GERMANY - Surteco SE – one of the world’s leading manufacturers of decorative surface materials – started the year 2016 with result in line with expectations.

Accordingly, consolidated sales increased by 3 % as a result of improvements in the two Strategic Business Units – Plastics and Paper -to € 170.2 million (Q1-2015: € 166.0 million) during the first quarter of 2016. Earnings before financial result, income tax, and depreciation and amortization (EBITDA) were unchanged at € 18.9 million on account of higher costs of materials.

“As expected, Surteco made a respectable start to the business year 2016 with a further increase in sales. Since the synergies from the largely completed integration of the Süddekor Group will become increasingly tangible as the year progresses, we continue to maintain our confident forecast for the year overall. We want to improve EBIT by more than 20 % to between € 38 and € 42 million,” according to the Chairman of the Board of Management of Surteco SE Dr. Herbert Müller.

Surteco SE is the holding company for a group of mutually complementary companies in the field of surface technology. The product portfolio of the Surteco Group comprises edgebandings and finish foils based on paper and plastics, decorative printings, impregnates and release papers for the international wood-based, flooring and furniture industry. The product range is completed by skirtings made of Plastics, roller shutter systems and technical extrusions (profiles) for various industries.

Surteco Results January – March 1Q

Million EUR