EQS-News

Correction of a release from 25/03/2024, 17:30 CET/CEST - SURTECO GROUP SE: Preliminary result for the business year 2023

EQS-News: SURTECO GROUP SE / Key word(s): Preliminary Results Correction of a release from 25/03/2024, 17:30 CET/CEST - SURTECO GROUP SE: Preliminary result for the business year 2023 26.03.2024 / 08:22 CET/CEST The issuer is solely responsible for the content of this announcement. SURTECO GROUP SE: Preliminary result for the business year 2023

• Consolidated net sales achieves € 835.1 million
• EBITDA at € 66.6 million, adjusted EBITDA at € 86.4 million

Buttenwiesen, 25 March 2024 – SURTECO GROUP SE has generated Group sales amounting to € 835.1 million according to unaudited preliminary figures presented. On the back of the additional sales derived from the acquired divisions of Omnova on 1 March 2023, this value is above the year-earlier sales of € 747.7 million. However, owing to the difficult framework conditions and the resulting weak demand, actual sales fell short of the original sales target of € 920 million to € 950 million. Provisional earnings before financial result, income tax and depreciation and amortization (EBITDA) amount to € 66.6 million (2022: € 84.2 million). Less one-off exceptional effects such as acquisition and integration costs, consultancy costs, provisions for personnel measures and PPA step-up inventories, adjusted EBITDA amounts to € 86.4 million after € 84.2 million in the previous year. The provisional earnings before financial result and income tax (EBIT) amount to € 8.1 million (2022: € 40.2 million) and lie within the adjusted earnings forecast given in October 2023. EBIT adjusted by extraordinary one-off expenses amounts to € 37.4 million (2022: € 40.2 million).

“In the business year 2023, firstly the framework conditions were very unfavourable, and secondly we had to absorb extraordinary one-off expenses associated with the integration of the Omnova divisions and with measures relating to structural improvements. As a consequence, we are once again fully on course owing to complete integration of Omnova and an economy that will hopefully soon take off again,” commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.