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Q1 2013 SEMPERIT GROUP INVESTOR PRESENTATION
May 14, 2013
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Key Highlights Q1 2013: Strong start into 2013
Investor Presentation I Q1 2013 I May 2013 2
Revenue growth of +6.6% to EUR 215.2m in Q1 2013
Despite economic headwinds good volume and market share
development in the different segments
Double digit earnings growth: EBITDA +20.4% to EUR 29.3m,
EBIT +13.5% to EUR 18.8m
Satisfying order visibility for Q2 2013
Strongest starting quarter in company history Revenue by segments Q1 2013 (vs. Q1 2012)
Sempermed 50% (44%)
Semperform 13% (13%)
Semper- trans 17% (19%)
Semperflex 20% (24%)
Europe 60% (58%)
Asia, Africa, RoW 17% (15%)
North- & South-America 23% (27%)
Raw material prices stagnated on low 2012 end-levels but
significantly lower than in Q1 2012
Stable development of natural rubber prices – regionally different
development of synthetic rubber prices
Medical Sector
Medical gloves market continues to grow (non-cyclical trend)
Price pressure continues due to overcapacities and competition
Industrial Sector
Semperit won market shares in selected regions and achieved
excellent profitability
Relevant customer industries (energy, construction or engineering)
were still influenced by weak economic cycle
Lower prices for raw materials
Economic impact on Semperit Group
Revenue by regions Q1 2013 (vs. Q1 2012)
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Medical Sector:
Sempermed business better than Q1 2012
Investor Presentation I Q1 2013 I May 2013 3
Average market growth of 5-7% p.a.
Continued pricing pressure due to excess market capacity
and competition
Volume growth of more than 30% (incl. Latexx Partners)
Strong order inflow in Q1 2013 and beyond
All plants in Thailand were well utilised – including new site
in Surat Thani
Gradual capacity increase in Malaysia and implementation of
Semperit standards in quality and production, efficiency measures
are on the way
Overall capacity utilisation in Sempermed above 80%
Significant revenue and earnings growth
Market
Business
development
Integration
of Latexx
Partners
Integration of Latexx Partners is well proceeding
Semperit holds a stake of 88% (on fully diluted basis, as of
May 10, 2013)
New public offer for the rest of the outstanding shares and warrants
with unchanged conditions runs until May 15, 2013
Delisting scheduled to be completed by June 2013 – no immediate
squeeze-out possible
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Industrial Sector:
Strong start based on market share increases
Investor Presentation I Q1 2013 I May 2013 4
Volume decline due to weak market environment
Semperflex succeeded in winning new customers and increased
market shares
Positive development in Europe and gradual recovery in the USA
Still weak demand in Asia
Revenue and earnings down (compared to high levels in 2012)
Business continuously driven by long-term megatrends and projects
Full capacity utilisation in Q1 2013 in European plants
Well booked until September 2013
First bulk order for new energy-saving conveyor belts in Poland
Excellent earnings quality, double-digit EBIT-margin
Semperflex
Sempertrans
Difficult market environment, negative price effects
But strong order situation led to volume growth
Construction profiles with increased market shares
in Eastern Europe
Strong demand for handrails in China and USA
Revenue growth and slightly improved results
Semperform
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Financial Performance
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Q1 2013: Best first quarter in company history
Investor Presentation I Q1 2013 I May 2013 6
1) Including Corporate Center: Costs of EUR 3.3m in Q1 2013 (EUR 1.8m in Q1 2012) 2) Earnings per share attributable to shareholders of Semperit AG Holding
Q1 2013 Q1 2012 %
106.8 88.0 +21.4%
12.2 6.5 +87.6%
11.5% 7.4% +4.1 pp
7.1 3.7 +82.0%
6.7% 4.2% +2.5 pp
6,961 4,972 +40.0%
in EUR m
Revenue
EBITDA
EBITDA margin
EBIT
EBIT margin
Employees
(as of 31.3.)
