SGL Carbon (SGL) Q3 2026 earnings summary

Executive summary

• 9M sales were €594.8m, down 8.9% YoY, mainly due to discontinued carbon-fiber activities; EBITDApre was €106.3m vs €108.6m, while its margin rose to 17.9% from 16.6%.

• Q3 sales were €200.6m, up 0.5% YoY; adjusted EBITDA was €36.5m, up 1.1%, with nuclear graphite and product mix supporting performance.

• FY 2026 EBITDApre guidance increased to €130m–€140m; sales are expected near €770m or at the upper end of the €720m–€770m range.

Financial highlights

• 9M adjusted EBIT was €69.2m vs €69.4m; reported EBIT rose to €66.1m from a €15.3m loss as one-time and special items improved to -€3.1m from -€84.7m.

• Net income attributable to parent shareholders was €31.3m vs a €51.3m loss; EPS was €0.26 vs -€0.42.

• Free cash flow was €38.0m vs €12.5m; operating cash flow rose to €72.0m from €40.1m.

• Semiconductor contract compensation payments totaled €30.4m in 9M, including €1.7m in Q3, and supported results and margin.

Outlook and guidance

• FY 2026 EBITDApre guidance increased from €110m–€130m to €130m–€140m; sales are expected near €770m, with the final outcome dependent on November and December trading.

• Guidance reflects nuclear graphite ramp-up, Fiber Composites mix and a higher BSCCB contribution; the medium-term plan through 2030 is unchanged.

• FY 2026 free cash flow expectations increased following receipt of the first $45m Moses Lake sale installment.

• Process Technology has no relevant recovery expected in 2027 based on the current order book; improvement depends on chemical-industry demand and project activity.