STEICO SE
DGAP-News: STEICO SE
/ Key word(s): 9 Month figures
STEICO SE: Strong operating growth with significant earnings increase * 9-month figures confirm growth with new record values Feldkirchen (Munich), 16. October 2019 - The STEICO Group (ISIN DE000A0LR936) published its interim report on Q3 2019 today. 9-month growth
The STEICO Group continued its growth in the first nine months of 2019 with new record-breaking figures. Revenue in the first nine months improved by 14.7% to EUR 215.3 million. New record-breaking earnings were also recorded. EBITDA improved by 34.8% to EUR 45.0 million and EBIT lifted by 36.9% to EUR 26.8 million. Net income for the period improved by 45.2% to EUR 19.6 million. It should be noted that the 9-month results are characterized by a positive special effect. In the third quarter, the Polish production company received a credit of around EUR 2.4 million to compensate for the sharp rise in electricity prices in the first half of 2019. The Polish government aims to use this compensation to alleviate the burden of the sharp rise in electricity costs for Polish citizens and companies. The profitability of the STEICO Group was further increased even after adjustment for this effect. The adjusted third quarter was also the most successful in the company's history in terms of both revenues and earnings. Growth in the third quarter In the third quarter of 2019 the STEICO Group recorded revenue growth of 16.6% with revenues of EUR 75.7 million (Q3? ?2018: EUR 64.9 million). Total operating revenue amounted to EUR 75.4 million (Q3 2018: EUR 64.7 million). As a result, the third quarter enjoyed the highest revenues in the company's history. Gross profits in Q3 totaled EUR 38.1 million (Q3 2018: EUR 28.4 million) and were thus up by 34.1%. EBITDA was up by 61.0% in the third quarter to EUR 19.0 million (Q3 2018: EUR 11.9 million). The EBITDA margin is 25.2%. EBIT was up 82.4% year-on-year to EUR 13.1 million (Q3 2018: EUR 7.2 million). The EBIT margin amounted to 17.4%. EBT amounted to EUR 12.8 million, up 84.8% year-on-year (Q3 2018: EUR 6.9 million). Net income for the period totaled EUR 10.4 million and was thus up by 110.5% compared to the previous year (Q3 2018:. EUR 5.0 million). The third quarter is thus also the most profitable in the company's history in terms of results. Outlook 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 insulation material and construction components supplement each other. These include flexible and stable wood fibers insulation panels, composite thermal insulation systems, insulation panels with a reinforcing effect, as well as air injected insulation made of wood fibers and cellulose. The construction elements comprise I-joists and laminated veneer lumber. In addition, the STEICO group also produces fiberboard and operates in the wood trade. 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
16.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | 891385 |
| End of News | DGAP News Service |
891385 16.10.2019
