Semperit 3Q 20 - Comforting message on 2021 accompanies in-line 3Q
Semperit delivered sound 3Q results that were in line with our forecasts, albeit a slightly lower than anticipated profit contribution by Sempermed was compensated for by a better resilience of the industrial units. The recently hiked FY 20 EBITDA guidance range of EUR 220-225 mn was of course reiterated and the management gave an initial guidance for FY 21, pointing out that this level should be maintained or even exceeded. This sends a strong message, in our view.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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