WIESBADEN (dpa-AFX) - The carbon fiber specialist SGL Carbon is considering a divestment of its carbon fiber and composite materials business. Various options for the Carbon Fibers business unit are being examined, including a partial sale and a complete disposal, the company, which is listed in the second-line index SDax, announced in Wiesbaden on Friday evening. Following the restructuring and stabilization, SGL Carbon is preparing for the next growth step, said CEO Torsten Derr according to the press release. The share price rose by four percent on Monday morning.

Based on the first nine months of 2023, Carbon Fibers will account for 21.9 percent - or around 180 million euros - of Group sales, according to the statement. The division reportedly produces textile, acrylic and carbon fibers as well as composite materials at seven locations in Europe and North America. Due to a lack of demand for carbon fibers from the important wind industry market, the division's sales and earnings slumped over the course of last year. The company plans to present its figures for the full year 2023 on March 22.

Analyst Henrik Paganetty from Jefferies emphasized that the division is the second largest after the graphite business. There was a decline in carbon fibers in 2023. Even if demand were to pick up again, additional resources would apparently be required to remain competitive. The considerations are still at an early stage and the company has indicated that the time horizon for a decision is still unclear.

The Wiesbaden-based company has been through difficult times. Structural changes in key sectors such as automotive and aviation have caused the Group problems. In addition, planning errors became known in 2019 and the company had to bury its medium-term ambitions.

After three years of losses, SGL was back in the black for the first time in 2021. The coronavirus pandemic weighed heavily on business in 2020. In autumn 2020, the new CEO Derr announced an extensive cost-cutting program - including the elimination of one in ten jobs. The entire program was intended to improve earnings by over 100 million euros per year by 2023.

SGL employed 4783 people at the end of September. The car manufacturers BMW and VW as well as BMW's major shareholder Susanne Klatten hold shares in the company via her investment company Skion./mne/mis/ngu/mis