GERMANY– Surteco SE – one of the world’s leading manufacturers of decorative surface materials – has posted a robust operating development after nine months of the business year 2016.
Although the Group had to overcome some difficult framework conditions, Group sales improved by € 7.0 million to € 490.9 million (2015: € 483.9 million). Growth in export sales exerted a noticeably positive impact. In view of the good utilization of capacities and significantly lower one-off expenses, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 12 % to € 55.6 million after nine months. EBIT rose by 28 % to € 30.6 million (nine months 2015: € 24.0 million). Consolidated profit increased by 18 % to € 16.8 million. Extraordinary currency gains in the financial result of the previous year proved an obstacle to an even bigger increase.
“Powered by further buoyant demand from abroad, we are entitled to be well satisfied after nine months. The growth in EBIT of more than 25 % achieved so far means that we are on course to meet our targets for the year,” commented Dr. Herbert Müller, Chairman of the Board of Management of Surteco SE.
Surteco Results July - September 3Q
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Source: Quarterly Report
Surteco Results January - September
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Source: Quarterly Report
