Correction of a release from 25/03/2024, 17:30 CET/CEST - SURTECO GROUP SE: Preliminary result for the business year 2023

SURTECO GROUP SE: Preliminary result for the business year 2023

• Consolidated net sales achieves € 835.1 million
• EBITDA at € 66.6 million, adjusted EBITDA at € 86.4 million

Buttenwiesen, 25 March 2024 – SURTECO GROUP SE has generated Group sales amounting to € 835.1 million according to unaudited preliminary figures presented. On the back of the additional sales derived from the acquired divisions of Omnova on 1 March 2023, this value is above the year-earlier sales of € 747.7 million. However, owing to the difficult framework conditions and the resulting weak demand, actual sales fell short of the original sales target of € 920 million to € 950 million. Provisional earnings before financial result, income tax and depreciation and amortization (EBITDA) amount to € 66.6 million (2022: € 84.2 million). Less one-off exceptional effects such as acquisition and integration costs, consultancy costs, provisions for personnel measures and PPA step-up inventories, adjusted EBITDA amounts to € 86.4 million after € 84.2 million in the previous year. The provisional earnings before financial result and income tax (EBIT) amount to € 8.1 million (2022: € 40.2 million) and lie within the adjusted earnings forecast given in October 2023. EBIT adjusted by extraordinary one-off expenses amounts to € 37.4 million (2022: € 40.2 million).

“In the business year 2023, firstly the framework conditions were very unfavourable, and secondly we had to absorb extraordinary one-off expenses associated with the integration of the Omnova divisions and with measures relating to structural improvements. As a consequence, we are once again fully on course owing to complete integration of Omnova and an economy that will hopefully soon take off again,” commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.

The Annual Report for 2023 will be published on 24 April 2024.

Profile of SURTECO

SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized enterprise listed on the stock exchange with international operations. The company combines leading national and international brands for surface technology under one roof. Its comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edge bandings 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 3,500 employees at 24 production sites worldwide, generating annual sales of around € 835 million. 20 % of these sales are in Germany, 39 % in European countries outside Germany and a further 41 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from wood-based, flooring and furniture industries, as well as from interior design.

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

The shares in SURTECO GROUP 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.

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