GERMANY - In the first quarter of 2024, Surteco Group's sales reached EUR 222.3 million, marking an 8.1% increase from the EUR 205.7 million reported in the same period last year.

This growth includes the contributions from Omnova's divisions, which were only part of the prior year's first quarter for one month. EBITDA saw a significant rise of 44.5%, climbing to EUR 27.6 million from EUR 19.1 million in 2023. This increase was primarily due to enhanced margins from the Performance Plus program and the lack of transaction costs associated with the Omnova acquisition. Additionally, consolidated net profit surged by 91.7%, reaching EUR 6.9 million, up from EUR 3.6 million in the previous year.

Business performance during the first quarter of 2024 is within the anticipated parameters. Consequently, the forecast in the Annual Report 2023 is confirmed. Group sales for the full year 2024 should therefore be in the range between EUR 860 million and EUR 910 million. Adjusted

EBITDA at year-end is expected to lie between EUR 85 million and EUR 105 million.

Surteco Group SE is a leading provider of paper and plastic-based surface materials. The company develops, designs, manufactures, and sells these products to a diverse range of furniture industries, as well as wood-board manufacturers.