GERMANY -  Surteco SE, one of the world’s leading manufacturers of decorative surface materials and producer of technical extrusions (profiles) made a sound start to the business year 2017 in line with expectations. 

In spite of price increases on the raw materials side, productivity increases arising from successful completion of concentration for the German decorative printing locations in the third quarter of 2016 led to a 3.7% improvement in EBITDA in the first quarter of 2017 to € 19.6 million (Q1-2016: € 18.9 million).

The sales development reveals a different picture in the two Strategic Business Units. While sales in the plastics segment increased by 15 % to € 72.7 million (Q1-2016: € 63.4 million) as a result of acquisition and organic growth.The restrained demand also evident in the first quarter and discontinuation of low-margin activities in the paper segment resulted in a drop in sales of 9 % to € 97.0 million (Q1-2016: € 106.8 million).

The company is currently assuming slightly increased sales for the Group in the business year 2017. This projection is based on an expected upturn in sales for the paper segment in the second half of the year coupled with substantial growth in sales for the plastics segment driven by the Nenplas acquisition and organic growth

Surteco Results January - March 1Q

Million EUR