Vienna – Semperit AG has announced that is currently putting off a plan to separate its medical gloves business Sempermed as the unit continues to deliver profit in the aftermath of the Covid-19 pandemic.
Announcing “historic” records in 2020, Semperit said it currently saw “no reason to implement the separation”, but confirmed that the divestment was “still planned”.
“The temporary goal is to benefit from the attractive profit contributions from the medical business as long and as comprehensively as possible,” the group said 18 March.
The executive board, it said, is “very confident” that the pandemic-related positive effects in the medical business will continue in 2021.
Semperit saw a significant increase in sales and earnings throughout 2020, helped by Covid-driven demand for its Sempermed medical gloves products and its ongoing restructuring measures.
The Vienna-based group delayed its planned divestment of Sempermed last year on the back of “extremely positive” contribution of the unit to the group's earnings.
In addition, the group said it intended to implement “one or more comprehensive company acquisitions” in the year 2021, as part its delayed transformation strategy within its industrial segment.
As a result, Semperit said it might deviate from a dividend pay-out ratio of 50% of its earnings after tax this year to build the financial strength required.
The executive board, said the Semperit statement, expects a “perceptible recovery of the markets in the industrial sector for 2021.”