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EANS-Adhoc: Semperit AG Holding / Best Half-Year Results Ever Despite Weak Economy (with photo)

Geschrieben am 13-08-2013

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Mid Year Results/6-month report
13.08.2013

* Revenue up 10.2% to EUR 451.4 million
* Double-digit growth in EBITDA (+21.9%) and EBIT (+16.5%)
* Medical Sector and Industrial Sector increase revenue, earnings and
profitability in spite of challenging economic conditions
* Stable development expected in the second half-year 2013

The publicly listed Semperit Group achieved the best half-year
results in its history based on a significant rise in revenue and
earnings. Despite the negative influences on global markets, Group
revenue climbed 10.2% from EUR 409.8 million in the prior-year period
to EUR 451.4 million. The Medical Sector generated considerable
revenue and earnings growth due to the ongoing integration of Latexx
Partners, the glove producer acquired in the previous year, which is
proceeding on schedule. The Industrial Sector was negatively impacted
by the weak economic environment. However, this situation was
successfully counteracted by the entry into new markets, strategic
growth projects and operational optimisations, leading to higher
revenue and earnings.

Group EBITDA rose 21.9% from EUR 53.9 million in the prior-year
period to EUR 65.8 million in the first half of 2013. In spite of
higher investment-related depreciation, EBIT was up 16.5% to EUR 43.7
million from EUR 37.5 million in the previous year. Accordingly,
profitability also increased. The EBITDA margin improved to 14.6% (H1
2012: 13.2%), and the EBIT margin increased to 9.7% (H1 2012: 9.2%).
Earnings after tax (net result) improved by 18.3% to EUR 28.2
million, compared to EUR 23.9 million in the first half of 2012.

"The first half-year went very well for Semperit in spite of the weak
economic situation and ongoing price pressure. The measures designed
to enhance profitability had a positive effect, and the company
successfully continued its growth path", says Chief Executive Officer
Thomas Fahnemann in assessing Semperit's performance for the first
half of 2013. "In the Industrial Sector we expanded the business in
all important regions, and significantly improved our profitability.
We successfully countered adverse economic headwinds and achieved
good double-digit earnings margins. We are also optimistic about
prospects for the second half of the year thanks to this strong
performance and a satisfactory order intake."

Semperit also performed well in the second quarter of 2013. Revenue
rose to EUR 236.2 million, an increase of 13.6% compared to the
second quarter of 2012 and 9.8% from the first quarter of 2013.
EBITDA improved by 23.2% from the prior-year quarter to EUR 36.4
million, and EBIT was up 18.9% to EUR 24.9 million. Both the EBITDA
margin (15.4%) and EBIT margin (10.6%) were in the double-digit
range.

Semperit continues to boast an extremely solid financial basis
featuring an equity ratio of 50.4% (December 31, 2012: 49.3%) and
cash and cash equivalents of EUR 111.9 million (December 31, 2012:
EUR 133.3 million). "Moreover, we further diversified Group financing
thanks to the successful placement of a corporate Schuldschein loan,
and took advantage of the current attractive interest rate level also
for long maturities", explains Chief Financial Officer Johannes
Schmidt-Schultes.

Medical Sector: Revenue and earnings growth due to acquisition of
Latexx Partners The Medical Sector (the Sempermed segment) profited
from the successful integration of Latexx Partners in the first half
of 2013 as well as an enhanced global sales performance. Sales
increased significantly in all important regions (Europe, North
America and Asia), thus compensating for negative price effects
related to low raw material prices. Capacity utilisation of
production sites in Malaysia and Thailand was raised to more than 80%
in the first half-year. The absence of one-off cost effects incurred
in the prior-year period also had a positive impact on the sector's
earnings development.

Revenue of the Medical Sector rose 19.8% in the first half-year to
EUR 218.3 million. Sector EBITDA improved by more than 50% to EUR
28.2 million. Accordingly, the EBITDA margin amounted to 12.9%,
compared to 10.1% in the prior-year period.

Industrial Sector: High profitability despite a weak market
environment The Industrial Sector (Semperflex, Sempertrans and
Semperform segments) succeeded in further increasing revenue,
earnings and profitability in spite of the difficult market
environment. Accordingly, double-digit EBIT margins were generated in
all three segments. This performance was made possible by an
efficient capacity and cost management as well as the implementation
of strategic growth projects. As a consequence, the sector attracted
new customers and posted market share increases.

The European operations of the Semperflex segment developed
satisfactorily, whereas business in the USA and Asia recovered
towards the end of the reporting period. Initial successes in the
field of industrial hoses were achieved in developing the markets
outside Europe, especially in Asia and the USA. In the segment
Sempertrans revenue once again grew in spite of lower raw material
prices by orienting the business towards higher quality products.
Volume increases in the Semperform segment more than compensated for
raw material and cyclically-related price decreases. Semperform
gained additional market share in Western and Eastern Europe in the
field of building profiles, whereas the handrails business maintained
its strong position in China and expanded its market position in the
USA and Europe.

Overall, revenue of the Industrial Sector rose by 2.4% to EUR 233.1
million. Sector EBITDA was up 8.6% to EUR 45.1 million. The EBITDA
margin was at an outstanding level of 19.4%, up from 18.3% in the
prior-year period.

Outlook The Semperit Group does not anticipate a sustainable recovery
of the global economy. However, an unchanged level of incoming orders
is expected for Semperit in the second half of 2013.

In the Medical Sector, the focus will be on continuing the
integration process and further increasing the capacity utilisation
of Latexx Partners. Price pressure will likely remain unabated due to
surplus production capacities on the global glove market.

Demand in the Industrial Sector is expected to be relatively stable
in the upcoming months. In particular, the Sempertrans segment
currently boasts good capacity utilisation. Positive demand in
Europe is predicted in the Semperflex segment. The energy industry,
commodities and infrastructure sectors are expected to provide
additional impetus to growth in the medium-term.

The growth target defined by the Semperit Group remains unchanged. On
average, double-digit revenue growth should be achieved in the period
2010-2015. The Group maintains its objective of achieving an EBITDA
margin between 12% and 15% in the coming years, whereas the EBIT
margin is expected to range between 8% and 11%.

The Half-Year Financial Report 2013 is available for download at
http://www.semperitgroup.com/en/ir.

Pictures with Announcement:
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http://resources.euroadhoc.com/us/E83zWwcF

Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com

Stefan Marin
Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com

www.semperitgroup.com

end of announcement euro adhoc
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Pictures with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/E83zWwcF


issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ViDX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien, stock market: Stuttgart,
Frankfurt
language: English


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