17.11.2016,
7597 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
quarterly report
Revenue at EUR 647.6 million (-6.4%) slightly below prior-year level\nDeclines in EBITDA (-4.2%) and EBIT (-13.5%)\nConfirmation of updated outlook for 2016\nThe publicly listed Semperit Group showed a solid business development in the
first three quarters of 2016 in spite of the ongoing difficult market
environment. In the Industrial Sector, Semperit increased the sales volumes and
gained market share despite the declining development of the sales markets.
This development helped to narrow down the negative effects of the high price
pressure and exceptional factors burdening the Medical Sector. In the first
three quarters of 2016, the Group's revenue was at EUR 647.6 million, 6.4%
below the prior-year value of EUR 692.1 million. The Group's EBITDA decreased
by 4.2% to EUR 72.2 million (after EUR 75.4 million). EBIT also developed
downward to EUR 46.7 million, compared with EUR 53.9 million in the previous
year. The EBITDA margin (11.1% after 10.9%) and the EBIT margin (7.2% after
7.8%) remained largely on the previous year's level. Due to negative foreign
currency effects and higher interest costs, earnings after tax fell from EUR
40.1 million to EUR 23.4 million.
"The weak sector economy in numerous sales markets had as well an impact on us
in the past quarter. We were confronted with declining demand and high price
pressure above all in the Industrial Sector, especially in the Sempertrans
segment. In view of these circumstances, it is satisfying that we achieved
volume growth in all industrial segments and further expanded our market
position. As part of our globalisation strategy at Semperform, for example, we
have succeeded in entering the US market for window and door profiles. This way
we developed significantly better than the market in the Industrial Sector and
therefore were able to narrow down the negative effects from the medical
business," explains CEO Thomas Fahnemann on the company development.
In the third quarter of 2016, the Group's revenue decreased to EUR 208.9
million (after EUR 241.3 million) due to a weak market and high price pressure
at the same time. EBITDA was at EUR 19.4 million (after EUR 25.1 million),
while EBIT was EUR 10.4 million (after EUR 17.7 million).
Semperit boasted a sound capital basis as reflected by its equity ratio of
37.0% (31 December 2015: 38.7%) at the balance sheet date. Cash and cash
equivalents amounted to EUR 131.7 million on 30 September 2016, compared to EUR
126.4 million at the end of 2015. "The stable development of our capital
structure and the further increase of cash and cash equivalents show that even
under very challenging conditions we are able to perform well," states
Semperit's CFO Johannes Schmidt-Schultes.
Industrial Sector: solid development in difficult markets The Industrial Sector
(Semperflex, Sempertrans and Semperform segments) showed an overall solid
development contrary to the persisting market trend. All production sites were
well utilised.
The Semperflex segment increased its market share based on a strong sales
performance in all business units, again with high profitability. The
Sempertrans segment showed good capacity utilisation and further volume growth.
However, high price pressure and a new product mix due to weak demand caused
lower shares in revenue and earnings. The Semperform segment showed a stable
development and recorded a further volume growth thanks to a strong sales
performance and the entry into the US market.
At EUR 389.3 million, revenue of the Sector was almost on the prior-year level
(-1.6%) in the first three quarters of 2016. EBITDA decreased by 5.1% to EUR
71.7 million.
Medical Sector: focus on core markets The Medical Sector (Sempermed segment)
was burdened by high margin pressure and exceptional factors. Considering the
unsatisfying price situation in the global glove market and the persisting
burdening influence on the cooperation with the joint venture partner in
Thailand, Sempermed now focuses on the core markets Europe and North America.
The overall focus is on sales of Sempermed brand gloves. This sales strategy,
which was adapted to the current market conditions, is intended to lead to
further cost savings and efficiency enhancements in the coming quarters. The
start-up costs caused by the ongoing capacity expansion in Malaysia had a
negative effect on earnings during the reporting period.
The revenue of the Sector decreased by 12.9% to EUR 258.3 million in the first
three quarters of the financial year. EBITDA fell to EUR 9.8 million after EUR
19.4 million.
Outlook 2016 For the fourth quarter of 2016, Semperit expects no significant
changes of the market conditions. The generally low demand in the Industrial
Sector is expected to continue due to the economic situation. In the Medical
Sector, which is not cyclically sensitive, increased raw material and energy
prices and continuing price pressure are to be expected, while demand will
develop steadily.
Semperit confirms the outlook updated on 20 September 2016. Due to the ongoing
difficult situation in the Medical Sector and declining demand in the
Industrial Sector caused by the economic situation, in particular in the
Sempertrans segment, the operational results of 2016 of the Semperit Group will
be well below the results of 2015 (restated values). This results in a forecast
decline in EBITDA by approximately 10% and in EBIT by approximately 20% for the
overall financial year of 2016.
The Semperit Group will continue its growth strategy consistently despite more
difficult economic conditions. The focus will be on entering into new markets
in the Industrial Sector and the expansion and optimisation of existing
production capacities. In the Medical Sector (Sempermed segment), the sales
focus remains on the core markets and on commissioning further production
capacities in Malaysia. Profitability shall be improved by continuing process
optimisation and efficiency enhancements as well as by the realisation of a
cost reduction programme.
The report on the first three quarters of 2016 is available at
www.semperitgroup.com/ir.
Photo download:
https://semperitgroup.picturepark.com/Go/wPXX3GzO
About Semperit The publicly listed company Semperit AG Holding is an
internationally-oriented group that develops, produces, and sells highly
specialised rubber and plastic products in more than 100 countries for the
medical and industrial sectors: examination and surgical gloves, hydraulic and
industrial hoses, conveyor belts, escalator handrails, construction profiles,
cable car rings, and products for railway superstructures. The headquarters of
this traditional Austrian company, which was founded in 1824, are located in
Vienna. The Semperit Group employs more than 7,000 people worldwide, including
close to 4,100 in Asia and more than 800 in Austria (Vienna and production site
in Wimpassing, Lower Austria). The group has 22 manufacturing facilities
worldwide and numerous sales offices in Europe, Asia, America and Australia. In
2015, the group generated sales of EUR 915 million and EBITDA of EUR 96
million.
end of announcement euro adhoc
company: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX GP
stockmarkets: official market: Wien
language: English
Digital press kit:
http://www.ots.at/pressemappe/2918/aom
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Semperit
Akt. Indikation: 11.58 / 11.70
Uhrzeit: 22:46:52
Veränderung zu letztem SK: 0.17%
Letzter SK: 11.62 ( 0.17%)
Bildnachweis
1.
Semperit Gruppe: Europäischer Innovationspreis EARTO 2016 geht an Semperit und PCCL, Seite 1/2, komplettes Dokument unter http://boerse-social.com/static/uploads/file_1898_semperit_gruppe_europaischer_innovationspreis_earto_2016_geht_an_semperit_und_pccl.pdf
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