GERMANY - Surteco SE – one of the world’s leading manufacturers of decorative surface materials – got off to a strong start in the business year 2015. Sales increased by 3.7 % to EUR 166.0 million (Q1 2014: EUR 160.1 million) in the first quarter.

Both Strategic Business Units contributed to this positive development: Sales in the Strategic Business Unit Plastics increased by 8 % while sales in the Strategic Business Unit Paper grew by 1 %. Additional costs associated with integration arising from the merger of printing activities exerted a negative impact on earnings during the quarter under review.

The operating result (EBITDA) at EUR 18.9 million therefore fell short of the comparable figure for the previous year of EUR 21.8 million. However, the financial result improved significantly on the back of currency gains, and earnings before tax posted an increase of 26% at EUR 12.1 million (Q1-2014: EUR 9.6 million). Against the background of this development, the company is confident of achieving the defined objectives for 2015 over the course of the year.

“Following the integration of Süddekor, Surteco is extremely well positioned for the future. The concentration of decorative printing activities in Buttenwiesen is also proceeding according to plan. In view of the upbeat economic forecasts, we are therefore confident of being able to increase sales and earnings once again in 2015,” commented Chairman of the Board of Management of Surteco SE, Friedhelm Päfgen.

Surteco Results January-March 1Q

Million EUR