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Corporate News: SURTECO GROUP SE: Development of sales and earnings continue on course

SURTECO GROUP SE / Key word(s): Half Year Report
SURTECO GROUP SE: Development of sales and earnings continue on course

31.07.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


SURTECO GROUP SE: Development of sales and earnings continue on course

  • Adjusted EBITDA increases by +26 % to € 57.0 million
  • Earnings per share at € 0.89

Buttenwiesen, 31 July 2024 –  In the first half year of 2024, sales of the SURTECO Group at € 447.6 million increased by +4 % compared with the equivalent year-earlier value of € 428.8 million, in spite of difficult framework conditions. The ongoing weak demand was offset by the full consolidation of the Omnova divisions (in the previous year only for 4 months). On the earnings side, an improved cost of materials ratio and effects generated from the Performance Plus programme resulted in a significant increase in the adjusted earnings before financial result, income tax and depreciation and amortization (adjusted EBITDA) by +26 % to € 57.0 million (2023: € 45.1 million). The reported EBITDA – not including adjustment by transaction and integration costs, PPA step-up inventories and consultancy costs – went up by +60 % to € 56.4 million after € 35.3 million in the previous year. Consolidated net profit in the first half year of 2024 amounted to € 13.8 million, after a loss of € -4.0 million incurred during the previous year resulting from one-off expenses. As a consequence, earnings per share rose from € -0.26 in the previous year to the current value of € 0.89.

SURTECO therefore confirms the forecast for the business year 2024 as a whole with sales in the range between € 860 million and € 910 million and adjusted EBITDA in the range between € 85 million and € 105 million.

“As a result of our consistent cost discipline and our measures generated by the Performance Plus programme, we are on course for meeting our annual targets in an ongoing difficult market environment,” according to Wolfgang Moyses, the Chairman of the Management Board of SURTECO GROUP SE.

You will find the report on the first half of 2024 and other information about SURTECO GROUP SE on the Internet at www.surteco.com.

 

Profile of SURTECO

SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized enterprise listed on the stock exchange with international operations. The company combines leading national and international brands for surface technology under one roof. Its comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edge bandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems. The Group has a workforce of more than 3,500 employees at 26 production sites worldwide, generating annual sales of around € 835 million. 20 % of these sales are in Germany, 39 % in European countries outside Germany and a further 41 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from wood-based, flooring and furniture industries, as well as from interior design.

More information on the company is available at: www.surteco.com

The shares in SURTECO GROUP SE are listed on the official market (Prime Standard) of the Frankfurt and Munich Stock Exchanges under the ticker symbol SUR and ISIN DE0005176903. They are also traded on the stock markets in Berlin, Düsseldorf and Stuttgart.

 

Cautionary note regarding forward-looking statements

This press release may contain statements of future forecasts or expectations and other forward-looking statements and involves known and unknown risks and uncertainties. There is therefore no guarantee for the statements and expectations expressed herein. The actual results and developments may differ substantially. The company assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments.

 

Contact:

SURTECO GROUP SE  
 
Martin Miller
Investor Relations
T: +49 8274 9988-508
 
 
F: +49 8274 9988-515
www.surteco.com
ir@surteco.com
 
 
 

 

Important indicators of SURTECO GROUP SE (in € million)

  1 HY-2023 1 HY-2024 Variation
Consolidated sales 428.8 447.6 +4
      - of which Surfaces 142.3 141.5 -1
      - of which Edgebands 78.8 77.0 -2
      - of which Profiles 73.1 67.6 -7
       -of which North America 108.9 137.1 +26
       -of which Asia / Pacific 25.6 24.3 -5
EBITDA adjusted1 45.1 57.0 +26
      - of which Surfaces 7.3 15.9 +118
      - of which Edgebands 14.7 14.7 -
      - of which Profiles 11.5 9.2 -20
       -of which North America 9.5 18.0 +89
       -of which Asia / Pacific 4.7 3.7 -21
EBT 2.9 19.5 +572
Consolidated net profit -4.0 13.8 +445
Earnings per share in € 2 -0.26 0.89 +443
  1. Adjusted by transaction and integration costs, consultancy costs and PPA step-up inventories
  2. Based on a number of shares amounting to 15,505,731

 

 



31.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: SURTECO GROUP SE
Johan-Viktor-Bausch-Str. 2
86647 Buttenwiesen
Germany
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: ir@surteco.com
Internet: www.surteco.com
ISIN: DE0005176903
WKN: 517 690
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 1957141

 
End of News EQS News Service

1957141  31.07.2024 CET/CEST

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