GERMANY - Surteco Group SE reports unaudited preliminary figures for 2023, indicating Group sales of EUR 835.1 million, up from EUR 747.7 million the previous year, largely due to the acquisition of Omnova divisions.

However, actual sales fell short of the target range of EUR 920 million to EUR 950 million due to challenging market conditions.

Provisional EBITDA stands at EUR 66.6 million, down from EUR 84.2 million in 2022, but adjusted EBITDA, accounting for exceptional expenses, is EUR 86.4 million, up from EUR 84.2 million.

EBIT is EUR 8.1 million, down from EUR 40.2 million, but adjusted EBIT is EUR 37.4 million, in line with forecasts.

Wolfgang Moyses, Chairman of Surteco Group SE, notes the tough market conditions in 2023 but expresses confidence in the company's trajectory, especially with the integration of Omnova and hopeful economic prospects.

Surteco Group SE (Surteco) specializes in the development, design, manufacturing, and distribution of decorative surface materials made from paper and plastic. Catering to various furniture sectors, including office, kitchen, and sanitary products, as well as wood-board and particleboard manufacturers, the company also conducts research and development to enhance its product offerings. With operations in Europe, the Americas, Australia, and Asia, Surteco is headquartered in Germany.