SURTECO GROUP SE: Adjustment of the forecast for the full year 2018

SURTECO GROUP SE: Adjustment of the forecast for the full year 2018

Buttenwiesen, 10 August 2018 - SURTECO GROUP SE, holding company for national and international brands for surface technology, reports (based on preliminary figures) sales of EUR 365.2 million and earnings (EBIT) of EUR 23.5 million in the time period from January to June 2018. Although sales revenues increased by 9 percent and the EBIT by 22 percent compared to the same period of the previous year due to the acquisition of the Probos-Group in June 2017, the management board has adjusted the forecast for the full year 2018 against the background of increasingly difficult framework conditions. In particular continuing high raw material prices and a product mix with higher material usage mean, that the earnings target of EUR 49 to 53 million in 2018 (EBIT 2017: EUR 44,7 million) is no longer expected to be achievable. Now, EBIT is expected to be in the range of slightly to significantly below EUR 49 million. Based on an assessment of the business development in July and August 2018, the planned sales target of EUR 725 to 750 million is also uncertain due to a volatile development of certain customer industries, but also due to continuing unfavourable exchange rates. The company publishes the report for the first half year on 14^th August 2018.