Vienna – Semperit AG has delayed the publication of the group’s interim third quarter report due to a potential impairment loss at its Sempermed medical unit.
“Based on the current insights… into the competitive environment of the medical business, a significant impairment loss might occur in the medical sector,” said the Austrian rubber group in a 13 Nov statement without giving further details.
The publication of the report, which was planned for 21 Nov, has been postponed to an unannounced date. Semperit said the new date would be disclosed separately.
On 21 Nov the group will present “a shortened reporting”, the company added.
Semperit’s medical unit produces goods for medical sector including latex gloves.
The segment is currently going through a restructuring process as part of the group’s major turnaround initiative, launched in 2018.
In August, Semperit reported that the unit had seen continued strong competitive and price pressures, especially in North America for the first half of the year.
Segment sales were down 5.9% at €148 million while earnings went into negative territory with a loss of €300,000.
At the time, however, Semperit said that the segment was “returning to profitability”, having registered positive EBITDA since March.
“[In Sempermed] The measures initiated in the course of the restructuring and transformation process have shown first positive effects, although their sustainability still has to be proven,” Semperit said in August, without giving further details.