VIENNA—Semperit Group has recorded a sharp drop in earnings in the first half of 2022, amid increasing costs pressure and a sharp drop within its glove-manufacturing medical business Sempermed.
First half earnings (EBITDA) declined 70 percent to $75.5 million, on 13.6-percent lower sales of $572.7 million, which was driven by "the expected slump in the medical business," the Austrian group reported Aug. 17.
During the period, the Industrial Sector—which includes Semperflex, Sempertrans, Semperform and Semperseal—achieved strong 64.4-percent increase in earnings to $68.3 million on 38.9-percent higher sales of $373.8 million.
This, Semperit said, was primarily due to the increase in average sales prices in all segments, which enabled the "quick" passing through of raw material and energy price increases.
By contrast, the medical sector reported a 92.9-percent decline in earnings to $15.7 million, as sales fell 49.5 percent to $199.1 million.
Semperit linked the decline to a sharp fall in price levels following the end of the boom in demand for medical protective gloves.