SURTECO GROUP SE: Adjustment of the forecast for the full year 2022
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EQS-Ad-hoc: SURTECO GROUP SE / Key word(s): Change in Forecast Buttenwiesen, 11 October 2022 – SURTECO GROUP SE reports (based on preliminary figures) sales of approximately € 593 million and earnings (EBIT) of approximately € 41 million in the month from January to September 2022. Although sales revenues expected to remain within the forecast range due to passing on the strong increased raw material prices, demand fell at a surprising rate in the third quarter. Against the background of increasingly difficult framework conditions, the Management Board has adjusted the forecast for the full year 2022. In particular, an expected continued weak demand with persistently high raw material prices mean, that the earnings target of € 55 million to € 65 million in 2022 will no longer be achievable. Countermeasures already introduced, such as the use of short time working in the affected areas, cannot offset the effects of lower demand. As part of its Operational Excellence program, the company is working continuously on further optimizing internal processes and structures and thus sustainably improving the cost position. In this respect, an EBIT of between € 37 million and € 42 million is now expected for the 2022 financial year. The company will publish the report for the first three quarters on 26th October 2022. Contact: Martin Miller Investor Relations ir@surteco-group.com +49 (0)8274 9988-508
11-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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-group.com |
| Internet: | www.surteco-group.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: | 1460245 |
| End of Announcement | EQS News Service |
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1460245 11-Oct-2022 CET/CEST
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