Surteco SE

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SURTECO

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DGAP-News: SURTECO SE: SURTECO presents Strategy 2025+ at the Annual General Meeting

DGAP-News: SURTECO SE / Key word(s): AGM/EGM

28.06.2018 / 13:30
The issuer is solely responsible for the content of this announcement.


SURTECO presents Strategy 2025+ at the Annual General Meeting

- Strategy with stronger focus on customer requirements, innovative force and ongoing external growth

- Annual General Meeting agrees to all agenda items with large majority. Dividend of EUR 0.80 per share

 

Munich, 28 June 2018 - At today's Annual General Meeting in Munich,
SURTECO SE presented its new Growth Strategy 2025+ to the shareholders present at the meeting. The Strategy is based on the following three central pillars: a stronger focus on customer needs as a result of improved positioning in the market and with respect to competition, significant intensification of research and development for new products, and ongoing external growth. The organizational structure of the Group will also be streamlined in this connection and this will make it more flexible and more efficient. As a result, SURTECO is likely to achieve a sustainable and significant increase in business volume. This will exert positive impacts on corporate value.

After a good start to the business year 2018, the company continues to expect sales revenues of EUR 725 to 750 million and earnings (EBIT) of EUR 49 to 53 million for the full year, but challenges have been increasing for some weeks now. For example, the growth forecasts for Germany were reduced, which may also affect the sectors relevant to SURTECO. It can no longer be ruled out that political tensions will have negative impacts on global trade.

After the end of the first quarter, SURTECO had a very healthy balance sheet structure. In spite of the comprehensive acquisition activity, the equity ratio on 31 March 2018 was a robust 40.9 % and the gearing (level of debt) was 59 %.

 

All agenda items at the AGM approved with a large majority

The shareholders present at the Annual General Meeting approved all agenda items with a large majority. This also included the payout of an unchanged dividend of EUR 0.80 compared with the previous year. The payout ratio of 47 % of the consolidated net profit is therefore within the scope of the internal target of around 50 %. Based on the current share price, this corresponds to a dividend return of around 3.0 %.

More information on SURTECO SE and on the Annual General Meeting of the company including the voting results is available on the Internet at www.ir.surteco.com.

 

Contact:

SURTECO SE  
Martin Miller
Investor Relations and Press Office
+49 (0) 8274/99 88-508
 
Internet www.ir.surteco.de
Email: ir@SURTECO.com
Fax: + 49 (0) 8274/99 88-515
 
 

 

Profile of SURTECO

SURTECO SE with registered office in Buttenwiesen-Pfaffenhofen is a mid-sized holding company with international operations. The company listed on the stock exchange combines leading national and international brands for surface technology under one roof. The comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edgebandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems.
The Group has a workforce of more than 3,300 employees at 23 production sites worldwide, generating annual sales of around EUR 690 million (status 2017). 25% of these sales are generated in Germany, 46% in European countries outside Germany and a further 29% in America, Asia and Australia. Customers of the SURTECO Group primarily come from the wood-based, flooring and furniture industries, as well as from interior design.

More information on the company is available at: www.ir.surteco.com

The shares in 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 and Stuttgart.

Cautionary note regarding forward-looking statements

This press release may contain 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 assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments.



28.06.2018 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.

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