Surteco: Slight fall in turnover from paper operations
German Surteco has announced that its Plastics division again outperformed its Paper division in the 2016 financial year in revenue terms. These operations delivered a 4% hike in turnover to €254.4m, due in part to its 1 December 2016 acquisition of British Nenplas. On the other hand, revenues from its Paper division fell 2% to €385.4m. However, the Paper division fared in terms of income. EBIT was almost half as high again as the previous year at €25.3m.
Much lower charges for the clustering of decor printing activities in Buttenwiesen-Pfaffenhofen than the previous year were the primary factor here. The bulk of these exceptional charges had been booked in its 2015 financial statements; just €2.2m had been incurred in 2016. The Plastics division improved its EBIT by 19% to €22.1m.