Semperit (SEM) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw a significant turnaround with EBITDA up 92% versus Q1, 9% versus Q2, and 28.7% year-over-year, with earnings after tax returning to positive territory at EUR 2.8 million compared to a loss in Q3 2024.

• Order intake and backlog improved over 2024, supporting confidence for the remainder of the year.

• Cost-saving initiatives defined to reduce annual cost base by EUR 10 million, with EUR 4.1 million achieved by September.

• Maintained a solid financial position with a 47% equity ratio and 1.5x leverage; repaid EUR 31 million Schuldschein loan in Q3.

Financial highlights

• Revenue for the first nine months of 2025 was EUR 483.4 million, down 4.6% year-over-year; EBITDA was EUR 52 million, down 18.6% year-over-year, with a margin of 10.8%.

• Q3 2025 revenue was EUR 162.9 million (+1.1% YoY); EBITDA EUR 21.3 million (+28.7% YoY); earnings after tax EUR 2.8 million (vs. -2.5 million prior year).

• Free cash flow remained stable at EUR 22.3 million; CAPEX reduced to EUR 25.8 million for Q1-3 2025.

• Net financial debt/EBITDA ratio stands at 1.5; equity ratio stable at 47%.

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

Outlook and guidance

• Full-year 2025 operating EBITDA expected at approximately EUR 78 million, before EUR 5 million in digitalization project costs.

• CapEx for 2025 projected at EUR 40 million, with flexibility to adjust based on market conditions.

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

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