Growth at Surteco mainly fuelled by acquisitions

12.04.2018 − 

Surteco raised its group revenues by 8% to €689.7m in the 2017 financial year, according to figures published on 29 March. This upswing was primarily fuelled by the late 2016 take-over of the British group Nenplas and the July 2017 acquisition of the Portuguese company Probos. Surteco had posted a somewhat smaller growth in revenues of 5% after nine months.

Group EBIT improved 9% to €44.7m in the full year despite significant hikes in the costs of a few upstream products. Both of its divisions, Paper and Plastic, played a part in the upturn in earnings. Revenues and EBIT were within the spectrum of the forecast last confirmed by Surteco in mid-November. At that time, the company projected a sizeable increase in revenues and EBIT in the region of €42m-46m. On the other hand, pre-tax profits fell 4% to €33.5m (35.0m) due to unfavourable currency effects.

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