Semperit: Impairment at Sempermed segment

Following a thorough review, the Management Board of Semperit AG Holding identified in the process of its mid-term planning and the preparation of the half-year financial statements as of June 30, 2018 the need for recognising an impairment loss (pre tax) of about EUR 55 million at Sempermed segment (first half 2017: impairment loss of EUR 26.0million).

The business development of Sempermed is currently in decline. The reasons for this are mainly seen in the growing competitive and price pressure, the limited availability and price increases of some input factors and inefficiencies in production.

„Mid-term planning has recently been conducted in the light of the ongoing restructuring and transformation process as well as the observable uncertainties in the business development of Sempermed. Given this, we identified the need for recognising an impairment loss”, says Dr Martin Füllenbach, CEO of the Management Board of Semperit AG Holding. „This is under no circumstances related to the future decision about the corporate portfolio of the Semperit Group.”

From today’s perspective, Semperit Group’s earnings after tax will be negative in 2018 (2017: EUR -26.3million). The exact amount of the impairment loss will be included in the half- year figures and will be disclosed with the publication of the half-year 2018 financial report on August 23, 2018.