19.03.2015
SURTECO SE DE0005176903
DGAP-News: SURTECO achieves targets for the year while comparable operating profit increases by 56 %
DGAP-News: SURTECO SE / Key word(s): Preliminary Results
SURTECO achieves targets for the year while comparable operating
profit increases by 56 %
19.03.2015 / 09:06
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Press Release
SURTECO achieves targets for the year while comparable operating profit
increases by 56 %
- Consolidated sales in the business year 2014 at EUR 618.3 million are
54 % up on previous year
- EBITDA increases by 5 % to EUR 62.8 million in spite of restructuring
expenses in 2014 and a positive one-off effect in 2013
- Confidence for 2015 thanks to operating improvements and synergy
effects arising from Süddekor integration
Buttenwiesen-Pfaffenhofen, 19 March 2015 - SURTECO SE - one of the world's
leading manufacturers of decorative surface materials - succeeded in
achieving the planned targets for the year in the course of the business
year 2014. According to provisional unaudited figures, the Group posted
sales of EUR 618.3 million (2013: EUR 402.4 million) amounting to an
increase of 54 %. This rise was essentially due to the first-time full
consolidation of the Süddekor companies, which were taken over at the end
of 2013.
Earnings before Interest, Tax and Depreciation and Amortization (EBITDA)
reported a five-percent increase at EUR 62.8 million compared with the
figure of EUR 59.7 million reported for the previous year. In this context,
it should however be taken into account that in 2013 a non-operating,
positive contribution to earnings of EUR 13.5 million was included in
reporting as a result of the Süddekor acquisition. In the year under review
2014, a provision amounting to EUR 9.4 million was recognised for upcoming
restructuring at the decorative printing division in 2015. Adjusted by
these one-off effects, an improvement in EBITDA of 56 % was achieved. EBIT
amounted to EUR 27.5 million (2013: EUR 37.1 million) and although EBT at
EUR 22.2 million (2013: EUR 28.1 million) was below the values for the
previous year, once an adjustment is made for the one-off effects described
above, significant growth rates were also achieved here.
"SURTECO succeeded in achieving its targets in 2014. Sales and comparable
operating profit therefore increased by more than 50 %. We are confident
that the integration of Süddekor will continue to proceed according to plan
in 2015," commented the Chairman of the Board of Management of SURTECO SE
Friedhelm Päfgen.
Confidence for the business year 2015 particularly in relation to earnings
The detailed outlook for the business year 2015 will be presented together
with the audited annual financial statements and the management report for
the year 2014 at the Financial Press Conference in Frankfurt on 30 April
2015. Provided that the economy continues to develop robustly and further
integration of Süddekor proceeds according to plan, SURTECO is confident
that modest operating improvements and increasing synergy effects will be
achieved from the Süddekor integration, which will for the most part exert
a positive impact on earnings.
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 paers,
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. 2,700 and manufactures at 20
sites on four continents, currently generating approximately 30 % of sales
in Germany, 45 % 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 and Stuttgart. The stock is listed on the SDAX of Deutsche
Börse.
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--------------------------------------------------------------------- 19.03.2015 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. 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 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 334927 19.03.2015
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