VIENNA, Austria—Semperit A.G.'s group of companies is off to a good start in 2016 despite the negative impact of some poor markets and raw material prices.
The group posted a slight increase in sales although earnings decreased in the first quarter compared to those it recorded in the first period of 2015.
Sales rose to $246 million in the quarter from $244 million last year while the group's EBITDA jumped 22.3 percent to $30 million and EBIT increased 22.2 percent to $21 million.
Earnings after taxes amounted to $11.3 million in the first quarter, down from $14.1 million in the first period of 2015. The decline was primarily due to negative foreign currency effects as well as higher interest expenses, the company said.
Semperit's industrial operation recorded a 6 percent sales increase to $149.7 million while its EBITDA climbed 13.7 percent to $28.1 million.
Its medical business had sales of about $96.2 million, down 6 percent from the year-earlier quarter while its EBITDA improved by 27 percent to $6.8 million.