Corporate | 29 March 2018 07:30
SURTECO SE: Year-end figures for 2017 achieved, confident for new business year
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DGAP-News: SURTECO SE / Key word(s): Preliminary Results
SURTECO SE: Year-end figures for 2017 achieved, confident for new business year – Consolidated sales significantly increased in 2017at EUR 690 million (+8%) as a result of acquisitions – EBIT at EUR 44.7 million up by +9% compared with previous year – Additional sales and earnings increase expected for 2018 – Dividend payout of EUR 0.80 proposed Buttenwiesen, 29 March 2018 – SURTECO SE – the world’s leading manufacturer of surface materials for the furniture and wood-based industry and producer of technical extrusions (profiles) – has succeeded in fully achieving the year-end figures for the business year 2017 according to provisional, as yet unaudited indicators. According to these figures, consolidated sales climbed by around 8% to EUR 689.7 million (2016: EUR 639.8 million). The main part of the rise was based on first-time full consolidation of the British Nenplas Group acquired at the end of 2016 and the Portuguese Probos Group consolidated from July 2017. Earnings before financial result and income tax (EBIT) at EUR 44.7 million were 9% above the year-earlier value of EUR 40.9 million in spite of increases in the cost of raw materials that were in some cases very considerable. They are therefore situated in the target corridor communicated of EUR 42 to 46 million. The two Strategic Business Units Paper and Plastics contributed to this positive development in earnings. Substantial negative exchange rate effects resulted in the pre-tax result (EBT) amounting to EUR 33.5 million, falling short of the level attained in 2016 (EUR 35.0 million). Once again this year, SURTECO is keen to enable its shareholders to participate in the success of the company. The Board of Management and the Supervisory Board will therefore be proposing to the Annual General Meeting on 28 June in Munich that a stable dividend of EUR 0.80 per share should be paid out in spite of a lower pre-tax result related to exchange rates. “In 2017, SURTECO achieved its year-end targets on the back of significantly increased sales owing to acquisitions and a gratifying increase in earnings. Thanks to the acquisition of Probos, we are also better positioned in markets than ever before on both the product side and regionally. As a result of this performance and in view of the positive economic expectations, we continue to have substantial opportunities to grow sales and earnings in 2018, stated Dr. Herbert Müller, Chairman of the Board of Management of SURTECO SE, commenting on the development. Positive outlook despite challenges in the raw materials market Given a positive economic environment and thanks to all-year consolidation of the Probos Group, the SURTECO Board of Management expects a further significant increase in sales. Earnings are also projected to post continuous growth in spite of a sustained high level of costs for raw materials. The publication of the annual financial statements and the Annual Report for the year 2017 is planned for 27 April 2018. You will find more information about SURTECO SE on the Internet at www.ir.surteco.com.
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Profile of SURTECO
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.
29.03.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| 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: | ir@surteco.com |
| Internet: | www.surteco.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 |
| End of News | DGAP News Service |