At EUR 222.3 million, the Surteco Group’s sales in the first quarter of 2024 were 8% higher than the previous year’s figure of EUR 205.7 million. The acquired Omnova divisions were only included for one month in the first quarter of the previous year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 44% to EUR 27.6 million (previous year: EUR 19.1 million) and earnings before taxes (EBT) by 90% to EUR 9.8 million (previous year: EUR 5.1 million), mainly due to margin improvements from the Performance Plus program and the absence of transaction costs from the acquisition.

Consolidated profit also increased by 90 percent to EUR 6.9 million after EUR 3.6 million in the previous year, resulting in earnings per share of EUR 0.44 (previous year: EUR 0.23). In this respect, the forecast from the 2023 Annual Report is confirmed. Accordingly, Group sales for the full year 2024 are expected to be in the range of EUR 860 million to EUR 910 million and EBITDA adjusted for the Group is expected to be in the range of EUR 85 million to EUR 105 million.

“In a persistently difficult market environment, we have made a good start to the 2024 financial year. Our measures from the Performances Plus program have contributed significantly to the improvement in earnings,” says Wolfgang Moyses, CEO of the Surteco Group.