DGAP-Adhoc SURTECO GROUP SE: Preliminary sales and earnings for the 2020 financial year - expectations are significantly exceeded
DGAP-Ad-hoc: SURTECO GROUP SE / Key word(s): Preliminary Results
SURTECO GROUP SE: Preliminary sales and earnings for the 2020 financial year - expectations are significantly exceeded
Cumulatively for the full year 2020, Group sales are expected to be considerably below the original targets of € 675 million to € 700 million at around € 627 million, as forecast by SURTECO, due to the effects of the COVID-19 pandemic. This figure nevertheless significantly exceeds analysts' estimates.
As part of the business analysis, the knowledge is condensed that the EBIT for the full year 2020 is expected to be above € 42 million and thus above the analysts' estimates and above the forecast of SURTECO. Due to the pandemic, the company was expected to generate EBIT that was well below the original target of € 40 to € 45 million. Essential for this were the successful implementation of the first phase of the restructuring, lower material costs and the surprisingly good business development in the fourth quarter.
SURTECO GROUP SE will publish the audited complete consolidated financial statements for the 2020 financial year on 30 April 2021.
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29-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|Company:||SURTECO GROUP SE|
|Phone:||+49 (0)8274 99 88-0|
|Fax:||+49 (0)8274 99 88-5 05|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|EQS News ID:||1164309|
|End of Announcement||DGAP News Service|
1164309 29-Jan-2021 CET/CEST