Surteco Group SE was able to achieve its sales and earnings forecast for the 2019 financial year after presenting preliminary figures. At 675.3 million euros, consolidated turnover was within the target corridor of 670 to 700 million euros.

The main reason for the decline in sales compared to the previous year (699.0 million Euros) was the sale of the North American impregnation business. The operating result (adjusted EBIT) of EUR 40.5 million was slightly above forecast. Due to restructuring provisions and other special effects totaling 19.4 million euros, the reported EBIT of 21.1 million euros in the reporting year was below the previous year’s figure of 32.2 million euros.

The individual segments showed different developments in 2019. While by far the largest segment, “Decoratives”, was slightly below the previous year in terms of sales revenues, as forecast, the “Profiles” segment was able to increase sales revenues more significantly than forecast. The “Technicals” segment suffered on the one hand from weak demand for laminate flooring and on the other hand from the sale of the North American impregnation business and was therefore below forecast.

“Surteco has achieved the operating sales and earnings forecast for 2019. The sale of the North American impregnation business and the initiation of restructuring measures will further improve competitiveness in the medium term. We are in a very solid financial and balance sheet position to counteract the expected burdens from the dynamically developing corona crisis,” comments Wolfgang Moyses, CEO of Surteco Group SE, on the development.

Publication of the annual financial statements and the annual report for 2019 is scheduled for 30 April 2020.