SGL Carbon posts sales rise

WIESBADEN, Germany — SGL Carbon, which has a major carbon fiber production plant in Moses Lake, announced that sales in the first three months of 2022 rose 12.2% when compared with the same period in 2021.

According to a press release issued Thursday highlighting the company’s first quarter 2022 earnings, SGL noted that carbon fiber sales rose 6.6 million euros ($6.9 million) during the first quarter of the year when compared with 2021, with overall sales rising by 29.4 million euros ($30.9 million).

Despite production problems, transportation interruptions and significantly higher energy costs, SGL posted first quarter earnings of 36.8 million euros ($38.7 million). However, the company also said that it expects continued volatile raw material and energy prices, thanks largely to the ongoing war in Ukraine and pandemic-related lockdowns in China which could affect earning reports later in 2022.

SGL Carbon imports polymer fiber from Japan and converts it to carbon fiber in Moses Lake by cooking it in a series of high-temperature ovens. The fiber is then woven into fabric panels, where it is used to make components for automobiles, aircraft and other things.

The price of shares in the company, traded on the Frankfurt Stock Exchange, rose 4% on Thursday to end trading at 5.35 euros per share ($5.63).