The restructuring of the group will have the highest priority for the management of the rubber and rubber manufacturer Semperit, which is in difficulty, until the end of 2020. In the course of the reorganization, further substantial non-recurring charges will not be excluded in the coming quarters. A loss of € 67.4 million was realized in the first half of 2018, after profit of € 21.2 million as of June 2017.
Restructuring has accelerated recently: factories in France and China have already been closed in the first six months of the current year. In Germany the location in Dalheim is currently being integrated into the factory in Hückelhoven and a sale of Roiters in Italy is being investigated. The restructuring costs are high, an impairment of 55.2 million euros had to be made in the medical sector and the closure in China had a negative effect on the EBIT of 7.9 million euros. Whether it concerns further changes in the portfolio or production in the existing segments – Semperflex, Semperform, Sempertrans and Sempermed – will decide step by step, according to the board. The outlook for the next quarters remains exposed to developments.
As part of the ongoing restructuring process, the Group will initially focus on organic growth in the industrial sector, including the Semperflex, Semperform and Sempertrans segments. Capacities need to be further expanded, and Semperit plans to invest approximately EUR 80 (2017: 74.5) million in 2018. After the completion of the transformation process by the end of 2020, the Semperit Group must achieve an EBITDA margin of around 10 percent.
The consolidated turnover of Semperit in the first half year was 2.8 percent below the level of the previous year. Adjusted for the closing costs in China, EBITDA increased by 45.3% to EUR 32.7 million. The operating result (EBIT) fell from 54.3 to 49.8 million euros, but corrected for the one-off effects it doubled from 6.2 to 13.2 million euros.
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