EANS-Adhoc: Semperit AG Holding / Good Revenue and Earnings Development in H1 2014 (with photo)

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Mid Year Results/quarterly report
19.08.2014

- Revenue up 2.9% in H1 2014 to EUR 464.3 million
- Increase in EBITDA (+4.6%) and EBIT (+5.7%)
- Organic growth and high profitability
- Continuation of current order situation expected

Vienna, August 19, 2014 - The publicly listed Semperit Group continued its
organic growth in the first half of 2014, showing a good revenue and earnings
development. Revenue in the first six months of 2014 rose 2.9% year-on-year to
EUR 464.3 million from EUR 451.4 million in the prior-year period. Both the
Medical and Industrial Sectors contributed to growth based on strong sales
performances and higher global sales. This more than offset the decrease in
selling price levels caused by the substantial drop in raw material prices.
Double-digit growth was achieved in the Medical Sector, whereas the more
cyclically-dependent Industrial Sector further increased its revenue and
profitability.

In the first half of 2014, the Group's consolidated EBITDA improved
by 4.6% to EUR 68.8 million from EUR 65.8 million in the previous
year. EBIT was up 5.7% to EUR 46.2 million, compared to the
prior-year level of EUR 43.7 million. In addition to the positive
operating development, the resolute implementation of strategic raw
material management, stringent cost discipline as well as further
efficiency improvements related to good capacity utilisation
contributed to the rise in earnings. The EBITDA margin was up from
14.6% to 14.8%, and the EBIT margin climbed to 10.0% from 9.7% in the
previous year. Semperit achieved a net result (earnings after tax) of
EUR 27.8 million, which declined slightly from the comparable figure
of EUR 28.2 million in the first half of 2013 due to the somewhat
higher financial expenses.

"The expansion of our sales activities and the further globalisation
of our business paid off again in the first half of 2014. This
enabled us to achieve double-digit sales increases and to grow once
more faster than the market. We not only gained market shares and
attracted new customers but also managed to further increase
profitability. This can be attributed to our high capacity
utilisation as well as the successful, active management of our raw
material needs", says Semperit CEO Thomas Fahnemann in commenting on
the current business development.

Semperit also held up well in the second quarter of 2014. Although
production and sales volumes could be significantly increased, the
lower raw material prices compared to the prior-year period resulted
in a slight revenue decline to EUR 231.6 million, down from EUR 236.2
million in the second quarter of 2013. EBITDA fell by 2.9% to EUR
35.4 million, and EBIT decreased to EUR 23.9 million, a drop of 4.2%.
In spite of these earnings declines, profitability remained at a very
good level as reflected by the EBITDA margin of 15.3% and an EBIT
margin of 10.3%.

Semperit boasted a solid capital base at the reporting date of June
30, 2014. The equity ratio remained at a consistently high level of
48.9% compared to 48.3% as per December 31, 2013. Cash and cash
equivalents amounted to EUR 157.3 million, down from EUR 182.6
million at the end of 2013, which can be mainly attributed to the
dividend payment. "Despite distributing a dividend which was higher
than in the previous year and implementing an extensive investment
programme, we still have a positive net liquidity of EUR 17.5 million
after deducting all financing liabilities. The financing of future
growth activities is therefore well secured", explains Semperit CFO
Johannes Schmidt-Schultes.

Medical Sector: Higher revenue and earnings In the Medical Sector
(the Sempermed segment), the intensified sales activities resulted in
a considerable rise in sales volumes. Therefore, the ongoing negative
price effects caused by the lower raw material prices could be
offset. Demand for examination gloves was strong, especially in
Europe. Sales in the industrial and consumer goods sectors continued
to develop positively. In contrast, higher energy prices in Malaysia
as well as several days of production standstills at the Kamunting,
Malaysia facility related to external infrastructure work on the
water supply for the new Semperit plant at this site had an adverse
effect on the Medical Sector's performance. Capacity utilisation
remained high at all Sempermed production plants.

Revenue of the Medical Sector rose 1.1% in the first half-year 2014
to EUR 220.6 million. EBITDA was up 3.6% to EUR 29.2 million,
comprising an improved EBITDA margin of 13.3% compared to 12.9% in
the prior-year period. The EBIT margin rose marginally from 7.8% to
7.9%.

Industrial Sector: Excellent development in the first half of 2014
The Industrial Sector (the Semperflex, Sempertrans and Semperform
segments) showed a clearly positive development marked by a further
rise in revenue and earnings. All three segments once again increased
sales volumes, which is mainly due to their strong sales activities.
This served as the basis for acquiring new customers and gaining
market shares.

In the Semperflex segment, sales successes and a very good capacity utilisation
of production plants led to substantial revenue and earnings growth. The
hydraulic hose business in Europe and the USA developed well. In spite of the
challenging situation in Russia and the Ukraine, the performance of the
industrial hose business remained very good, and the initiated globalisation
drive showed further success, especially in Asia. The Sempertrans segment
achieved volume growth. Sempertrans profited from its good market position and
international sales and distribution network, especially in Western Europe.
However, negative raw material price effects led to a decline in revenue and
earnings. The Semperform segment generated double-digit volume growth by gaining
market shares.

Revenue of the Industrial Sector climbed 4.5% in the first half of 2014 to EUR
243.7 million. EBITDA increased even more, rising by 10.1% to EUR 49.7 million,
corresponding to an excellent EBITDA margin of 20.4%, compared to 19.4% in the
prior-year period. The EBIT margin was up to 16.0% from 14.7% in the previous
year, with all three segments generating double-digit EBIT margins.

Outlook 2014 and multi-year targets

For the remainder of 2014 Semperit Group expects the present trend
for incoming orders to continue and a satisfying performance in both
revenue and earnings compared with 2013. Globally, however, more
cautious developments of markets and demands are noted.

The Medical Sector has a growth dynamic that is largely independent
from the general trend in the economy. Capacity in the Industrial
Sector is well utilised for the next several months. However,
geopolitical crises and the economic sanctions against Russia are
leading to uncertainty in some sales markets. This also means, among
other things, that Semperit's competitors are switching to other
markets, increasing competition in these markets as a result. A
further economic slowdown in Russia and Eastern Europe would probably
impact local demand for products of some business units negatively.

The Sempermed segment continues to focus on improving efficiency as
well as targeting new customer segments. The Semperit Group
anticipates that global demand for examination and protective gloves
will continue to grow. In order to take advantage of this market
growth, Sempermed is expanding production capacity at its plant in
Kamunting, Malaysia. A total of around EUR 50 million will be
invested in the construction of a new glove factory during the period
2014 to 2016.

With regard to potential volume increases in the Industrial Sector it
should be noted that capacities in all three segments are well
utilised. As a result, the group has decided to expand its
manufacturing capacities for hydraulic and industrial hoses in Odry,
Czech Republic, for conveyor belts at the plant in Belchatów, Poland,
and for handrails in Shanghai, China. However, these additional
capacities will be available step by step in the course of 2015.

For the year 2014 the group expects to invest around EUR 50-60
million (CAPEX), compared to EUR 49.7 million in 2013. Of this
amount, around EUR 25 million is intended for the maintenance of
existing facilities.

Semperit reaffirms its previous growth targets, namely to achieve
double-digit revenue growth on average in the years from 2010 to 2015
inclusive. It still aims to achieve an EBITDA margin of between 12%
and 15% and an EBIT margin of between 8% and 11%.

Pictures with Announcement:
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Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com
www.semperitgroup.com

Stefan Marin
Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com

end of announcement euro adhoc
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Pictures with Announcement:
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English