olivLaw · European equity research
Semperit Aktiengesellschaft Holding SEM.VI
Austria · Wiener Börse · ISIN AT0000785555 · Vertical: Listed companies from Austria
Semperit is an Austrian group that makes rubber and elastomer components for industrial and technical applications, with production in Europe, Asia and North America. After a difficult 2025 the group returned gradually to a growth path, and management expects operating EBITDA of about 95 mn EUR in 2026, provided the economic and geopolitical environment stabilises. Revenue was 662.363 mn EUR in 2025, and the EBITDA margin improved in the second half of the year.
At the close of 05 Nov 2026, Semperit Aktiengesellschaft Holding (SEM.VI) stock was 18.05 EUR (−0.28% on the day), with market capitalisation 379.1 m EUR, P/E 902.5 on diluted EPS of 0.02 EUR over the last 12 months, dividend yield 2.77%, beta 0.15, 52-week range 11.58–19.80 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 48.3
- neutral
- Bollinger (20, 2)
- 16.64 – 20.28
- in the lower half of the band · %B 0.39 · band width 19.7%
- SMA 50 / 200
- 18.38 / 15.30
- mixed trend
- MACD (12, 26, 9)
- -0.29 / -0.16
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.4% | +0.4% | −7.8 pp | — |
| 3 months | +19.5% | −3.3% | +22.8 pp | — |
| 6 months | +20.3% | +4.0% | +16.4 pp | — |
| Year to date | +44.9% | +8.1% | +36.8 pp | — |
| 1 year | +39.3% | +10.7% | +28.6 pp | +5.3% |
| 3 years | +18.8% | +50.1% | −31.3 pp | +3.6% |
| 5 years | −39.1% | +43.6% | −82.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 21.1, median 322.1, max 623.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 681.8 m | 676.6 m | 662.4 m |
| Revenue YoY | unavailable | −0.8% | −2.1% |
| Net income | -16.8 m | 11.5 m | 420.0 k |
| Net income YoY | unavailable | unavailable | −96.3% |
| Diluted EPS | -0.82 | 0.56 | 0.02 |
| Diluted EPS YoY | unavailable | unavailable | −96.4% |
| net % | -2.5% | 1.7% | 0.1% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 94.8 m EUR
- Financial debt
- 173.9 m EUR
- Net debt
- 79.0 m EUR
- Equity
- 415.7 m EUR
- Total assets
- 857.1 m EUR
- Debt / equity
- 0.42x
- Current ratio
- unavailable
- ROE
- 0.1%
- ROA
- 0.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 681.8 m | 676.6 m | 662.4 m | esef· 18 Mar 2026verified |
| Operating income | 34.0 m | 35.0 m | 25.6 m | esef· 18 Mar 2026verified |
| Depreciation & amortisation | 36.5 m | 47.5 m | 49.5 m | esef· 18 Mar 2026verified |
| EBITDA | 70.5 m ≈ | 82.4 m ≈ | 75.1 m ≈ | esef· 18 Mar 2026derived |
| Interest expense | 7.8 m | 14.1 m | 11.1 m | esef· 18 Mar 2026verified |
| Pre-tax income | 25.3 m | 21.5 m | 6.9 m | esef· 18 Mar 2026verified |
| Income tax | 892.0 k | 10.1 m | 6.4 m | esef· 18 Mar 2026verified |
| Net income | -16.8 m | 11.5 m | 420.0 k | esef· 18 Mar 2026verified |
| Diluted EPS | -0.82 | 0.56 | 0.02 | esef· 18 Mar 2026verified |
| Dividend per share | — | 0.50 | 0.50 | esef· 18 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 112.7 m | 126.0 m | 94.8 m | esef· 18 Mar 2026verified |
| Inventories | 110.8 m | 85.7 m | 83.0 m | esef· 18 Mar 2026verified |
| Property, plant & equipment, net | 447.5 m | 466.6 m | — | esef· 15 Apr 2025verified |
| Total assets | 937.9 m | 912.9 m | 857.1 m | esef· 18 Mar 2026verified |
| Long-term debt | 219.2 m | 190.0 m | 173.9 m | esef· 18 Mar 2026verified |
| Equity | 425.3 m | 430.9 m | 415.7 m | esef· 18 Mar 2026verified |
| Shares outstanding at year end | 20.5 m | 20.5 m | 21.0 m | esef· 18 Mar 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 379.1 m EUR
