Semperit gains momentum in Q2 2025
Vienna, Austria – The Semperit Group’s business performance in the first half of 2025 was marked by a persistently difficult market environment, with the second quarter seeing a significant improvement in earnings compared to the first quarter. The recovery in the order situation also continued. Revenue for the first half of the year amounted to EUR 320.5 million (–7.2%) and EBITDA to EUR 30.7 million (–35.2%). Operating EBITDA before project costs was EUR 32.9 million (–31.3%).
“After a challenging start to the year, we gained momentum in the second quarter. An upturn in orders from March onwards underpins this trend. Both order intake in the first half of the year and the order backlog at the end of June are above the previous year’s levels,” says Semperit CEO Manfred Stanek. “We expect the recovery to continue in the second half of the year and will use this to further strengthen our market position in all business areas. Our focus will be on product innovations as well as further cost optimizations and efficiency improvements,” Stanek continued.
Free cash flow – net cash flow adjusted for interest payments and available for strategic investments, dividends and debt repayment – amounted to EUR 13.9 million (previous year: EUR 23.6 million).
The Semperit Group has a robust balance sheet and financing base with an equity ratio of 45.5% (December 31, 2024: 47.2%) and a conservative debt ratio of 1.7x (December 31, 2024: 1.2x) based on net financial debt in relation to EBITDA. Liquidity reserves amounted to EUR 112.9 million, and undrawn credit lines of EUR 100 million are also available.
Outlook
The outlook for the 2025 financial year has been confirmed, with operating EBITDA expected to range between EUR 65 million and EUR 85 million. The costs for the digitalization project that will impact earnings will amount to around EUR 5 million.
Earnings development in detail:
The Semperit Group, which focuses exclusively on industrial customers with its two divisions, Semperit Industrial Applications (SIA) and Semperit Engineered Applications (SEA), generated revenue of EUR 320.5 million (–7.2%). The SIA division, which comprises Hoses and Profiles, generated revenue of EUR 133.6 million (–4.7%) and EBITDA of EUR 24.2 million (–19.2%). This resulted in a margin of 18.1% (–3.3 PP). The SEA division (Form, Belting and Liquid Silicone Rubber/LSR) generated revenue of EUR 186.9 million (–9.0%), EBITDA of EUR 14.7 million (–46.9%) and an EBITDA margin of 7.9% (–5.6 PP).* After customers postponed projects mainly in the conveyor belt and LSR molding businesses due to the volatile market situation in the first quarter, the second quarter brought a significant improvement in order activity. As a result, the Semperit Group’s revenue rose by 11.3% quarter-on-quarter to EUR 168.8 million in the second quarter of 2025, while EBITDA increased by 76.2% to EUR 19.6 million. EBIT turned positive, rising from EUR –1.3 million in Q1 2025 to EUR 4.0 million.
Inventories of own products increased in the Group by EUR 8.7 million in the first six months, mainly due to seasonal factors (previous year: EUR 1.1 million). Total expenses remained stable at EUR 304.7 million (previous year: EUR 303.7 million).
EBITDA thus reached EUR 30.7 million (previous year: EUR 47.3 million), and the EBITDA margin was 9.6% (previous year: 13.7%). Operating EBITDA amounted to EUR 32.9 million (previous year: EUR 47.9 million) and the margin to 10.3% (previous year: 13.9%). EBITDA was adjusted for effects on income from the Group’s flagship digital transformation project (“oneERP”) amounting to EUR 2.2 million.
Regular depreciation and amortization increased slightly to EUR 24.7 million (previous year: EUR 22.9 million). Impairment losses on intangible assets amounted to EUR 3.3 million and are related to the customer base in the Liquid Silicone Rubber (LSR) business. EBIT thus amounted to EUR 2.6 million (previous year: EUR 23.7 million). The financial result amounted to EUR –11.3 million (previous year: EUR –7.9 million), with the deviation primarily attributable to negative currency effects resulting from the weaker US dollar.
Tax expenses fell to EUR 2.5 million (previous year: EUR 6.3 million), bringing earnings after tax to EUR –11.2 million (previous year: EUR 9.6 million). This corresponds to earnings per share of EUR –0.54 (previous year: EUR 0.47).