EANS-Adhoc: Semperit AG Holding
ACTIVE RAW MATERIAL MANAGEMENT ENABLES REVENUE
AND EARNINGS INCREASE IN FIRST HALF OF 2011
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 09.08.2011 ACTIVE RAW MATERIAL MANAGEMENT ENABLES REVENUE AND EARNINGS INCREASE - Revenue up 23% to EUR 406 million - EBIT increase to EUR 42 million despite margin pressure - Earnings after tax rise 16% to almost EUR 26 million - Earnings per share of EUR 1.24 Vienna, August 9, 2011 - The first half of 2011 was characterised by a gratifying economic development in all relevant markets for the Semperit Group. Against the backdrop of an extremely volatile raw material development, Semperit succeeded in continuing its strategy of achieving profit-oriented growth. Accordingly, total revenue of the Semperit Group rose by 22.9%, from EUR 330.3 million in the prior-year period to EUR 406.1 million in the first six months of 2011. The increase was due to selling price increases reflecting the passing on of raw material price hikes to customers with a time delay, as well as volume growth. Earnings before interest, tax, depreciation and amortisation (EBITDA) at EUR 56.4 million were 5.7% above the previous year. The operating profit (EBIT) improved by 8.6%, from EUR 38.5 million to EUR 41.8 million. Earnings after tax were up 16.3%, rising to EUR 25.5 million from the prior-year level of EUR 22.0 million. The industrial sector (Semperflex, Semperform, Sempertrans) achieved attractive volume growth with sales increasing by 27.7% to EUR 226.9 million. Revenue growth in the medical sector of 17.4%, from EUR 152.6 million to EUR 179.2 million, was mostly the result of selling price increases. STRATEGIC ORIENTATION - GROUNDWORK LAID FOR FURTHER ORGANIC GROWTH The medical sector with the Sempermed division (production of surgical, examination and protective gloves) remains the most important growth driver despite the volatile raw material prices. In addition to the existing plants, new production facilities in Thailand as well as a factory for porcelain dip moldings in Malaysia are being added to serve as the basis for manufacturing the gloves. In the medium-term, the total capacity of Semperit´s medical sector will be expanded to 23 billion pairs of examination gloves annually. Semperflex (production of hydraulic and industrial hoses and rubber sheeting), a strategically important growth area for the Semperit Group, will also expand production capacities at its plants in the Czech Republic, Thailand and China. The Sempertrans division (production of steel and textile carcass conveyor belts) is focusing on implementing restructuring measures to enhance productivity. Demand in the rapidly growing Indian market for conveyor belts is being fulfilled by a 30% expansion in capacity at the Indian production plant. The Semperform division should be able to continue successfully serving niche markets in the future thanks to its high-quality products in the field of industrial moulded goods, handrails and special applications. The existing handrail production facility in China will increase capacity by about 15% in order to fulfil the strong demand. On balance, approximately EUR 10 million will be invested in the upcoming months for capacity expansion projects for Semperit´s industrial products. OUTLOOK Revenue growth is expected to continue in the second half of 2011, driven by good demand as well as by higher selling prices. Semperit is counteracting the challenges prevailing on raw material markets on the basis of its global raw material management, a revised procurement approach, a pro-active inventory policy as well as the flexible use of raw material mixes. Furthermore, measures are being implemented throughout the entire Group to increase productivity and efficiency. "Sales in the second half of the year are expected to be below the comparable level in the first half-year due to seasonality and as a result of the scheduled inspection and maintenance-related production standstill at the Wimpassing plant. Nevertheless, in the light of the wide range of planned and implemented measures, I anticipate a satisfactory earnings development of the Semperit Group", says Semperit CEO Thomas Fahnemann. The Half-Year Financial Report is available immediately for downloading at www.semperit.at. Further inquiry note: Semperit AG Holding Ms. Martina Büchele Tel.: +43 (1) 79 777-621 E-mail: martina.buechele@semperit.at end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Semperit AG Holding Modecenterstrasse 22 A-1030 Wien phone: +43 1 79 777-210 FAX: +43 1 79 777-602 mail: investors@semperit.at WWW: www.semperit.at sector: Synthetics & Plastics ISIN: AT0000785555 indexes: WBI, ViDX, ATX stockmarkets: stock market: Frankfurt, Stuttgart, free trade: Berlin, official market: Wien language: English
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