Press Release
SURTECO SE : Focus on further growth
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Renewed organic growth expected for 2016, EBIT is projected to increase to EUR 38-42 million
Dividend raised to EUR 0.80 for 2015
Robust start in the business year 2016
Munich, 30 June 2016 - The Chairman of the Board of Management of SURTECO SE - one of the world's leading manufacturers of decorative surface materials - confirmed the forecast for the year overall in 2016 to the shareholders of the company at the Annual General Meeting held today. After it succeeded in increasing consolidated sales from EUR 618.5 million to EUR 638.4 million in 2015, the Board of Management once again anticipates a further increase in sales in 2016. Earnings Before Financial Result and Income Tax (EBIT) look set to rise significantly from EUR 31 million to a value between EUR 38 million and EUR 42 million on the back of rising profitability and significantly lower one-off negative impacts from Süddekor integration. At the end of the 1st quarter, SURTECO posted sales revenues amounting to EUR 170.2 million and EBIT of EUR 10.4 million after a robust start to the business year 2016. The Board of Management was also able to substantiate the outstanding quality of the company's balance sheet with an equity ratio of 50.9 %, gearing (ratio of net financial debt to equity) of 35% and liquid funds amounting to EUR 69.6 million.
All agenda items approved with a large majority - dividend increased to EUR 0.80
All administrative resolution proposals were approved by a large majority of the shareholders present. These also encompassed a further increase in dividend payment from EUR 0.70 per share in the previous year to EUR 0.80 per share. |
You will find additional information on SURTECO SE and on the Annual General Meeting of the company including voting results on the Internet at www.surteco.com.
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 papers, 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.
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 |
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Andreas Riedl
Chief Financial Officer
+ 49 (0) 8274/99 88-563 |
Martin Miller
Investor Relations and Press Office
+ 49 (0) 8274/99 88-508 |
Internet www.surteco.com
Email ir@SURTECO.com
Fax + 49 (0) 8274/99 88-515 |
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2016-06-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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