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25.03.2024

SGL Carbon: CEO Dr. Torsten Derr will not extend contract

The CEO of SGL Carbon SE, Dr. Torsten Derr, informed the Chairman of the Supervisory Board today that he will not extend his contract, which expires on May 31, 2025. Dr. Derr will continue his duties until the new CEO is appointed, at the latest until May 31, 2025.

“SGL Carbon is once again a strong and stable company whose profitable development I will continue to work on with all my strength until the last day. But even without me, my colleague on the Board of Management, Thomas Dippold, and the team will continue to develop the company successfully. The last almost four years have always been the achievement of the entire SGL team. SGL Carbon is now sailing in stable waters and my transformation work will therefore be completed shortly,” explains Dr. Torsten Derr.

The CEO of SGL Carbon SE, Dr. Torsten Derr, informed the Chairman of the Supervisory Board today that he will not extend his contract, which expires on May 31, 2025. Dr. Derr will continue his duties until the new CEO is appointed, at the latest until May 31, 2025.

“SGL Carbon is once again a strong and stable company whose profitable development I will continue to work on with all my strength until the last day. But even without me, my colleague on the Board of Management, Thomas Dippold, and the team will continue to develop the company successfully. The last almost four years have always been the achievement of the entire SGL team. SGL Carbon is now sailing in stable waters and my transformation work will therefore be completed shortly,” explains Dr. Torsten Derr.

“We are grateful to Dr. Derr for talking to us early on and in a spirit of trust. This will allow us to take our time in arranging his succession. SGL Carbon can look back on three successful financial years, is financially strong and relies on a broad-based management team that continues to drive forward the expansion of the business in strong growth markets. In our appreciative discussions, Dr. Derr has promised to complete all important projects with his usual commitment until the handover of the CEO position,” says Prof. Dr. Frank Richter.

The Supervisory Board will immediately begin the search for a successor to Dr. Torsten Derr.

More information:
SGL Carbon SE CEO management
Source:

SGL Carbon SE

Freudenberg Performance Materials: Dr. Andreas Raps new CEO and Marco Altherr new CFO (c) Freudenberg Performance Materials
Dr. Andreas Raps, CEO from January 1, 2024
15.11.2023

Freudenberg Performance Materials: Dr. Andreas Raps new CEO and Marco Altherr new CFO

New appointments to the Management Board of Freudenberg Performance Materials come into effect on January 1, 2024: Dr. Andreas Raps succeeds Dr. Frank Heislitz as Chief Executive Officer (CEO), and Marco Altherr takes over from Thomas Herr as Chief Financial Officer (CFO). From January 1, 2024, the Management Board of Freudenberg Performance Materials will therefore consist of: Dr. Andreas Raps (CEO), Marco Altherr (CFO) and John McNabb (CTO). McNabb has been CTO since 2018. Dr. Frank Heislitz and Thomas Herr become members of the Freudenberg Group Board of Management on January 1, 2024.

New appointments to the Management Board of Freudenberg Performance Materials come into effect on January 1, 2024: Dr. Andreas Raps succeeds Dr. Frank Heislitz as Chief Executive Officer (CEO), and Marco Altherr takes over from Thomas Herr as Chief Financial Officer (CFO). From January 1, 2024, the Management Board of Freudenberg Performance Materials will therefore consist of: Dr. Andreas Raps (CEO), Marco Altherr (CFO) and John McNabb (CTO). McNabb has been CTO since 2018. Dr. Frank Heislitz and Thomas Herr become members of the Freudenberg Group Board of Management on January 1, 2024.

Dr. Andreas Raps has been a member of the Freudenberg SE Executive Council since 2020 and CEO of EagleBurgmann, a joint venture between the Japanese EKK Group and the Freudenberg Group, since 2016. He previously held several executive management positions at Freudenberg Sealing Technologies from 2004, most recently as CEO of the global Special Sealing Division with 17 manufacturing sites worldwide. Before joining the Freudenberg Group, Raps worked for various management consulting companies in Boston, USA, Munich, Germany, and Zurich, Switzerland. He holds an MBA from the University of Passau. Alongside his job as a consultant, he obtained a PhD with a thesis on strategy implementation in Business Administration. 

Marco Altherr has been CFO of Vibracoustic SE, a Freudenberg Group company, since 2020. He held various senior management positions at Freudenberg & Co. KG, the technology group’s holding company, from 2015 to 2020, most recently as Head of Corporate Controlling and Accounting. Prior to joining Freudenberg, he served in several management roles at Manroland AG, Heidelberger Druckmaschinen, Boehringer Ingelheim and Arthur Andersen. He holds a degree in business administration specializing in controlling and financing from Lahr University.

16.05.2023

Change of management at ERWO Holding AG and Hoftex Group AG

Klaus Steger (64), CEO of ERWO Holding AG (“ERWO Holding”) and Hoftex Group AG (“Hoftex Group”), will step down from the Management Board of both companies at the beginning of 2024 in accordance with internal policies of the family and the company regarding the retirement age. Already on June 30, 2023, ERWO Holding Management Board member Hans-Georg von Schuh will retire as planned. ERWO Holding Management Board member Manfred Heinrich will also leave the Board as planned at this time and will continue to hold his mandate as one of the managing directors in the Südwolle Group together with Stéphane Thouvay and Johannes Rauch.

Steger’s designated successor as CEO of both companies is Manuela Spörl (50), currently CFO of ERWO Holding and also CFO of Hoftex Group. Hoftex Group is a group of medium-sized companies in the textile industry, in which ERWO Holding holds a significant stake. In addition, ERWO Holding acts as the parent company of the Südwolle Group, in which the Group’s worsted yarn activities are bundled.

