For the first time in two years, the listed rubber and rubber group Semperit, which is now undergoing rebuilding, generated profits again between January and June. The fund was a result of 5.8 million euros, after losing 67.4 million euros in the previous year, as the current half-year figures show.
"Our successful turnaround continues and has gained momentum, especially in the second quarter," says Martin Füllenbach, Semperit's general manager. In addition to the "very positive development of the industrial sector", the restructuring efforts in the medical sector have also borne fruit. Before interest, taxes and depreciation, earnings (EBITDA) were generated in all four segments in the second quarter. Sempermed remains focused, "to ensure the continuity of the efforts," emphasized Füllenbach. The batch-wide transformation process will be "constantly ongoing".
For the half-year, earnings per share amounted to 0.28 euros this year – a year ago there was still 0.21 euros per share. Interest before taxes (EBIT) increased by € 13.2 million in the same period of the previous year (to € 20.9 million). The response margin improved from (adjusted) 2.9 to 4.8 percent. Interest income, taxes, depreciation and amortization (EBITDA) increased from EUR 32.7 million to EUR 39.1 million – the figure for the previous year was adjusted to the negative one-off impact of EUR 3.9 million since the close of the year. Sempertrans website in China.
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Sales fell slightly by 2.5 percent to EUR 437.3 million. This is mainly due to a change of strategy in the Sempermed area, according to today's company announcement. In the industrial sector there was only a slight decrease of 0.7 percent to 289.5 million euros, in the medical sector this was much stronger at 5.9 percent.
Cash-flow investments were halved from € 42.1 million in the same period last year to € 21.4 million. Most care investments have been made. The equity ratio dropped from 42.9 percent at the end of 2018 to 41.4 percent. Cash and cash equivalents at the end of June totaled 155 million euros. Net debt reduced from December 33.9 to 78.8 million euros. The embarked transformation process will continue "with all consequences".
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Capital expenditures of around € 40 million are planned for the whole year. This aims to approximate the goal of positive free cash flow. The costs would be gradually optimized and the net debt would be reduced. Semperit will be renewed by the end of 2020. Since then, the Semperit Group should reach an EBITDA margin of about 10 percent, according to the plan. (Apa / Red)
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