EANS-Adhoc: Semperit AG Holding Record Revenues and Best Result in the
Company's History in 2013 (with photo)
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annual result/annual report
27.03.2014
- Revenue increase of 9.4% to EUR 906.3 million despite the weak economy
- Significant rise in EBITDA (+21.9%) and EBIT (+21.1%)
- Growth and enhanced profitability in both sectors
- Dividend proposal of EUR 0.90 per share (basic dividend, 2012: EUR 0.80) plus
EUR 0.30 anniversary bonus
- Satisfactory development expected in 2014
Vienna, March 27, 2014. - The publicly listed Semperit Group recorded the best
result in the company's history, generating record revenue of EUR 906.3 million
in 2013, up from EUR 828.6 million in 2012. In the Medical Sector, the
successful integration of the glove producer Latexx Partners (acquired in 2012)
as well as intensified sales activities served as the basis for double-digit
revenue and earnings growth. Semperit achieved market share gains in the
Industrial Sector and substantial increases in revenue and profitability against
the backdrop of a weak market environment.
The Group's consolidated EBITDA increased by 21.9%, from EUR 108.7 million in
2012 to EUR 132.5 million. Despite the growth investments related increase in
depreciation, EBIT rose by 21.1% to EUR 87.8 million, up from the prior-year
level of EUR 72.5 million. In addition to the strong operating performance of
the company, the strategic raw material management and cost discipline played a
significant role in raising earnings. Profitability improved accordingly. The
EBITDA margin climbed from 13.1% to 14.6% year-on-year, whereas the EBIT margin
climbed to 9.7% from 8.8% in the previous year. Semperit achieved a net result
(earnings after tax) of EUR 54.9 million, constituting an increase of 18.8% from
the comparable level of EUR 46.2 million in 2012. The Management Board will
propose the distribution of an increased basic dividend of EUR 0.90 per share
(2012: EUR 0.80) to the Annual General Meeting along with a one-time anniversary
bonus of EUR 0.30 per share to commemorate the company's 190th year of
operation.
"In the face of a challenging business environment, Semperit developed
outstandingly in 2013, generating the best result in the company's history. We
pushed ahead with our strategic growth projects in all segments and optimally
managed our raw material demand", says Semperit CEO Thomas Fahnemann in
assessing the Group's performance in 2013. "In the Sempermed segment, the
successful integration of Latexx Partners and our investments in sales and
marketing particularly paid off in 2013. The consequences were double-digit
volume growth in the medical glove business and new large international
customers for our industrial gloves. In the Industrial Sector we also expanded
faster than the market in Europe and the USA, opening up new regions and markets
thanks to new products and our sales drive. Our production capacities are well
utilised. For this reason, we will invest up to EUR 60 million in 2014 to expand
our production facilities and secure long-term growth", CEO Fahnemann adds.
Semperit continues to boast a sound capital basis as reflected by its equity
ratio of 48.3% at the reporting date (December 31, 2012: 49.3%). Cash and cash
equivalents rose from EUR 133.3 million to EUR 182.6 million as a result of the
strong operating cash flow generation and the cash inflows from the Corporate
Schuldschein loan. "Semperit also features an outstanding level of financial
stability in addition to its excellent cash position. We have a positive net
liquidity of EUR 43.3 million after deducting all financial liabilities",
explains Semperit CFO Johannes Schmidt-Schultes. "The continuation of our growth
path is secured. On the basis of our earnings and financial position, we will
propose a dividend increase to the Annual General Meeting compared to the
previous year", CFO Schmidt-Schultes adds.
Medical Sector: Substantial revenue and earnings increases
In the Medical Sector (the Sempermed segment), the integration of Latexx
Partners, an improved coordination of the company's sales efforts and
disciplined cost management resulted in a substantial rise in revenue and
earnings. Moreover, the intensified sales activities led to significantly higher
sales volumes. 31% more examination gloves were sold in 2013 than in 2012. The
ongoing negative price effects caused by the lower raw material prices compared
to 2012 were more than offset. Capacity utilisation at the Sempermed production
plants was very good (above 80%) during the reporting period.
Revenue of the Medical Sector rose 13.4% in 2013 to EUR 434.9 million in 2013.
EBITDA was up 41.2% to EUR 58.7 million, providing an improved EBITDA margin of
13.5% compared to 10.8% in the prior year.
Industrial Sector: Growth and high profitability despite the weak economic
conditions
The Industrial Sector (the Semperflex, Sempertrans and Semperform segments)
showed a strong business development in spite of the challenging macroeconomic
environment. New markets were opened up and market shares gained thanks to new
products and the expansion of sales activities.
The development of the Semperflex segment was characterised by sales successes
in Europe and the USA, efficient raw material procurement and anticipating
production planning. Semperflex increased its market share for both hydraulic
and industrial hoses. As a result, the production plants operated at almost full
capacity. The Sempertrans segment generated a significant increase in earnings,
primarily driven by the strategic focus on more profitable product groups and
the enhanced internationalisation. Considerable volume growth led to full
capacity utilisation of its European production plants. The Semperform segment
also generated double-digit sales growth as well as substantial revenue and
earnings increases. All key business units contributed to this development with
higher sales volumes, which more than compensated for the negative price
effects.
Revenue of the Industrial Sector was up 5.9% in 2013 to EUR 471.5 million.
EBITDA of the Industrial Sector increased by 12.4% to EUR 90.1 million,
resulting in an excellent EBITDA margin of 19.1%, up from 18.0% in the previous
year. Moreover, significant double-digit EBIT margins were generated in all
segments.
Outlook 2014 and multi-year targets
The Semperit Group expects a continuation of the current good level of incoming
orders and a satisfactory development of revenue and earnings in 2014. However,
no significant growth impetus is anticipated.
The focus of the Sempermed segment will be on further enhancing the efficiency
of the individual production plants and the overall profitability of the
segment. The Semperit Group assumes that demand for examination and protective
gloves will continue to rise.
A stable development is expected in the Industrial Sector in 2014. Due to the
fact that production capacities are already being fully utilised in the
Semperflex and Sempertrans segments, Semperit decided in 2013 to expand its
capacities for hydraulic and industrial hoses in Odry, Czech Republic and
conveyor belts at the Be?chatów site in Poland. The additional production
capacities will be available in the first half of 2015.
Semperit plans to invest about EUR 50-60 million in boosting production
capacities. Thereof EUR 25 million will be invested in the maintenance of its
existing facilities.
The Group reaffirms its previous growth target of generating double-digit
revenue growth on average in the years from 2010 to 2015 inclusive. The Semperit
Group still aims to achieve an EBITDA margin of between 12% and 15% and an EBIT
margin of between 8% and 11% in the coming years.
The annual financial report for the year 2013 is available for download at
http://www.semperitgroup.com/en/ir/publications/annual-reports/.
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 and plastic 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, and the global R & D
centre is in Wimpassing, Lower Austria. The Semperit Group employs about 10,300
people worldwide, including more than 7,000 in Asia and more than 700 in Austria
(Vienna and production site in Wimpassing, Lower Austria). The Group has 22
manufacturing facilities worldwide and numerous sales offices in Europe, Asia,
and America.
Pictures with Announcement:
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Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.comwww.semperitgroup.com
Stefan Marin
Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com
end of announcement euro adhoc
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Pictures with Announcement:
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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: 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