Surteco Group SE

Earnings Release • Apr 24, 2002

News Details

Ad-hoc | 24 April 2002 10:37

SURTECO AG english

SURTECO AG Aims to Give new Impetus to Growth Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SURTECO AG Aims to Give new Impetus to Growth 2001: Consolidated sales up by 40 percent Dividend scheduled to rise again Buttenwiesen-Pfaffenhofen. – Despite a deterioration in general economic conditions and a significant dampening of economic activity in the sector following on from the terrorist attacks in September 2001, SURTECO AG (Buttenwiesen-Pfaffenhofen) is continuing to pursue its plans for growth. The company purchased a majority shareholding in W. Döllken & Co. GmbH (Gladbeck) in August 2001 and this has provided plastics know-how that is key to growth. The Döllken Group was first-time consolidated in August 2001 and sales revenues of the SURTECO Group during the year under review rose by 40 percent to EUR 270.6 million (2001: EUR 193.4). Despite heavy competition in the form of extremely aggressive pricing, the company was able to hold its own in Germany with a high-quality range of products. When consolidated sales generated by Döllken GmbH are included from August 2001, revenues in Germany increased by 53 percent to EUR 106.6 million (2001: 69.8 million). Döllken has contributed revenues of EUR 92.9 million (34 % of consolidated turnover) since first-time consolidation indicating that the strategic Plastics segment is also capable of generating a sustained level of income. Consolidated earnings for 2001 basically remained within the region of the previous year’s earnings, compensating for the performance in the Paper segment, which was owing to the economic downturn. Earnings at SURTECO AG of EUR 24.7 million before taxes (EBT) were 10 percent below the value of EUR 27.6 million for 2000. Consolidated net income at SURTECO AG amounted to EUR 11.8 million, 35 percent below net income for the previous year (EUR 18.1 million). In view of the overall positive consolidated financial statements, the Board of Management (Chairman: Friedhelm Päfgen) will again propose a rise in dividend to the Annual General Meeting (Munich: 20/06/02) amounting to a dividend of EUR 1.10 (2000: EUR 0.92) for fiscal 2001. The implemented cost-cutting and restructuring programme is one of the factors that will lead to a further rise in earnings from ordinary activities. Including the fully-consolidated sales revenues of the Döllken Group, SURTECO AG anticipates consolidated sales in the region of EUR 380 million for 2002. end of ad-hoc-announcement (c)DGAP 24.04.2002 ——————————————————————————– WKN: 517 690; ISIN: DE0005176903; Index: Listed: Amtlicher Handel in Frankfurt (SMAX), München; Freiverkehr in Berlin, Bremen, Hamburg, Stuttgart 241037 Apr 02