Sales and earnings within the forecast range in spite of difficult framework conditions
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EQS-News: SURTECO GROUP SE
/ Key word(s): 9 Month figures
SURTECO GROUP SE: Sales and earnings within the forecast range in spite of difficult framework conditions
Buttenwiesen, 31 October 2024 – During the first three quarters of 2024, sales generated by the SURTECO Group increased by 4 % to € 662.2 million (Q1-3 2023: € 637.3 million) in spite of difficult framework conditions. The sustained weak demand was compensated by consolidation of the Omnova divisions (in the previous year only from March to September). On the earnings side, improved ratios for material, personnel and other operating expenses led to a significant increase in adjusted earnings before financial result, income tax and depreciation and amortization (adjusted EBITDA) by +20 % to € 76.8 million (2023: € 64.0 million). Reported EBITDA – without adjustment for transaction and integration costs, PPA step-up inventories and consultancy costs – increased by +63 % to € 76.1 million after € 46.7 million in the previous year. Net profit in the first nine months of 2024 amounted to € 7.8 million, following on from posting a loss of € -13.3 million in the previous year as a result of one-off expenses. As a consequence, earnings per share rose from € -0.86 in the previous year to the current level of € 0.50. Demand in the most important sales markets of the Group has once more been significantly subdued in comparison with the first half year of 2024 and it is not likely to undergo substantial improvement in the near future. Group sales are therefore expected within the range between € 860 million and € 880 million and adjusted EBITDA is anticipated in the range between € 85 million and € 95 million, which is within the forecast framework as set out in the Annual Report 2023. “We expect a very challenging final quarter in 2024. However, our aim is to achieve the lower range of our forecast with our improved cost positions and the Performance Plus programme,” commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE. You will find the report on the first three quarters 2024 and other information about SURTECO GROUP SE on the Internet at www.surteco.com. Contact:
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. Important indicators of SURTECO GROUP SE (in € million)
31.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 2019209 |
| End of News | EQS News Service |
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2019209 31.10.2024 CET/CEST
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