EQS-News: Semperit achieves significant earnings increase in 2024 financial year

EQS-News: Semperit AG Holding / Key word(s): Annual Results
   Semperit achieves significant earnings increase in 2024 financial year

   20.03.2025 / 07:30 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Semperit achieves significant earnings increase in 2024 financial year

    

     • All strategic milestones achieved despite economic headwinds
     • Stable revenue development in a challenging market environment
     • EBITDA increased by 21% to EUR 84.9 million, margin improved to 12.5%
     • Earnings after taxes at EUR 11.5 million (previous year: EUR –17.1
       million) 
     • Free cash flow rose by 74% to EUR 45.8 million
     • Stable dividend of EUR 0.5 per share to be proposed to Annual General
       Meeting

    

   Vienna, March 20, 2025 – In the 2024 financial year, the Semperit Group
   increased its EBITDA by 21.1% to EUR 84.9 million and turned its earnings
   after tax into a profit of EUR 11.5 million, compared with EUR –17.1
   million loss in the same period of the previous year. With stable revenues
   of EUR 676.6 million (–0.8%), the EBITDA margin increased by 2.3
   percentage points to 12.5%, mainly due to the cost-cutting program
   initiated as early as 2023.

   “As expected, it was a challenging year, but one in which we achieved a
   very decent result. We fully withdrew from the glove business in 2024 and
   are now focusing 100% on executing our strategy as a specialist in
   elastomer products for industrial customers. The integration of Rico
   proceeded well, our set-up with two strong divisions introduced in 2023
   proved successful, and we increased our profitability. We thus achieved
   all milestones and kept what we promised despite headwinds from the
   market,” says Semperit CEO Karl Haider. “The market environment will
   remain difficult in the first half of the year. Thanks to our early cost
   savings, which will have added up to more than EUR 18 million since 2023,
   we are very well positioned and, due to our investments in production
   expansions, we are excellently prepared for the next upturn,” Haider
   continued.

   Robust free cash flow and financial base

   Free cash flow is the net cash flow adjusted for interest payments that is
   available for strategic growth investments, dividends and the repayment of
   debt. It improved by 74.4% to EUR 45.8 million, compared with EUR 26.3
   million in the previous year. Including the net payment from the second
   and final closing of the sale of the medical business in the amount of EUR
   6.6 million, free cash flow after the sale of companies amounted to EUR
   52.4 million (previous year: EUR 111.5 million after the first closing of
   the sale of the medical business).

   The Semperit Group has a robust balance sheet and financing base with an
   increased equity ratio of 47.2% (previous year: 45.3%) and a conservative
   debt ratio of 1.2x (previous year: 1.6x) based on net debt in relation to
   EBITDA. Liquidity reserves amounted to EUR 126.0 million, and undrawn
   credit lines of EUR 100.0 million are also available.

   Operating EBITDA amounted to EUR 86.3 million. EBITDA for 2024 was
   adjusted for the effects of the lead project for the Group’s digital
   transformation (“oneERP”) of EUR 1.5 million recognized in profit or loss.
   The project is currently expected to be completed by 2028. The operating
   EBITDA margin in 2024 amounted to 12.8%. Adjusted EBITDA in the previous
   year amounted to EUR 80.0 million, with a corresponding margin of 11.7%.

   Outlook

   The market environment is expected to remain challenging in the coming
   months. Countermeasures initiated at an early stage are taking effect and
   will continue to be implemented. They include improvements to the product
   mix towards higher-margin products, cost reductions and the streamlining
   of processes to increase operational efficiency, in order to be able to
   react flexibly to further market fluctuations. When the market situation
   improves and capacity utilization increases, this will continue to
   significantly improve operational efficiency. Taking into account further
   cost-saving measures and depending on the timing and intensity of the
   market recovery, the Executive Board expects operating EBITDA in the range
   of EUR 70 million to EUR 90 million for the full year 2025. The effects of
   the OneERP project on earnings will amount to around EUR 5 million in
   2025. The medium-term target, according to which operating EBITDA is
   expected to increase to around EUR 120 million in the 2026 financial year,
   is confirmed. This is subject to the economy beginning to recover in the
   2025 financial year.

