SGL Carbon SE — Cyborg Score 5/10

Mixed
Specialty graphite and carbon materials

Strategic Profile

SGL Carbon is one of the world's leading manufacturers of products from carbon, with 29 production sites around the globe (17 in Europe, 8 in North America and 4 in Asia), and a service network in more than 80 countries. The Graphite Solutions segment generates maximum revenue, offering graphite products for industrial applications and industries like semiconductors, energy, chemicals, and automotive.

Cyborg Score Rationale

In Q1 2026 the company reported consolidated sales of €184.5 million, a 21.3% decline, with sales pressure from subdued demand weighing on performance, though profit margin improvements and strategic cost discipline underpin an unchanged forecast. The company's trailing-twelve-month EPS was -$0.73, indicating operational challenges despite global market position.

Top Insights

  • SGL Carbon expects consolidated revenue of €720–€770 million and adjusted EBITDA of €110–130 million for fiscal year 2026, representing stabilized guidance despite Q1 2026's 21.3% sequential sales decline, signaling management confidence in demand stabilization.
  • In January 2026, SGL Carbon executed a 10-year graphite supply agreement with X-energy, securing long-term revenue visibility in the nuclear technology market and diversifying beyond cyclical semiconductor and automotive end-markets.
  • In 2026, SGL Carbon employed 4,837 people, a 0% change from the previous year, indicating flat headcount despite revenue headwinds, reflecting disciplined cost management and organizational efficiency initiatives.

Named Competitors

  • Graphite Products — Global graphite and carbon fiber manufacturer
  • Graphite Electrodes & Specialty Materials — Electrical specialty materials and carbon products
  • Graphite & Carbon Products — Specialty graphite and engineered carbon solutions
  • Imerys Graphite & Carbon — Advanced graphite and carbon materials manufacturer for semiconductors, steel, and industrial applications
  • Poco Graphite — Premium specialty graphite producer for semiconductor, aerospace, and industrial applications
  • Toyo Tanso — Isotropic graphite and carbon products for semiconductor, aerospace, and advanced technology industries

Recent Developments

  • (January 2026) 10-year graphite supply agreement with X-energy for nuclear applications
  • (August 2025) Launched prepregs made from natural fibers for motorsports applications
  • (Q1 2026) Reported 21.3% sales decline to €184.5 million with margin improvements

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