Steico SE

Earnings Release • Jul 20, 2016

News Details

Ad-hoc | 20 July 2016 21:30

STEICO SE: Dynamic growth in first six months

STEICO SE / Key word(s): Half Year Results

20.07.2016 21:30

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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STEICO SE: Dynamic growth in first six months

* Record-breaking revenues and earnings

Feldkirchen (Munich), 20 July 2016 - The STEICO Group (ISIN DE000A0LR9369)
published its 2016 six-month report today. STEICO once again recorded the
strongest quarter in the company's history in Q2 as a result of very
pleasing growth.

Company growth H1 2016

KPI H1   2016 H1   2015
Revenues EUR 101.3 million EUR 92.5 million
Total operating revenue EUR 106.1 million EUR 91.3 million
EBITDA EUR 17.5 million EUR 11.5 million
EBITDA margin as a 16.5% 12.6%
percentage of total
operating revenue
EBIT EUR 9.8 million EUR 5.4 million
EBIT margin as a 9.2% 5.9%
percentage of total
operating revenue
Net income for the period EUR 6.0 million EUR 3.8 million
Equity ratio in % 47.5% 49.7%
(30.06.16 to 31.12.15)

The company's strategy of an "integrated timber construction system" is
paying off. Increasing demand for ecological wood-fiber insulation
materials and the pleasing contributions to margins from the new production
line for laminated veneer lumber means that the STEICO Group has recorded
record-breaking revenues and earnings in H1 2016.

Revenues in the first six months were up 9.5% year-on-year, from EUR 92.5
million to EUR 101.3 million. EBITDA improved by 52.2% to EUR 17.5 million
(previous year: EUR 11.5 million), and EBIT even lifted by 81.5% to EUR 9.8
million (previous year: EUR 5.4 million). Net income for the period grew
by 57.9% to EUR 6.0 million (previous year: EUR 3.8 million).

Q2 2016 - viewed in isolation
Revenues of EUR 54.4 million were recorded in the second quarter (previous
year: EUR 47.4 million) This corresponds to an increase of 14.0%. Total
operating revenues amounted to EUR 57.4 million (previous year: EUR 45.4
million)

In terms of earnings, gross earnings amounted to EUR 24.8 million (previous
year: EUR 20.0 million) EBITDA in the second quarter improved by 38.8% to
EUR 9.3 million (previous year: EUR 6.7 million). EBIT lifted by 51.4%
compared to the same quarter of the previous year to EUR 5.6 million
(previous year: EUR 3.7 million). The EBITDA margin amounted to 16.2%
(previous year: 14.8%), the EBIT margin was 9.8% (previous year: 8.1%).

The second quarter has been the most successful in the company's history in
terms of both revenues and earnings.

Outlook
Looking to the second half of the year, the company's management believes
that the positive growth will continue, however the growth rates are
expected to be slightly lower than in the first half of the year.
Management expects that the consequences of the planned BREXIT will dampen
future growth on this market. The further pace of growth also depends on
the extent to which STEICO is able to penetrate new markets with laminated
veneer lumber and to substitute wood for conventional building products.

The company's management is forecasting revenue growth in the upper single-
digit percentage range for the year as a whole. In terms of EBIT, above
average growth in the upper double-digit percentage range is forecast.

The full report 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 global 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: a.schulze@steico.com
www.steico.com

20.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Munich (m:access), Stuttgart; Open Market (Entry Standard) in
Frankfurt

End of Announcement DGAP News-Service

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