“The expected good business performance of the Graphite Solutions business unit and the better-than-expected sales and earnings development of Process Technology and Composite Solutions compensated the drop in demand in Carbon Fibers,” a press release said.
Graphite Solutions had an a 15.3% increase in sales to €280.6 million, up from €243.4 million, while Process Technology had a 30.9% increase in sales to €64.4 million, compared to €49.2 million in the first half of 2022.
Composite Solutions also reported a sales increase of 14.4% to €79.6 million in H1 2023, up from €69.6 million. However, the company’s Carbon Fibers business had a 28.9% decline in sales to €125.1 million from €176.0 million in the first half of 2022.
2An important market segment for the Carbon Fibers business unit is the wind industry,” SGL said. “Demand for carbon fibers for the wind industry has declined sharply since the beginning of the year.”