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SURTECO GROUP SE: Sales increase of 13 % to € 213 million in the first quarter. EBIT at € 20.2 million is 6 % below the year-earlier level as a result of increases in the prices of materials.

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DGAP-News: SURTECO GROUP SE / Key word(s): Quarterly / Interim Statement
SURTECO GROUP SE: Sales increase of 13 % to € 213 million in the first quarter. EBIT at € 20.2 million is 6 % below the year-earlier level as a result of increases in the prices of materials.
29.04.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

SURTECO GROUP SE: Sales increase of 13 % to € 213 million in the first quarter. EBIT at € 20.2 million is 6 % below the year-earlier level as a result of increases in the prices of materials. EBIT margin is 9.5 %, EBITDA margin is 14.6 %

Buttenwiesen, 29 April 2022 - In the first quarter of 2022, sales of the SURTECO Group increased by 13 % to € 213.0 million (Q1 2021: € 188.5 million). During the first three months, no significant impacts from the conflict between Russia and Ukraine were tangible yet in operational business, however the sustained high purchase prices for important raw materials exerted a dampening effect on profit margins. As a consequence, earnings before financial result and income tax (EBIT) fell by six percent compared with the equivalent year-earlier quarter. However, at € 20.2 million (Q1 2021: € 21.5 million) EBIT continued to be at a very high level. While EBIT of the Segments Decoratives (€ 16.8 million after € 18.3 million in the previous year) and Technicals (€ 1.1 million after € 2.3 million in the previous year) fell back, the Segment Profiles succeeded in more than compensating the high cost of raw materials by significantly expanding business and was able to increase EBIT from € 3.1 million in the year-earlier quarter to € 4.8 million in Q1 2022. Consolidated net profit came down by 5 % to € 13.6 million (Q1 2021: € 14.3 million). Earnings per share achieved € 0.88 after € 0.92 in the year-earlier quarter.

Making any projections is difficult owing to uncertainties arising from the conflict between Russia and Ukraine. Provided that there is no further deterioration in the potential impacts on macroeconomic framework conditions and the prices of raw materials, the company assumes sales revenues of between € 730 million and € 750 million for the year 2022 as a whole. Group EBIT is forecast in the range from € 55 million to € 65 million.

You will find the quarterly report for Q1 2022 and other information about SURTECO GROUP SE on the Internet at www.surteco.com.

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)

 

  Q1-2021

    Q1-2022

Variation

Consolidated sales

188.5

213.0

+13 %

- of which Decoratives

136.6

151.6

+11 %

- of whic Profiles

33.0

40.3

+22 %

- of which Technicals

18.9

21.2

+12 %

Foreign sales in %

73

74

+ 1 pts

EBITDA

31.9

31.1

-3 %

EBIT 1

21.5

20.2

-6 %

- of which Decoratives

18.3

16.8

-8 %

- of which Profiles

3.1

4.8

+57 %

- of which Technicals

2.3

1.1

-52 %

EBT

20.4

19.4

-5 %

Consolidated net profit

14.3

13.6

-5 %

Earnings per share in € 2

0.92

0.88

-5 %

 

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

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

 


29.04.2022 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:

1338159


 

End of News

DGAP News Service

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