Semperit (SEM) Q3 2025 earnings summary

Executive summary

• Q3 2025 EBITDA rose to €21.3 million, up 92% from Q1 and 9% from Q2, with a 28.7% year-over-year increase; earnings after tax turned positive at €2.8 million, reversing prior losses.

• Order intake and backlog now exceed 2024 levels, supporting confidence for year-end; positive momentum after a weak Q1.

• Additional cost savings initiatives will reduce annual costs by €10 million.

• Faced challenging markets in early 2025 due to US tariff policy and weak customer investment, but improved earnings from Q2 onward through cost reductions.

Financial highlights

• Revenue for the first nine months of 2025 was €483.4 million, down 4.6% year-over-year; EBITDA at €52.0 million, down 18.6%; EBIT at €11.8 million, down 55.9%.

• Q3 2025 revenue was €162.9 million (+1.1% YoY); EBITDA margin for Q1-3 2025 at 10.8% (Q1-3'24: 12.6%).

• Free cash flow stable at €22.3 million; net financial debt/EBITDA at 1.5x; equity ratio at 47%.

• Dividend of €0.50 per share (€10.3 million) paid in April 2025.

• Operating EBITDA for the first three quarters was €55.6 million, including €3.5 million in One ERP project costs.

• Earnings after tax for the first nine months were negative €8.4 million, impacted by a €3.3 million impairment and €4.2 million negative currency effects.

Outlook and guidance

• Full-year 2025 operating EBITDA expected at approximately €78 million, before €5 million in One ERP project costs.

• CapEx for 2025 projected at €40 million, with €30 million for maintenance and €10 million for strategic growth.

• Seasonality expected in 2026, with a slower start and stronger second half.

• Midterm growth drivers include German infrastructure, EU defense budgets, and Ukraine reconstruction.