SURTECO GROUP SE Reports Preliminary Results for 2023

SURTECO GROUP SE has announced its unaudited preliminary financial results for the year 2023, recording consolidated net profits of €835.1 million. The reported Group sales, fueled by the acquisition of Omnova divisions, surpassed the previous year's figures but fell short of the projected target due to challenging market conditions. EBITDA was noted at €66.6 million, with adjusted EBITDA reaching €86.4 million, slightly better than the prior year due to one-off adjustments including acquisition-related expenses.

Despite the difficult market environment and additional costs associated with the integration of Omnova and structural improvements, SURTECO is optimistic about its future. The full integration of Omnova and anticipated economic recovery are expected to drive performance improvement. Wolfgang Moyses, Chairman of the Management Board, emphasizes the company's resilience and forward trajectory despite the tough year.

The annual report detailing the company's performance for 2023 is scheduled for publication on April 24, 2024. SURTECO, a leading entity in surface technology, continues to operate globally with a significant sales footprint in Germany, Europe, and across other continents, serving mainly the wood, flooring, and furniture industries.