EQS-News: SURTECO GROUP SE: Good start to the year 2024
EQS-News: SURTECO GROUP SE
/ Key word(s): Quarterly / Interim Statement
SURTECO GROUP SE: Good start to the year 2024
Buttenwiesen, 30 April 2024 – In the first quarter of 2024, sales of the SURTECO Group at € 222.3 million were 8 % above the year-earlier value of € 205.7 million. The acquired divisions of Omnova were only included for one month in the first quarter of the previous year. Earnings before financial result, income tax and depreciation and amortization (EBITDA) increased by 44 % to € 27.6 million (2023: € 19.1 million) and earnings before income tax (EBT) went up by 90 % to € 9.8 million (2023: € 5.1 million), essentially as a consequence of margin improvements arising from the Performance Plus programme and the absence of transaction costs from the acquisition. Consolidated net profit also rose by 90 % to € 6.9 million after € 3.6 million in the previous year, resulting in earnings per share of € 0.44 (2023: € 0.23). Consequently, the forecast set out in the Annual Report 2023 is confirmed. The projection is that Group sales for the business year 2024 as a whole will be in the range between € 860 million and € 910 million, and adjusted EBITDA for the Group in the range between € 85 million and € 105 million. “In a market environment that continues to be difficult, we have succeeded in making a good start to the business year 2024. Our measures derived from the Performance Plus programme have contributed significantly to achieving an improvement in earnings,” commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE. You will find the quarterly report Q1-2024 and other information about SURTECO GROUP SE on the Internet at www.surteco.com.
Profile of SURTECO SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized enterprise listed on the stock exchange with international operations. The company combines leading national and international brands for surface technology under one roof. Its comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edge bandings 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. The Group has a workforce of more than 3,500 employees at 24 production sites worldwide, generating annual sales of around € 835 million. 20 % of these sales are in Germany, 39 % in European countries outside Germany and a further 41 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from wood-based, flooring and furniture industries, as well as from interior design. More information on the company is available at: www.surteco.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 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)
30.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - 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: | ir@surteco.com |
Internet: | www.surteco.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: | 1890869 |
End of News | EQS News Service |
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1890869 30.04.2024 CET/CEST
Surteco SE Stock
The community is currently still undecided about Surteco SE with 2 Buy predictions and 0 Sell predictions.
As a result the target price of 19 € shows a positive potential of 28.38% compared to the current price of 14.8 € for Surteco SE.