Semperit AG Holding Updates Guidance and Boosts Target Price

Semperit AG Holding has posted stronger-than-expected Q3 results, leading to an updated "BUY" recommendation from NuWays AG and an increased target price of €23.5. The company's Q3 operating EBITDA rose by 26.5% year-on-year, reaching approximately €27 million, surpassing the estimated €18.8 million. This growth was driven by robust sales and stable pricing amidst challenging market conditions.

Despite this strong performance, a one-off non-cash impairment of €8 million impacted EBIT, which is expected to decline by 28% year-on-year to €6.6 million for Q3. Nonetheless, Semperit raised its FY26 operating EBITDA forecast to about €115 million, reflecting confidence in future quarters.

Semperit's Q4 projections are similarly optimistic, with expected sales of €198 million and an operating EBITDA of around €18 million. This robust guidance suggests that management anticipates successful negotiations and improved margins.

Overall, FY26 is shaping up as a record year, potentially the strongest since FY21, and a return to dividend payments seems likely.