GERMANY – Surteco Group, one of the world’s leading full-service providers of decorative surfaces, has reported preliminary sales of EUR 856.6 million for the year 2024, marking a 2,6% increase compared to the previous year’s figure of EUR 835.1 million.

This growth is attributed to the full consolidation of Omnova’s acquired divisions for the entire year, compared to only 10 months of consolidation in 2023. Despite weak demand across the company’s sectors, sales were only slightly below the targeted range of EUR 860 million to EUR 910 million.

In terms of earnings, the company met expectations. Provisional earnings before financial result, income tax, and depreciation and amortization (EBITDA) reached EUR 94.4 million, a significant increase from EUR 66.6 million in 2023. After accounting for one-off exceptional items such as acquisition and integration costs, consultancy fees, provisions for personnel measures, and PPA step-up inventories, adjusted EBITDA amounted to EUR 95.3 million, compared to EUR 86.4 million in the previous year. This figure falls within the company’s forecast range of EUR 85 million to EUR 105 million.

Provisional earnings before financial result and income tax (EBIT) surged by 325,9%, rising to EUR 34.5 million, compared to EUR 8.1 million in 2023.

Wolfgang Moyses, Chairman of the Management Board, commented, “Despite very challenging market conditions in 2024, particularly weak demand, our internal efforts enabled us to achieve a solid operating result. As a result, we are confident in our position to meet our long-term goals.”