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.23 – 13.72 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA8.79 – 13.72 (Mid 10.94)4 companies used · median multiple 4.1x · quartiles 3.5x – 4.9xETS.VI, FAA.VI, FKA.VI, PYT.VI
- Peers: P/E0.23 – 0.44 (Mid 0.34)25 companies used · median multiple 17.0x · quartiles 11.7x – 22.2x1AST.VI, ACAG.VI, AMAG.VI, ANDR.VI, BMAG.VI, CPI.VI, DOC.VI, ETS.VI, EVN.VI, FAA.VI, FACC.VI, FQT.VI, MMK.VI, OMV.VI, POS.VI, POST.VI, PYT.VI, ROS.VI, SBO.VI, STR.VI, SWUT.VI, TKA.VI, VER.VI, VOE.VI, WIE.VI
- Dividend discount (DDM)6.80 – 9.27 (Mid 7.85)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.3% | 20 (vs peers) | 19% |
| Net margin · Quality | 0.1% | 23 (vs peers) | 12% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 1.1x | 17 (vs peers) | 19% |
| Interest coverage · Balance sheet | 2.3x | 12 (on a fixed band) | 12% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 902.5x | 0 (vs peers) | 19% |
| EV/EBITDA · Valuation | 6.1x | 40 (vs peers) | 19% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet15/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality21/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation20/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Semperit Aktiengesellschaft Holding (SEM.VI). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 662.4 m EUR in 2025; YoY growth -2.1%; net margin 0.1%; ROE 0.1%; net debt/EBITDA 1.1x.
The estimated value range is 6.80–9.27 EUR per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 7.85 EUR, the price of 18.05 EUR leaves a potential of -56.5% (value / price − 1) and a margin of safety of -130.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: 4.3%
- Net margin: 0.1%
- Net debt / EBITDA: 1.1x
- Interest coverage: 2.3x
- P/E (TTM): 902.5x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Current ratio, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Austria · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OMV.VIOmv Aktiengesellschaft | 35.6 bn | 23.4 | 8.9% | 6.3% | −7.2% | +53% / +86% |
| VER.VIVerbund AG | 26.2 bn | 17.6 | 14.7% | 18.6% | −2.8% | +19% / −14% |
| STR.VIStrabag Se | 11.7 bn | 12.8 | 17.2% | 4.9% | +7.4% | +32% / +168% |
| ANDR.VIAndritz AG | 8.1 bn | 17.7 | 19.3% | 5.8% | −5.2% | +33% / +66% |
| VOE.VIvoestalpine AG | 7.1 bn | 17.0 | 5.7% | 2.8% | −4.3% | +12% / +61% |
| EVN.VIEvn AG | 5.5 bn | 12.5 | 6.9% | 14.6% | +3.8% | +15% / +14% |
| ATS.VIAT & S Austria Technologie & Systemtechnik Aktiengesellschaft | 2.5 bn | — | -2.4% | -1.4% | +12.7% | +238% / +346% |
| DOC.VIDO & CO Aktiengesellschaft | 2.4 bn | 22.2 | 24.0% | 4.3% | +7.1% | +12% / +70% |
| CPI.VICPI Europe AG | 2.2 bn | 4.2 | 12.2% | 68.2% | −6.7% | +1% / −17% |
| POST.VIÖsterreichische Post Aktiengesellschaft | 2.2 bn | 16.4 | 18.3% | 4.3% | −2.6% | +6% / +2% |
| WIE.VIWienerberger AG | 1.9 bn | 11.7 | 5.9% | 3.6% | +1.2% | −40% / −32% |
| LNZ.VILenzing Aktiengesellschaft | 1.8 bn | — | -11.8% | -5.2% | −2.3% | −48% / −65% |
| MMK.VIMayr-Melnhof Karton Aktiengesellschaft | 1.3 bn | 17.1 | 3.6% | 1.9% | −4.8% | −21% / −41% |
| POS.VIPorr AG | 1.2 bn | 10.7 | 12.9% | 1.8% | +1.7% | +6% / +167% |
| AMAG.VIAMAG Austria Metall AG | 1.1 bn | 33.4 | 4.7% | 2.3% | +2.1% | +34% / +19% |
| BMAG.VIPIERER Mobility AG | 1.1 bn | 1.8 | 638.9% | 58.9% | −46.3% | +85% / −47% |
| FQT.VIFrequentis AG | 790.7 m | 28.1 | 15.5% | 4.9% | +20.8% | −14% / +111% |
| ETS.VIEuroTeleSites AG | 745.4 m | 22.3 | 8.8% | 11.9% | +3.7% | −6% / +34% |
| AGR.VIAGRANA Beteiligungs-Aktiengesellschaft | 722.9 m | — | -3.6% | -1.2% | −7.9% | −3% / −15% |
| FACC.VIFacc AG | 602.4 m | 28.4 | 9.1% | 2.2% | +11.3% | +22% / +127% |
| ROS.VIRosenbauer International AG | 591.1 m | 11.9 | 17.4% | 3.5% | +9.4% | +35% / +104% |
