DGAP-News: SURTECO GROUP SE: Publication of the Nine-Month Report
DGAP-News: SURTECO GROUP SE
/ Key word(s): 9 Month figures
SURTECO GROUP SE: Publication of the Nine-Month Report - Group sales of EUR 519.3 million in the first three quarters Buttenwiesen, 14 November 2019 - SURTECO GROUP SE, holding company for leading brands in surface technology, succeeded in increasing adjusted sales and earnings in the third quarter. In spite of sustained difficult framework conditions, Group sales adjusted by the US impregnating business divested in July 2019 rose by 2 %. After nine months, sales of EUR 519.3 million (9M 2018: EUR 534.2 million) were reported, although they were slightly below the previous year on an adjusted comparison. In view of falling cost of materials, and lower personnel expenses, the quarterly EBIT (earnings before financial result and income tax) improved by 36 % to EUR 11.4 million compared with the weak year-earlier quarter (EUR 8.4 million). However, after nine months EBIT at EUR 31.6 million was still slightly below the year-earlier value (EUR 31.9 million). Thanks to an improved financial result and income taxes, consolidated net profit at EUR 19.5 million (9M 2018: EUR 19.3 million) was slightly above the year-earlier value after nine months. The sales forecast for 2019 of between EUR 655 million and EUR 685 million appears attainable at the upper end. The same applies to the operating result of between EUR 38 million and EUR 40 million. However, owing to the sustained difficult economic environment, additional measures from the "Alpha" optimization programme may become necessary to safeguard earnings for the coming year and in order to significantly improve earnings over the medium term. Varying segment development Level of debt significantly reduced You can find the report on the first nine months of 2019 and other information about SURTECO GROUP SE on the Internet at www.surteco-group.com.
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Profile of SURTECO With more than 3,300 employees at 23 production sites worldwide, the Group generates annual sales of around EUR 700 million in 2018. 24 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 29 % 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. More information on the company is available at: www.surteco-group.com 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
Important indicators of SURTECO GROUP SE (in EUR million)
(1) Since July 2019 without divested imprenating business (2018 not adjusted)
14.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | [email protected] |
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: | 911623 |
End of News | DGAP News Service |
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911623 14.11.2019
Surteco SE Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Surteco SE stock is not clear.
With a target price of 19 € there is a positive potential of 26.67% for Surteco SE compared to the current price of 15.0 €.