GERMANY – In the first nine months of 2024 (9M-2024), the Surteco Group’s sales revenues increased by 4% to EUR 662.2 million, compared to EUR 637.3 million in 9M-2023.

This growth was primarily driven by the consolidation of the acquired Omnova divisions for nine months this year, compared to seven months in the previous year. Adjusting for these sales, the Group experienced a slight decline of 1% due to ongoing weak demand.

Sales in Germany dropped by 4%, while the rest of Europe (excluding Germany) saw a decline of 3%. However, in North and South America, sales rose by 19% thanks to the Omnova acquisition. Asia, Australia, and other markets also recorded a 1% increase in sales compared to the previous year.

Despite challenging market conditions, the Group’s sales for the first nine months of 2024 were EUR 662.2 million. Improved expense ratios contributed to a 20% rise in adjusted EBITDA, totaling EUR 76.8 million. The net profit for this period was EUR 7.8 million, a recovery from a loss of EUR 13.3 million last year. Demand remains subdued, and sales are expected to be between EUR 860 million and EUR 880 million for the year, with adjusted EBITDA projected between EUR 85 million and EUR 95 million.

Surteco is among the world’s leading suppliers of all forms of decorative surface finishes made of paper and plastics.