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SURTECO GROUP SE: Preliminary sales and earnings for the first half of the year 2021 - Forecast raised

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SURTECO GROUP SE / Key word(s): Preliminary Results/Change in Forecast
SURTECO GROUP SE: Preliminary sales and earnings for the first half of the year 2021 - Forecast raised

14-Jul-2021 / 15:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

SURTECO GROUP SE: Preliminary sales and earnings for the first half of the year 2021 - Forecast raised


Buttenwiesen, 14 July 2021

The sales and earnings development of SURTECO GROUP SE was better than expected in the first half of 2021. Due to the positive business development, the half-yearly sales are according to preliminary figures at approx. € 378 million and thus above the internal and external assumptions. Despite significant cost increases and supply bottlenecks for the most important raw materials, the preliminary earnings before interest and taxes (EBIT) rose by +170% compared to the previous year, more significantly than expected to around € 39 million.

The company is raising its targets for the full year 2021. The group sales should clearly exceed the original target of € 650 million to € 675 million and is likely to be above € 700 million. Group EBIT is also expected to be above € 52 million - the upper end of the original range of € 47 million to € 52 million. This is on the condition that there are no new disruptions in the sales markets due to a flare-up of the Covid-19 pandemic or further tightening of raw material costs and the supply situation.

SURTECO GROUP SE will publish the full half-year report for 2021 on 30 July 2021.




Contact:
Martin Miller
Investor Relations
ir@surteco-group.com
+49 (0)8274 9988-508

14-Jul-2021 CET/CEST 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:

1218900


 

End of Announcement

DGAP News Service

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