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Steico SE
Earnings Release • Jun 21, 2023
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Earnings Release
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News Details
Ad-hoc | 21 June 2023 12:56
Update of the sales and earnings forecast for 2023
STEICO SE / Key word(s): Profit Warning
Update of the sales and earnings forecast for 2023
21-Jun-2023 / 12:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Update of the sales and earnings forecast for 2023
Feldkirchen near Munich, 21 June 2023 – (ISIN DE000A0LR936) – Based on current business figures, the Management Board of STEICO SE today updated the STEICO Group’s revenue and earnings forecast for the year 2023 as a whole. Sales are now expected to be around 15% below the previous year (previously: at previous year’s level) and EBIT is expected to be 8% to 10% (previously: 10% to 15%) in relation to total operating revenues.
Although there are currently signs of a pick-up in demand, its momentum is below original expectations. Reasons for this include increasingly tough competition in the wood-fibre insulation segment and continued restraint on the part of STEICO customers.
Management is responding to the current situation with short-term measures to reduce costs and ensure liquidity. As before, the management believes that STEICO is very well positioned in a future market and is confident that it can lead the Group back to growth in the medium and long term.
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: [email protected]
End of Inside Information
21-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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: | 1662361 |
| End of Announcement | EQS News Service |