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Steico SE
Earnings Release • Feb 6, 2017
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Earnings Release
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News Details
Corporate | 6 February 2017 20:35
Preliminary business figures: STEICO closes 2016 with record-breaking revenues and earnings
DGAP-News: STEICO SE / Key word(s): Preliminary Results
06.02.2017 / 20:35
The issuer is solely responsible for the content of this announcement.
Preliminary business figures: STEICO closes 2016 with record-breaking revenues and earnings
* Annual revenues pass EUR 200 million for the first time
Feldkirchen (Munich), 6 February 2017 – The STEICO Group (ISIN DE000A0LR9369) has published its preliminary figures for 2016 and has closed the fiscal year with a renewed increase in revenues and earnings. In so doing, the group has recorded the most successful fourth quarter in the company’s history.
Year-on-year comparison – 2016/2015
| KPI | 2016e | 2015 | Change |
| Revenues in EUR millions | approx. 208.9 | 188.9 | +10.6% |
| EBITDA in EUR millions | approx. 33.2 | 24.7 | +34.4% |
| EBIT in EUR millions | approx. 18.2 | 12.2 | +49.2% |
Quarterly comparison – Q4 2016/Q4 2015
| KPI | Q4 2016e | Q4 2015 | Change |
| Revenues in EUR millions | approx. 51.8 | 46.3 | +11.9% |
| EBITDA in EUR millions | approx. 7.1 | 6.0 | +18.3% |
| EBIT in EUR millions | approx. 3.5 | 2.8 | +25.0% |
Influencing factors in 2016
In 2016 STEICO benefited in particular from taking its own production line for laminated veneer lumber into operation at the start of the year. This in-house production has substantially reduced the amount of laminated veneer lumber bought in and has increased vertical integration. As a result, the margins in this segment have improved substantially. As capacity for the new production line was not yet fully used in 2016 due to the go-live phase the board of management believes that there will be further positive effects during the course of 2017. At present, construction work to double production capacity for laminated veneer lumber to 160,000 cbm/a is in progress. The group plans to take a second production line into operation in the middle of 2018. The board of management believes that this will bring further increases in revenues and earnings.
Very pleasing growth was also recorded for wood-fibre insulation materials in 2016 despite the continuing price pressure. Substantial increases in the quantities produced resulted in economies of scale and associated increases in efficiency in production. Special products and export products played an increased role in our positive growth.
Outlook
Management believes that the company’s growth will also continue in 2017. In addition to the effects detailed above in laminated veneer lumber production, the company’s management is also forecasting positive growth in the insulation materials segment due to factors including new products for facade insulation and air injected insulation.
The corporate newsletter can be downloaded from www.steico.com/ir .
Company profile
STEICO develops, produces and markets ecological construction products made of renewable raw materials. STEICO is the European market leader for wood fiber 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 insulation material and construction components supplement each other. These include flexible and stable wood fiber insulation panels, composite thermal insulation systems, insulation panels with a reinforcing effect, as well as cavity wall 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
Andreas Schulze
STEICO SE
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Phone: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-98
E-mail: [email protected]
06.02.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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 – 99 |
| E-mail: | [email protected] |
| Internet: | http://www.steico.com |
| ISIN: | DE000A0LR936 |
| WKN: | A0LR93 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt |
| End of News | DGAP News Service |