Semperit increases profitability in the first half of 2024

EQS-News: Semperit AG Holding / Key word(s): Half Year Results/Miscellaneous Semperit increases profitability in the first half of 2024 13.08.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Semperit increases profitability in the first half of 2024

 

• EBITDA up 8% to EUR 47.3 million, earnings after tax more than doubled
• Free cash flow significantly improved to EUR 23.6 million
• Cost-cutting program takes effect: cost reductions of EUR 14.4 million, of which
  EUR 8.6 million in H1
• EBITDA guidance confirmed at around EUR 80 million for 2024
• Medium-term targets set until 2026: EBITDA to increase to around EUR 120 million

Vienna, August 13, 2024 – In the first half of 2024, the Semperit Group increased EBITDA by 7.9% to EUR 47.3 million in a still challenging market environment and more than doubled earnings after tax to EUR 9.6 million (previous year: EUR 3.9 million). At EUR 345.5 million, revenue was just below the previous year’s level (–2.9%). The cost-cutting programs initiated early in 2023 reduced expenses by a total of EUR 14.4 million, of which EUR 8.6 million was attributable to the first half of 2024. The EBITDA margin in the first half of the year thus improved to 13.7% (previous year: 12.3%). The EBITDA guidance for 2024 as a whole is confirmed at around EUR 80 million.

“Economic headwinds continue as expected, but Semperit remains well on track and significantly increased profitability in the first half of 2024. Our cost-cutting program is taking effect, and our strategy of focusing on industrial customers, investing in our growth and further increasing sales excellence and customer proximity is showing positive results,” says Semperit CEO Karl Haider. “From today’s perspective, the challenging market environment will continue into 2025 in any case. However, Semperit stands on a strong and healthy foundation. We continue to work on increasing our efficiency and effectiveness for the next upswing and are thus creating the conditions to outperform the market."