Klaus Steger (64), CEO of ERWO Holding AG (“ERWO Holding”) and Hoftex Group AG (“Hoftex Group”), will step down from the Management Board of both companies at the beginning of 2024 in accordance with internal policies of the family and the company regarding the retirement age. Already on June 30, 2023, ERWO Holding Management Board member Hans-Georg von Schuh will retire as planned. ERWO Holding Management Board member Manfred Heinrich will also leave the Board as planned at this time and will continue to hold his mandate as one of the managing directors in the Südwolle Group together with Stéphane Thouvay and Johannes Rauch.

Steger’s designated successor as CEO of both companies is Manuela Spörl (50), currently CFO of ERWO Holding and also CFO of Hoftex Group. Hoftex Group is a group of medium-sized companies in the textile industry, in which ERWO Holding holds a significant stake. In addition, ERWO Holding acts as the parent company of the Südwolle Group, in which the Group’s worsted yarn activities are bundled.

Spörl has a degree in business administration and has been working for Hoftex Group since 2000. Her professional career began in the Corporate Controlling department, and in 2012 she was appointed as an advisor to the Board of Management. She was granted power of attorney in 2015, followed by appointments as CFO of the Hoftex Group in 2020 and CFO of the ERWO Group in 2022. A search for a successor for Spörl in the position of CFO of the Hoftex Group and, subsequently, of ERWO Holding is currently underway. Until the new CFO takes office, the two members of the Management Board, together with the Supervisory Board, will ensure an orderly transition.

The announced change in the Management Board of ERWO Holding, which acts as the parent company of the Südwolle Group, also ensures continuity at the leading manufacturer of worsted yarns for weaving, circular and flat knitting products in pure wool and wool blends. In the future, the management of Südwolle Group will continue to consist of the longstanding members Manfred Heinrich (Technology, Production & Planning), Johannes Rauch (Finance & Controlling) and Stéphane Thouvay (Sales & Marketing and Product Management & Innovation). Together with the designated board member of the parent company ERWO Holding, they will continue the successful development of the Südwolle Group from a mere supplier to a strategic partner of its customers as well as the growth trend of recent years.

The founding family Steger remains involved in the various supervisory bodies of the group of companies and will continue to work closely with them as the sole shareholder of ERWO Holding.

Source:

ERWO Holding AG

Photo: AkzoNobel
Ben Noteboom
20.12.2022

Ben Noteboom to be nominated as AkzoNobel Supervisory Board member

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

Adds Ben Noteboom: “I’m excited about the opportunity to join AkzoNobel’s Supervisory Board and look forward to contributing to the next phase of the company’s transformation as it makes further progress to becoming a frontrunner in the industry.”

Source:

AkzoNobel

Gregoire Poux-Guillaume Photo: AkzoNobel
Gregoire Poux-Guillaume
06.09.2022

AkzoNobel: Gregoire Poux-Guillaume new member of the Board of Management

At the Extraordinary General Meeting (EGM)- September. 6 2022, the shareholders of Akzo Nobel N.V. (AkzoNobel) appointed new CEO Gregoire Poux-Guillaume as a member of the Board of Management, effective November 1, 2022.
 
Mr. Poux-Guillaume will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end. Mr. Poux-Guillaume will join AkzoNobel on October 1, to ensure a smooth transition as per November 1.
 
Nils Smedegaard Andersen, Chair of AkzoNobel’s Supervisory Board, commented: “I would like to welcome Gregoire Poux-Guillaume, who is an experienced business leader with an impressive track record of delivering results, growth and building strong teams. His experience will play a key role in helping the company to further improve its operational excellence and performance. I’d also like to thank Thierry for his time at AkzoNobel, during which AkzoNobel was transformed to become a focused and competitive paints and coatings company, with significant returns to shareholders.”
 

At the Extraordinary General Meeting (EGM)- September. 6 2022, the shareholders of Akzo Nobel N.V. (AkzoNobel) appointed new CEO Gregoire Poux-Guillaume as a member of the Board of Management, effective November 1, 2022.
 
Mr. Poux-Guillaume will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end. Mr. Poux-Guillaume will join AkzoNobel on October 1, to ensure a smooth transition as per November 1.
 
Nils Smedegaard Andersen, Chair of AkzoNobel’s Supervisory Board, commented: “I would like to welcome Gregoire Poux-Guillaume, who is an experienced business leader with an impressive track record of delivering results, growth and building strong teams. His experience will play a key role in helping the company to further improve its operational excellence and performance. I’d also like to thank Thierry for his time at AkzoNobel, during which AkzoNobel was transformed to become a focused and competitive paints and coatings company, with significant returns to shareholders.”
 
Mr. Poux-Guillaume’s previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

More information:
Poux-Guillaume AkzoNobel
Source:

AkzoNobel

Gregoire Poux-Guillaume Gregoire Poux-Guillaume. Photo: AkzoNobel
28.06.2022

Gregoire Poux-Guillaume new CEO of AkzoNobel

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022.

He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.

Gregoire (52), a French national, is an international business leader with 25 years of experience. He has a distinguished track record of building successful, profitable businesses in challenging environments, accelerating business growth and improving margins.

Previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022.

He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.

Gregoire (52), a French national, is an international business leader with 25 years of experience. He has a distinguished track record of building successful, profitable businesses in challenging environments, accelerating business growth and improving margins.

Previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

More information:
AkzoNobel
Source:

AkzoNobel

07.06.2022

SGL Carbon raises sales and earnings guidance for 2022

Based on the good business development in all four Business Units as well as the mostly successful passing on of increased costs for raw materials, energy and transport to customers, the Board of Management of SGL Carbon SE expects to exceed the given guidance for the fiscal year 2022. Accordingly, SGL Carbon SE is increasing its sales and earnings guidance for fiscal year 2022.

