DGAP-News: SURTECO SE / Key word(s): AGM/EGM
SURTECO SE: Focus on further growth
30.06.2016 / 13:56
The issuer is solely responsible for the content of this announcement.
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Press Release
SURTECO SE : Focus on further growth
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Renewed organic growth expected for 2016, EBIT is projected to increase
to EUR 38-42 million
Dividend raised to EUR 0.80 for 2015
Robust start in the business year 2016
Munich, 30 June 2016 - The Chairman of the Board of Management of SURTECO
SE - one of the world's leading manufacturers of decorative surface
materials - confirmed the forecast for the year overall in 2016 to the
shareholders of the company at the Annual General Meeting held today.
After it succeeded in increasing consolidated sales from EUR 618.5
million to EUR 638.4 million in 2015, the Board of Management once again
anticipates a further increase in sales in 2016. Earnings Before
Financial Result and Income Tax (EBIT) look set to rise significantly
from EUR 31 million to a value between EUR 38 million and EUR 42 million
on the back of rising profitability and significantly lower one-off
negative impacts from Süddekor integration. At the end of the 1st
quarter, SURTECO posted sales revenues amounting to EUR 170.2 million and
EBIT of EUR 10.4 million after a robust start to the business year 2016.
The Board of Management was also able to substantiate the outstanding
quality of the company's balance sheet with an equity ratio of 50.9 %,
gearing (ratio of net financial debt to equity) of 35% and liquid funds
amounting to EUR 69.6 million.
All agenda items approved with a large majority - dividend increased to
EUR 0.80
All administrative resolution proposals were approved by a large majority
of the shareholders present. These also encompassed a further increase in
dividend payment from EUR 0.70 per share in the previous year to EUR 0.80
per share.
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You will find additional information on SURTECO SE and on the Annual
General Meeting of the company including voting results on the Internet at
www.surteco.com.
Profile of SURTECO
SURTECO SE, Buttenwiesen-Pfaffenhofen, is a leading international
specialist for surface technologies. The product portfolio includes papers
printed with decorative designs, impregnated products, release papers,
decorative flat foils and edgebandings based on specialist papers for
technical applications and plastics. The extensive product portfolio is
completed by skirtings made of plastic, technical extrusions for industry
and do-it-yourself ranges and shutter systems.
The Group currently has a workforce of appr. 2,700 and manufactures at 20
sites on four continents, currently generating approximately 29 % of sales
in Germany, 44 % in European countries outside Germany and the remainder in
America, Asia and Australia. Customers of SURTECO generally come from the
wood based materials, flooring and furnishing industry and the interior
industry.
The shares of SURTECO 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, Stuttgart Hamburg and Hannover.
Cautionary note regarding forward-looking statements
This press release contains 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 does not intend to - and assumes no
obligation - to update any forward looking statements contained herein or
to adapt such information to future results or developments.
Contact:
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SURTECO SE
Andreas Riedl Martin Miller
Chief Financial Officer Investor Relations and Press
+ 49 (0) 8274/99 88-563 Office
+ 49 (0) 8274/99 88-508
Internet www.surteco.com
Email ir@SURTECO.com
Fax + 49 (0) 8274/99 88-515
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30.06.2016 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
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Language: English
Company: SURTECO SE
Johan-Viktor-Bausch-Str. 2
86647 Buttenwiesen-Pfaffenhofen
Germany
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: ir@surteco.com
Internet: www.surteco.com
ISIN: DE0005176903
WKN: 517 690
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Stuttgart
End of News DGAP News Service
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475095 30.06.2016
DGAP-News: SURTECO SE: Focus on further growth
| Source: EQS Group AG