Tuesday, 24 March 2020 () DGAP-News: SURTECO GROUP SE / Key word(s): Preliminary Results
24.03.2020 / 07:41
The issuer is solely responsible for the content of this announcement.*SURTECO GROUP SE: Forecast for 2019 achieved*
*- Consolidated sales reach € 675.3 million, EBIT at € 21.1 million, including one-off unscheduled payments amounting to € 19.4 million*
Buttenwiesen, 24 March 2020 - SURTECO GROUP SE, holding company for leading national and international brands in surface technology, achieved the sales and earnings forecast for the business year 2019 following submission of provisional, unaudited figures. Consolidated sales amounting to € 675.3 million were situated within the target corridor of € 670 - 700 million. A key factor in the decline of sales compared with the previous year (€ 699.0 million) was the sale of the impregnating business in North America. The operating result (adjusted EBIT) at € 40.5 million was slightly above the forecast. Owing to restructuring provisions and further one-off effects amounting to a total of € 19.4 million, EBIT recognised in the reporting year at € 21.1 million was below the year-earlier value of € 32.2 million.
In 2019, the segments showed varying development. While the biggest division by far is Decoratives and it posted sales slightly below the year-earlier level, as forecast, sales in the Profiles division went up more significantly than projected. The Technicals Segment suffered on the one hand owing to the weak demand for laminate flooring, and on the other hand experienced a negative impact from the sale of the impregnating business in North America and was therefore below the forecast.
"SURTECO achieved the forecast for operating sales and earnings in 2019. The sale of the impregnating business in North America and the initiation of the restructuring measures will continue to improve competitiveness over the medium term. We are on a very good financial footing and our balance sheet is very robust, enabling us to battle the negative impacts anticipated from the very dynamic development of the Corona Crisis," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE, on the development.
The publication of the annual financial statements and the Annual Report for the year 2019 is planned for 30 April 2020. You will find more information about the Group on the Internet at www.surteco-group.com.* *
*SURTECO GROUP SE*
Investor Relations and Press Office
T +49 8274 9988-508
F +49 8274 9988-505
www.surteco-group.com [email protected]
*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 3,100 employees at 22 production sites worldwide, the Group generates annual sales of around EUR 675 million in 2019. 25 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 28 % 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.
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.
24.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Company: SURTECO GROUP SE
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: [email protected]
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: 1004227
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