Semperit AG Holding: Dividend Suspension Prepares Ground for Growth

Semperit AG Holding has announced the suspension of its 2025 dividend. This decision aligns with disciplined capital allocation as the company positions itself for growth in the financial year 2026. Despite this, Semperit's financial performance slightly exceeded expectations, with an EBITDA of €78.7 million, underpinned by effective efficiency measures and stable business developments.

The company aims to benefit from improved market conditions anticipated in 2026, with a forecasted sales growth of 7.2% year-on-year to €711 million. This growth is expected from recovering demand, selective price increases, and short-term growth strategies. Semperit displays readiness to capitalize on these developments with expanded production capabilities.

Projections for 2026 indicate an 18% increase in EBITDA to €87 million, supported by cost savings and easing raw material pressures. Free cash flow is expected to rise significantly, setting the stage for potential dividend resumption. Currently, shares trade at a value that suggests the market underestimates potential margins, presenting an attractive entry point for investors as per the given PT of €18.5.