UK markets open in 2 hours 38 minutes
  • NIKKEI 225

    29,068.63
    +517.70 (+1.81%)
     
  • HANG SENG

    25,330.96
    +368.37 (+1.48%)
     
  • CRUDE OIL

    82.66
    +1.35 (+1.66%)
     
  • GOLD FUTURES

    1,768.10
    -29.80 (-1.66%)
     
  • DOW

    35,294.76
    +382.20 (+1.09%)
     
  • BTC-GBP

    45,191.12
    +435.26 (+0.97%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • ^IXIC

    14,897.34
    +73.91 (+0.50%)
     
  • ^FTAS

    4,123.97
    +16.09 (+0.39%)
     

SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021

  • Oops!
    Something went wrong.
    Please try again later.
·5-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DGAP-News: SURTECO GROUP SE / Key word(s): Half Year Report
30.07.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

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
€ 14.4 million and also significantly above the pre-crisis level. Consolidated net profit rose by 165 % to € 25.7 million (2020: € 9.7 million). Consequently, the company is now expecting sales above € 700 million for 2021 as a whole (previous target: € 650 to 675 million) and EBIT above € 52 million (previously: € 47 to 52 million).

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)

 

    Q1-2 2020

    Q1-2 2021

Consolidated sales

297.1

377.9

- of which Decoratives

214.6

274.5

- of which Technicals

32.9

36.2

- of which Profiles

49.6

67.3

Foreign sales in %

72

74

EBITDA

35.2

59.8

EBITDA margin in %

11.9

15.8

EBIT 1

14.4

38.9

- of which Decoratives

10.4

33.3

- of which Technicals

1.8

3.2

- of which Profiles

5.1

6.6

EBT

14.6

36.9

Consolidated net profit

9.7

25.7

Earnings per share in € 2

0.62

1.66

Cash flow from current business operations

28.6

28.9

Free cash flow

8.6

11.8

 

 

    31/12/2020

    30/06/2021

Balance sheet total

798.8

802.8

Equity

373.3

390.6

Net financial debt

144.7

148.7

Level of debt in % 3

39

38

Equity ratio in %

46.7

48.7

Number of employees

3,052

3,124

 

(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


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 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.
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:

1222536


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting