18.08.2016,
8096 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
quarterly report
Revenue with EUR 438.7 million (-2.7%) slightly below previous year's level despite market weakness\nImproved EBITDA (+4.8%) and stable EBIT (+/-0.0%)\nPersistently challenging market environment expected for the second half of 2016\nThe publicly listed Semperit Group generated a stable operational development
in the ongoing difficult market environment of the first half of 2016. Despite
the weak economy, Semperit generated a further increase in revenue with high
profitability in the Industrial Sector. This allowed for largely offsetting the
weaker development of the Medical Sector. Group revenue amounted to EUR 438.7
million in the first half of 2016 and was slightly below the previous year's
figure of EUR 450.8 million. Semperit improved the group's EBITDA by 4.8% to
EUR 52.8 million (after EUR 50.3 million). EBIT was stable in comparison with
the previous year at EUR 36.2 million (after EUR 36.2 million). The EBITDA
margin and the EBIT margin improved slightly to 12.0% (after 11.2%) and 8.3%
(after 8.0%) respectively.
"Due to our strong sales performance, a capacity utilisation above the industry
average and new capacities in the Industrial Sector, we showed a stable
operational development in the first half of 2016. However, the low demand in
economically sensitive fields and the cost pressure due to rising energy and
raw material prices combined with weak sales prices in the glove business are
beyond our influence. We are taking countermeasures by using a focused sales
strategy and programmes for optimisation and efficiency enhancement as well as
by opening up new markets. This and our new highly efficient production sites
make us well prepared to perform better than the market even in the current
environment," CEO
Thomas Fahnemann comments on the half-year results.
In the second quarter of 2016, the Industrial Sector achieved further revenue
growth as opposed to a decrease in revenue and earnings in the Medical Sector.
Corporate revenue decreased to EUR 219.2 million (after EUR 233.4 million) in
the second quarter of 2016. EBITDA declined to EUR 26.1 million (after EUR 28.5
million) and EBIT to EUR 17.6 million (after EUR 21.0 million).
Semperit boasted a sound capital basis as reflected by its equity ratio of
36.7% at the reporting date of June 30, 2016 (December 31, 2015: 38.7%). Cash
and cash equivalents amounted to EUR 133.0 million on June 30, 2016 compared to
EUR 126.4 million at the end of 2015. "Our cash balance has increased again,
although we currently run the largest investment programme in corporate history
and we have paid an attractive dividend in the second quarter. This positive
development shows our high ability to generate cash even in a difficult
environment," states Semperit CFO
Johannes Schmidt-Schultes.
Industrial Sector: Increase in revenue and earnings The Industrial Sector
(Semperflex, Sempertrans and Semperform segments) showed a very satisfying
development contrary to the market trend.
The Semperflex segment generated continuing high profitability thanks to
excellent production and sales performances in a declining market. The
Sempertrans segment was able to defend its positioning in core markets and
expand its market position in new regions and market segments. In a weak market
environment, the Semperform segment profited from the successful integration of
the German profile manufacturer Leeser, as well as the increase in market share
in the handrail business.
Revenue of the Industrial Sector rose 3.7% to EUR 269.0 million in the first
half of 2016. EBITDA climbed 2.3% to EUR 52.3 million.
Medical Sector: Difficult market environment The Medical Sector (Sempermed
segment) was impacted by a difficult market environment. During the reporting
period, increased energy and raw material prices could not be passed on to the
market yet due to high competitive and price pressures. The burdening
influences of the cooperation with the joint venture partner in Thailand
continued and increasingly have a negative effect on the earnings situation of
the segment. Additionally, non-recurring costs related to the ongoing capacity
expansion in Malaysia were experienced and more low-margin trade items were
sold.
Revenue of the Medical Sector decreased by 11.4% to EUR 169.7 million in the
first half of 2016 due to heavy price pressure and the focus on high-margin
customer relationships. EBITDA decreased to EUR 7.9 million (after EUR 11.6
million).
Compared to the first half of 2015, when Semperit still entered exceptionally
high foreign currency gains, the foreign currency effects were overall negative
in the first half of 2016. Moreover, interest expenses and income taxes due to
non-recurring effects had increased. In summary, the Semperit Group generated
earnings after taxes amounting to EUR 17.9 million (after EUR 25.3 million) in
the first half of 2016 despite the stable operational results.
Outlook 2016 Semperit expects no significant changes of the market conditions
for the second half of 2016. The generally low demand in the Industrial Sector
is expected to continue due to the current economic situation. Demand in the
economically insensitive Medical Sector is expected to develop steadily with
higher raw material and energy costs and continuing price pressure.
From the current perspective, the Semperit Group is not capable of achieving
the operational results of 2015 due to the unsatisfactory income contribution
of the Sempermed segment. In the Industrial Sector, Semperit refers to a good
order situation for the next months, even though a slowdown is possible in some
business segments. In the Medical Sector, the focus will be on the
implementation of further production capacities in Malaysia. The profitability
shall be improved by continuing process optimisations and efficiency
enhancements as well as realising a cost reduction programme. The burdens due
to the Thai joint venture will probably persist.
The Semperit Group will continue its growth strategy consistently despite
challenging conditions. The focus will be on entering into new markets in the
Industrial Sector and on the expansion and optimisation of existing production
capacities. In the Medical Sector, the focus will be set on the expansion of
the glove production in Malaysia in addition to further production and sales
optimisations as well as efficiency enhancements. Altogether, capital
investments (CAPEX) of approximately EUR 60 million are planned for 2016.
As of now, the report on the first half 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 in more than
100 countries highly specialised rubber products 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
long-standing Austrian company, which was founded in 1824, are located in
Vienna. The Semperit Group employs more than 7,000 people worldwide, including
about 4,000 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, Australia and America. In 2015 the
group generated sales of EUR 915 million and an 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
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/2918/aom
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Semperit
Akt. Indikation: 10.86 / 11.00
Uhrzeit: 13:03:44
Veränderung zu letztem SK: 0.28%
Letzter SK: 10.90 ( 0.37%)
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