15.05.2015
SURTECO SE DE0005176903
DGAP-News: SURTECO SE: SURTECO gets off to a strong start in the business year 2015
DGAP-News: SURTECO SE / Key word(s): Quarter Results
SURTECO SE: SURTECO gets off to a strong start in the business year
2015
15.05.2015 / 08:00
---------------------------------------------------------------------
Press Release
SURTECO gets off to a strong start in the business year 2015
- Group sales increase by 4 % to EUR 166.0 million in the first quarter
- EBITDA down to EUR 18.9 million - earnings before tax increase by 26 %
to EUR 12.1 million
- Free cash flow increases to EUR 19.7 million
- Outlook for 2015 confirmed: Organic growth in both Strategic Business
Units
Buttenwiesen-Pfaffenhofen, 15 May 2015 - SURTECO SE - one of the world's
leading manufacturers of decorative surface materials - got off to a strong
start in the business year 2015. Sales increased by 4 % to EUR 166.0
million (Q1 2014: EUR 160.1 million) in the first quarter. Both Strategic
Business Units contributed to this positive development: Sales in the
Strategic Business Unit Plastics increased by 8 % while sales in the
Strategic Business Unit Paper grew by 1 %. Additional costs associated with
integration arising from the merger of printing activities exerted a
negative impact on earnings during the quarter under review. The operating
result (EBITDA) at EUR 18.9 million therefore fell short of the comparable
figure for the previous year of EUR 21.8 million. However, the financial
result improved significantly on the back of currency gains, and earnings
before tax posted an increase of 26 % at EUR 12.1 million EUR (Q1-2014: EUR
9.6 million). Earnings per share developed in a similar way with an
increase of EUR 0.43 to EUR 0.54. Against the background of this
development, the company is confident of achieving the defined objectives
for 2015 over the course of the year.
"Following the integration of Süddekor, SURTECO is extremely well
positioned for the future. The concentration of decorative printing
activities in Buttenwiesen is also proceeding according to plan. In view of
the upbeat economic forecasts, we are therefore confident of being able to
increase sales and earnings once again in 2015," commented Chairman of the
Board of Management of SURTECO SE Friedhelm Päfgen.
Level of debt further reduced, gearing at 40%
Free cash flow leapt from EUR 6.7 million to EUR 19.7 million during the
first quarter, and cash and cash equivalents rose from EUR 43.1 million at
year-end 2014 to EUR 62.0 million on 31 March 2015. Accordingly, the level
of net financial debt decreased significantly to EUR 133.9 million
(31/12/2014: EUR 145.8 million) and gearing (net financial debt/equity)
fell from 45 % to 40 %. On the basis of these figures and an equity ratio
of 49.3 % (31/12/2014: 50.4 %), SURTECO therefore has an extremely robust
balance sheet structure.
Outlook for 2015 confirmed: Organic growth in both segments - Adjusted
earnings before tax should increase slightly
Following on from the results of the first quarter, the forecast for the
entire year 2015 in the current Annual Report can be confirmed. The company
is anticipating a modestly positive development in the global economy. This
is expected to lead to a slight increase in sales revenues in the two
Strategic Business Units.
The SURTECO Group expects a slight increase in the pretax result for the
business year 2015, compared with the business year 2014, which has been
adjusted by restructuring expenses (EUR 9.4 million).
You can find the Report for the first quarter 2015 and other information
about SURTECO SE on the Internet at www.surteco.com.
Important indicators of SURTECO SE
(in EUR million)
Q1-2014 Q1-2015 Variation Consolidated sales 160.1 166.0 +4% - of which paper 102.4 103.7 +1% - of which plastics 57.7 62.3 +8% Foreign sales in % 70 71 EBITDA 21.8 18.9 -13% EBITDA margin in % 13.6 11.4 EBIT 12.1 10.3 -15% EBT 9.6 12.1 +26% Consolidated net profit 6.7 8.4 +26% Earnings per share in EUR 1 0.43 0.54 +26% Cash flow from current business operations 9.9 17.8 +80% Free Cash flow 6.7 19.7 +194% 31/12/2014 31/03/2015 Balance sheet total 636.7 683.5 Equity 321.1 336.9 Net debt 145.8 133.9 Gearing (level of debt) in % 2 45 40 Equity ratio in % 50.4 49.3 Employees 2,705 2,735(1) Based on an number of shares amounting to 15,505,731 (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, 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 29 % 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. 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--------------------------------------------------------------------- 15.05.2015 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 --------------------------------------------------------------------- 356769 15.05.2015
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
SURTECO SE ISIN: DE0005176903 können Sie bei EQS abrufen
Oberflächen/Verpackung , 517690 , SUR , XETR:SUR