The Company expects to exceed the upper end of the stated range of its Group EBITDApre (earnings before interest, taxes and depreciation adjusted by non-recurring items and one-time effects) guidance for the fiscal year 2022 of EUR 110 - 130 million and is raising its EBITDApre guidance for 2022 to EUR 130 - 150 million. Correspondingly, EBITpre1 (earnings before interest and tax adjusted by non-recurring items and one-time effects) is now forecasted to be between EUR 70 - 90 million (previously: EUR 50 - 70 million). The sales guidance is also raised to around EUR 1.1 billion for the current fiscal year, originally expected to be at the level of the previous year (EUR 1,007.0 million).

Based on the good business development in all four Business Units as well as the mostly successful passing on of increased costs for raw materials, energy and transport to customers, the Board of Management of SGL Carbon SE expects to exceed the given guidance for the fiscal year 2022. Accordingly, SGL Carbon SE is increasing its sales and earnings guidance for fiscal year 2022.

The Company expects to exceed the upper end of the stated range of its Group EBITDApre (earnings before interest, taxes and depreciation adjusted by non-recurring items and one-time effects) guidance for the fiscal year 2022 of EUR 110 - 130 million and is raising its EBITDApre guidance for 2022 to EUR 130 - 150 million. Correspondingly, EBITpre1 (earnings before interest and tax adjusted by non-recurring items and one-time effects) is now forecasted to be between EUR 70 - 90 million (previously: EUR 50 - 70 million). The sales guidance is also raised to around EUR 1.1 billion for the current fiscal year, originally expected to be at the level of the previous year (EUR 1,007.0 million).

In line with the development of earnings, the forecast for return on capital employed (ROCE) of originally 5% - 7% is raised to 7% - 9%. The expectations for free cash flow remain unaffected by the forecast increase. Free cash flow is still expected to be significantly lower in 2022 than in the previous year (previous year: EUR 111.5 million).

The new forecast for fiscal 2022 has been drawn up on the basis of the prevailing market environment and assumes no deterioration in conditions, in particular due to the war in Ukraine and its consequences for the global economy. In particular, it is assumed that sufficient electricity and gas will be available and production lines will remain in operation. The communicated medium-term targets up to 2025 remain unaffected by the forecast adjustment.

SGL Carbon will publish its 2022 half-year figures as planned on August 4, 2022.

More information:
SGL Carbon SE
Source:

SGL CARBON SE

22.04.2022

AkzoNobel shareholders approve final dividend at Annual General Meeting

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

More information:
AkzoNobel general meeting
Source:

AkzoNobel

30.10.2020

SGL Carbon SE: Board of Management resolves restructuring program

An impairment charge has become necessary based on the current status of the new 5 year plan.

(Market Abuse Regulation N° 596/2014)
•    Impairment loss amounting to €80-100 million in the fourth quarter 2020 in the business unit CFM
•    Restructuring program resolved with savings target of more than €100 million until 2023
•    Guidance 2020 for Group sales and operating recurring Group EBIT confirmed
•    Guidance 2020 for net result reduced to minus €130-150 million

An impairment charge has become necessary based on the current status of the new 5 year plan.

(Market Abuse Regulation N° 596/2014)
•    Impairment loss amounting to €80-100 million in the fourth quarter 2020 in the business unit CFM
•    Restructuring program resolved with savings target of more than €100 million until 2023
•    Guidance 2020 for Group sales and operating recurring Group EBIT confirmed
•    Guidance 2020 for net result reduced to minus €130-150 million

In the current status of the 5 year plan, which is at present under preparation, significant deviations have already become apparent today, particularly in the market segments Automotive, Aerospace and Wind Energy in the business unit Composites – Fibers & Materials (CFM). Partially also due to the pandemic, Automotive and Aerospace is developing slower than anticipated in the last 5 year plan. In contrast, business with Wind Energy is growing much stronger than previously planned. These changes in the product mix lead to lower mid-term earnings at CFM compared to the prior 5 year plan. Following these deviations from the last 5 year plan, an event-driven impairment test was undertaken. This results in a non-cash impairment charge amounting to €80-100 million, which will be recorded in the fourth quarter 2020.

The Board of Management of SGL Carbon SE today also resolved the implementation of a restructuring program, with which the Company is targeting savings of more than €100 million until 2023 (compared to the base year 2019). These savings consist of a planned socially compatible reduction in personnel of more than 500 employees and substantial reduction in indirect spend, particularly in the areas of travel, consulting and external services. Costs of approximately €40 million are anticipated for the implementation of this restructuring program. A little more than half of this is expected to be recorded as expenses in the fourth quarter 2020, while the associated cash outflows are mainly forecasted for 2021.

This requires a partial adjustment of the guidance for 2020. The solid operational development in the third quarter 2020 with Group sales between €220 and €230 million and operating recurring EBIT1 between €13 and €15 million (plus approximately €9 million positive one-time effects) is within the framework of our expectations for the full year 2020. However, the Group net result is likely to develop below the prior year level of minus €90 million and reach approximately between minus €130 and €150 million due to the restructuring provisions as well as the impairment charge (prior guidance: improvement to a negative low double-digit million € amount).

With liquidity of €167 million as of September 30, 2020 (compared to €137 million at year-end 2019) and further cash inflows in the fourth quarter 2020 from successfully implemented additional funding measures, the Company’s position is solid. This liquidity is more than sufficient for the payment of the purchase price for SGL Composites USA in the amount of USD 62 million at the end of 2020 as well as the restructuring-related cash outflows expected mainly in 2021. The Company continues to have access to the revolving credit facility (RCF) in the amount of €175 million, which remains undrawn.

The quarterly statement as of September 30, 2020 will be published on November 12, 2020 as scheduled. Further details on the new 5 year plan as well as the guidance on the fiscal year 2021 will be presented with the publication of the Annual Report 2020 on March 25, 2021.

