PRESS RELEASE: SURTECO SE: Robust result in a difficult market environment
DGAP-News: SURTECO SE / Key word(s): 9-month figures SURTECO SE: Robust result in a difficult market environment
29.11.2013 / 07:48
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Press Release
Robust result in a difficult market environment
- Drop in sales by 5 % after nine months at 297.1 million euros
- EBITDA at the year-earlier level - EBITDA margin rises to 13.6 %
- Capital increase for takeover of Sddekor successfully completed - free float increases to 45.35 %
Buttenwiesen-Pfaffenhofen, 29 November 2013 - After the first nine months of the business year 2013, SURTECO SE - one of the world's leading manufacturers of decorative surface finishes - has continued to achieve a robust performance against the background of a difficult sector environment, although consolidated sales at 297.1 million euros were 5 % below the equivalent year-earlier level (313.0 million euros). However, a slight easing of pressure at the procurement end and successes from the efficiency programmes implemented recently meant that earnings before interest, tax, depreciation and amortization (EBITDA) were maintained at a stable level with 40.5 million euros (nine months 2012: 41.0 million euros). The EBITDA margin was increased from 13.1 % to 13.6 %. A slightly deteriorated financial result and a higher tax rate led to a consolidated net profit of 12.4 million euros (nine months 2012: 13.1 million euros).
'SURTECO has achieved a robust performance in a difficult market environment. As a result of the acquisition of Sddekor, we see good potential for achieving the profitable growth over the long term that we have projected,' commented the Chairman of the Board of Management of SURTECO SE Friedhelm Pfgen.
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PRESS RELEASE: SURTECO SE: Robust result in a difficult market environment