GERMANY - Business performance of Surteco SE, one of the world's leading manufacturers of decorative surface materials and producer of technical extrusions (profiles), was defined by very varied developments in the company's two business segments – Paper and Plastics - during the first half year of 2017.

Sales revenues of the Paper Business Unit at € 188.1 million were 10% below the value of € 209.0 million for the previous year. Aside from the North and South American continent (+2%), this drop was distributed across all the country groups. Hence sales in domestic business came down by 12%, in the rest of Europe by 13%, and in the Asia-Pacific region (proportion of sales 2%) by 22%.

During the months of January to June 2017 sales at the Plastics Business Unit rose by 13% to €145.9 million (6M-2016: € 128.7 million). Acquisition of the British Nenplas Group in December 2016 and organic growth contributed to this progress.

Sales in the German domestic business rose by 4% and in the rest of Europe by 27%, essentially driven by the Nenplas acquisition. Business in North and South America grew by 8% and business in Asia by 3%. Australia once again posted double-digit growth of 11%.

“While the plastics line fulfilled expectations in the first half year, we are not satisfied with development in the paper segment. Thanks to the improvements in efficiency already achieved and the Probos takeover, we are affirming our forecast of an EBIT target of between €42 and €46 million for 2017,” according to Dr. Herbert Müller, Chairman of the Board of Management of Surteco SE.

January - June