Semperit Reports Stable Revenue and Increased EBITDA in Q1 2024

Semperit AG Holding announced stable revenue and a significant increase in EBITDA for the first quarter of 2024. The company recorded revenue of EUR 176.0 million, slightly down by 0.2% compared to the same period in 2023. Meanwhile, EBITDA grew by 9.4% to EUR 23.0 million. The company attributes this growth to successful cost-cutting measures initiated in 2023, which saved EUR 9.9 million in total expenses, with EUR 4.1 million impacting Q1 2024 directly.

In addition, earnings after tax improved markedly, rising to EUR 3.6 million from just EUR 0.4 million a year ago. Semperit CEO Karl Haider confirmed the company remains on track to reach an EBITDA target of approximately EUR 80 million for the full fiscal year. The firm's financial stability is underscored by a robust equity ratio of 45.1% and conservative net financial debt to EBITDA ratio of 1.6.

Regarding operational segments, the Semperit Industrial Applications division faced challenges with a 25% decrease in revenue, while the Semperit Engineered Applications division saw a 31.7% increase driven by higher sales volumes. The company also noted a significant ongoing transaction, expecting to complete the sale of its remaining medical business within the upcoming year.