STEICO SE: Preliminary figures confirmed by final financial statements 2023
EQS-News: STEICO SE / Key word(s): Annual Report
STEICO SE: Preliminary figures confirmed by final financial statements 2023
02.05.2024 / 20:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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STEICO SE: Preliminary figures confirmed by final financial statements 2023
Feldkirchen near Munich, 2 May 2024 - Today the STEICO group (ISIN
DE000A0LR936) released its Annual Report for the financial year 2023.
Business Development 2023
KPI 2023 2022
Revenue 365.3 EURm 445.2 EURm
Total operating revenue (TOR) 356.8 EURm 467.4 EURm
EBITDA 57.7 EURm 88.6 EURm
EBITDA margin in % TOR 16.2 % 19.3 %
EBIT 30.4 EURm 65.2 EURm
EBIT margin in % TOR 8.5 % 13.9 %
Consolidated net income 16.9 EURm 47.9 EURm
Earnings per share 1.20 EUR 3.40 EUR
Equity ratio in % 53.3 % 53.5 %
(as of 31.12.)
2023 was a challenging year for the STEICO Group in many ways. The
construction industry suffered throughout Europe due to high inflation and
higher interest rates. At the start of the year, disproportionately high
levels of inventories at traders and processing companies also dampened
demand. What is more, heightened competition on the market for wood fibre
insulation materials also depressed sales prices. Growth stabilised again at
the end of the year, however the STEICO Group recorded lower sales figures
for the first time since going public.
Total revenues fell by 17.9% to EUR 365.3 million. EBITDA was down by 34.9%
year-on-year to EUR 57.7 million and EBIT fell by 53.4% to EUR 30.4 million. The
profit for the period was down by 64.7% to EUR 16.9 million year-on-year.
Earnings per share amounted to 1.20 EUR (previous year: 3.40 EUR).
Appropriation of retained earnings
In the opinion of the Administrative Board, the persistently difficult
economic situation in the construction sector continues to necessitate
measures, in particular to secure liquidity, in order to adequately counter
the ongoing challenging environment in the construction industry. The
Administrative Board therefore proposes to suspend the dividend payment for
the 2023 financial year and to use the liquidity remaining in the company to
further strengthen the capital base and to finance past and future
investments.
Forecast
The company's management is taking a cautious view of the further course of
the year, however it believes that the market will continue to stabilise.
If the continued economic and competitive developments do not result in any
negative effects, the management is forecasting revenue at the previous
year's level of around EUR 365 million and an EBIT ratio of between 9% and 11%
(to total operating revenue).
The complete financial reports can be downloaded at
https://www.steico.com/en/investor-relations/
Company Profile
STEICO develops, produces and markets ecological construction products made
of renewable raw materials. STEICO is the global market leader for wood
fibre insulation materials.
STEICO is positioned as a system provider for ecological residential
construction and is the only manufacturer in the industry to offer an
integrated wooden construction system in which innovative wooden
construction components and ecological insulation material supplement each
other.
Laminated veneer lumber and I-joists form the structural components of the
system. The insulation materials include flexible and stable wood fibre
insulation panels, facade insulation materials, as well as cavity wall
insulation made of wood fibres and cellulose. Sealing products for the
building shell complete the overall system.
The STEICO Group offers its customers a unique range of products through to
the prefabrication of complete components for timber element construction.
The Munich-based company's products are used in new construction and when
renovating roofs, walls, ceilings, floors and facades. STEICO's products
allow the construction of future-proof, healthy buildings with a
particularly high quality of living and a healthy atmosphere. STEICO's
products offer reliable protection against cold, heat and also noise, and
they permanently improve the building's energy efficiency.
Contact
Andreas Schulze
STEICO SE
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-548
Fax: +49-(0)89-99 15 51-704
E-Mail: a.schulze@steico.com
www.steico.com
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Language: English
Company: STEICO SE
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Germany
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 700
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Basic Board), Hamburg, Munich (m:access),
Stuttgart, Tradegate Exchange
EQS News ID: 1894591
End of News EQS News Service
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1894591 02.05.2024 CET/CEST