Surteco group SE has reported its preliminary financial results for the 2024 business year, showing solid growth despite weak demand across its sectors. The company achieved group sales of €856.6 million, a 3% increase from the previous year's €835.1 million. The rise was driven by the full-year consolidation of its Omnova acquisition, which had been consolidated for only ten months in the previous year.
Photo: Surteco.
Although actual sales narrowly missed the company's target range of €860 million to €910 million, the development of earnings met expectations. The preliminary EBITDA (earnings before financial result, income tax, depreciation and amortisation) surged by 42%, reaching €94.4 million, up from €66.6 million in 2023. When adjusted for one-off costs such as acquisition and integration expenses, consultancy fees, personnel provisions, and PPA step-up inventories, EBITDA stood at €95.3 million, reflecting a 10% increase from the previous year's €86.4 million.
The company's preliminary EBIT (earnings before interest and tax) saw a remarkable 326% surge, reaching €34.5 million, compared to €8.1 million in 2023.
Chairman highlights strong operational performance
Despite difficult market conditions, Surteco Group SE delivered a 'respectable operating result', positioning itself well for long-term growth.
Wolfgang Moyses, Chairman of the Management Board, stated: 'Once again, the framework conditions were very unfavourable in the business year 2024. In particular, demand once more simply failed to gain traction. However, against this background, our internal efforts succeeded in achieving a respectable operating result in 2024. As a consequence, we perceive ourselves to be in a good position in order to achieve our long-term goals.'
The full Annual Report for 2024 is scheduled for publication on 29 April 2025.
About Surteco Group SE
Headquartered in Buttenwiesen, Germany, Surteco Group SE is a mid-sized, internationally active company specialising in surface technology. The group brings together leading national and international brands and offers a comprehensive product portfolio, including decor papers, impregnated materials, release papers, decorative foils, and edge bandings. The company also produces plastic skirtings, technical extrusions, and roller shutter systems.
With more than 3,500 employees at 26 production sites worldwide, Surteco generates annual sales of approximately €857 million. 19% of revenues come from Germany, 37% from other European markets, and 44% from the Americas, Asia, and Australia. The company primarily serves the wood-based, flooring, and furniture industries, as well as interior design sectors.
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Surteco Group SE
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www.surteco.com