    

   Earnings development in 2024 in detail:

   The Semperit Group, which focuses exclusively on industrial customers with
   its two divisions Semperit Industrial Applications (SIA) and Semperit
   Engineered Applications (SEA), generated revenue of EUR 676.6 million
   (–0.8%) in the financial year 2024. The two divisions developed
   differently depending on the market environment and customer sectors.
   While the persistently challenging economic situation at SIA (Hoses and
   Profiles) led to an 11.3% decline in revenue to EUR 293.5 million,
   divisional EBITDA improved by 11.4% to EUR 52.2 million, primarily thanks
   to cost measures and efficiency improvements. The SEA division (Form,
   Belting, and Rico or Liquid Silicone) increased revenue by 9.1% to EUR
   383.0 million; of this total, EUR 94.6 million was attributable to Rico,
   which was only included for five months in the prior-year period (August
   to December 2023: EUR 37.2 million). EBITDA in the SEA division amounted
   to EUR 48.1 million (–4.8%), with Rico accounting for an operating EBITDA
   contribution of EUR 16.0 million. The EBITDA margin at SEA thus reached
   12.6% (after 14.4%), while it improved to 17.8% (after 14.2%) at SIA.

   Total expenses decreased by 3.6% to EUR 587.9 million. The cost of
   materials fell by EUR 28.1 million or 9.1% to EUR 279.7 million (previous
   year: EUR 307.8 million). This is primarily due to an easing of purchase
   prices for raw materials as well as lower sales and production volumes in
   individual businesses.

   Personnel expenses increased by 6.0% to EUR 218.8 million (previous year:
   EUR 206.5 million); adjusted for Rico, however, they were 6.0% lower than
   in the previous year. Inflation-related wage and salary increases were
   offset by capacity-related adjustments to headcount and cost reductions.
   Personnel expenses in the comparative year were also impacted by changes
   to the Executive Board.

   At EUR 89.3 million, other operating expenses were 6.7% below the previous
   year’s figure (previous year: EUR 95.8 million), which was primarily due
   to significant savings in consulting expenses and the reversal of
   provisions for complaints.

   EBITDA therefore improved significantly and, at EUR 84.9 million (previous
   year: EUR 70.1 million), exceeded the guidance of around EUR 80.0 million.
   The EBITDA margin climbed to 12.5% (previous year: 10.3%).

   Regular depreciation and amortization increased to EUR 47.5 million in the
   2024 financial year (previous year: EUR 36.5 million), primarily as a
   result of the expanded consolidation basis including Rico (EUR 15.8
   million). At EUR 35.0 million, EBIT was therefore 3.0% higher than the
   previous year’s figure of EUR 34.0 million.

   The financial result amounted to EUR –13.4 million (previous year: EUR
   –8.7 million), which was primarily due to higher financing expenses as a
   result of new bank financing for strategic growth projects. Earnings
   before taxes therefore amounted to EUR 21.5 million (previous year: EUR
   25.3 million).

   Tax expenses rose to EUR 10.1 million (previous year: EUR 0.9 million), of
   which EUR 8.3 million was attributable to current tax expenses (previous
   year: EUR 11.0 million) and EUR 1.9 million to deferred tax expenses
   (previous year: tax income of EUR –10.1 million).

   Earnings after taxes from continuing operations amounted to EUR 11.4
   million (previous year: EUR 24.4 million), and earnings after taxes from
   discontinued operations were EUR 0.1 million (previous year: EUR –41.4
   million). Overall, earnings after taxes therefore improved significantly
   to EUR 11.5 million (previous year: EUR –17.1 million). This corresponds
   to earnings per share of EUR 0.56 (previous year: EUR –0.82).

