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Surteco Group SE
Earnings Release • Jan 29, 2021
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Earnings Release
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Ad-hoc | 29 January 2021 10:05
SURTECO GROUP SE: Preliminary sales and earnings for the 2020 financial year – expectations are significantly exceeded
SURTECO GROUP SE / Key word(s): Preliminary Results
SURTECO GROUP SE: Preliminary sales and earnings for the 2020 financial year – expectations are significantly exceeded
29-Jan-2021 / 10:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SURTECO GROUP SE: Preliminary sales and earnings for the 2020 financial year – expectations are significantly exceeded
Buttenwiesen, 29 January 2021
The sales and earnings development of SURTECO GROUP SE was better than expected in the 4th quarter of 2020. According to preliminary figures, sales in Q4 are above the value of the previous year and earnings before interest and taxes (EBIT) are significantly above the previous year.
Cumulatively for the full year 2020, Group sales are expected to be considerably below the original targets of € 675 million to € 700 million at around € 627 million, as forecast by SURTECO, due to the effects of the COVID-19 pandemic. This figure nevertheless significantly exceeds analysts’ estimates.
As part of the business analysis, the knowledge is condensed that the EBIT for the full year 2020 is expected to be above € 42 million and thus above the analysts’ estimates and above the forecast of SURTECO. Due to the pandemic, the company was expected to generate EBIT that was well below the original target of € 40 to € 45 million. Essential for this were the successful implementation of the first phase of the restructuring, lower material costs and the surprisingly good business development in the fourth quarter.
SURTECO GROUP SE will publish the audited complete consolidated financial statements for the 2020 financial year on 30 April 2021.
Contact:
Martin Miller
Investor Relations
+49 (0)8274 9988-508
29-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | SURTECO GROUP SE |
| Johan-Viktor-Bausch-Str. 2 | |
| 86647 Buttenwiesen | |
| Germany | |
| Phone: | +49 (0)8274 99 88-0 |
| Fax: | +49 (0)8274 99 88-5 05 |
| E-mail: | [email protected] |
| Internet: | www.surteco-group.com |
| ISIN: | DE0005176903 |
| WKN: | 517 690 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1164309 |
| End of Announcement | DGAP News Service |