SURTECO SE / Final Results/Preliminary Results
17.03.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Buttenwiesen-Pfaffenhofen, 17 March 2008 SURTECO SE, leading
manufacturer of surface materials based on plastics and technical papers
for the international construction and furnishing industry, again increased
sales over the course of 2007 at 414.5 million. The increase by 3 % or
11.3 was primarily due to the contribution to sales made by Swedish plastic
foil manufacturer Gislaved Folie AB acquired in September 2007.
The difficult market conditions in North America triggered by the subprime
mortgage crisis and the associated turbulence on the international
financial markets also impacted on SURTECO SE during the second half of
2007. The decline in new building activity exerted a direct effect on the
subsidiary companies in the USA and Canada. Nevertheless, the Groups
foreign business advanced by 5 % to 269.6 million (2006: 257.6). The
foreign sales of the Group increased to 65 %. Domestic sales of SURTECO SE
stagnated at 144.9 at the level of the previous year.
In 2007, the strategic business unit plastics, responsible for the
manufacture and marketing of plastic edgebandings and a large number of
other high-quality plastic products generated sales amounting to 248.3
million (+7 %). This was achieved despite rationalization of the product
portfolio in the area of do-it-yourself goods held for resale, (minus 4.5
million) and the decline in sales of 6.4 million to 39.7 in the North
American business (of which 4.1 million due to currency).
Business in the USA was also problematic for the Strategic Business Unit
Paper and this was reflected in a drop in sales of 2.9 million to 12.5
million (of which 1.2 million was due to currency). An additional factor
was that this segment is experiencing more intensive competition in
individual regions due to the entry of new, local producers into the
market. Sales of the paper business line therefore fell short of the
year-earlier value by 3 % at 166.2 million.
Despite the negative impacts referred to, SURTECO was able to achieve a
record result. After submission of preliminary figures, the earnings
(operating result) before interest, income tax and depreciation and
amortization (EBITDA) at 74.4 million amounts to 4 % above the value for
the previous year ( 71.7). The profit after taxes was even improved by 10
% to 31.6 million. Earnings (net income) per share increased accordingly
from 2.60 to 2.85.
The main challenge during the course of the current year 2008 has been
first-time full consolidation of Gislaved Folie AB. Otherwise, the Board of
Management only anticipates slight organic growth.
DGAP 17.03.2008
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Language: English
Issuer: SURTECO SE
Johan-Viktor-Bausch-Str. 2
86647 Buttenwiesen-Pfaffenhofen
Deutschland
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: g.schneller@surteco.com
Internet: www.surteco.com
ISIN: DE0005176903
WKN: 517 690
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Surteco SE: New record figures for sales and earnings
| Source: EQS Group AG