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02.05.2024 20:30:39 - EQS-News: STEICO SE: Preliminary figures confirmed by final financial statements 2023
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EQS-News: STEICO SE / Key word(s): Annual Report
STEICO SE: Preliminary figures confirmed by final financial statements 2023
2024-05-02 / 20:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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
Equity ratio in %
(as of 31.12.) 53.3 % 53.5 %
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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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2024-05-02 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
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Otto-Lilienthal-Ring 30
85622 Feldkirchen
Germany
Stuttgart, Tradegate Exchange
EQS News ID: 1894591
End of News EQS News Service
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1894591 2024-05-02 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1894591&application_name=news
END) Dow Jones Newswires
May 02, 2024 14:30 ET (18:30 GMT)
EQS-News: STEICO SE / Key word(s): Annual Report
STEICO SE: Preliminary figures confirmed by final financial statements 2023
2024-05-02 / 20:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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 %
(as of 31.12.) 53.3 % 53.5 %
===
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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2024-05-02 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.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 2024-05-02 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1894591&application_name=news
END) Dow Jones Newswires
May 02, 2024 14:30 ET (18:30 GMT)
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
STEICO SE | A0LR93 | Frankfurt | 29,000 | 02.07.24 13:10:51 | -0,550 | -1,86% | 29,150 | 29,750 | 28,900 | 29,550 |