Earnings after tax
Earnings per share2)
Medical Sector Industrial Sector
Q1 2013 Q1 2012 %
108.4 113.8 -4.8%
20.3 19.6 +3.4%
18.7% 17.2% +1.5 pp
14.9 14.7 +2.0%
13.8% 12.9% +0.9 pp
2,990 2,930 +2.0%
Q1 2013 Q1 2012 %
215.2 201.8 +6.6%
29.3 24.4 +20.4%
13.6% 12.1% +1.5 pp
18.8 16.5 +13.5%
8.7% 8.2% +0.5 pp
10,030 7,947 +26.2%
12.5 11.6 +7.5%
0.60 0.56 +6.6%
Group Total1)
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Medical Sector:
Revenue and earnings growth in highly competitive markets
Investor Presentation I Q1 2013 I May 2013 7
in EUR m Q1 2013 Q1 2012 change
Revenue 106.8 88.0 +21.4%
EBITDA 12.2 6.5 +87.6%
EBITDA margin 11.5% 7.4% +4.1 pp
Depreciation -5.1 -2.8 +82.0%
EBIT 7.1 3.7 +91.8%
EBIT margin 6.7% 4.2% +2.5 pp
Q1 2013 without any extraordinary effects
Increase in revenue by 21.4%
Improvement of earnings and margins – no negative effects
as in Q1 2012
Satisfying overall capacity utilisation of more than 80%
Latexx Partners EPS accretive – positive contribution in
Q1 2013
Latexx Partners integration well proceeding: produced volume
steadily increasing
Key Financials Sempermed
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Industrial Sector:
High profitability despite weak market environment
Investor Presentation I Q1 2013 I May 2013 8
Semperflex
Sempertrans
Semperform
Revenue down by 11.2% due to weak
market environment
Flexible capacity and cost management
leads to continued high profitability (only
slightly below high levels of last year)
Demand situation and order
development at low levels but stable
Lower revenue reflects decline in raw
material prices while volume was stable
Strong demand in Europe, especially
from energy producers
Strong profit growth and further margin
improvement
Volume increase in all business units –
good sales performance of window and
door profiles in Eastern Europe
Negative price effects
Revenue and profit growth despite
economic headwind
in EUR m Q1 2013 Q1 2012 Change
Revenue 42.4 47.7 -11.2%
EBIT 7.0 8.2 -15.1%
EBIT margin 16.4% 17.2% -0.8 pp
Ongoing high profitability in the Industrial Sector
in EUR m Q1 2013 Q1 2012 change
Revenue 37.2 38.9 -4.5%
EBIT 4.5 3.2 +39.0%
EBIT margin 12.1% 8.3% +3.8 pp
in EUR m Q1 2013 Q1 2012 change
Revenue 28.9 27.2 +6.2%
EBIT 3.5 3.2 +8.1%
EBIT margin 12.0% 11.8% +0.2 pp
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Strong balance sheet and good net liquidity
Investor Presentation I Q1 2013 I May 2013 9
1) excl. non-controlling interests 2) Q1 2012 adjusted, see notes of interim report
in EUR m Q1 2013 Q1 20122) change
Cash flow from operating activities 27.0 27.0 +/-0.0%
Cash flow from investment activities -10.4 -8.5 +22.2%
Cash flow from financing activities -7.2 0.1 n.a.
Equity ratio stable
Net liquidity doubled
Cash flow stable
in EUR m Q1 2013 2012 change
Cash and cash equivalents 145.5 133.3 +9.1%
Bank liabilities 112.6 118.5 -5.0%
Net liquidity 32.9 14.8 +122.3%
in EUR m Q1 2013 2012 change
Total assets 867.4 824.5 +5.2%
Equity1) 427.7 406.2 +10.3%
Equity ratio 49.3% 49.3% +/-0.0pp
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Outlook
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Outlook
Investor Presentation I Q1 2013 I May 2013 11
Development of Semperit Group
Unchanged targets
Satisfying Q2 development expected
Medical Sector: Further growth through integration of Latexx Partners,
price pressure to continue
Industrial Sector: Stable demand expected
Largely unchanged economic situation in Q2 2013 expected
Positive momentum still missing, limited visibility on Q3 2013
Average double digit growth from 2010-2015 (CAGR)
EBITDA margin of 12 - 15%
EBIT margin of 8 - 11 %
Market view
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Contact and Financial calendar
Investor Presentation I Q1 2013 I May 2013 12
Investor Relations
+43 1 79777 - 210
www.semperitgroup.com/en/ir
Modecenterstrasse 22
1031 Vienna, Austria
Financial calendar 2013 of Semperit
May 7, 2013 Ex-Dividend Day
May 14, 2013 Dividend Payment Day
May 14, 2013 Report on Q1 2013
August 13, 2013 Report on H1 2013
November 12, 2013 Report on Q1-3 2013
Disclaimer
The information provided in this presentation does not constitute an offer for the sale of securities nor an
invitation to submit an offer to purchase shares of Semperit AG Holding, but exclusively serves information
purposes.
