Semperit records best Q1 2014 result ever

ERJ staff report (TP)

Vienna – Semperit AG, which makes rubber and plastic products for the medical and industrial markets, recorded the best first-quarter result in the company’s history during the first three months of 2014, achieving significant increases in revenue and earnings.

This latest development is on the back of fiscal 2013 being the “best result in the company’s history” – as ERJ reported on 28 March.

Revenue in Q1 2014 rose 8.1 percent year-on-year to €232.7m from €215.2m in the prior-year period. Both medical and industrial sectors contributed to growth based on strong sales performances and higher global sales.

Consolidated EBITDA improved by 14.0 percent to €33.4m from €29.3m in the previous year. EBIT climbed by 18.9 percent to €22.3m compared to the prior-year level of €18.8m.

Semperit achieved a net result (earnings after tax) of €13.1m, constituting an increase of 5.0 percent from the comparable level of €12.5m in Q1 2013.

“We grew faster than the market in the first quarter of 2014 because we succeeded in massively strengthening and further internationalising our sales activities. We expanded our product portfolio by adding new products which have been successful in the marketplace, and intensified our customer service. We are attracting new key accounts and further expanding the business with our existing customers,” said CEO Thomas Fahnemann.

In terms of debt and net liquidity – CFO Johannes Schmidt-Schultes said: “We are more or less debt-free thanks to our strong cash position, and still have a positive net liquidity of €51.4m after deducting the financing liabilities. As a consequence, the financing of future growth activities is secured.”

Semperit expects incoming orders to remain at a “good level” for the rest of 2014 as well as a “satisfactory development of revenue and earnings compared to 2013”.

It said the expansion of capacities for hydraulic and industrial hoses in Odry, Czech Republic and conveyor belts at the Belchatów site in Poland is “proceeding on schedule”. The additional production capacities will first be available in the first half of 2015.

Semperit plans to invest about €50-60m to boost production capacities and maintain its existing facilities. It reaffirms its previous growth targets of generating double-digit revenue growth on average in the years from 2010 to 2015. It aims for an EBITDA margin ranging between 12 and 15 percent and an EBIT margin of between 8 and 11 percent in the coming years.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Semperit