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Surteco and Formica


Turnover and EBITDA at Surteco grow by more than 60%
The takeover of the Süddekor Group completed at the end of November 2013 brought significant increases in turnover and results in the first quarter of 2014 for Surteco. Group-wide revenues, at €160.1m, were up year on year by 62%. Domes-tic turnover showed growth of 50% to €48.4m and export business showed an even sharper in-crease of 68%, bringing the export rate to 69.8%. In Europe (without Germany), Surteco generated revenues of €75.6m, while turnover in North/South America reached €24.3m and in Asia, Australia and Other totalled €11.7m.


Formica improves EBIT in Europe and North America
The laminates manufacturer Formica, which is part of the Laminates & Panels division of Fletcher Building, improved its EBIT in the first half of the 2013/2014 financial year by 9%. According to figures now released by Fletcher Build-ing, Formica showed a total EBIT of NZ$25m. The individual regions showed differing trends. In Asia, EBIT declined by 14% to NZ$18m, which was explained by the company as partly due to the commissioning of the new HPL plant in Jiuji-ang (China) and to the weakness of the market in Taiwan. In contrast, in North America, EBIT in-creased by 21% to NZ$17m and in Europe the EBIT loss was almost completely eliminated, at minus NZ$1m.


Source: EUWID

Posted and edited by Hanbao News Department