*The use of KPIs in this notification is aligned to the annual report 2019 and the interim report for the first half year 2020. There were no changes to the scope of consolidation or to valuation methods compared to the previous guidance.

More information:
SGL Carbon Composites Fibers
Source:

SGL CARBON SE

Thomas Dippold (c) Schaltbau Holding
Thomas Dippold
15.10.2020

SGL Carbon SE: Thomas Dippold becomes member of the Board of Management

As reported on August 17, 2020, the Supervisory Board of SGL Carbon SE had appointed Thomas Dippold to CFO and member of the Board of Management of SGL Carbon SE effective December 1, 2020. Fortunately, Mr. Dippold is able to assume office of his mandate as member of the Board of Management of SGL Carbon SE earlier, so that the Supervisory Board of the company has brought forward the appointment to October 15, 2020, also to prepare for the planned assumption of the CFO position.

As previously reported, and effective December 1, 2020, Mr. Dippold is succeeding the long-standing CFO Dr. Michael Majerus, who is resigning from his office effective November 30, 2020 by mutual amicable consent.

As planned, Dr. Stephan Bühler resigned from his office as member of the Board of Management effective October 15, 2020.

As reported on August 17, 2020, the Supervisory Board of SGL Carbon SE had appointed Thomas Dippold to CFO and member of the Board of Management of SGL Carbon SE effective December 1, 2020. Fortunately, Mr. Dippold is able to assume office of his mandate as member of the Board of Management of SGL Carbon SE earlier, so that the Supervisory Board of the company has brought forward the appointment to October 15, 2020, also to prepare for the planned assumption of the CFO position.

As previously reported, and effective December 1, 2020, Mr. Dippold is succeeding the long-standing CFO Dr. Michael Majerus, who is resigning from his office effective November 30, 2020 by mutual amicable consent.

As planned, Dr. Stephan Bühler resigned from his office as member of the Board of Management effective October 15, 2020.

Source:

SGL Carbon SE

Thomas Dippold appointed as new member of the Board of Management of SGL Carbon SE (c) Schaltbau Holding
Thomas Dippold
17.08.2020

Thomas Dippold appointed as new member of the Board of Management of SGL Carbon SE

  • Thomas Dippold succeeding Dr. Michael Majerus as CFO

During its meeting on August 17, 2020, the Supervisory Board of SGL Carbon SE decided to appoint Thomas Dippold (48) as CFO and member of the Board of Management of SGL Carbon SE effective December 1, 2020 with a tenure of five years. Thomas Dippold will succeed the long-standing CFO Dr. Michael Majerus, who will resign from his office as of November 30, 2020 by mutual amicable consent.

Thomas Dippold (German Diploma in Business Administration, MBA in USA) began his career at HSBC Bank in London and Düsseldorf. Further appointments led him to Schott AG amongst others in Singapore, followed by commercial management jobs and CFO positions in internationally active industrial companies headquartered in Germany. Mr. Dippold is currently CFO of the stock listed transportation technology company Schaltbau Holding AG.

  • Thomas Dippold succeeding Dr. Michael Majerus as CFO

During its meeting on August 17, 2020, the Supervisory Board of SGL Carbon SE decided to appoint Thomas Dippold (48) as CFO and member of the Board of Management of SGL Carbon SE effective December 1, 2020 with a tenure of five years. Thomas Dippold will succeed the long-standing CFO Dr. Michael Majerus, who will resign from his office as of November 30, 2020 by mutual amicable consent.

Thomas Dippold (German Diploma in Business Administration, MBA in USA) began his career at HSBC Bank in London and Düsseldorf. Further appointments led him to Schott AG amongst others in Singapore, followed by commercial management jobs and CFO positions in internationally active industrial companies headquartered in Germany. Mr. Dippold is currently CFO of the stock listed transportation technology company Schaltbau Holding AG.

The Chairwoman of the Supervisory Board of SGL Carbon SE, Mrs. Susanne Klatten, welcomes Mr. Dippold: “With the appointment of Mr. Dippold, we are pleased to have gained a convincing and highly respected personality in his field. We are convinced that Mr. Dippold possesses key qualifications to sustainably support SGL Carbon SE in its upcoming tasks given his comprehensive and long-standing experience as CFO.“

The Supervisory Board thanks Dr. Majerus very much for his great achievements in the interest of SGL Carbon. In the past six years, Dr. Majerus has stabilized the Company even in difficult times with several major capital market transactions and has meaningfully contributed to the strategic realignment of the Company with the successful divestment of the graphite electrode and cathode businesses. For nine months up to and including May 2020, Dr. Majerus additionally assumed nearly all responsibilities from the recently departed CEO and provided leadership to the Company as the Speaker of the Board of Management. In this position, he safely steered the Company through the immediate impacts of the Corona pandemic. In addition, he developed substantial future growth perspectives with, amongst others, the conclusion of a large supply agreement for fuel cell components. The Supervisory Board wishes him all the best and further success in his future endeavors.

