Q1 2020 SGL Carbon SE Earnings Call Transcript
First of all, hello to everybody. This is Michael Majerus. I would like to welcome you to this call, also in the name of my colleague, Stephan Bühler, who is also joining. Both of us will be available for the subsequent question-and-answer session after the presentation.
Now let's start with the presentation first, and let's move to the first page with content, which is Page #3, which shows the development of our Composite and Fibers & Materials division, CFM. Starting with revenue, revenue was down 9% at roughly EUR 105 million, but that was expected and overall not materially impacted by COVID-19 because the main reason here was that we decided to restructure our Textile Fibers business and substantially reduced the number of lines we are running last year, reduced the cost and optimized the structure of this business. So therefore, this is the main reason of this revenue development. We saw some corona-related effect in revenue in the automotive and aerospace sector. However, this was compensated by better-than-expected
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