EANS-Adhoc: Semperit AG Holding
Half Year Results 2009
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6-month report
14.08.2009
PRESS RELEASE
Semperit: EBT increased in first half-year 2009
. Revenue decreased by 9.3% to EUR 296.1 million
. EBT increased by 9.0 % to EUR 35.0 million
. Outlook remains difficult for 2009Vienna, Austria, August 14, 2009 - Even Semperit was not able to extract itself from the global economic downturn. There were some signs that the economic crisis bottomed out and stabilised at a low level towards the end of the second quarter of 2009, however, from today's point of view, no reliable forecast can be made in respect to the point in time or the scale of a sustainable recovery.
| |1-6/2008 |1-6/2009 |Change in % | |Revenue in EUR million |326.4 |296.1 |-9.3 | |EBIT in EUR million |33.2 |33.9 |+2.0 | |EBT in EUR million |32.2 |35.0 |+9.0 |
Despite the 9.3% decline in revenue to EUR 296.1 million, earnings before interest and tax (EBIT) of the Semperit Group, at EUR 33.9 million, were 2.0% above the previous year's level. The negative development in cyclically- dependent business areas, in particular the Semperflex division, could be more than compensated for by a disproportionate earnings increase at Sempermed. Earnings before tax (EBT) rose 9.0%, to EUR 35.0 million, which is also related to the improved financial result. Minority interests rose to EUR 7.9 million, primarily due to the high earnings contribution of the joint venture Siam Sempermed in Thailand. As a consequence, the net profit for the period of the Semperit Group was down 19.0%, to EUR 19.0 million.
Performance of the divisions
Total revenue of the Sempermed division rose 21.8% to EUR 135.5 million. Earnings before tax improved considerably, rising to EUR 21.5 million (previous year: EUR 6.4 million). This development can be primarily attributed to successful product positioning and the pursuit of high cost targets as well as a relaxation on raw material markets.
The Semperflex division was most negatively impacted by the recession in the first half of 2009 with revenue declining by 40.0% to EUR 53.6 million. Earnings before tax were down to EUR 1.1 million (previous year: EUR 11.3 million), despite adjustments carried out to reduce fixed costs.
Total revenue of the Semperform division fell by 20.3% in the first half-year 2009, to EUR 48.1 million. Earnings before tax declined by 43.8% to EUR 5.2 million.
The Sempertrans division registered a revenue decrease of 10.1%, to EUR 58.9 million, however this can be considered as satisfactory in the light of the difficult market environment. Earnings before tax were at the previous year's level at EUR 7.5 million.
Outlook
Even after six months, it is still difficult to make any reliable forecasts regarding the business development of the Semperit Group for the year 2009. The Management Board assumes the Sempermed division will achieve considerably higher revenue than in the previous year. The extent to which the contraction in demand in the other divisions will impact Group revenue and earnings in the end remains unpredictable. The complete half-year report is available under www.semperit.at.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Semperit AG Holding
Investor Relations
DI Michael Wolfram
Tel.: +43 (1) 79 777-583
E-Mail: michael.wolfram@semperit.at
Branche: Synthetics & Plastics
ISIN: AT0000785555
WKN: 870378
Index: WBI, ATX Prime, ViDX
Börsen: Frankfurt / stock market
Stuttgart / stock market
Berlin / free trade
Wien / official market
Original content of: Semperit AG Holding, transmitted by news aktuell