SURTECO SE, DE0005176903

SURTECO SE, DE0005176903

24.03.2017 - 08:02:29

SURTECO SE: Increase in EBIT by 31 % to EUR 40.9 million in 2016

SURTECO SE: Increase in EBIT by 31 % to EUR 40.9 million in 2016

- Slight increase in consolidated sales to EUR 639.8 million

- Renewed increase in earnings expected in 2017

Buttenwiesen-Pfaffenhofen, 24 March 2017 - SURTECO SE - one of the world's leading manufacturers of decorative surface materials and producer of technical extrusions (profiles) - in line with expectations succeeded in significantly improving its result in the business year 2016. Provisional figures for earnings before financial result and income tax (EBIT) went up by 31 % compared with the previous year to EUR 40.9 million. Earnings before income tax (EBT) also increased by 31 % to EUR 35.0 million. The two Strategic Business Units, Paper and Plastics, both contributed to this positive development. Key factors for this result were a high level of profitability and the scheduled significantly reduced one-off expenses arising from the concentration of German decorative printing activities. Although a new record was set for consolidated sales at EUR 639.8 million (2015: EUR 638.4 million), this still remains slightly below our own expectations, since the increase was primarily due to the initial sales contributions from the British Nenplas Group (SURTECO share: 85 %) taken over on 1 December 2016.

"On the earnings side, the measures we have taken to increase efficiency mean that we are entitled to be satisfied with the year 2016. Challenges on the raw materials side are beginning to emerge during the first few months of the current business year. Nevertheless, we expect to see a renewed improvement in earnings. However, this is subject to the currently very high level of cost of raw materials returning to a reasonable level over the course of the year, commented Dr. Herbert Müller, Chairman of the Board of Management of SURTECO SE, on development.

 

Outlook 2017: Significant turbulence on the raw materials market

SURTECO is anticipating modest increases in sales for the Group from the first-time full consolidation of the Nenplas Group in the business year 2017. The framework conditions are difficult on the earnings side due to significant price increases for the important raw materials ABS (acrylonitrile butadiene styrene) and titanium dioxide. SURTECO can offset these increases in the price of raw materials with the contribution to earnings from the Nenplas Group and a further rise in profitability. Earnings should therefore also increase in 2017.

The publication of the annual financial statements and the Annual Report for the year 2016 is planned for 28 April. You will find more information about SURTECO SE on the Internet at www.ir.surteco.com.

 

Contact:

SURTECO SE   Andreas Riedl Chief Financial Officer + 49 (0) 8274/99 88-563 Martin Miller Investor Relations and Press Office + 49 (0) 8274/99 88-508 Internet www.ir.surteco.com Email ir@SURTECO.com Fax + 49 (0) 8274/99 88-515    

 

Profile of SURTECO SURTECO SE, Buttenwiesen-Pfaffenhofen, is a leading international specialist for surface technologies. The product portfolio includes papers printed with decorative designs, impregnated products, release papers, decorative flat foils and edgebandings based on specialist papers for technical applications and plastics. The extensive product portfolio is completed by skirtings made of plastic, technical extrusions for industry and do-it-yourself ranges and shutter systems. The Group currently has a workforce of appr. 2,800 and manufactures at 23 sites on four continents, currently generating approximately 27 % of sales in Germany, 44 % in European countries outside Germany and the remainder in America, Asia and Australia. Customers of SURTECO generally come from the wood based materials, flooring and furnishing industry and the interior industry. The shares of SURTECO 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, Stuttgart Hamburg and Hannover.Cautionary note regarding forward-looking statements

This press release contains 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 does not intend to - and assumes no obligation - to update any forward looking statements contained herein or to adapt such information to future results or developments.

24.03.2017 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 SE Johan-Viktor-Bausch-Str. 2 86647 Buttenwiesen-Pfaffenhofen

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   End of News DGAP News Service

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