Semperit 1Q 20 - Better Medical & less pressure on Industrial shape strong 1Q
Semperit clearly outperformed our expectations in 1Q. All segments came in somewhat ahead of our forecasts. Sempermed earnings showed the strongest deviation, apparently with pent-up demand from the coronavirus spread already tangible and better production efficiency. The decline of the industrial business was driven by the deteriorated economic framework (especially in Semperflex) but did not yet reflect a noteworthy Covid-19 related impact. It was pointed out that inventory build-up of some customers was supportive.Semperit is a holding company, engaged in developing, producing and selling specialized rubber and plastic products for the medical and industrial sectors. Co. has 20 production facilities in 12 countries. In addition, Co. operates a distribution network with branches in Asia, Europe and North and South America. Co.'s products are sold to providers in the medical and industrial sectors, who are supplied with specialised rubber and plastic products. Co.'s main product categories include examination and surgical gloves, hydraulic and industrial hoses, conveyor belts, escalator handrails, construction profiles, cable car rings, ski foils and products for railway superstructures.
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