SURTECO Achieves Forecasted Growth Amidst Challenging Conditions

SURTECO GROUP SE reported financial results for the first nine months of 2024, showing resilience despite tough market conditions. Sales increased by 4% to €662.2 million, compared to €637.3 million in the same period last year. This growth was attributed to the consolidation of Omnova divisions. Adjusted EBITDA rose by 20% to €76.8 million, while reported EBITDA saw a 63% boost to €76.1 million.

Net profit turned around significantly to €7.8 million from a €13.3 million loss last year, driven by reductions in material, personnel, and other operating expenses. Despite subdued demand, SURTECO expects to meet its annual forecast, with projected sales between €860 million and €880 million, and adjusted EBITDA between €85 million and €95 million by year-end.

Chairman Wolfgang Moyses highlighted ongoing challenges but remained focused on achieving forecast targets through enhanced cost strategies and the Performance Plus program.