Earnings Release • Jan 24, 2018
Earnings Release
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Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Company Information 24.01.2018
Vienna, Austria -
Based on the results of the ongoing analysis and transformation process which have been obtained so far as well as discussion of the outcome with the Supervisory Board, the Management Board of Semperit AG Holding emphatically introduces a phase of sustainable restructuring. The necessity of this decision is underlined by the fact that from today's point of view a single-digit negative EBIT will be reported for the last quarter of 2017. In addition to the current optimisation measures in the Sempermed segment, Semperit now starts further implementation steps for Sempertrans and Semperform. In the Semperflex segment and in Mixing, the focus will be on accelerating the profitable implementation of the still necessary investment projects and of the related organic growth course.
Due to the expected negative earnings after tax in 2017 and the ongoing restructuring and transformation phase, the Management Board will from today's perspective not be able to propose a dividend (0.70 EUR per share in previous year).
The focus in the restructuring phase will be particularly on the following measures:
Throughout 2018, the Management Board will decide step by step whether there will be modifications in the portfolio of existing segments as well as further adaptations in the production footprint after the shut-down of the loss-making Sempertrans plant in France in 2017. The termination of the transformation of the Semperit Group is scheduled for the end of 2020. From this point of time, the Semperit Group aims to achieve an EBITDA margin of approximately 10% as a key controlling figure.
The Management Board also expects continuous one-off effects and restructuring costs in the upcoming quarters that might cause additional volatility in results. For the financial year 2018, increased consulting costs for the support of the implementation are expected assumed. Therefore, the year 2018 will be considered as a year of transition.
Because of the hybrid capital line agreed in December 2017, financing of the necessary investments as well as of the restructuring and transformation phase will be secured, emphasising the long-term commitment of the core shareholder.
Further inquiry note: Monika Riedel Director Group Communications & Sustainability +43 676 8715 8620 [email protected]
Stefan Marin Head of Investor Relations Tel.: +43 676 8715 8210 [email protected]
www.semperitgroup.com
end of announcement euro adhoc --------------------------------------------------------------------------------
| issuer: | Semperit AG Holding |
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| Modecenterstrasse 22 | |
| A-1030 Wien | |
| phone: | +43 1 79 777-210 |
| FAX: | +43 1 79 777-602 |
| mail: | [email protected] |
| WWW: | www.semperitgroup.com |
| ISIN: | AT0000785555 |
| indexes: | WBI, ATX PRIME, ATX GP |
| stockmarkets: Wien | |
| language: | English |
| Aussendung übermittelt durch euro adhoc |
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| The European Investor Relations Service |
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