VIENNA (Nov. 29) — Industrial rubber products maker Semperit A.G. reported 5.4-percent growth through the first nine months of fiscal 2005, while the pre-tax operating profit was up 2.9 percent.
Although the overall economic climate remains difficult for the firm, further growth in sales value and volume is expected for 2005 as a whole. The managing board anticipates the pre-tax profit figure will be at the same level as last year and expects another increase in the consolidated net profit.
The earnings situation will depend in large part on how raw material costs continue to develop in the short term and on whether these increases can be passed on in the selling prices, the firm said. Rising purchase prices, especially for oil-based products and for natural rubber and latex, could put a damper on these expectations, as could the highly volatile foreign exchange parities, particularly between the U.S. dollar and the euro.
For the nine-month period, Semperit reported sales of $427 million with pre-tax operating profit of $43 million. Net income rose 9.4 percent to $29.2 million.