    

   Overview of the main financial figures of the financial year 2024:

   Key figures of the Semperit-Group, in EUR million  2024  Change 2023¹
                                                                    
   Revenue                                           676.6   –0.8% 681.8
   EBITDA                                             84.9  +21.1%  70.1
   EBITDA margin                                     12.5% +2.3 PP 10.3%
   Operating EBITDA²                                  86.3   +8.0%  80.0
   Operating EBITDA² margin                          12.8%  +1.0PP 11.7%
   EBIT                                               35.0   +3.0%  34.0
   EBIT margin                                        5.2% +0.2 PP  5.0%
   Earnings after tax                                 11.5     n/a –17.1
   Earnings per share (EPS), in EUR                   0.56     n/a –0.82
   Free cash flow before the sale of companies        45.8  +74.4%  26.3
                                                                    

   ¹ Comparative figures adjusted; ²Operating EBITDA: excluding items that
   affect comparability

   Balance sheet key figures, in EUR million    31.12.2024  Change 31.12.2023
                                                                    
   Total assets                                      912.9   –2.7%      937.9
   Equity                                            430.9   +1.3%      425.3
   Equity ratio                                      47.2% +1.9 PP      45.3%
   Net Financial Debt (+) / Net Financial
   Surplus (–)                                       103.3  –10.3%      115.2

    

   Segment key figures, in EUR million                2024  Change  2023
                                                                    
   Division Semperit Industrial Applications Revenue 293.5  –11.3% 330.8
                                              EBITDA  52.2  +11.4%  46.9
                                                EBIT  31.3   +5.2%  29.7
   Division Semperit Engineered Applications Revenue 383.0   +9.1% 351.0
                                              EBITDA  48.1   –4.8%  50.5
                                                EBIT  20.8  –37.5%  33.2

    

   For further details please see the Semperit Group’s annual report of 2024:
   [1]https://www.semperitgroup.com/investor-relations/

    

     

   Contact:

   Bettina Schragl                         Judit Helenyi
   Director  Communications  and   Capital Director Investor Relations
   Markets/ Spokeswoman                    +43 676 8715 8310
   +43 676 8715 8257                       [3][email protected]
   [2][email protected]

    

   [4]www.semperitgroup.com

   www.semperitgroup.com

   [5]www.linkedin.com/company/semperit-ag

   About Semperit
    

   The publicly listed Semperit AG Holding is an internationally oriented
   group of companies that develops, produces and sells high-quality
   elastomer products and applications for industrial customers in over 100
   countries worldwide through its two divisions, Semperit Industrial
   Applications and Semperit Engineered Applications. With its highly
   efficient production and cost leadership, the Semperit Industrial
   Applications division focuses on industrial applications in connection
   with large-scale production, including hydraulic and industrial hoses as
   well as profiles. The Semperit Engineered Applications division comprises
   the production of escalator handrails, conveyor belts, cable car rings,
   other engineered elastomer products, as well as the Rico Group (liquid
   silicone and mold making), and focuses on customized technical solutions.
   The traditional Austrian company was founded in 1824 and is headquartered
   in Vienna. The Semperit Group employs around 4,000 people worldwide and
   has 16 production sites and numerous sales offices in Europe, Asia,
   Australia and America. In the 2024 financial year, the Group generated
   revenue of EUR 676.6 million and EBITDA of EUR 84.9 million.

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   20.03.2025 CET/CEST This Corporate News was distributed by EQS Group.
   www.eqs.com

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   Language:    English
   Company:     Semperit AG Holding
                Am Belvedere 10
                1100 Wien
                Austria
   Phone:       +43 1 79 777-310
   Fax:         +43 1 79 777-602
   E-mail:      [email protected]
   Internet:    www.semperitgroup.com
   ISIN:        AT0000785555
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 2103308


    
   End of News EQS News Service


   2103308  20.03.2025 CET/CEST

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