VIENNA—Austrian rubber engineering group Semperit A.G. has reported improved results for the first nine months of 2018, with earnings (EBITDA adjusted for negative one-off effects), up 39.1 percent year-on-year at $51.9 million.
Revenues, the Vienna-based company noted in its Nov. 21 financial statement, were stable at $759 million.
"We see clear progress, which manifests itself particularly in the industrial sector," Chariman Martin Fuellenbach said in a statement.
The improvement in operating results, Fuellenbach said, was due to a restructuring program launched at the start of the year. The company has identified "more than 600 initiatives" that could contribute significantly to improving operating results, he said.
Semperit also made "considerable" changes in its personnel, restructuring the first and second management levels in its Sempertrans segment, Fuellenbach added.