand by GrabCAD, a new integration that synchronizes the company's software platform with Stratasys Direct. This addition allows GrabCAD Print™ customers to access Stratasys Direct’s fleet of 3D printers, allowing for larger and more intricate designs, a selection of more than 50 engineered materials, and the assurance of stringent quality inspections.

British technology company Hypetex has been awarded a significant grant from Innovate UK to develop the world’s first technical coloured flax fibre, which will have applications in the sustainable manufacturing of cars, boats and other products that are usually made with carbon fibre.

Called FlaxTex the material is strong, lightweight and 100 per cent biodegradable, having a net positive carbon footprint at point of manufacturing. It can be colourised whilst enhancing its performance properties, with the process adding some important manufacturing attributes compared to standard flax fibre.

As such, FlaxTex’s mechanical properties represent the closest sustainable substitute for robust and lightweight materials like glass fibre and carbon fibre in composite structures.  

The performance of standard flax fibre is often hindered by its high moisture absorption, resulting in reduced structural integrity when used in composite construction. In addition, the natural brown colour of flax has been deemed unappealing for product use.

Flaxtex solves these issues by removing moisture through the colouring process and sealing the fibres, which waterproofs them and enabling their core mechanical properties. Hypetex’s patented nano-pigment technology changes the colour adding an aesthetic quality to the material.  

This colouring process is set to transform industrial design possibilities of Flax natural fibres by enhancing the strength and performance while simultaneously reducing post-processing requirements and total energy usage. This also aligns with Hypetex's commitment to supporting the green transition and helping manufacturers meet government expectations on the path to UK Net Zero targets and the European Green Deal.

Over the course of a 12-month industrial research project, Hypetex will further optimize its resin systems and processes, expanding the use of FlaxTex across various markets.  

FlaxTex has a range of industry uses, including on construction, automotive, sports equipment and furniture products.

• Three out of four business units with record sales and results
• Carbon Fibers business weighs on the Group's profitability
• Group sales of €1,089.1 million (-4.1%) and adjusted EBITDA of €168.4 million (-2.5%) in a difficult market environment
• Sales and earnings forecast for 2023 achieved despite drop in demand from key market
• 2024 further capacity expansion in graphite components for silicon carbide-based semiconductors

In fiscal year 2023, SGL Carbon achieved the sales and earnings targets set at the beginning of the year despite the drop in demand from the important wind market and an increasingly challenging economic environment. Group sales decreased slightly by €46.8 million (minus 4.1%) to €1,089.1 million (previous year: €1,135.9 million). At € 168.4 million, adjusted EBITDA, a key performance indicator for the Group, was also down slightly (minus 2.5%) compared to the previous year (€172.8 million) but was clearly within the forecast range for 2023 of €160 to 180 million.

While the positive sales development of the Graphite Solutions (+€53.5 million to €565.7 million), Process Technology (+€21.6 million to €127.9 million) and Composite Solutions (+€0.8 million to €153.9 million) business units had a positive effect, the Carbon Fibers business unit had a negative impact on Group sales with a sales decline of €122.3 million to €224.9 million.

Outlook
The global economy will continue to face comparatively high interest rates and subdued growth prospects in 2024. Tighter financing conditions, weak trade growth and a decline in business and consumer confidence are also weighing on the economic outlook. In addition, heightened geopolitical tensions are contributing to increased uncertainty.

SGL Carbon expects different developments in our key sales markets in 2024. The most important sales and earnings driver will be demand for specialty graphite components for the semiconductor industry. In contrast, all indicators currently suggest that demand for carbon fibers for the wind industry will remain weak in 2024 and that the Carbon Fibers (CF) business unit will therefore continue to record operating losses. Even if demand picks up, SGL Carbon assumes that Carbon Fibers will require additional resources to make the most of market opportunities. With this in mind, teh company announced on February 23, 2024, that they are reviewing all strategic options for Carbon Fibers. These also include a possible partial or complete sale of the business unit.

SGL Carbon's sales forecast for the financial year 2024 takes all four operating business units into account, as the company is only at the beginning of evaluating the strategic options for CF. In line with the assumptions outlined, SGL Carbon is therefore expecting Group sales at the previous year's level (2023: €1,089.1 million).

