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SURTECO GROUP SE: Consolidated net profit of € 47.8 million in 2021 at historic high. Planned dividend payment of € 1.00 means an increase in payout of 25 %.

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DGAP-News: SURTECO GROUP SE / Key word(s): Annual Report
14.04.2022 / 07:05
The issuer is solely responsible for the content of this announcement.

SURTECO GROUP SE: Consolidated net profit of € 47.8 million in 2021 at historic high. Planned dividend payment of € 1.00 means an increase in payout of 25 %.

- Earnings per share at € 3.08 after € 2.17 in the previous year

- Sales in 2022 projected at € 730 to 750 million. EBIT between € 55 and 65 million is expected.

Buttenwiesen, 14 April 2022 - The sales of the SURTECO group increased by 21 % in the business year 2021 to € 757.1 million (2020: € 627.0 million). This figure even significantly exceeded the level before the COVID-19 pandemic. Although there was a steady increase in the cost of materials, it was only possible to pass some of these costs on and with a time lag, the Group generated EBIT of € 72.5 million (+57 %) in the business year 2021. The consolidated net profit climbed by 42 % to the historic high of € 47.8 million. Against this background, the Management Board and the Supervisory Board will submit a proposal to the Annual General Meeting of SURTECO GROUP SE on 7 June 2022 - which is again being held as a virtual meeting - that a dividend payment of € 1.00 per share be made. This corresponds to a payout ratio for the consolidated net profit of around 32 %.

"The business year 2021 was the most profitable year in the company history of SURTECO. In view of the devastating conflict in Europe and huge price rises for raw materials, there is however little likelihood of this success being repeated in 2022," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.

Continued high quality of the balance sheet

While the balance sheet total eased slightly to € 795.1 million (2020: € 798.8 million), equity went up by 11 % to € 413.7 million (2020: € 373.3 million). On 31 December 2021, SURTECO posted an equity ratio of 52.0 % (2020: 46.7 %). Net financial debt rose slightly to € 152.6 million (2020: € 144.7 million) while the level of debt came down from 38.8 % to 36.9 %. Owing to the high cost of raw materials and stockpiling to ensure ongoing production, working capital went up from € 99.6 million in 2020 to € 151.8 million at year-end 2021.

First quarter and outlook for 2022:

SURTECO preliminary figures indicate that sales revenues increased significantly compared with the previous year in the first quarter of 2022. Group sales increased by 13 % to approximately € 213 million (2021: € 188.5 million). As a result of the significantly elevated cost of materials, preliminary EBIT is approximately € 20 million less than the year-earlier value of € 21.5 million. The dramatic conflict between Russia and Ukraine means that the capacity for making a forecast about the future is significantly constrained. The company is currently projecting sales of € 730 to 750 million for the entire year 2022. Group EBIT is expected in the corridor between € 55 and 65 million.

You will find the Annual Report for the year 2021 and other information about SURTECO GROUP SE on the Internet at www.surteco.com. The final quarterly report Q1-2022 will be published on 29 April 2022.

 

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 757 million in 2021. 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.

 

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)

 

   2020

     2021

 Variation

Consolidated sales

627.0

757.1

+21

- of which Decoratives

451.7

549.3

+22

- of whic Profiles

106.3

136.5

+28

- of which Technicals

69.1

71.2

+3

Foreign sales in %

73

75

+2 pts.

EBITDA

88.3

114.8

+30

EBIT 1

46.1

72.5

+57

- of which Decoratives

38.9

62.3

+60

- of which Profiles

10.3

12.7

+24

- of which Technicals

5.2

5.6

+7

EBT

43.3

70.0

+62

Consolidated net profit

33.7

47.8

+42

Earnings per share in € 2

2.17

3.08

+42

Dividend per share in €3

0.80

1.00

+25

Cash flow from current business operations

82.7

43.8

-47

Free cash flow

52.0

13.1

-75

 

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

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

(3) Proposal of Supervisory Board and Management Board


14.04.2022 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.
Archive at www.dgap.de

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:

1327561


 

End of News

DGAP News Service

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