Semperit reports 73% decline in earnings as gloves unit swings to loss

Vienna – Semperit Holding AG has seen a 73.5% decline in earnings for the first nine months of the year, due mainly to a decline in demand for rubber gloves and a strong comparison base the year before.

EBITDA (earnings) fell to €86 million over the first nine months, representing an earnings margin of 10.3%, down 24.7 percentage points from the first three quarters of 2021.

Revenue for the period fell 10.4% to €830 million, reflecting a 47% decline in medical gloves sales to €271 million.

The medical unit, which mainly manufactures medical rubber gloves, saw earnings go into negative territory with a loss of €4 million, compared to a positive €277 million development reported the year before.

By contrast, Semperit’s industrial sector – including Semperflex hose production unit, Sempertrans conveyor belts, Semperform gasket and sheeting unit and Semperseal seals manufacturing business – recorded a strong growth during the quarter.

The unit reported 36.5% higher sales to €558 million, as all segments saw sales increase during the first nine months of the year.

Sector’s earnings grew 55.6% to €100 million during the period, reflecting growth across all segments, bar Semperseal.

“[Semperit] managed to defy the challenging market environment and the increasing economic slowdown with a strong performance in the Industrial Sector,” said CEO Karl Haider.

“This reinforces once again that consistently pursuing our group’s transformation into an industrial rubber specialist is the right path,” he added.

Commenting on Semperit’s previously announced plans to divest its Sempermed medical gloves unit, Haider said the group was “taking gradual steps towards a prompt separation”.

Semperit, he said, has held initial talks with potential buyers.