EANS-Adhoc: Semperit AG Holding / Satisfactory Business Development in 2014 despite Weak Economic Environment

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Financial Figures/Balance Sheet
26.03.2015

- Revenue up 2.6% to EUR 930.4 million - Improved EBITDA and EBIT -
Dividend proposal: basic dividend of EUR 1.10 per share plus a
one-time special dividend of EUR 4.90 per share - Satisfactory
business development expected in 2015 against the backdrop of an
ongoing challenging business environment

The publicly listed Semperit Group showed a satisfactory revenue and
earnings development in 2014 in spite of a weak economic climate.
Revenue rose 2.6% year-on-year to EUR 930.4 million. This growth can
be attributed to strong sales performances and high capacity
utilisation in both the Medical and Industrial Sectors. This more
than compensated for negative price effects related to the ongoing
low raw material prices. Double-digit sales growth was generated once
again in the Medical Sector, whereas the revenue increase in the more
cyclically-dependent Industrial Sector was driven by the strong
development of the Semperflex segment.

With respect to earnings indicators, Semperit showed an improvement
in EBITDA and EBIT. The Group's consolidated EBITDA rose 2.7% from
the prior-year level to EUR 136.1 million. EBIT was up slightly by
0.8% to EUR 88.5 million. This growth was due to higher revenue as
well as a positive effect relating to the change in consolidation of
the Thai joint venture company Siam Sempermed Corp. Ltd. (SSC) from
full to at-equity consolidation. The EBITDA margin of 14.6% (2013:
14.6%) and the EBIT margin of 9.5% (2013: 9.7%) remained at a solidly
high level. Semperit achieved a net result (earnings after tax) of
EUR 49.7 million in 2014, down from EUR 54.9 million in 2013, which
is attributable to a higher income tax expense from prior periods as
well as tax postings related to the previously mentioned change in
consolidation.

"We started the year 2011 with the goal of accelerating Semperit's
growth. Today we can report that we raised sales volumes by up to 80%
in the period 2010 to 2014, and substantially increased revenue in
spite of the drastic drop in raw material prices. We strengthened our
sales performance, successfully implemented acquisitions and launched
the biggest investment programme in the company's history. We are
well on track even if important stages in the growth of the company
are still ahead of us. As a result, we are very well positioned to
grow further in the years ahead even when faced with a difficult
economic environment. We proved this to be true in 2014", says
Semperit CEO Thomas Fahnemann, commenting on the company's business
results.

Semperit invested a total of EUR 74.4 million in 2014 (2013: EUR 49.7
million) to expand and modernise its production plants. This
represents the highest investment volume to date in the company's
history. Semperit continues to boast a sound capital basis as
reflected by its equity ratio of 54.0% at the reporting date of
December 31, 2014 (December 31, 2013: 48.3%). Cash and cash
equivalents amounted to EUR 115.6 million compared to EUR 182.6
million at the end of 2013. "We still have a high level of liquidity
despite our dynamic growth. Over the past four years we have been
able to increase revenue reserves by EUR 109.9 million to a total of
EUR 405.5 million. Our shareholders should profit from this
development in the form of a special dividend, given the fact that we
do not plan any major acquisitions for the time being and are going
to optimise our capital structure", states Semperit CFO Johannes
Schmidt-Schultes. As already announced, the Management Board will
propose a basic dividend of EUR 1.10 per share to the Annual General
Meeting for 2014 along with a one-time special dividend of EUR 4.90
per share compared to a basic dividend of EUR 0.90 per share and an
anniversary bonus of EUR 0.30 per share for the 2013 financial year.

Medical Sector: Organic growth in a challenging year The Medical
Sector (Sempermed segment) generated substantially higher sales
volumes in 2014. Therefore, the ongoing negative price effects caused
by the lower raw material prices could be offset. Demand for
examination gloves was strong, especially in Europe. Sempermed also
reported further growth in the industrial and consumer goods sectors.
In contrast, the higher energy prices and upfront investment costs
related to the capacity expansion drive initiated in Malaysia had an
adverse effect on the Medical Sector's performance. Capacity
utilisation remained high at all Sempermed production plants.