In the earnings forecast, SGL Carbon has taken into account underutilization of production capacity in the Carbon Fibers business unit and the associated high idle capacity costs. The projected operating loss of CF will have a negative impact on the adjusted EBITDA of the SGL Carbon Group in 2024. Due to the expected positive development of Graphite Solutions, SGL Carbon anticipates an adjusted EBITDA of between €160 million and €170 million for fiscal year 2024, taking into account all four operating business units. Should the process of reviewing all strategic options for the CF business unit result in a sale, the forecast of adjusted EBITDA in 2024 would be between €180 - 190 million.

The German Institutes of Textile and Fiber Research Denkendorf (DITF) have modernized and expanded their melt spinning pilot plant with support from the State of Baden-Württemberg. The new facility enables research into new spinning processes, fiber functionalization and sustainable fibers made from biodegradable and bio-based polymers.

In the field of melt spinning, the DITF are working on several pioneering research areas, for example the development of various fibers for medical implants or fibers made from polylactide, a sustainable bio-based polyester. Other focal points include the development of flame-retardant polyamides and their processing into fibers for carpet and automotive applications as well as the development of carbon fibers from melt-spun precursors. The development of a bio-based alternative to petroleum-based polyethylene terephthalate (PET) fibers into polyethylene furanoate (PEF) fibers is also new. Bicomponent spinning technology, in which the fibers can be produced from two different components, plays a particularly important role, too.

Since polyamide (PA) and many other polymers were developed more than 85 years ago, various melt-spun fibers have revolutionized the textile world. In the field of technical textiles, they can have on a variety of functions: depending on their exact composition, they can for example be electrically conductive or luminescent. They can also show antimicrobial properties and be flame-retardant. They are suitable for lightweight construction, for medical applications or for insulating buildings.

In order to protect the environment and resources, the use of bio-based fibers will be increased in the future with a special focus on easy-to-recycle fibers. To this end, the DITF are conducting research into sustainable polyamides, polyesters and polyolefins as well as many other polymers. Many 'classic', that is, petroleum-based polymers cannot or only insufficiently be broken down into their components or recycled directly after use. An important goal of new research work is therefore to further establish systematic recycling methods to produce fibers of the highest possible quality.

For these forward-looking tasks, a bicomponent spinning plant from Oerlikon Neumag was set up and commissioned on an industrial scale at the DITF in January. The BCF process (bulk continuous filaments) allows special bundling, bulking and processing of the (multifilament) fibers. This process enables the large-scale synthesis of carpet yarns as well as staple fiber production, a unique feature in a public research institute. The system is supplemented by a so-called spinline rheometer. This allows a range of measurement-specific chemical and physical data to be recorded online and inline, which will contribute to a better understanding of fiber formation. In addition, a new compounder will be used for the development of functionalized polymers and for the energy-saving thermomechanical recycling of textile waste.

SGL Carbon SE is currently evaluating various strategic options for the Business Unit Carbon Fibers (CF). These include a possible partial or complete divestment of the Business Unit. In a first step, potential interested parties shall be approached with the general data of the Business Unit to determine their interest in an acquisition. If there is sufficient interest, a structured transaction process will be carried out in a second step. Overall, a share of sales amounting to around € 179.6 million after nine months in 2023 (9M 2022: € 269.0 million) is therefore under review. The CF sales share corresponded to 21.9% of SGL Carbon's consolidated sales after nine months in 2023 (9M 2022: 31.5%). Adjusted EBITDA of the Business Unit excluding the result from joint ventures amounted to minus € 10,9 million after nine months in 2023 (9M 2022: € 27,9 million). Despite the operating loss of CF after nine months in 2023, SGL Carbon maintains its guidance for fiscal year 2023. This shows the positive development of the three other business units and the resilience of SGL Carbon's business model.

Carbon Fibers manufactures textile, acrylic and carbon fibers as well as composite materials at seven locations in Europe and North America. Following the temporary drop in demand for carbon fibers from the important wind industry market, the Business Unit's sales and earnings fell significantly in the course of fiscal year 2023. Due to the importance of the wind industry for the European Green Deal, SGL Carbon and many experts assumed that the wind industry recovers quickly. Unfortunately, this is currently not the case. Even if demand picks up, the company assumes that Carbon Fibers will need additional resources to remain competitive in the international market environment and to exploit market opportunities in the best possible way. Against this background, SGL Carbon is reviewing all possibilities to support a positive further development of the Carbon Fibers Business Unit.