EANS-News
Semperit AG Holding / Revenue increase in the first nine months of 2017, operating earnings situation remains weak
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Quarterly Report
Vienna, Austria -
* Revenue in Q1-3 2017 increased by 3.5% year-on-year to EUR 670.0 million
* Earnings in Q1-3 2017 slightly below previous year: positive one-off effects
from joint venture transaction were up against various negative one-off
effects
* Measures taken in Q3 - highlights:
- Expansion step at Semperflex in Czech Republic
- Social plan signed for Sempertrans production site in France
- Start of analysis and strategy process
* Outlook remains suspended
The publicly listed Semperit Group continued to achieve a revenue increase in
the first nine months of 2017, earnings are slightly below the previous year's
number. In the third quarter 2017 the revenue figure stays nearly at its current
level, EBIT was negative in Q3 because of one-off effects. However, the new
Management Board has introduced further measures to achieve a sustainably
efficient cost structure and therefore profitable growth due to the weak
earnings situation. In the Sempermed segment, the severe cost-cutting programme
led to productivity increases despite temporary interruptions of the production
process. At the same time, further restructuring expenses amounting to EUR 4.8
million were recorded in the Sempermed segment in France (in addition to EUR 6.8
million in Q2 2017) in Q3 2017 as well as expenses of EUR 5.1 million relating
to the tax audit in Austria.
"The reported loss in the third quarter largely results from one-off effects,
however these results are by no means satisfying." says the Chairman of the
Management Board, Martin Füllenbach, and names the tasks that will be the focus
in the coming quarters: "A competitive cost structure, an increased level of
cost awareness in the entire company and at the same time the realignment of the
future portfolio. This may certainly be considered a challenging contrast."
Füllenbach lists the shutdown of the Sempertrans factory in France and the
introduction of the World Class Manufacturing Model as already well-advanced
measures. "We will consistently pursue this path," says the CEO.
In the first nine months of 2017, Semperit achieved a revenue increase of 3.5%
to EUR 670.0 million in a year-on-year comparison, which is primarily based on
an increase in sales volumes in all segments except Sempertrans. Reported EBITDA
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte