SURTECO GROUP SE
Correction of a release from 07/06/2022, 17:00 CET/CEST – SURTECO GROUP SE: Annual General Meeting approves dividend of € 1.00 per share

SURTECO GROUP SE: Annual General Meeting approves dividend of € 1.00 per share

Munich, 7 June 2022 – At the virtual Annual General Meeting, the CEO of SURTECO GROUP SE explained the development in 2021 and the current business situation to the shareholders. Thanks to good business development after the turbulence caused by the pandemic in the previous year, the company was able to report the most successful financial year in the company’s history in 2021. Sales increased to € 757 million and earnings before interest and taxes (EBIT) to € 73 million. In this respect, the Supervisory Board and Management Board proposed increasing the dividend by 25% to € 1.00 per share, which was approved by the Annual General Meeting with a large majority. In addition, the remuneration report and an adjustment to the remuneration system for the members of the Management Board were approved.

The first quarter of 2022 was not yet significantly affected by the Russia-Ukraine conflict. In the months from January to March 2022, the company was able to increase sales again by 13% compared to the same quarter of the previous year to € 213 million. Quarterly EBIT fell by 6 % to € 20.2 million compared to the same quarter of the previous year, mainly due to the continued high raw material costs, which can only be passed on in part and with a time lag. However, this result is still at a very high level. For the year as a whole, however, the company expects a decline in demand due to the currently uncertain framework conditions. Group sales should be between € 730 and € 750 million and group EBIT between € 55 and € 65 million. This forecast is under the assumption of no further deterioration due to the Russia-Ukraine conflict and the supply chain problem. 

Further information on SURTECO GROUP SE and the company’s general meeting, including the voting results and a video recording, can be found on the Internet at www.ir.surteco.com/hv.

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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 757 million in 2021. 25 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 28 % 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.