SURTECO GROUP SE

  • WKN: 517690
  • ISIN: DE0005176903
  • Land: Deutschland

Nachricht vom 29.10.2021 | 07:30

SURTECO GROUP SE: Sales and EBIT significantly increased in the first three quarters

DGAP-News: SURTECO GROUP SE / Key word(s): 9 Month figures
29.10.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

 

SURTECO GROUP SE: Sales and EBIT significantly increased in the first three quarters

- Group sales up by 23 % to € 566.1 million

- EBIT at € 59.1 million up by 105 % compared with year-earlier
value despite sustained higher cost of raw materials

- Sales expected between € 725 and € 750 million. EBIT expected between € 63 and € 68 million for 2021

Buttenwiesen, 29 October 2021 - SURTECO GROUP SE, holding company for leading national and international brands of surface technology, once again succeeded in significantly increasing its sales revenues year on year in the third quarter of 2021. Accumulated over the first three quarters, Group sales climbed by 23 % to € 566.1 million compared with the previous year. Sustained high cost of raw materials, which could only be partly passed on and with a delay, is increasingly exerting a negative impact on the cost of materials ratio. Nevertheless, earnings before financial result and income tax (EBIT) rose by 105 % to € 59.1 million compared with the year-earlier value of € 28.8 million. This success was essentially due to improved Group structures in the context of restructuring launched at the end of 2019. Consolidated net profit went up by 112 % to € 39.4 million (2020: € 18.6 million). Insofar, the company is now expecting sales between € 725 and
€ 750 million (original target range: € 650 to € 675 million) and an EBIT between
€ 63 and € 68 million (original target range: € 47 to € 52 million) for the full year 2021.

All segments of the Group contributed to the positive results. Decoratives, the biggest segment in the Group, increased sales from € 331.0 million in the previous year to € 410.8 million. EBIT improved from € 21.6 million to the current value of € 50.7 million. Profiles increased sales from € 77.9 million in the previous year to € 102.6 million and EBIT from € 8.1 million to € 10.4 million. Technicals achieved sales of € 52.8 million (2020: € 50.4 million). EBIT went up from € 3.3 million to € 4.7 million.

 

"In view of the good business performance during the first three quarters, we are targeting sales between € 725 million and 750 million and EBIT between € 63 million and € 68 million for the year 2021 overall. This is subject to the provision that the already tense situation in the raw materials markets does not deteriorate further." according to Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.

You will find the report for the first three quarters of 2021 and other information about SURTECO GROUP SE on the Internet at www.surteco.com.

 

Important indicators of SURTECO GROUP SE (in € million)

  Q1-3 2020 Q1-3 2021
Consolidated sales 459.3 566.1
- of which Decoratives 331.0 410.8
- of which Technicals 50.4 52.8
- of which Profiles 77.9 102.6
Foreign sales in % 73 74
EBITDA 59.9 90.6
EBITDA margin in % 13.0 16.0
EBIT 1 28.8 59.1
- of which Decoratives 26.1 50.7
- of which Technicals 3.3 4.7
- of which Profiles 8.1 10.4
EBT 27.1 56.4
Consolidated net profit 18.6 39.4
Earnings per share in € 2 1.20 2.54
Cash flow from current business operations 53.5 29.5
Free cash flow 27.4 6.4
 
  31/12/2020 30/09/2021
Balance sheet total 798.8 797.2
Equity 373.3 404.9
Net financial debt 144.7 155.1
Level of debt in % 3 39 38
Equity ratio in % 46.7 50.8
Number of employees 3,052 3,161
 

(1) Difference to balance of segment earnings due to internal clearing

(2) Based on a number of shares amounting to 15,505,731

(3) Net financial debt to Equity


Contact:

SURTECO GROUP SE  
Martin Miller
Investor Relations and Press Office
T +49 8274 9988-508
F +49 8274 9988-505
 
www.surteco.com
ir@surteco.com
 
 

Profile of SURTECO

SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized holding company with international operations. The company listed on the stock exchange combines leading national and international brands for surface technology under one roof. The comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edgebandings 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. With more than 3,000 employees at 22 production sites worldwide, the Group generates annual sales of around EUR 627 million in 2020. 27 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 26 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from the wood-based, flooring and furniture industries, as well as from interior design.

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.



29.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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