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    SUR   DE0005176903

SURTECO GROUP SE

(SUR)
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PRESS RELEASE : SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021

07/30/2021 | 01:01am EDT
DGAP-News: SURTECO GROUP SE / Key word(s): Half Year Report 
SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021 
2021-07-30 / 07:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
SURTECO GROUP SE: Significant increase in sales and EBIT in the first half year of 2021 
- Group sales increase by 27 % to EUR 377.9 million 
- EBIT at EUR 38.9 million up by 170 % above the year-earlier value in spite of a strong increase in the cost of raw 
materials 
- Annual targets raised. Sales now above EUR 700 million and EBIT above EUR 52 million expected 
Buttenwiesen, 30 July 2021 - SURTECO GROUP SE, holding company for leading national and international 
surface-technology brands, succeeded in continuing to increase its sales revenues in the second quarter of 2021.The 
strongest quarterly sales in the company's history so far in the first quarter of 2021 were once again exceeded in the 
second quarter with sales of EUR 189.4 million. Overall, Group sales in the first half year of 2021 increased by 27 % to 
EUR 377.9 million compared with the year-earlier amount and thereby outperformed the level before the COVID-19 pandemic. 
In spite of a strong increase in the cost of raw materials, which could only be partly passed on and with a time lag, 
earnings before financial result and income tax (EBIT) at EUR 38.9 million were 170 % above the year-earlier value of 
EUR 14.4 million and also significantly above the pre-crisis level. Consolidated net profit rose by 165 % to EUR 25.7 
million (2020: EUR 9.7 million). Consequently, the company is now expecting sales above EUR 700 million for 2021 as a whole 
(previous target: EUR 650 to 675 million) and EBIT above EUR 52 million (previously: EUR 47 to 52 million). 
The improvements were generated from all segments of the Group. Decoratives, the Group's biggest segment, increased 
sales from EUR 214.6 million in the previous year to EUR 274.5 million in the first half year of 2021. EBIT improved by 220 
% to the current level of EUR 33.3 million. After Profiles was already able to buck the trend in the previous year of the 
COVID-19 pandemic with rising sales, half-year sales increased by 36 % to EUR 67.3 million and EBIT went up by 29 % to EUR 
6.6 million. Technicals achieved sales of EUR 36.2 million (2020: EUR 32.9 million). EBIT rose by 78 % to EUR 3.2 million. 
"After the best quarter in the company's history at the start of 2021, the second quarter was impacted by severe 
increases in the cost of raw materials and insufficient availability. As a result of the early introduction of 
countermeasures and the continuing good demand, we see it possible to achieve sales and earnings above our original 
targets for the year," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE. 
You will find the report on the first half year of 2021 and other information about the SURTECO GROUP SE on the 
Internet at www.surteco.com. 
 
Important indicators of SURTECO GROUP SE (in EUR million) 
                                                Q1-2 2020     Q1-2 2021 
Consolidated sales                                  297.1         377.9 
- of which Decoratives                              214.6         274.5 
- of which Technicals                                32.9          36.2 
- of which Profiles                                  49.6          67.3 
Foreign sales in %                                     72            74 
EBITDA                                               35.2          59.8 
EBITDA margin in %                                   11.9          15.8 
EBIT^ 1                                              14.4          38.9 
- of which Decoratives                               10.4          33.3 
- of which Technicals                                 1.8           3.2 
- of which Profiles                                   5.1           6.6 
EBT                                                  14.6          36.9 
Consolidated net profit                               9.7          25.7 
Earnings per share in EUR ^2                           0.62          1.66 
Cash flow from current business operations           28.6          28.9 
Free cash flow                                        8.6          11.8 
                           31/12/2020     30/06/2021 
Balance sheet total             798.8          802.8 
Equity                          373.3          390.6 
Net financial debt              144.7          148.7 
Level of debt in % ^3              39             38 
Equity ratio in %                46.7           48.7 
Number of employees             3,052          3,124 

(1) Difference to balance of segment earnings due to internal clearing

(2) Based on a number of shares amounting to 15,505,731

(3) Net financial debt to Equity Contact:

SURTECO GROUP SE 
Martin Miller 
Investor Relations and Press Office 
T +49 8274 9988-508 
F +49 8274 9988-505 
www.surteco.com 
ir@surteco.com 

Profile of SURTECO

SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized holding 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, release papers, decorative flat foils and edgebandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems. With more than 3,000 employees at 22 production sites worldwide, the Group generates annual sales of around EUR 627 million in 2020. 27 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 26 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from the wood-based, flooring and furniture industries, as well as from interior design.

The shares in SURTECO GROUP SE are listed on the official market (Prime Standard) of the Frankfurt and Munich Stock Exchanges under the ticker symbol SUR and ISIN DE0005176903. They are also traded on the stock markets in Berlin, Düsseldorf and Stuttgart.

Cautionary note regarding forward-looking statements

This press release may contain statements of future forecasts or expectations and other forward-looking statements and involves known and unknown risks and uncertainties. There is therefore no guarantee for the statements and expectations expressed herein. The actual results and developments may differ substantially. The company assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments. -----------------------------------------------------------------------------------------------------------------------

2021-07-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      SURTECO GROUP SE 
              Johan-Viktor-Bausch-Str. 2 
              86647 Buttenwiesen 
              Germany 
Phone:        +49 (0)8274 99 88-0 
Fax:          +49 (0)8274 99 88-5 05 
E-mail:       ir@surteco-group.com 
Internet:     www.surteco-group.com 
ISIN:         DE0005176903 
WKN:          517 690 
Listed:       Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange 
EQS News ID:  1222536 
 
End of News   DGAP News Service 
=------------ 

1222536 2021-07-30

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222536&application_name=news 
 

(END) Dow Jones Newswires

July 30, 2021 01:00 ET (05:00 GMT)

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Financials
Sales 2021 722 M 846 M 846 M
Net income 2021 42,7 M 50,1 M 50,1 M
Net Debt 2021 131 M 153 M 153 M
P/E ratio 2021 14,1x
Yield 2021 3,03%
Capitalization 563 M 660 M 660 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,89x
Nbr of Employees 3 124
Free-Float 16,9%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 36,30 €
Average target price 38,30 €
Spread / Average Target 5,51%
EPS Revisions
Managers and Directors
Wolfgang Moyses Chairman-Management Board
Andreas Riedl Chief Financial Officer
Andreas Engelhardt Chairman-Supervisory Board
Manfred Bracher Chief Operating Officer
Thomas Stockhausen Member-Supervisory Board
Sector and Competitors