Thanks to the rapid growth of the three business divisions and the cost reduction of 28 million euros, the SGL Group's sales in 2008 reached 1,611.5 million euros, an increase of about 17% compared with 2007; the profit before interest and taxes reached 305.8 million euros, an increase. About 18%; sales return rate reached 19%.
Sigir Group Chairman Robert J. Koehler said that it is foreseeable that the company will continue to be affected by the global economic recession in 2009, so sales for 2009 are expected to be lower than in 2008. “But thanks to our broad business scope, robust financial structure and timely response, we are still very confident in maintaining a certain level of profit during the crisis year.â€
Due to the impact of the global economic environment, SGL Group lowered its sales forecast for 2009, but its medium-term target remains unchanged, maintaining an annual growth rate of 5%-10%, and the sales return rate is not less than 12%.
SGL Group's sales reached a record high last year
The 2008 results announcement issued by the SGL Group, the world's largest manufacturer of carbon graphite materials, composites and related products, to the newspaper yesterday showed that its sales and revenues reached a record high in fiscal 2008.