BRIEF-SGL Carbon says sale of HITCO aerostructures business leads to impairment charge in H1

Mon Jul 20, 2015 2:29am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 20 (Reuters) - Sgl Carbon SE :

* Agreement with Avcorp Industries Inc on the sale of aerostructures business of HITCO leads to an impairment charge in range in H1/2015

* Terms of agreement result in overall negative proceeds of $47 million

* Impairment charge in range of 50 million euros - 55 million euros ($54.15 million - $59.56 million) on HITCO assets held for sale recorded under discontinued operations in income statement

* Related cash outflow amounts to approx. 40 million euros

* In first half year of 2015, group sales amounted to 655 million euros , group EBITDA before non recurring items to 61 million euros

* Adheres to its full year 2015 guidance of a substantially improved EBITDA and EBIT compared to 2014 Source text for Eikon: Further company coverage: ($1 = 0.9234 euros) (Gdynia Newsroom)