Surteco Group SE

Earnings Release • May 12, 2009

News Details

Ad-hoc | 12 May 2009 07:38

SURTECO SE looks to its robust financial structure in difficult times

SURTECO SE / Interim Report

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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The global economic and financial crisis has now brought about significant
declines in sales in the areas of business where SURTECO SE is operating.
The Group is among the leading suppliers of surface materials based on raw
papers and plastics for technical applications in the international
construction and furnishing industry. During the first quarter of the year,
it fell short of the equivalent year-earlier figure by 22 percent and
recorded sales revenues amounting to EUR 84.9 million (2008: EUR 108.6
million) on 31 March.

The Strategic Business Unit Plastics has always recorded positive results
in past years but the slowdown in demand abroad has exerted a tangible
negative effect in this segment. Sales amounting to EUR 53.7 million (2008:
EUR 67.2 million) lagged significantly behind the equivalent figures for
the first quarter of 2008 after a decline of 20 percent.

The Strategic Business Unit Paper has been subject to very intense
competition for a number of years and has been experiencing an extremely
adverse environment. The financial crisis has exerted further pressure on
the sales problems. SURTECO markets a number of products including edging
tapes and flat foils based on specialist papers in this product group.
Overall, this division lost 25 percent of its sales volume at EUR 31.2
million (2008: EUR 41.4 million) during the period under review compared
with the equivalent year-earlier quarter.

The decline in sales performance during the period under review is
reflected in the operating result of the SURTECO Group, which was 32
percent below the result for the comparable months in 2008. EBITDA fell
from EUR 19.9 million in the first quarter of 2008 to EUR 13.6 million. The
financial result amounted to EUR 8.1 million. The amount includes a further
impairment of EUR 6.0 million on account of the negative performance of the
share price for the package of shares held by SURTECO in Pfleiderer AG,
Neumarkt. This reduced the EBT to EUR 0.6 million.

SURTECO SE is assuming that the effects of the crisis will continue to
impact on its business activity until well into the year 2010. However,
SURTECO has the potential to benefit over the long term from the change in
framework conditions resulting from the crisis. The Group acted at an early
stage to intensify all current cost-reduction programmes and adjustment
measures in human resources in response to the changed working conditions.
They form the foundation for continuing the strategic growth trajectory of
market and technology leadership sustainably over the long term. The
pressure towards consolidation in the sector will intensify in the wake of
this global economic crisis. Not least on the basis of the robust financial
structure, SURTECO SE will be in a position to take advantage of any
opportunities that arise.
12.05.2009 Financial News transmitted by DGAP

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Language: English
Issuer: SURTECO SE
Johan-Viktor-Bausch-Str. 2
86647 Buttenwiesen-Pfaffenhofen
Deutschland
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: g.schneller@surteco.com
Internet: www.surteco.com
ISIN: DE0005176903
WKN: 517 690
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart

End of News DGAP News-Service

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