EANS-Adhoc: Semperit AG Holding ACTIVE RAW MATERIAL MANAGEMENT ENABLES REVENUE
AND EARNINGS INCREASE IN FIRST HALF OF 2011
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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09.08.2011
ACTIVE RAW MATERIAL MANAGEMENT ENABLES REVENUE AND EARNINGS INCREASE
- Revenue up 23% to EUR 406 million
- EBIT increase to EUR 42 million despite margin pressure
- Earnings after tax rise 16% to almost EUR 26 million
- Earnings per share of EUR 1.24
Vienna, August 9, 2011 - The first half of 2011 was characterised by a
gratifying economic development in all relevant markets for the Semperit Group.
Against the backdrop of an extremely volatile raw material development, Semperit
succeeded in continuing its strategy of achieving profit-oriented growth.
Accordingly, total revenue of the Semperit Group rose by 22.9%, from EUR 330.3
million in the prior-year period to EUR 406.1 million in the first six months of
2011. The increase was due to selling price increases reflecting the passing on
of raw material price hikes to customers with a time delay, as well as volume
growth.
Earnings before interest, tax, depreciation and amortisation (EBITDA) at EUR
56.4 million were 5.7% above the previous year. The operating profit (EBIT)
improved by 8.6%, from EUR 38.5 million to EUR 41.8 million. Earnings after tax
were up 16.3%, rising to EUR 25.5 million from the prior-year level of EUR 22.0
million.
The industrial sector (Semperflex, Semperform, Sempertrans) achieved attractive
volume growth with sales increasing by 27.7% to EUR 226.9 million. Revenue
growth in the medical sector of 17.4%, from EUR 152.6 million to EUR 179.2
million, was mostly the result of selling price increases.
STRATEGIC ORIENTATION - GROUNDWORK LAID FOR FURTHER ORGANIC GROWTH
The medical sector with the Sempermed division (production of surgical,
examination and protective gloves) remains the most important growth driver
despite the volatile raw material prices. In addition to the existing plants,
new production facilities in Thailand as well as a factory for porcelain dip
moldings in Malaysia are being added to serve as the basis for manufacturing the
gloves. In the medium-term, the total capacity of Semperit´s medical sector will
be expanded to 23 billion pairs of examination gloves annually.
Semperflex (production of hydraulic and industrial hoses and rubber sheeting), a
strategically important growth area for the Semperit Group, will also expand
production capacities at its plants in the Czech Republic, Thailand and China.
The Sempertrans division (production of steel and textile carcass conveyor
belts) is focusing on implementing restructuring measures to enhance
productivity. Demand in the rapidly growing Indian market for conveyor belts is
being fulfilled by a 30% expansion in capacity at the Indian production plant.
The Semperform division should be able to continue successfully serving niche
markets in the future thanks to its high-quality products in the field of
industrial moulded goods, handrails and special applications. The existing
handrail production facility in China will increase capacity by about 15% in
order to fulfil the strong demand.
On balance, approximately EUR 10 million will be invested in the upcoming months
for capacity expansion projects for Semperit´s industrial products.
OUTLOOK
Revenue growth is expected to continue in the second half of 2011, driven by
good demand as well as by higher selling prices.
Semperit is counteracting the challenges prevailing on raw material markets on
the basis of its global raw material management, a revised procurement approach,
a pro-active inventory policy as well as the flexible use of raw material mixes.
Furthermore, measures are being implemented throughout the entire Group to
increase productivity and efficiency.
"Sales in the second half of the year are expected to be below the comparable
level in the first half-year due to seasonality and as a result of the scheduled
inspection and maintenance-related production standstill at the Wimpassing
plant. Nevertheless, in the light of the wide range of planned and implemented
measures, I anticipate a satisfactory earnings development of the Semperit
Group", says Semperit CEO Thomas Fahnemann.
The Half-Year Financial Report is available immediately for downloading at
www.semperit.at.
Further inquiry note:
Semperit AG Holding
Ms. Martina Büchele
Tel.: +43 (1) 79 777-621
E-mail: martina.buechele@semperit.at
end of announcement euro adhoc
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investors@semperit.at
WWW: www.semperit.at
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ViDX, ATX
stockmarkets: stock market: Frankfurt, Stuttgart, free trade: Berlin, official
market: Wien
language: English