Semperit (SEM) Q4 2025 earnings summary

Executive summary

• Achieved operational recovery in 2025 despite geopolitical uncertainties, tariffs, and subdued economic growth, with a clear strategy to surpass EUR 1 billion in sales through profitable growth.

• Operating EBITDA reached EUR 83.6 million, above guidance, with strong margin recovery in H2 supported by cost savings and operational improvements.

• Revenue declined 2.1% year-over-year to EUR 662.4 million, with EBITDA margin at 12.0% (down 0.5pp); EBIT impacted by impairments and currency effects.

• Free cash flow remained solid at EUR 37.0 million, supporting a robust financial base for future investments.

• Strategic focus on industrial niches, technological excellence, innovation, and high customer proximity, supported by operational discipline.

Financial highlights

• Full-year revenue declined 2.1% year-on-year to EUR 662.4 million, with EBITDA down 6.4% to EUR 79.5 million (margin 12%).

• Operating EBITDA at EUR 83.6 million (excluding EUR 4.1 million digitalization project costs), down 3.2% year-over-year.

• EBIT at EUR 25.6 million, down 26.8% year-over-year, mainly due to impairments in LSR customer base.

• Free cash flow was EUR 37.0 million, CapEx at EUR 34.7 million, and net financial debt/EBITDA at 1.2.

• Earnings after tax were positive at EUR 0.4 million, significantly lower than prior year due to currency effects and impairments.

Outlook and guidance

• Expects high single-digit percentage revenue growth in 2026, with both divisions contributing.

• Operating EBITDA targeted at around EUR 95 million and CapEx planned at approximately EUR 50 million.

• Outlook assumes moderate economic recovery and easing geopolitical uncertainty, with stronger performance in H2 2026.

• Mid-term growth drivers include infrastructure programs, EU defense spending, and Ukraine reconstruction.