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DGAP-News: SURTECO GROUP SE / Key word(s): Half Year Report
SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021
- Group sales increase by 27 % to € 377.9 million
- EBIT at € 38.9 million up by 170 % above the year-earlier value in spite of a strong increase in the cost of raw materials
- Annual targets raised. Sales now above € 700 million and EBIT above € 52 million expected
Buttenwiesen, 30 July 2021 - SURTECO GROUP SE, holding company for leading national and international surface-technology brands, succeeded in continuing to increase its sales revenues in the second quarter of 2021.The strongest quarterly sales in the company's history so far in the first quarter of 2021 were once again exceeded in the second quarter with sales of € 189.4 million. Overall, Group sales in the first half year of 2021 increased by 27 % to € 377.9 million compared with the year-earlier amount and thereby outperformed the level before the COVID-19 pandemic. In spite of a strong increase in the cost of raw materials, which could only be partly passed on and with a time lag, earnings before financial result and income tax (EBIT) at € 38.9 million were 170 % above the year-earlier value of
The improvements were generated from all segments of the Group. Decoratives, the Group's biggest segment, increased sales from € 214.6 million in the previous year to € 274.5 million in the first half year of 2021. EBIT improved by 220 % to the current level of € 33.3 million. After Profiles was already able to buck the trend in the previous year of the COVID-19 pandemic with rising sales, half-year sales increased by 36 % to € 67.3 million and EBIT went up by 29 % to € 6.6 million. Technicals achieved sales of € 36.2 million (2020: € 32.9 million). EBIT rose by 78 % to € 3.2 million.
"After the best quarter in the company's history at the start of 2021, the second quarter was impacted by severe increases in the cost of raw materials and insufficient availability. As a result of the early introduction of countermeasures and the continuing good demand, we see it possible to achieve sales and earnings above our original targets for the year," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.
You will find the report on the first half year of 2021 and other information about the SURTECO GROUP SE on the Internet at www.surteco.com.
Important indicators of SURTECO GROUP SE (in € million)
(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
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.
30.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
SURTECO GROUP SE
+49 (0)8274 99 88-0
+49 (0)8274 99 88-5 05
Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
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