Source:

SGL Carbon SE

14.05.2020

SGL Carbon achieves results in line with initial expectations

No significant impact yet from Covid-19 pandemic in the first quarter 2020:

No significant impact yet from Covid-19 pandemic in the first quarter 2020:

  • Group sales revenues at 247 million euros approximately 15 percent below prior year’s level, but slightly above the guidance corridor (220 to 240 million euros) as published in March 2020
  • Decline in Group sales due to changes in the lithium-ion battery supply chain in the business unit Graphite Materials & Systems (GMS) as well as restructuring-driven lower sales in Textile Fibers in the business unit Composites – Fibers & Materials (CFM)
  • Group recurring EBIT approximately 50 percent below prior year level at 9 million euros and at the upper end of the guidance corridor (mid to high single-digit million euros amount)
  • Due to timely implemented measures and in contrast to the usual seasonal pattern, liquidity of approximately 150 million euros as of March 31, 2020 developed very favorably compared to year-end 2019 (137 million euros)
  • Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon: “We acted decisively and took various measures at an early stage, both to ensure the safety of our employees and to mitigate the economic impact of the pandemic.”
  • Guidance for the full year 2020 remains suspended due to the impacts of the Covid-19 pandemic; decline in Group sales revenue and negative Group recurring EBIT expected for the second quarter 2020

In the first quarter 2020, SGL Carbon has not yet been significantly impacted by the Covid-19 pandemic and reached sales revenues slightly above the guidance corridor of 220 to 240 million euros published on March 12, 2020. In total, Group sales at 247 million euros was approximately 15 percent below the prior year level. The development is primarily attributable to changes in the lithium-ion battery supply chain in the business unit Graphite Materials & Systems (GMS) as well as to restructuring-driven lower sales in Textile Fibers in the business unit Composites – Fibers & Materials (CFM). As planned, Group recurring EBIT decreased by approximately 50 percent to 9 million euros and thus reached the upper end of the guidance corridor of a mid to high single-digit million euros amount.

As the global measures taken to contain the pandemic led to disruptions in production and supply chains in April and early May 2020, a significant double-digit percentage decrease in Group sales revenue and a negative Group recurring EBIT are expected for the second quarter 2020.  

SGL Carbon implemented various measures to counter the economic impact of the pandemic at an early stage. For this reason, liquidity developed very favorably compared to year-end 2019 and in contrast to the usual seasonal pattern and improved from 137 million to approximately 150 million euros.

More information:
SGL Carbon
Source:

SGL Carbon SE

02.04.2020

SGL Carbon SE suspends guidance for the current fiscal year

The previously communicated targets for 2020 are unlikely to be achieved due to the COVID-19 pandemic

The Board of Management of SGL Carbon SE determined today, that the forecasted results for the fiscal year 2020 are unlikely to be achieved due to the global COVID-19 pandemic. In light of the substantial uncertainty regarding the duration and the consequences of the COVID-19 pandemic, the Board of Management is currently unable to provide a reliable sales revenue and earnings forecast for the current year. Consequently, the guidance for 2020 is suspended. 

The previously communicated targets for 2020 are unlikely to be achieved due to the COVID-19 pandemic

The Board of Management of SGL Carbon SE determined today, that the forecasted results for the fiscal year 2020 are unlikely to be achieved due to the global COVID-19 pandemic. In light of the substantial uncertainty regarding the duration and the consequences of the COVID-19 pandemic, the Board of Management is currently unable to provide a reliable sales revenue and earnings forecast for the current year. Consequently, the guidance for 2020 is suspended. 

The previous expectation, which guided for a slightly lower sales revenue und a recurring EBIT1 approximately 10-15% below the prior year (sales revenue 2019: €1,087m; recurring EBIT 2019: €48m), was already made conditional by the Board of Management in the management report published on March 12, 2020, that negative effects from the coronavirus were not included, as the outbreak at that time was mainly restricted to China and Italy. In the meantime, numerous other governments have introduced far-reaching measures with substantial limitations on the public and economic sectors and leading economists now forecast significant reductions in economic output in key economies. 

The Board of Management of SGL Carbon has introduced and partially already implemented comprehensive measures to reduce the cost base and to secure liquidity. These measures include the introduction of short-time work, reduction of material and indirect spend, as well as further reduction resp. postponement of capital expenditures. In addition, we are exploring further financing options independent of the capital markets, some of which are already in preparation. The Company is intensively working on identifying and mitigating potential risks. 

More information:
SGL Carbon Coronavirus
Source:

SGL Carbon

17.03.2020

SGL Carbon SE postpones Annual General Meeting

The Board of Management of SGL Carbon SE (ISIN: DE0007235301) has decided not to hold the Annual General Meeting on April 22, 2020, as planned, but to postpone it to a later date.

The cancellation of the Annual General Meeting convened for April 22, 2020, is due to the latest measures taken by the federal government, the federal states and municipalities in connection with the spread of the coronavirus (SARS-CoV-2) as well as the assessment of the Robert Koch Institute and the relevant authorities that in the following weeks infections in Germany will likely increase further. In this situation, the Board of Management decided not to hold the event on April 22, 2020, in the interest of protecting the health of our shareholders, our employees, and our service providers involved in the Annual General Meeting.

The Company will reschedule the Annual General Meeting to a later date in 2020. SGL Carbon SE will monitor the situation closely in the coming weeks and, depending on the further development of the infections, will invite its shareholders to a new date for the Annual General Meeting.

The Board of Management of SGL Carbon SE (ISIN: DE0007235301) has decided not to hold the Annual General Meeting on April 22, 2020, as planned, but to postpone it to a later date.

The cancellation of the Annual General Meeting convened for April 22, 2020, is due to the latest measures taken by the federal government, the federal states and municipalities in connection with the spread of the coronavirus (SARS-CoV-2) as well as the assessment of the Robert Koch Institute and the relevant authorities that in the following weeks infections in Germany will likely increase further. In this situation, the Board of Management decided not to hold the event on April 22, 2020, in the interest of protecting the health of our shareholders, our employees, and our service providers involved in the Annual General Meeting.

The Company will reschedule the Annual General Meeting to a later date in 2020. SGL Carbon SE will monitor the situation closely in the coming weeks and, depending on the further development of the infections, will invite its shareholders to a new date for the Annual General Meeting.

