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SGL's Profits Fall on Deeper Losses at Carbon Fibers Business

7:59 AM MDT | August 9, 2012 | Sotirios Frantzanas

SGL Group (Wiesbaden, Germany) says sales increased 11.7% in the first half of 2012, to €809.8 million ($996.3 million), compared with €725 million in the corresponding period of 2011. Net and operating profits, however, decreased 32.3% and 4.2% year-over-year (YOY), to €23.7 million and €73 million, respectively. SGL's first-half performance was impacted by unexpected losses in the carbon fibers and composites business segment—losses that were a result of delayed projects and developments in the areas of aviation, energy...

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