Glove maker Semperit reports strongest ever Q1

ERJ staff report (LMH)

Vienna – Semperit AG, which makes rubber and plastic products for the medical and industrial markets, has reported the strongest first-quarter in the company’s history. Revenue in the first three months of 2013 grew by 6.6% from the same period in 2012, totalling €215.2 million.

First-quarter earnings (EBITDA) grew by 20.4% year-on-year to €29.3 million. Semperit noted that profitability increased accordingly. The EBITDA margin improved 13.6%, compared to 12.1% in Q1 2012.

In the medical business known as Sempermed, which includes surgical and examination gloves, sales increased 21.4% to €106.8 million, while earnings improved by 87.6% to €12.2 million. Semperit said the acquisition and subsequent integration of Latexx Partners showed immediate results for the company. Sales were significantly increased in Europe, America and Asia, Semperit said.

In the industrial business, which includes hoses and conveyor belts, the weak economic environment had a cooling off effect on revenues in Q1, Semperit said. Sales of €108.4 million were down 4.7% from the previous year. Earnings were up slightly at €20.3 million from €19.6 million in Q1 2012.

Semperit said it expects a significant increase in consolidated revenue in 2013, mainly driven by the full year consolidation of Latexx Partners.

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News release from Semperit