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SGL Carbon
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SGL Carbon

SGL Carbon: fiscal year 2019 (c) SGL Carbon
SGL Carbon: fiscal year 2019
12.03.2020

SGL Carbon: fiscal year 2019

Diverging development in the two business units impact fiscal year 2019 of SGL Carbon – Group guidance for 2020 confirmed

  • Consolidated sales revenues in fiscal year 2019 up by 4 percent to around 1.1 billion euros
  • Consolidated recurring EBIT down by 25 percent to 48 million euros; record results of graphite specialities business did not fully compensate for the weak development in the carbon fiber business
  • Composites – Fibers & Materials (CFM): Cyclical und structural weaknesses impact the result of the market segments Wind Energy, Textile Fibers and Industrial Applications, which have limited strategic significance in the medium term
  • Graphite Materials & Systems (GMS): Sales and earnings on record level due to strong growth in the market segments Semiconductors and Automotive
  • Non-cash impairment charge of around 75 million euros was recorded at CFM in the third quarter of 2019
  • Free cash flow significantly improved
  • Issue of a new corporate bond and early redemption of the 2015/2020 convertible bond has significantly improved the maturity profile
  • SGL Carbon confirms guidance for fiscal

Diverging development in the two business units impact fiscal year 2019 of SGL Carbon – Group guidance for 2020 confirmed

  • Consolidated sales revenues in fiscal year 2019 up by 4 percent to around 1.1 billion euros
  • Consolidated recurring EBIT down by 25 percent to 48 million euros; record results of graphite specialities business did not fully compensate for the weak development in the carbon fiber business
  • Composites – Fibers & Materials (CFM): Cyclical und structural weaknesses impact the result of the market segments Wind Energy, Textile Fibers and Industrial Applications, which have limited strategic significance in the medium term
  • Graphite Materials & Systems (GMS): Sales and earnings on record level due to strong growth in the market segments Semiconductors and Automotive
  • Non-cash impairment charge of around 75 million euros was recorded at CFM in the third quarter of 2019
  • Free cash flow significantly improved
  • Issue of a new corporate bond and early redemption of the 2015/2020 convertible bond has significantly improved the maturity profile
  • SGL Carbon confirms guidance for fiscal year 2020: sales expected slightly below previous year; recurring EBIT approximately 10 to 15 percent below previous year level
  • Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon: “The financial development of the fiscal year 2019 conceals the fact that our strategic orientation is correct. This is evident from our growth and the increasing number of contracts and projects we acquired in our strategic core markets. Main drivers are the topics of sustainable mobility and energy as well as digitization. Therefore, we expect that we can grow our consolidated revenue by a mid to high single-digit percentage per year on average between 2020 and 2024.“

The fiscal year 2019 developed very differently in the two business units of SGL Carbon. The record results in the graphite specialities business could not fully compensate for the weak development in the market segments Wind Energy, Textile Fibers and Industrial Applications in the carbon fiber business. Group sales grew by 4 percent to 1.1 billion euros. Recurring Group EBIT declined by 25 percent to 48 million euros. Due to the ongoing weakness in the market segments Textile Fibers and Industrial Applications the business unit CFM recorded a non-cash impairment loss of 75 million euros in the third quarter of 2019. With minus 90 (prior year: plus 41) million euros, consolidated Group result declined significantly compared to last year’s good results. The Group confirms its guidance for 2020 published in October 2019.

Group sales are expected to decline slightly compared to the prior-year level, whereas Group recurring EBIT is expected to reach a result around 10 to 15 percent below the prior-year level. Consolidated net result of the Group in 2020 should strongly improve compared to prior-year level to a low double-digit loss.

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SGL Carbon
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SGL Carbon

05.11.2019

SGL Carbon increases group sales; recurring EBIT on the level of the prior year

  • Group sales increases by approximately 6 percent compared to the prior year period to 832 million euros due to organic growth in the market segments Digitization, Energy and Chemicals
  • Group recurring EBIT at around 54 million euros; adjusted for a positive one-time effect in the prior year approximately on the comparable level of the prior year
  • Business unit Composites – Fibers & Materials (CFM) deteriorated substantially in the third quarter 2019 due to the weak development in the market segments Textile Fibers, Wind Energy and Industrial Applications; Graphite Materials & Systems (GMS) developed better than expected on the very good level of the prior quarter reaching overall a record high level in 9M/2019
  • Free cash flow from continuing operations improved significantly in the first nine months
  • Impairment testing triggers a non-cash impairment charge of approximately 75 million euros in CFM in the third quarter
  • Revised guidance of October 25, 2019: Recurring EBIT at CFM in a negative mid-to-high single digit million euros amount and on Group level at 45 to 50 million euros
  • Countermeasures initiated to i
  • Group sales increases by approximately 6 percent compared to the prior year period to 832 million euros due to organic growth in the market segments Digitization, Energy and Chemicals
  • Group recurring EBIT at around 54 million euros; adjusted for a positive one-time effect in the prior year approximately on the comparable level of the prior year
  • Business unit Composites – Fibers & Materials (CFM) deteriorated substantially in the third quarter 2019 due to the weak development in the market segments Textile Fibers, Wind Energy and Industrial Applications; Graphite Materials & Systems (GMS) developed better than expected on the very good level of the prior quarter reaching overall a record high level in 9M/2019
  • Free cash flow from continuing operations improved significantly in the first nine months
  • Impairment testing triggers a non-cash impairment charge of approximately 75 million euros in CFM in the third quarter
  • Revised guidance of October 25, 2019: Recurring EBIT at CFM in a negative mid-to-high single digit million euros amount and on Group level at 45 to 50 million euros
  • Countermeasures initiated to improve earnings of CFM
  • Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon: ”The structural growth drivers remain intact in our strategically relevant markets. The countermeasures to improve earnings of CFM will be implemented consistently.”

