Download PDF

1. Company Snapshot

1.a. Company Description

Semperit Aktiengesellschaft Holding develops, produces, and sells rubber products for the medical and industrial sectors worldwide.It operates through five segments: Sempermed, Semperflex, Sempertrans, Semperform, and Semperseal.The Sempermed segment manufactures examination and surgical gloves in the medical area, as well as protective gloves for industrial, commercial, and private use.


The Semperflex segment develops, produces, and sells hydraulic and industrial hoses that are used in the construction and transport industry, as well as in mining; and agricultural machinery.The Sempertrans segment provides textile and steel-cord conveyor belts for use in mining, steel, cement, civil engineering, and transport industries, as well as in power stations.The Semperform segment offers escalator handrails; ropeway rubber rings; anti-vibration membranes for skis and snowboards; and customised injection moulding and extrusion parts with sealing or damping functions.


The Semperseal segment provides elastomer and sealing profiles for windows, doors, and facades; and elastomer and wear-resistant protective sheeting.The company was founded in 1824 and is headquartered in Vienna, Austria.

Show Full description

1.b. Last Insights on SEM

Semperit Aktiengesellschaft Holding's recent performance was driven by strong insider ownership, with up to 78% of shares held by insiders, as reported on October 25, 2024. This high level of insider ownership suggests aligned interests between management and shareholders, potentially leading to growth-oriented decisions. Additionally, the company's growth prospects were highlighted in a December 19, 2024 article, suggesting that it may be undervalued and trading below its estimated worth. Furthermore, the company's strong fundamentals and market position make it an attractive opportunity for investors seeking growth stocks.

1.c. Company Highlights

2. Semperit's Q3 2025 Earnings: A Turnaround Story

Semperit's financial performance in the first three quarters of 2025 showed significant improvement in the third quarter, with EBITDA increasing by 92% versus Q1 and 9% versus Q2 to EUR 21.3 million. The EBITDA margin expanded by 2.8 percentage points to 13.1% year-on-year. Earnings after tax returned to positive territory in Q3, reaching EUR 2.8 million, a significant turnaround from the losses in the first two quarters and the comparable quarter in 2024. The actual EPS came out at EUR 2.43, in line with estimates.

Publication Date: Nov -29

📋 Highlights
  • Q3 EBITDA Surge: Jumped to EUR 21.3 million (+92% QoQ, +29% YoY) with margin rising 2.8pp to 13.1%.
  • Net Profit Turnaround: Shifted to EUR 2.8 million profit in Q3 after Q1-Q2 losses of EUR 2.5 million and EUR 2.5 million.
  • Cost Savings & Cash Flow: Achieved EUR 4.1 million savings and maintained free cash flow at EUR 22.3 million YTD.
  • Debt Management: Net debt-to-EBITDA ratio at 1.5x (vs 2.5x internal threshold) with EUR 10.3 million dividend paid.
  • 2025 EBITDA Outlook: Revised to EUR 78 million, including EUR 5 million ERP costs and EUR 40 million CapEx.

Revenue Momentum and Order Intake

The company's order intake continues to trend positively year-on-year, with a notable increase in October. According to Helmut Sorger, "We're in a game of catch-up due to strong order activity in Q2 and Q3, and our production capacity is the main bottleneck." The revenue momentum is expected to pick up in the fourth quarter, driven by the order backlog, although the exact revenue growth is difficult to predict.

Cash Flow and Balance Sheet

Semperit maintained a stable free cash flow of EUR 22.3 million in the first nine months. The company's net financial debt-to-EBITDA ratio is at 1.5, below the internal threshold of 2.5. The dividend payment of EUR 0.50 per share on April 30, totaling EUR 10.3 million, demonstrates the company's commitment to returning value to shareholders.

Valuation and Outlook

With a P/E Ratio of -29.21, the stock appears to be trading at a discount. However, the EV/EBITDA ratio of 5.92 suggests that the company's valuation is reasonable. The updated full-year outlook for 2025 expects operating EBITDA of around EUR 78 million. As the company navigates challenging market conditions, the positive order intake and backlog are expected to drive revenue growth in the coming quarters.

Key Drivers and Challenges

The company's hoses business is benefiting from the completed inventory reduction, while profiles are showing early signs of stabilization. However, market conditions remain challenging, particularly in China, where there is a strong decline in handrail sales. The company's ability to manage production capacity and working capital will be key to achieving its targets.

