Vienna – Semperit AG Holding has extended its restructuring programme to include its Sempertrans and Semperform business units, the Austrian group announced 24 Jan.
The move represents a new restructuring phase, following the introduction of optimisation measures in the Sempermed segment, in response to continuing financial losses.
For its Semperflex and ‘mixing’ units, the management board will focus on “accelerating the profitable implementation of the still necessary investment projects” and organic growth.
Restructuring measures will include: Optimising operational production and acquisition processes; Improving pricing and price-setting processes; Reviewing the production footprint; Stabilising and improving operational earnings
“We have identified significant potentials for an increase in earnings and will initiate appropriate implementation measures from now on,” said Martin Füllenbach, chairman of Semperit AG Holding.
“With substantial restructuring and complexity reduction, we aim to find new strength and profitability by 2020,” added Füllenbach.
Semperit expects its transformation process to run until the end of 2020 and to enable it to achieve an EBITDA margin of around 10% soon after. Fiscal 2018 will, therefore, be “considered as a year of transition.”