In the third quarter 2019, the business units of SGL Carbon developed very differently. While Graphite Materials & Systems (GMS) showed better than expected results, Composites – Fibers & Materials (CFM) deteriorated compared to the two previous quarters. This is attributable to the weaker development in the market segments Textile Fibers and Industrial Applications. In total, sales revenue in the first nine months 2019 grew by approximately 6 percent to reach 832 million euros. Recurring Group EBIT after nine months reached approximately 54 million euros. Adjusted for a positive one-time effect in the prior year, this was comparable to the prior year level.

In its ad-hoc notification of October 25, 2019, the company revised its guidance for recurring EBIT of CFM downwards to a negative mid to high single digit million euro amount. On the Group level the company now expects a recurring EBIT at 45 to 50 million euros. Due to the lower starting point in 2019 as well as the ongoing weakness in the market segments Textile Fibers and Industrial Applications in the business unit CFM a non-cash impairment charge in the amount of approximately 75 million euros was recorded in the third quarter 2019. In recent years acquired assets of the former joint ventures with BMW and Benteler were not affected by this impairment. In addition, the impairment charge of CFM led to a valuation allowance on deferred tax assets in the amount of 7.4 million euros. Against this background, SGL Carbon now expects a net result of approximately minus 100 million euros for fiscal year 2019.

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SGL Carbon
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SGL Carbon

(c) SGL Carbon
Dr. Stephan Bühler
18.10.2019

Expansion of the Board of Management of SGL Carbon SE

On October 14, 2019, the Supervisory Board of SGL Carbon SE decided to appoint Dr. Stephan Bühler as an additional member to the Board of Management effective October 15, 2019. He will be responsible for Legal and Compliance.

Dr. Bühler is familiar with the Company, having been Head of Legal and Compliance for many years. He is therefore perfectly suited for his new role. He will assume this responsibility on a temporary basis until a new Chief Executive Officer has been appointed and taken office.

Dr. Michael Majerus, who has been the sole member of the Board of Management of SGL Carbon SE since September 1, will run the Company as Spokesman of the Board of Management going forward.

On October 14, 2019, the Supervisory Board of SGL Carbon SE decided to appoint Dr. Stephan Bühler as an additional member to the Board of Management effective October 15, 2019. He will be responsible for Legal and Compliance.

Dr. Bühler is familiar with the Company, having been Head of Legal and Compliance for many years. He is therefore perfectly suited for his new role. He will assume this responsibility on a temporary basis until a new Chief Executive Officer has been appointed and taken office.

Dr. Michael Majerus, who has been the sole member of the Board of Management of SGL Carbon SE since September 1, will run the Company as Spokesman of the Board of Management going forward.

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SGL Carbon
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SGL Carbon

Final report Heimtextil 2019 (c) Messe Frankfurt
11.01.2019

Heimtextil 2019: A lively start to the new furnishing season gives hope for a good business year ahead

The international home textiles industry has enjoyed a promising start at Heimtextil in Frankfurt am Main, which finished Friday, 11 January. The challenging economic situation and uncertainty in the retail sector were countered by a positive and confident mood at the world’s leading trade fair.

The international home textiles industry has enjoyed a promising start at Heimtextil in Frankfurt am Main, which finished Friday, 11 January. The challenging economic situation and uncertainty in the retail sector were countered by a positive and confident mood at the world’s leading trade fair.

3025 exhibitors from 65 countries* took the international trade fair for home and contract textiles to a 15-year high: ‘Exhibitors and visitors accepted the new trade fair concept with great enthusiasm and confirmed the trade fair’s position as the world’s most important meeting place for the industry. The quality of the decision-makers impressed the exhibitors, as did the number of new business contacts from 156 countries, especially international ones – thus enabling Heimtextil to set a new benchmark’, says Detlef Braun, Member of the Board of Management of Messe Frankfurt. ‘Around 67,500 visitors* ensured that there was a busy atmosphere in the halls, despite a slight decline due to various reasons, such as difficult travel conditions on account of the storms in the alpine region and airport strikes in Germany’. [*For comparison, 2018: 2,975 exhibitors from 64 countries; 68,584 visitors from 135 countries, FKM-tested)]

3025 exhibitors from 65 countries* took the international trade fair for home and contract textiles to a 15-year high: ‘Exhibitors and visitors accepted the new trade fair concept with great enthusiasm and confirmed the trade fair’s position as the world’s most important meeting place for the industry. The quality of the decision-makers impressed the exhibitors, as did the number of new business contacts from 156 countries, especially international ones – thus enabling Heimtextil to set a new benchmark’, says Detlef Braun, Member of the Board of Management of Messe Frankfurt. ‘Around 67,500 visitors* ensured that there was a busy atmosphere in the halls, despite a slight decline due to various reasons, such as difficult travel conditions on account of the storms in the alpine region and airport strikes in Germany’.

One topic that occupied both exhibitors and visitors was the current and future economic situation. A further challenge is the increasingly evident changes that are happening in trade. Increasing revenues and revenue shares in online retailing stand in the way of the efforts made by the stationary retail trade to maintain their inner-city businesses. ‘The small business specialist trade, but also department stores and multibrand stores, and thus the heart of our visitor target groups, are under pressure from the constantly increasing levels of e-commerce. With Heimtextil and our consumer goods fairs in general, we offer these retailers in particular clear perspectives and diverse inspiration in an ambiguous world’, continues Braun.

Heimtextil made it easier for its visitors to access valuable inspiration and business momentum thanks to an optimised trade fair concept and the associated new hall structure. ‘The new concept brought more visitors to the stand’, was the feedback from Andreas Klenk, Managing Director of Saum & Viebahn from Kulmbach in Franconia about hall 8.0 which offered textiles editeurs and manufacturers of curtain and sun protection systems a common platform for the first time. ‘It was the right decision to merge the different segments. We had high quality discussions with respect to both export and domestic business, and are satisfied with the trade fair’.

As part of the new concept, Heimtextil expanded its unique product range across the entire exhibition site and also included the new hall 12, which has been an additional architectural highlight on the Frankfurt exhibition grounds since September.