3. NewsRoom

Card image cap

European Growth Companies With High Insider Ownership In December 2025

Dec -01

Source:

Card image cap

European Stocks Trading Below Estimated Value In November 2025

Nov -07

Source:

Card image cap

3 European Growth Companies With High Insider Ownership Expecting Up To 107% Earnings Growth

Oct -31

Source:

Card image cap

3 European Stocks Estimated To Be Undervalued In October 2025

Oct -08

Source:

Card image cap

European Insider-Owned Growth Stocks To Watch In October 2025

Oct -02

Source:

Card image cap

Societe Generale: shares & voting rights as of 31 August 2025

Sep -09

Source:

Card image cap

Vaisala Corporation: Share Repurchase 9.9.2025

Sep -09

Source:

Card image cap

Assessing Acciona (BME:ANA)'s Valuation After Recent Subtle Moves

Sep -09

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.43%)

6. Segments

Semperit Engineered Applications

Expected Growth: 7%

Semperit Engineered Applications' 7% growth is driven by increasing demand for high-performance elastomer solutions in the industrial and automotive sectors, coupled with the company's strategic expansion into emerging markets, innovative product developments, and operational efficiency improvements.

Semperit Industrial Applications

Expected Growth: 6%

Semperit Industrial Applications' 6% growth is driven by increasing demand for high-quality rubber products in the industrial sector, particularly in the areas of conveyor belts, hoses, and seals. Additionally, the segment benefits from its strong market position, innovative product offerings, and strategic partnerships with key customers.

Discontinued Operations

Expected Growth: 0%

Semperit's Discontinued Operations segment shows 0% growth, driven by the divestment of non-core businesses, lack of investment in this area, and a focus on core segments. This stagnation is also attributed to intense competition, flat demand, and high operational costs, leading to a neutral growth outlook.

Examination Operations

Expected Growth: 5%

Semperit's Examination Operations segment growth is driven by increasing demand for medical and protective gloves, expansion into emerging markets, and strategic partnerships. Additionally, investments in digitalization and process optimization enhance operational efficiency, while a strong focus on R&D drives innovation and premium product offerings.

Surgical Operations

Expected Growth: 4%

Semperit's Surgical Operations segment growth is driven by increasing demand for medical gloves, expansion into emerging markets, and strategic partnerships. Additionally, investments in R&D and production capacity enhancements support growth. Furthermore, the segment benefits from a strong brand reputation, high-quality products, and a diversified customer base.

Adjustments

Expected Growth: 3%

Semperit's 3% growth is driven by increasing demand for high-performance rubber products, expansion into emerging markets, and strategic acquisitions. Additionally, the company's focus on innovation, cost savings initiatives, and operational efficiency improvements contribute to its growth momentum.

7. Detailed Products

Sempermed Examination Gloves

High-quality examination gloves for medical professionals, offering comfort, sensitivity, and protection.

Sempercare Medical Gloves

Latex-free, powder-free, and sterile medical gloves for surgical and medical procedures.

Semperflex Industrial Gloves

Durable, chemical-resistant gloves for industrial applications, such as manufacturing, construction, and oil and gas.

Sempertrans Conveyor Belts

High-quality conveyor belts for industrial applications, such as mining, cement, and steel production.

Semperflex Hydraulic Hoses

High-pressure hydraulic hoses for industrial and mobile applications, such as construction, mining, and agriculture.

8. Semperit Aktiengesellschaft Holding's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Semperit Aktiengesellschaft Holding is moderate due to the availability of alternative products in the market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's strong brand reputation and diversified product offerings.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the company's dependence on a few key suppliers for raw materials.

Threat Of New Entrants

The threat of new entrants is high due to the relatively low barriers to entry in the industry and the attractiveness of the market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the market, leading to intense competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 36.78%
Debt Cost 3.98%
Equity Weight 63.22%
Equity Cost 6.56%
WACC 5.61%
Leverage 58.17%

11. Quality Control: Semperit Aktiengesellschaft Holding passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Meier Tobler

A-Score: 5.8/10

Value: 4.4

Growth: 5.9

Quality: 5.5

Yield: 6.9

Momentum: 8.0

Volatility: 4.0

1-Year Total Return ->

View Full Report
Stock-Card
Semperit

A-Score: 5.3/10

Value: 8.6

Growth: 2.2

Quality: 2.9

Yield: 7.5

Momentum: 6.0

Volatility: 4.3

1-Year Total Return ->

View Full Report
Stock-Card
Beijer Alma

A-Score: 4.7/10

Value: 2.4

Growth: 5.4

Quality: 5.3

Yield: 2.5

Momentum: 8.0

Volatility: 4.7

1-Year Total Return ->

View Full Report
Stock-Card
Oerlikon

A-Score: 4.5/10

Value: 7.7

Growth: 2.7

Quality: 1.9

Yield: 9.4

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

View Full Report
Stock-Card
Electrolux Professional

A-Score: 4.2/10

Value: 4.0

Growth: 4.7

Quality: 5.7

Yield: 1.9

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
Komax

A-Score: 2.7/10

Value: 6.3

Growth: 2.9

Quality: 2.6

Yield: 1.2

Momentum: 0.0

Volatility: 3.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

12.96$

Current Price

12.96$

Potential

-0.00%

Expected Cash-Flows