Semperit in the red as it starts major restructuring

Vienna, Austria – Prices of raw materials and an in-house strategic transformation initiative, a plant closure in France and impairments at its medical division have left Semperit Group in the red for the year 2017.

In a 16 March annual result statement, the Austrian rubber goods manufacturer said among the one-off effects, the restructuring measures had a €47-million negative impact on earnings.

Earnings (EBITDA) more than halved to €35.8 million in 2017, compared to €74.7 million the year before.

However, the company’s adjusted EBIT figures showed a loss…

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