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Surteco: Plastics unit books bigger rise in revenues

03.12.2018 − 

The more challenging economic climate and persistently high raw material costs that cannot be fully recouped heralded a slump in revenues and earnings at Surteco during the third quarter. Group revenues dropped 7.3% to €169.0m. Foreign business (-8.0%) fared a little worse than the German domestic market (-5.2%). Group EBITDA slipped 26.7% to €18.4m, while EBIT plunged 41.7% to €8.4m.

Both of its strategic business units made similar contributions to this decline. The Paper strategic business unit generated revenues of €85.6m, 7.1% less than in the prior-year period. The Plastics strategic business unit suffered a little more with a 7.4% downturn to €83.4m. Revenues from its plastics operations had shot up 23.8% to €180.6m in the first half of the year, because Probos Plasticos and which it acquired with effect from 1 July 2017, had not been consolidated in the prior-year period. This effect was no longer a factor in the third quarter.

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