EQS-News: SURTECO GROUP SE: Sales up compared with previous year on the back of Omnova integration; Ongoing weak demand and one-off exceptional effects impact negatively on earnings
SURTECO GROUP SE: Sales up compared with previous year on the back of Omnova integration; Ongoing weak demand and one-off exceptional effects impact negatively on earnings
- SURTECO GROUP SE: Sales up compared with previous year on the back of Omnova integration; Ongoing weak demand and one-off exceptional effects impact negatively on earnings
The issuer is solely responsible for the content of this announcement. - However, a significant reduction in demand, particularly in Europe and North America, and one-off costs in connection with the Omnova acquisition and the purchase price allocation (PPA) exerted a negative impact on the result.
- Earnings before financial result and income tax (EBIT) amounted to € 7.6 million and were consequently -77 % below the equivalent year-earlier value.
- The company introduced measures in the areas of pricing, personnel, purchasing, operations and working capital in order to improve earnings.