GERMANY - The good business development of the Surteco Group in the second half of 2020 continued in the first quarter of 202. Sales of EUR 188.5 million in January to March 2021 were 10% above the year earlier value of EUR 171.6 million.
Domestic sales increased by 9.4% and sales in the rest of Europe (excluding Germany) went up by 6.9% compared to the first quarter 2020. Sales in North and South America rose by 14.8% and in Asia, Australia and other markets by 18.6%. The foreign sales ratio at 73% continues unchanged compared to the same period of last year.
EBITDA rose from EUR 23.9 million in the first quarter of 2020 to EUR 31.9 million in the first quarter of 2021 an increase of 33.5%. EBITDA margin improved by 3 percentage points from 13.9% in the first quarter 2020 to 16.9% in the first quarter 2021.
Surteco generated a consolidated profit of EUR 14.3 million in the first quarter 2021 compared to EUR 8.9 million in the same period of las year.
In spite of an expected easing in demand during the second half of the year and the ongoing lack of certainty in relation to the coronavirus situation, the company is anticipating an increase in sales to between € 650 and € 675 million for the year overall in 2021.
Surteco group SE with registered office in Buttenwiesen, Germany is a mid-sized company with international operations. The company listed on the stock exchange combines leading national and international brands for surface technology under one roof. The comprehensive product portfolio includes papers printed with decor designs, impregnated materials, and edgebandings among others based on specialist technical papers and plastics.