| 1AST.VIASTA Energy Solutions AG | 467.7 m | 15.5 | 42.3% | 4.3% | +8.3% | unavailable / unavailable |
| SBO.VISbo AG | 456.6 m | 19.4 | 5.2% | 5.2% | −18.8% | +5% / −30% |
| SEM.VISemperit Aktiengesellschaft Holding | 379.1 m | 902.5 | 0.1% | 0.1% | −2.1% | +39% / +28% |
| ACAG.VIAustriacard Holdings AG | 347.8 m | 25.6 | 11.4% | 4.1% | −8.2% | +76% / +65% |
1- and 3-year price returns: for SEM.VI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 9.96 Total return -45% · Per year -45% | 17.67 Total return -2% · Per year -2% | 26.70 Total return 48% · Per year 48% |
| 3 years | 8.43 Total return -53% · Per year -22% | 16.94 Total return -6% · Per year -2% | 28.27 Total return 57% · Per year 16% |
| 5 years | 7.13 Total return -60% · Per year -17% | 16.23 Total return -10% · Per year -2% | 29.93 Total return 67% · Per year 11% |
- Exit P/E± 4.23
- Net margin± 2.96
- Annual revenue growth± 2.60
- Annual dilution± 0.25
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Semperit is an Austrian group that makes rubber and elastomer components for industrial and technical applications, with production in Europe, Asia and North America. After a difficult 2025 the group returned gradually to a growth path, and management expects operating EBITDA of about 95 mn EUR in 2026, provided the economic and geopolitical environment stabilises. Revenue was 662.363 mn EUR in 2025, and the EBITDA margin improved in the second half of the year.
SWOT
Strengths
- A group with production bases in several regions and diversification across two divisions, which allowed relative stability in the difficult year 2025 1.
- A solid balance sheet and high liquidity, offering flexibility for investment and for managing market cycles 1.
- Consistent cost reduction and efficiency measures applied since 2023, which improved the quality of results 1.
Weaknesses
- Margins are under pressure from low-cost competition, and performance has been uneven across divisions and segments 1.
- Net profit stayed close to zero in 2025, showing the sensitivity of the result to depreciation, impairments and financing costs 1.
- Dependence on industrial customers with long cycles means that delayed projects can quickly affect volumes 1.
Opportunities
- A recovery in construction and industrial investment in Europe could support sales growth in the SIA division 1.
- EU infrastructure and defence programmes could open new opportunities for the group's technical products 1.
- Products with lower environmental impact and innovation in materials may offer competitive advantages if demand for sustainable solutions grows 1.
Risks
- Margin pressure from Asian competitionhigh
Low-cost competition from Asia could intensify price pressure and reduce margins in key segments 1.
- Risks from US tariffs and trade policyhigh
Frequent tariff changes could make import costs hard to estimate and could reduce market share in the US 1.
- Costs linked to CBAM and the steel regimemedium
From 2026 the obligation to purchase CBAM certificates could raise costs, and new EU steel quotas could affect prices and material availability 1.
- Exposure to extreme weather eventsmedium
The flooding in 2025 that halted production at a Thai plant shows that extreme rainfall can interrupt operations, although the group's business was not endangered 1.
- Delays in the oneERP transformation projectlow
Digitalisation and systems integration projects could exceed budget or schedule, and additional costs could weigh on results 1.
Investment thesis
What would need to be true (bull case)
- If demand in construction and industry recovers in the second half of the year, the group could benefit disproportionately from its optimised cost structure 1.
