Vienna – Semperit Group has posted sharp falls in revenue and earnings amid “ongoing difficult market environment,” the Austrian rubber manufacturer announced 17 Nov.
Group revenue fell 6.4% to €647.6 million in the first three quarters of 2016 with earnings (EBITDA) down by 4.2% at €72.2 million. EBIT dropped by 13.5% at €46.7 million.
Despite negative effects of high price pressure, Sepmerit said, the Industrial Sector increased sales volumes and gained market share.
“We were confronted with declining demand and high price pressure above all in…