EQS-News

Semperit with stable revenue and 9% EBITDA increase in Q1 2024

EQS-News: Semperit AG Holding / Key word(s): Quarter Results Semperit with stable revenue and 9% EBITDA increase in Q1 2024 15.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Semperit with stable revenue and 9% EBITDA increase in Q1 2024

• Continued operations with revenue of EUR 176.0 million (–0.2%) and EBITDA of EUR 23.0 million (+9.4%)
• Cost reductions initiated in the previous year already reduced expenses by
  EUR 9.9 million, of which EUR 4.1 million was attributable to Q1 2024
• EBITDA guidance of around EUR 80 million confirmed for the year as a whole

Vienna, May 15, 2024 – In the first three months of 2024, the Semperit Group generated stable revenue of EUR 176.0 million (1–3 2023: EUR 176.4 million) while EBITDA increased by 9.4% to EUR 23.0 million. The cost-cutting programs introduced in 2023 already reduced expenses by a total of EUR 9.9 million, of which EUR 4.1 million was attributable to the first quarter of 2024. Earnings after tax improved to EUR 3.6 million (1–3 2023: EUR 0.4 million). Earnings after tax from continued operations were positive at EUR 5.0 million.

“The market environment remained challenging, but the cost-cutting measures we introduced at an early stage are taking effect, and our industrial strategy with investments in our growth and a further increase in sales excellence is being fully implemented,” says Semperit CEO Karl Haider. “We thus confirm our guidance and see ourselves well on track to increase our EBITDA to around EUR 80 million in the full year 2024.”

Semperit has also come a big step closer to the second and final closing of the sale of the remaining medical business. It was agreed that Semperit would take over the contract manufacturing of surgical gloves for Harps for up to five years – i.e. until 2028 – after selling and handing over the majority of the glove business to Harps in 2023. However, a so-called co-use agreement was concluded with Harps already at the end of March 2024. This agreement stipulates that Harps can use certain properties at the Wimpassing production site after the complete purchase of the glove business. Semperit therefore expects this transaction to be completed within the next 12 months. In accounting terms, this means that Surgical Operations is presented as discontinued operations. This had a negative impact of EUR –1.4 million on the overall result.