- Rising infrastructure and defence programmes in Europe could provide an additional impulse over the medium term 1.
- A balance sheet with substantial equity and liquidity could allow growth investments without major financial pressure 1.
What would break the thesis
- If price pressure from Asian competition persists, margins could remain below the level management expects 1.
- If US tariff policy stays volatile, planning and competitiveness on the American market could be affected 1.
- If the demand recovery is delayed beyond the second half of the year, the EBITDA target for 2026 could be difficult to reach 1.
What to watch
- Development of sales and operating EBITDA against the target of about 95 mn EUR2026
- Signals of recovery in the sealing business and German construction2026
- Impact of CBAM costs and the new steel regime on margins2026
- Progress of the oneERP project and of capex of about 50 mn EURnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Semperit Aktiengesellschaft Holding, based in Vienna, is the holding company of an international group that develops and manufactures rubber and elastomer products. Activities are organised in two divisions, Semperit Industrial Applications and Semperit Engineered Applications, and the group keeps its own production sites in Europe, Asia and North America 1. Revenue in 2025 was 662.363 mn EUR and EBIT was 25.589 mn EUR 1. The group also reports a transformation project called oneERP, whose first roll-out took place in November 2025 1.
The balance sheet remains solid, with an equity ratio of 48.5% at the end of 2025 and liquid funds of 94.8 mn EUR, which allows both investment in the existing business and growth investments 1. The management board did not propose a dividend for fiscal 2025, prioritising the strengthening of the financial base 1.
The group also pursues sustainability targets towards 2030, including reducing Scope 1 and Scope 2 emissions by 10% against 2023 and covering 75% of supplier spend with EcoVadis certification 1.
Segments
Semperit Industrial Applications (SIA)
The industrial applications division includes, among others, the hose business and the sealing business. Management sees a positive sign in the fact that customer inventory reduction in the hose area has been completed, while early indicators such as building permits in Germany show first signs of recovery in sealing 1.
Semperit Engineered Applications (SEA)
The engineered applications division shows uneven developments: some product groups, such as mountain applications and handrails in Europe, perform very well, while other areas are still affected by longer product life cycles and customer project delays 1.
Investments and infrastructure projects
Management considers that the infrastructure programme in Germany, rising defence spending in the European Union and efforts to rebuild Ukraine could become clearly positive drivers for the group's development over the medium term 1.
Market context
The market environment in 2025 remained challenging, marked by economic uncertainty, volatility in raw material markets and geopolitical tensions that affected supply chains and transport costs 1. For 2026 the group expects revenue growth in the high single-digit range, with a clearer recovery in the second half of the year, though the outlook depends on the continuation of a slight economic recovery 1.
US trade policy and variable tariffs have created uncertainty for products exported to the American market, while the new EU steel import regime and the CBAM mechanism add cost and compliance risks for 2026 1.
Trends
- Gradual recovery in industrial demandtailwind
The end of customer destocking and early signals from construction could support demand in the second half of 2026 1.
- Infrastructure and defence investment in Europetailwind
Infrastructure programmes in Germany and EU defence spending are cited by management as positive medium-term drivers 1.
- US trade policy and tariffsheadwind
Frequent changes to tariffs could reduce the competitiveness of products on the US market and make import cost budgeting harder 1.
- Climate regulation and carbon costsmixed
The CBAM mechanism, with the obligation to buy certificates from 2026, could raise procurement costs and pressure margins, but it also rewards products with a lower carbon footprint 1.
Competitive position
The group reports intense competition in several core segments, especially from low-cost Asian suppliers, which puts pressure on prices and margins 1. To protect its position, Semperit focuses on higher-margin segments, innovation in materials and cost efficiency 1.
The analysed sources do not identify competitors listed on US markets, so the list below is limited to what the report explicitly mentions 1.
- Low-cost Asian suppliers
The report cites competition from lower-cost Asian suppliers as the main source of price pressure, without naming specific companies 1.
- Local producers of alternatives on the US market
The report notes that exported products are disadvantaged against local US alternatives after tariff increases, without identifying a company 1.
- Material and technology suppliers in technical segments
Competition in the engineered divisions is described in general terms, with no other companies named in the analysed source 1.
- Other participants in infrastructure and defence projects
The source only mentions the end markets targeted, not named competitors 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202518 Mar 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Semperit Aktiengesellschaft Holding · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.