29.11.2013 SURTECO SE  DE0005176903

DGAP-News: SURTECO SE: Robust result in a difficult market environment


 
DGAP-News: SURTECO SE / Key word(s): 9-month figures SURTECO SE: Robust result in a difficult market environment 29.11.2013 / 07:48 --------------------------------------------------------------------- Press Release Robust result in a difficult market environment - Drop in sales by 5 % after nine months at 297.1 million euros - EBITDA at the year-earlier level - EBITDA margin rises to 13.6 % - Capital increase for takeover of Süddekor successfully completed - free float increases to 45.35 % Buttenwiesen-Pfaffenhofen, 29 November 2013 - After the first nine months of the business year 2013, SURTECO SE - one of the world's leading manufacturers of decorative surface finishes - has continued to achieve a robust performance against the background of a difficult sector environment, although consolidated sales at 297.1 million euros were 5 % below the equivalent year-earlier level (313.0 million euros). However, a slight easing of pressure at the procurement end and successes from the efficiency programmes implemented recently meant that earnings before interest, tax, depreciation and amortization (EBITDA) were maintained at a stable level with 40.5 million euros (nine months 2012: 41.0 million euros). The EBITDA margin was increased from 13.1 % to 13.6 %. A slightly deteriorated financial result and a higher tax rate led to a consolidated net profit of 12.4 million euros (nine months 2012: 13.1 million euros). 'SURTECO has achieved a robust performance in a difficult market environment. As a result of the acquisition of Süddekor, we see good potential for achieving the profitable growth over the long term that we have projected,' commented the Chairman of the Board of Management of SURTECO SE Friedhelm Päfgen. High quality of the balance sheet remains unchanged Against the background of a slightly increased balance sheet total compared with year-end 2012, SURTECO has a stable equity ratio of 47.9 %. The net financial debt rose by 1.4 million euros to 103.2 million euros on account of higher investments. Despite the significant increase in net assets and liabilities, free cash flow continued to remain positive at 11.6 million euros (nine month 2012: 19.7 million euros). Capital increase for the takeover of Süddekor is successful As already communicated on 15 November 2013, SURTECO achieved gross issue proceeds amounting to some 80 million euros by the placement of around 4.4 million new shares. These proceeds are being used for the takeover of the Süddekor Group. After the German Federal Antitrust Office approved the transaction on 25 November 2013, the transaction is due to be closed on 2 December 2013. After the capital measure, the free float increased from 22.6 % to 45.35 %. This has significantly increased the chances of SURTECO being listed in the German SDAX Small Cap Index as desired by the company. Outlook for the entire year confirmed Although the global economic development is assessed differently in the individual countries, a slight improvement in sentiment has been evident since September. In Germany and Europe - the most important markets for the SURTECO Group - the company is, however, not expecting any fundamental upturn in the economy by year-end 2013. Business operations in the company are traditionally rather muted at the end of the year. SURTECO (without Süddekor) anticipates sales of less than 400 million euros for the business year 2013. Apart from the lower sales volume, the costs incurred in conjunction with the acquisition of the Süddekor companies are also impacting negatively on the result. The bottom line is that earnings before tax will therefore not reach the level of the previous year. You can find the report for the first nine months of 2013 and other information about SURTECO SE on the Internet by going to www.surteco.com. Important indicators of SURTECO SE (in EUR million)

                                                    9M-2012         9M-2013
Sales revenues                                        313.0           297.1
- of which SBU Paper                                  131.3           121.9
- of which SBU Plastics                               183.0           176.9
Foreign sales in %                                     68.3            69.3
EBITDA                                                 41.0            40.5
EBITDA margin in %                                     13.1            13.6
EBIT                                                   24.2            24.7
EBT                                                    18.1            17.9
Consolidated net profit                                13.1            12.4
Earnings per share in EUR 1                            1.19            1.12
Cash flow from current business operations             33.8            29.2
Free cash flow                                         19.7            11.6



                                          31/12/2012            30/09/2013
Balance sheet total                            467.3                 472.0
Equity                                         223.2                 226.1
Net debt                                       101.8                 103.2
Gearing (level of debt) in % 2                    46                    46
Equity ration in %                              47.8                  47.9
Employees                                      1,967                 1,984


(1) Based on an unchanged number of shares on 30 September 2013 amounting to 11,075,522 (2) Net debt / Equity Profile of SURTECO SURTECO SE, Buttenwiesen-Pfaffenhofen, is a leading international specialist for surface technologies. The product portfolio includes papers printed with decorative designs, 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, do-it-yourself ranges and shutter and cladding systems. The Group currently has a workforce of appr. 2,000 and manufactures at 15 sites on four continents, currently generating approximately 31 % of sales in Germany, 43 % in European countries outside Germany and the remainder in America, Asia and Australia. Customers of SURTECO generally come from the furnishing industry and the construction sector. The shares of the company 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/Bremen, Düsseldorf and Stuttgart. 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. Contact:

SURTECO SE

Andreas Riedl                           Martin Miller
Chief Financial Officer                 Investor Relations and Press Office
+ 49 (0) 8274/99 88-563                 + 49 (0) 8274/99 88-508


Internet www.surteco.com
Email [email protected]
Fax    + 49 (0) 8274/99 88-515



End of Corporate News --------------------------------------------------------------------- 29.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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: [email protected] Internet: www.surteco.com ISIN: DE0005176903 WKN: 517 690 Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 242281 29.11.2013


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 689,65 698,98 675,27 626,99 757,06 747,70 835,10
EBITDA1,2 83,09 72,78 66,29 88,32 114,76 84,18 66,60
EBITDA-Marge3 12,05 10,41 9,82 14,09 15,16 11,26
EBIT1,4 44,67 32,20 21,12 46,15 72,52 40,18 8,10
EBIT-Marge5 6,48 4,61 3,13 7,36 9,58 5,37 0,97
Jahresüberschuss1 26,33 18,93 9,76 33,77 47,81 25,23 2,95
Netto-Marge6 3,82 2,71 1,45 5,39 6,32 3,37 0,35
Cashflow1,7 82,90 60,70 84,04 82,66 43,75 69,14 0,00
Ergebnis je Aktie8 1,69 1,20 0,61 2,17 3,08 1,63 0,19
Dividende8 0,80 0,55 0,00 0,80 1,00 0,70 0,80
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Surteco Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
517690 15,200 Kaufen 235,69
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,26 17,48 0,66 10,71
KBV KCV KUV EV/EBITDA
0,57 3,41 0,28 5,98
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,70 0,00 0,00 07.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.04.2024 31.07.2024 27.10.2023 24.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
2,41% -4,88% -6,17% -25,49%
    
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