Top international companies from the Bed & Bath Fashion segment presented their wares here. For the company Curt Bauer from Aue in Saxony, the première of the new hall was a successful one. ‘We're very enthusiastic about the new hall 12. The product range there was very well received. We are very satisfied with the quality of visitors to our stand. In addition to a good frequency of German visitors, we are particularly pleased about growth from China and Russia’, says Managing Director Michael Bauer.

Natural materials, PET and ocean plastics 
Heimtextil set a standard in terms of sustainability: after the first global climate protection agreement for the textile industry was signed by 40 leading fashion companies, organisations and associations at the World Climate Conference in Katowice last December, the focus in Frankfurt was also on environmental progress in the textile industry. Numerous exhibitors presented progressive solutions, for example in the recycling of PET bottles and ocean plastic as well as in the use of certified natural materials. ‘Sustainability was the theme for us at this year’s Heimtextil. Major media players visited us and the 'Green Tour’ guided tour stopped by. We presented many things, including our first vegan duvet and fair silk products, all 100 per cent produced in Austria’, says Denise Hartmann, Marketing Manager at Hefel Textil. The topics of water consumption in the textile industry and microplastics also increasingly came to the fore. The exhibitor directory ‘Green Directory’ alone contained around 150 progressive companies listing sustainably produced textiles. The offer was supplemented by its own lecture series as well as theme-specific tours, which provided valuable impetus and
underpinned the pioneering green position of the trade fair.

Sleep becomes new lifestyle theme
Heimtextil also focused on sleep as one of the upcoming lifestyle trends. While a balanced diet and sufficient exercise are now a natural part of a healthy lifestyle, restorative sleep is still neglected* although it is one of the most important building blocks for long-term physical and mental well-being. At Heimtextil, a number of new products and aspects came to the fore that help people become sensitised to and analyse their sleep behaviour and promote healthy sleep. Around the redesigned hall 11.0 and in the adjoining lecture area ‘Sleep! The Future Forum’, representatives from the national and international bed industry enjoyed attractive product presentations and superb speeches on the topics of sustainability, hospitality, sport and digital.

In addition to the renowned trend show, the trade fair also focused on contract business, particularly in the hotel and hospitality sector, as well as decorative and upholstery fabrics, digital printing solutions and wallpapers.

The next Heimtextil in Frankfurt am Main – its 50th edition – will take place from 7 to 10 January 2020.

*According to a forsa investigation commissioned by the Techniker Krankenkasse

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Heimtextil
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Messe Frankfurt Exhibition GmbH

27.04.2018

HYGIENICALLY CLEAN HEALTHCARE ADVISORY BOARD ANNOUNCES FULL SLATE OF MEMBERS

TRSA, the global association for the linen, uniform and facility services industry, and the creator and administrator of the Hygienically Clean Certification announced today its 2018 Hygienically Clean Healthcare Advisory Board slate of members.

“The board is responsible for administering, enforcing, and revising TRSA’s Hygienically Clean Healthcare (HCH) Standards. Additional duties include establishing and maintaining criteria and procedures for the certification of healthcare textile processing in commercial, cooperatives, and in-house healthcare laundries and facilities. These subject matter experts will provide guidance regarding best management practices (BMPs), inspections and testing to ensure that the Hygienically Clean Healthcare Certification Program benefits consumers, laundry-processing facilities and textile services customers,” said Joseph Ricci, President and CEO of TRSA.

TRSA, the global association for the linen, uniform and facility services industry, and the creator and administrator of the Hygienically Clean Certification announced today its 2018 Hygienically Clean Healthcare Advisory Board slate of members.

“The board is responsible for administering, enforcing, and revising TRSA’s Hygienically Clean Healthcare (HCH) Standards. Additional duties include establishing and maintaining criteria and procedures for the certification of healthcare textile processing in commercial, cooperatives, and in-house healthcare laundries and facilities. These subject matter experts will provide guidance regarding best management practices (BMPs), inspections and testing to ensure that the Hygienically Clean Healthcare Certification Program benefits consumers, laundry-processing facilities and textile services customers,” said Joseph Ricci, President and CEO of TRSA.

Members of the newly formed board of directors, who represent the entire industry -- linen, uniform and facility service companies, large central laundries, healthcare linen, uniform and facility services customers of TRSA members, suppliers, and experts from related healthcare and other professional organizations -- will serve a three-year term:

Randy Bartsch
CEO, Ecotex Healthcare Linen Service Inc.
Chairman

Rick Kislia
Chief Operating Officer
Crescent Laundry
Vice Chairman

David J. Stern
President & CEO, Paris Companies
Secretary

Greg Anderson
CEO, Campus Laundry

Angela Becker
Senior Program Leader, Textile Care RD&E, Ecolab

Murray L. Cohen, PhD, MPH, CIH
Owner, Consultants in Disease and Injury Control (CDIC)

Dr. Alexis M. Elward, MD
Pediatric Infectious Disease
Washington University School of Medicine in St. Louis

Eoin Flavin
Director, European Operations, WSI

David F. Goldsmith, MSPH, PhD, LLC
George Washington & Georgetown Universities

James Hall
CEO, Northwest Health Care Linen

Tony Long
VP, Risk Management, Angelica
Lynn A. Moreau, RN, BSN
Clinical Liaison Manager
HandCraft Linen Services

Michael Potack
Chairman, Unitex

Robert Raphael
Co-President
Service Linen Supply Inc.

Liz Remillong
Vice President, Strategic Alliance
Crothall Healthcare

Douglas Waldman
President, Superior Linen Service

Charles Rossmiller
Director Laundry Programs
Textile Sales
Medline Industries, Inc.

Thomas Smith
Director, Safety & Training
Foussard Montague Associates, Inc.