DGAP-News: STEICO SE: STEICO SE: Sales growth and solid earnings in H1 2020 despite corona restrictions
DGAP-News: STEICO SE
/ Key word(s): Half Year Results
STEICO SE: Sales growth and solid earnings in H1 2020 despite corona restrictions
Business Development H1 2020
Despite the restrictions on public life as a result of the corona pandemic, the STEICO Group is able to continue its growth. Revenue improved by 3.3% to € 144.2 million in the first six months of 2020. The positive development in core markets such as Germany and the Alpine region compensated for declining sales in markets such as the UK and Australia. As a result of the impact of the pandemic, earnings are slightly below the previous year but are very solid. EBITDA totaled € 23.7 million, down 8.8%. The EBITDA margin is 16.6%. EBIT in the first six months totaled € 12.2 million and was thus down by 10.9% compared to the previous year. The EBIT margin amounted to 8.6%. The STEICO Group is continuing to invest in expanding its production capacities in order to continue to meet growing demand in future. At the Czarnków site (Poland), another plant for stable wood fiber insulation materials from the wet process is being built, while at the Casteljaloux site (France), a plant for stable wood fiber insulation materials from the dry process is planned. Q2 2020 - viewed in isolation Revenues of € 69.7 million were recorded in the second quarter (previous year: € 68.6 million) This corresponds to an increase of 1.6%. Total operating revenues amounted to € 69.8 million (previous year: € 69.7 million) Gross profits amounted to € 31.9 million (previous year: € 32.9 million). EBITDA in the second quarter fell by 10.4% to € 11.6 million (previous year: € 12.9 million). EBIT fell by 12.5% to € 6.2 million (previous year: € 7.1 million). The EBITDA margin is 16.6% (previous year: 18.6%), the EBIT margin is 8.9% (previous year: 10.1%). Outlook The complete financial report can be downloaded at www.steico.com/ir 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 fiber insulation panels, facade insulation materials, as well as cavity wall insulation made of wood fibers 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
16.07.2020 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: | [email protected] |
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: | 1095789 |
End of News | DGAP News Service |
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1095789 16.07.2020
Steico SE Stock
Currently there is a rather positive sentiment for Steico SE with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 32 € shows a slightly positive potential of 15.73% compared to the current price of 27.65 € for Steico SE.