SURTECO SE / Key word(s): Half Year Results/Change in Forecast
05.08.2015 10:14
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc Release pursuant to Article 15 Securities Trading Act (WpHG)
SURTECO confirms sales outlook - earnings target adjusted due to additional
costs for relocation activities
Buttenwiesen-Pfaffenhofen, 5 August 2015 - SURTECO SE - one of the leading
global manufacturers of decorative surface materials - succeeded in
improving consolidated sales within the projected framework by 4% to EUR
327.2 million (1st half year 2014: EUR 315.3 million) during the 1st half
year of 2015. Both Strategic Business Units contributed to this positive
development. By contrast, earnings in the months of April to June were
impacted negatively by enhanced costs entailed by integration processes
including additional construction measures related to reorganization, and a
temporary surplus of personnel. These costs were incurred by relocation of
decorative printing to the Buttenwiesen site. The operating result (EBITDA)
at EUR 34.6 million was therefore below the comparable value of EUR 39.6
million for the equivalent year-earlier period. The same applies to the
pre-tax result, which achieved a value of EUR 16.8 million (1st half year
2014: EUR 17.8 million) after the first six months. Since higher costs are
also anticipated for relocation and the increasing prices of raw materials,
SURTECO is accordingly adjusting its outlook for earnings in the year
overall in spite of the countermeasures that have meanwhile been initiated.
SURTECO continues to forecast unchanged a slight increase in sales compared
with the previous year (2014: EUR 618.5 million). Conversely, the pre-tax
profit is not likely to be marginally above the year-earlier value after
adjustment for restructuring expenses (EUR 9.4 million) in line with
expectations. Rather, it is projected to be in the range below EUR 30
million. The value of EUR 22.3 million actually posted before adjustment in
2014 will therefore be significantly exceeded.
The report on the 1st half of the year 2015 will be published as announced
on 14 August 2015. You can find other information about SURTECO SE on the
Internet at www.surteco.com.
Contact:
SURTECO SE
Johan-Viktor-Bausch-Str. 2
D-86647 Buttenwiesen-Pfaffenhofen
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 ir@SURTECO.com
Fax + 49 (0) 8274/99 88-515
05.08.2015 The DGAP Distribution Services include Regulatory Announcements,
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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: 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
End of Announcement DGAP News-Service