Revenue of the Medical Sector rose 4.1% in 2014 to EUR 452.9 million.
EBITDA climbed 14.1% to EUR 67.0 million. The main reason was the
positive one-off effect within the context of the change in
consolidation for SSC. The EBITDA margin improved to 14.8% from 13.5%
in the previous year.

Industrial Sector: Solid development despite strong headwinds The
Industrial Sector (the Semperflex, Sempertrans and Semperform
segments) showed a solid development despite an economic slowdown in
the second half of 2014.

The Semperflex segment generated a rise in revenue and earnings
thanks to significant production and sales successes. The hydraulic
hose business of Semperflex showed delivery share gains in Europe and
the USA. The declining raw material prices more than offset the
volume increases generated in the Sempertrans segment. However, very
high capacity utilisation and production efficiency, particularly in
Europe, strengthened profitability in this difficult business
environment. The cyclically-related moderate volume growth in the
Semperform segment was in contrast to the raw material-driven and
currency-related decreases in selling prices. In particular, the
business development of the Semperform segment was negatively
impacted by the Russia crisis and the accompanying weak demand in
Eastern Europe.

Driven by the strong development of the Semperflex segment, revenue
of the Industrial Sector rose 1.3% in 2014 to EUR 477.5 million.
EBITDA at EUR 88.1 million was close to the outstanding prior-year
figure of EUR 90.1 million. The EBITDA margin remained at a high
level of 18.5% compared to 19.1% in 2013.

Outlook 2015 and multi-year targets The Semperit Group started 2015
with well-filled order books. Initial stabilisation tendencies in
Western Europe and strong demand in North America have a positive
impact. However, Semperit is not immune to the effects of the
economic slowdown in Central and Eastern Europe. Demand in Asia is
expected to be flat for the most part in 2015.

The Semperit Group anticipates a satisfactory business development
for the entire year 2015 against the backdrop of an ongoing
challenging business development. The incipient recovery of the
global economy should be perceptible starting in the second half of
the year. Revenue and earnings should remain at an attractively high
level but will not match the performance of the past two years as a
result of the current economic and raw material price situation as
well as the effect of the change in consolidation in 2014.

Due to the conversion of the previously full consolidation of the 50%
joint venture investment at Siam Sempermed Corp. Ltd., Thailand to
the "at equity" method as at December 31, 2014, the revenue
recognised will likely be 10% lower compared to full consolidation
and EBIT 20% lower than reported in the past. No significant effects
are expected with respect to the earnings after tax and minorities of
the Semperit Group as well as on the earnings per Semperit share. The
changed reporting of consolidation will first be published in the
interim report for the first quarter of 2015.

Semperit is continuing the expansion of its production capacities in
both the Medical Sector and Industrial Sector. CAPEX of approximately
EUR 75 million is planned for 2015 (2014: EUR 74 million), of which
about EUR 50 million relates to growth investments. The additional
capacities will gradually become available in the course of the years
2015 and 2016 with correspondingly positive effects on the Group's
revenue development.

In the future Semperit is striving to achieve double-digit growth of
sales volumes on average as well as attractive earnings margins. For
the time being, it confirms its targeted EBITDA margin of between 12%
and 15% and an EBIT margin of between 8% and 11%.

The results for FY 2014 are available for download at
http://www.semperitgroup.com/investor-relations/Results_FY_2014.pdf

The Annual Report 2014 will be available for download at
www.semperitgroup.com/ir as of April 2, 2015.

About Semperit The publicly listed company Semperit AG Holding is an
internationally-oriented group that develops, produces, and sells in
more than 100 countries highly specialised rubber and plastic
products for the medical and industrial sectors: examination and
surgical gloves, hydraulic and industrial hoses, conveyor belts,
escalator handrails, construction profiles, cable car rings, and
products for railway superstructures. The headquarters of this
long-standing Austrian company, which was founded in 1824, are
located in Vienna, and the global R & D centre is in Wimpassing,
Lower Austria. The Semperit Group employs about 6,900 people
worldwide, including close to 4,100 in Asia and more than 800 in
Austria (Vienna and production site in Wimpassing, Lower Austria).
The Group has 20 manufacturing facilities worldwide and numerous
sales offices in Europe, Asia, and America. In 2014 the group
generated sales of EUR 930 million and an EBITDA of EUR 136 million.

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

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

end of announcement euro adhoc
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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, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English