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SGL Group reports slide in sales and profits, continues with restructuring
9:03 AM MDT | March 10, 2014 | Natasha Alperowicz
SGL Group (Wiesbaden, Germany) today reported a major drop in sales and profits for full-year 2013 mainly on the back of lower prices. Sales declined 10%, to €1.48 billion ($2.05 billion), while Ebit before nonrecurring charges decreased from €164.4 million in 2012 to €19.5 million last year. Ebit margin was down to 1.3% compared with 10% in 2012. Group-wide savings from the SGL2015 cost savings program reached about €69 million, significantly exceeding the expected savings of €50 million. “2013 was operationally one of the...
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