The forecasts, plans and forward-looking statements contained in this report are based on the knowledge
and information available and the assessments made at the time that this report was prepared. As is true of
all forward-looking statements, these statements are subject to risk and uncertainties. As a result, the
actual events may deviate significantly from these expectations. No liability whatsoever is assumed for the
accuracy of projections or for the achievement of planned targets or for any other forward-looking
statements.
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APPENDIX
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Income statement: best first quarter results ever
Investor Presentation I Q1 2013 I May 2013 14
1) Q1 2012 adjusted, see notes of interim report
Highlights Q1 2013
Highest revenue in a starting quarter ever
(+6.6% compared to Q1 2012)
Material costs with a slightly lower increase
than revenue due to efficient raw material
management
Personnel expenses rose due to increase in
employees (esp. Latexx Partners takeover)
Stable other operating expenses
Increase in depreciation due to new
capacities in Thailand (installed mainly
throughout 2012) and consolidation of
Latexx Partners
Financial Result weaker due to higher profit
attributable to redeemable non-controlling
shares
Tax rate declined to 17.8% after 20.9% in
Q1 2012
in EUR m Q1 2013 Q1 20121) change
Revenue 215.2 201.8 +6.6%
Other op. Income 6.6 9.4 -29.9%
Material costs -130.9 -124.6 +5.1%
Personell expenses -37.3 -30.0 +24.5%
Other op. expenses -32.6 -32.5 +0.5%
EBITDA 29.3 24.4 +20.4%
Depreciation -10.6 -7.8 +34.8%
EBIT 18.8 16.5 +13.5%
Financial Result -3.0 -1.4 +115.2%
EBT 15.7 15.1 +4.1%
Income taxes -3.3 -3.5 -7.2%
Earnings after tax 12.5 11.6 +7.5%
EPS (EUR) 0.60 0.56 +6.6%
Key Figures Income Statement Q1 2013 vs. Q1 2012
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Solid balance sheet structure
Investor Presentation I Q1 2013 I May 2013 15
Highlights Q1 2013
Increase in total assets due to higher
trade working capital (inventories and
trade receivables) and increase of cash
and cash equivalents
Fixed assets largely unchanged
Equity increases by EUR 20m
Equity ratio (excl. non-controlling
interests) unchanged at 49.3%
Liabilities from shares rose due to profit
allocation
Strong increase in trade payables
Usage of EUR 180m credit line slightly
decreased from level as of end of 2012
in EUR m 31.03.2013 31.12.2012 change
Fixed Assets 399.0 391.1 +2.0%
Inventories 159.4 142.5 +11.9%
Trade accounts receivable 128.7 120.2 +7.1%
Current assets incl. def. taxes 180.4 170.8 +5.6%
ASSETS 867.4 824.5 +5.2%
Key Figures Balance Sheet Q1 2013 vs. FY 2012
in EUR m 31.03.2013 31.12.2012 change
Equity1) 448.2 428.0 +5.3%
Liablities from shares 121.1 110.1 +10.0%
Provisions incl. social capital 66.9 64.8 +3.2%
Other liablities incl. def. tax 231.2 221.6 +4.3%
EQUITY &
LIABILITIES 867.4 824.5 +5.2%
1) incl. non-controlling interests