GERMANY - In the business year 2022, sales at EUR 747.7 million (2021: EUR 757.1 million) in the Surteco Group were within the expected range.

Owing to the enduring high cost of materials, which could only be passed on in part and with a time lag, the Group generated EBIT of EUR 40.2 million (2021: EUR 72.5 million) in the business year 2022. Consolidated net profit fell by 47 % to EUR 25.2 million.

“We started the year 2022 quite respectably but we were unable to avoid the declining demand owing to the difficult economic framework conditions in our sector. The ongoing consistent roll-out of our strategy, which involved the acquisition of Omnova, will enable us to effectively counteract the persistent challenges confronting us,” commented Wolfgang Moyses, Chairman of the Management Board of Surteco Group SE.

Starting in the business year 2023, controlling for the Group will take place within the framework of strategy implementation through the new segments “Surfaces”, “Edgebands” and “Profiles”, and through the regional segments “North America” and “Asia/Pacific”. This will align the organizational structure more effectively with it's markets and customers.

On 28 February 2023, the company closed the acquisition of the divisions “laminates and performance films and coated fabrics” from Omnova. These sites in the USA and Thailand have now been contributing to the business of the Surteco Group with laminates, foils and vinyl-coated materials since March 2023. Owing to the economic uncertainties due to the war in Ukraine and the high level of inflation, restrained demand is anticipated at least until the middle of 2023. Bearing this in mind, Surteco anticipates sales within the corridor from EUR 920 to EUR 950 million for the business year 2023 overall and Group EBIT in the range EUR 45 to EUR 55 million.