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SURTECO GROUP SE: with significant increase in earnings in the third quarter, EBITDA margin increases to 15.2 %

DGAP-News: SURTECO GROUP SE / Key word(s): 9 Month figures SURTECO GROUP SE: with significant increase in earnings in the third quarter, EBITDA margin increases to 15.2 % 13.11.2020 / 07:00 The issuer is solely responsible for the content of this announcement. SURTECO GROUP SE with significant increase in earnings in the third quarter, EBITDA margin increases to 15.2 %

Buttenwiesen, 13 November 2020 - In the third quarter of 2020, the business situation has significantly recovered in line with expectations after the major collapse during the second quarter. Group sales of the SURTECO GROUP SE at € 162.2 million in the third quarter were only 3 % below the year-earlier period. Sales up to 30 September 2020 therefore totalled € 459.3 million by comparison with € 519.3 million in the previous year. Adjusted by exchange rate effects and by the impregnating business in North America sold in July 2019, the comparable drop was 7 %. The high level of cost flexibility and the success of the efficiency improvements achieved in the recent past are reflected by the increase in EBITDA to € 24.6 million (Q3 2019: € 22.4 million) in the third quarter. The EBITDA margin therefore rose to 15.2 %. During the first three quarters, EBITDA of € 59.9 million was achieved after € 64.6 million in 2019. The operating result (earnings before financial result and income tax, EBIT) climbed by 26 % to € 14.4 million (Q3 2019: € 11.4 million) during the third quarter. In the first three quarters of 2020, the Group generated EBIT of € 28.8 million after € 31.6 million in the previous year. Since the financial result was also significantly improved, the pretax profit at € 27.1 million on 30 September was only slightly below the year-earlier value in 2019 (€ 28.0 million). After tax, SURTECO reported a nine-month profit of € 18.6 million following on from € 19.5 million or earnings per share of € 1.20 (9M 2019: € 1.26).

"In line with expectations, our business underwent a significant recovery in the third quarter after the weak previous quarter owing to the coronavirus. Thanks to our high level of cost efficiency, we even succeeded in substantially improving the result in the quarter under review. Subject to the reservation that the situation does not seriously deteriorate again owing to the pandemic, we are therefore also cautiously confident for the situation in the final quarter," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.