EANS-Adhoc: Semperit AG Holding Continuous growth in the first quarter of 2012
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quarterly report
15.05.2012
- Revenue up 4.2% to EUR 201.8 million
- Industrial sector achieves significant rise in earnings, Medical sector
burdened by high competitive pressure and energy costs
- Net profit for the period increases by 3.3% to EUR 11.6 million
- EBIT decline of 8.3% to EUR 16.5 million
Vienna, May 15, 2012 - The first three months of 2012 proceeded satisfactorily
for the Semperit Group. Despite a difficult economic environment, the company
continued on its growth path, increasing revenue by 4.2% to EUR 201.8 million,
compared to EUR 193.7 million in the prior-year period. The first quarter of
2012 was the third strongest in terms of revenue in the company's history, and
helped Semperit to achieve market share gains, both in the Sempermed segment
(gloves) and the Semperflex segment (hoses).
In the Industrial sector, all segments made a positive contribution to
earnings. In contrast, tougher competitive conditions, higher energy costs and
the start-up phase for the new plant in Surat Thani, Thailand, burdened
earnings in the Medical sector.
EBITDA (Earnings before interest, tax, depreciation and amortisation) amounted
to EUR 24.4 million, down slightly by 3.7% from EUR 25.3 million in the
previous year. The operating result (EBIT) declined by 8.3%, from EUR 18.0
million to EUR 16.5 million.
The net profit for the period improved by 3.3% to EUR 11.6 million compared to
EUR 11.2 million in the previous year. As a consequence, earnings per share for
the first quarter of 2012 totaled EUR 0.56, compared to EUR 0.54 in the prior-
year quarter.
The positive revenue development was related to the volume increase for
examination gloves in the Sempermed segment and the hydraulic hose business of
Semperflex. In contrast, volumes dropped in the other segments. Semperit
carried out upward selling price adjustments in all segments, which was
necessitated by significantly higher raw material prices. Moreover, in the
Sempertrans segment the portfolio shift from standard textile-reinforced
conveyor belts to higher quality steel-reinforced products had a positive
effect on selling prices.
First-quarter investments in tangible and intangible assets amounted to EUR 8.6
million, compared to EUR 9.5 million in the first three months of 2011. These
investments mainly related to replacement and expansion investments in the
Semperflex segment at the sites in the Czech Republic, Thailand and China as
well as the new glove production plant in Thailand.
Equity of the Semperit Group amounted to EUR 387.6 million, a rise of EUR 15.1
million from the level at the end of 2011. Cash and cash equivalents were up to
EUR 116.8 million (December 31, 2011: EUR 97.9 million).
Outlook
Semperit expects a slow but steady improvement of the overall economic
environment in 2012 and a more dynamic development of the global economy
starting in 2013.
In the Sempermed segment, previously initiated production and sales
optimisation efforts should enable an earnings improvement as of the second
quarter of 2012. However, Sempermed expects ongoing excess production capacity
for examination gloves and aggressive competition.
The current steady business development is anticipated to continue in the
Industrial sector. The new Semperflex production units for hydraulic hoses in
the Czech Republic, Thailand and China will commence operations in the second
half of 2012, and benefit from an impetus for sales growth on the Asian and
Latin American markets as well as in the energy sector, the manufacturing of
agricultural products and the raw material sector.
The Semperit Group confirms its mid-term growth objectives. On average, a
double-digit revenue increase should take place in the years up to and
including 2015 while maintaining a profitability level (EBIT margin) of about
10%.
In the short term the markets continue to feature limited visibility, in
particular with respect to raw material price developments. For this reason, it
is not possible to make a well founded outlook regarding revenue and earnings
trends for the 2012 fiscal year at the present time.
The Report for the 1st Quarter 2012 is available for download at:
http://www.semperit.at/ir
Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperit.at
Clemens Taschée
Head of Group Accounting
Tel.: +43 (1)79 777-230
clemens.taschee@semperit.at
Stefan Marin
Investor Relations
Tel.: +43 (1)79 777-210
stefan.marin@semperit.at
end of announcement euro adhoc
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-230
FAX: +43 1 79 777-602
mail: investors@semperit.at
WWW: www.semperit.at
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ViDX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien, stock market: Stuttgart,
Frankfurt
language: English