Ad-hoc | 5 June 2002 07:38

SURTECO AG english

Report for the 1st Quarter 2002 (1 January – 31 March 2002) Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Weak domestic markets impact negatively on SURTECO AG – Foreign sales increased Buttenwiesen-Pfaffenhofen. – SURTECO AG has drawn up financial statements for the first quarter of the current business year under IAS rules for the first time. The Group acquired an interest of 75.16 percent in Döllken & Co. GmbH in August 2001 and purchased the remaining shares in January 2002. Sales of the fully consolidated group amounted to 96.1 million euros during the period under review, 97 percent above the comparable value for 2001. EBITDA went up to 19.4 million euros, 82 percent above the value for 2001 restated under IAS rules. Despite extraordinary earnings amounting to 1.7 million euros in 2001, SURTECO AG succeeded in increasing consolidated earnings for the first quarter of 2002 to 6.0 million euros, 7 percent up over the comparable months for the previous year. SURTECO AG has created two Strategic Business Units: Paper primarily supplies the furnishing industry with decorative surface foils and edging strips, while Plastics includes plastic edgings for the furnishing industry and technical profiles for a wide range of applications. SURTECO is one of the leading international players in the sector. SURTECO AG posted sales of 47.1 million euros in the Strategic Business Unit Paper during the first three months of 2002, 4 percent less than in the first three months of the previous year. Sales revenues for Plastics fell back by almost the same order of magnitude (minus 5 percent) to 49.3 million euros. This development is due to the weak domestic economy in both areas. Individual foreign markets posted an increase of 4 percent in the Strategic Business Unit Paper by comparison with the quarter for the previous year, but they were unable to compensate for declining sales in the domestic market. The current development in North America was encouraging as the markets supplied by SURTECO showed signs of recovery. Sales in Paper rose by 28 percent during the first three months. SURTECO AG employs a workforce of around 2,100 people and anticipates consolidated sales of approximately 380 million euros in fiscal 2002 (2001: partially consolidated from August 270.6 million euros). 05.06.2002 end of ad-hoc-announcement (c)DGAP 05.06.2002 ——————————————————————————– WKN: 517 690; ISIN: DE0005176903; Index: Listed: Amtlicher Handel in Frankfurt (SMAX), München; Freiverkehr in Berlin, Bremen, Hamburg, Stuttgart 050738 Jun 02