EANS-Adhoc: Semperit AG Holding / Semperit changes consolidation method for Siam Sempermed Corp. Ltd.

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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.
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Joint Ventures/Cooperation/Collaboration/Company Information
16.02.2015

Semperit AG Holding converts the previously full consolidation of the
50% joint venture investment at Siam Sempermed Corp. Ltd. (SSC),
Thailand, to the "at equity" method as of 31 December 2014. The
change of the accounting method has no significant effects on the
earnings after tax and minorities of the Semperit Group as well as on
the earnings per Semperit share and on the operating activities of
Semperit and SSC.

As reported, Semperit demands increased transparency, compliance and
corporate governance in line with international standards by SSC
within the scope of the joint venture. The decisive reason for the
present change of the accounting method is the progressively unlawful
conduct of the Thai joint venture partner Sri Trang Agro-Industry
Public Co Ltd. (Sri Trang). Within the scope of a mediation process
initiated by a Thai law court on 13 February 2015, there was no
evidence that Sri Trang would end their unlawful conduct in the near
future which currently effectively prevents Semperit from controlling
SSC.

The Management Board feels confident that the claims presented in
this context by Semperit to an arbitration court in Zurich will be
defended successfully. If these procedures are concluded positively,
Semperit will be able to effectively exercise their contractually
granted controlling options again.

In the consolidated balance sheet as of 31 December 2014, the change
of the accounting method will have implications, primarily a decrease
of the following balance sheet items: tangible assets, cash and cash
equivalents and liabilities from redeemable non-controlling interests
as well as working capital. In the consolidated income statement, the
revenue recognised is expected to be around 10% lower compared to
full consolidation and EBIT expected to be around 20% lower starting
from the financial year 2015.

Moreover, the Management Board is currently reviewing the
consolidation method of further joint venture companies. The
Management Board will display all further details at the presentation
of the consolidated financial statements on 26 March 2015.

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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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