SURTECO GROUP SE
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
2021-07-30 / 07:00
The issuer is solely responsible for the content of this announcement.
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SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021
- Group sales increase by 27 % to EUR 377.9 million
- EBIT at EUR 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 EUR 700 million and EBIT above EUR 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 EUR 189.4 million. Overall, Group sales in the first half year of 2021 increased by 27 % to
EUR 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 EUR 38.9 million were 170 % above the year-earlier value of
EUR 14.4 million and also significantly above the pre-crisis level. Consolidated net profit rose by 165 % to EUR 25.7
million (2020: EUR 9.7 million). Consequently, the company is now expecting sales above EUR 700 million for 2021 as a whole
(previous target: EUR 650 to 675 million) and EBIT above EUR 52 million (previously: EUR 47 to 52 million).
The improvements were generated from all segments of the Group. Decoratives, the Group's biggest segment, increased
sales from EUR 214.6 million in the previous year to EUR 274.5 million in the first half year of 2021. EBIT improved by 220
% to the current level of EUR 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 EUR 67.3 million and EBIT went up by 29 % to EUR
6.6 million. Technicals achieved sales of EUR 36.2 million (2020: EUR 32.9 million). EBIT rose by 78 % to EUR 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 EUR 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 EUR ^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. -----------------------------------------------------------------------------------------------------------------------
2021-07-30 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
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July 30, 2021 01:00 ET (05:00 GMT)
