Surteco improves adjusted margins while reported earnings remain under pressure

Surteco ($SUR) reported nine-month 2026 revenue of €623.1 million, down 3%, as weak demand and the exit from its impregnates business weighed on sales. Adjusted EBITDA increased 4% to €76.2 million, lifting the margin to 12.2% from 11.4%. Efficiency measures and partial price increases helped offset significantly higher raw-material purchase costs across its operating divisions.

Reported EBITDA rose only 1% to €66.8 million. EBIT fell to €15.2 million from €22.3 million after higher depreciation and amortization associated with derecognition of a purchase option on leased buildings. The net loss widened to €5.8 million from €5.2 million. Management confirmed and specified its 2026 forecast of €790–820 million in sales and €80–90 million of adjusted EBITDA, leaving the annual outlook dependent on the final quarter.

Sources:

• webdisclosure.com