SURTECO GROUP SE Reports Strong Start to 2024

SURTECO GROUP SE has reported a significant improvement in its financial performance for the first quarter of 2024. With a total sales increase of 8% at €222.3 million compared to the previous year’s €205.7 million, the company has made a commendable start to the year. This rise is attributed to the successful integration of Omnova’s acquired divisions which were part of the firm’s calculations for just one month in the prior year's first quarter.

The group's EBITDA saw a 44% rise, reaching €27.6 million up from €19.1 million in 2023. There was also a 90% increase in both Earnings Before Tax (EBT) and consolidated net profit, with figures reaching €9.8 million and €6.9 million respectively. These increases are primarily due to margin improvements from the Performance Plus programme and a reduction in transaction costs.

With this strong quarterly performance, SURTECO confirms its 2023 annual report projections, expecting sales for 2024 to lie between €860 million and €910 million, and an adjusted EBITDA in the range of €85 million to €105 million.