Earnings Release • Nov 23, 2007
Earnings Release
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Corporate | 23 November 2007 08:53
Third Quarter Figures 2007: STEICO AG increases its turnover
STEICO Aktiengesellschaft / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
Feldkirchen – The sales revenues of the STEICO corporate group have risen
further. The increase in the first nine months of 2007 amounted to 15.2%
totalling €72.2m (previous year: €62.7m). In the third quarter the European
market leader in wood fibre insulation materials obtained profits in the
amount of €24.3m (previous year: €22.9m). This constitutes an increase of
6.2%.
Production line modification leads to enlarged capacities
Due to a six-week production downtime of a major production line, the
turnover growth rate decelerated in the third quarter. The modification
works were completed in a timely and swift manner, thus leading to
considerably enlarged production capacities. The corporate group intends to
compensate for the production downtimes by using its enlarged manufacturing
capacities by the end of this year.
Despite the extraordinary expenditure related to the company’s IPO last
June, which amounted to €3.1m, the STEICO corporate group managed to
achieve positive nine-month results. The corporate surplus as of the end of
the third quarter amounted to €1.8m (previous year: €4.2m).
Increased foreign trade activities
STEICO anticipates further corporate growth, with the overall operating
performance reaching the mark of €100 million at the end of the year. The
prospects for the coming year are also good. Considerable foreign
transactions are expected. Accompanied by the increase in capacity and the
new I-joist products and hemp insulation materials, they will substantially
contribute to the growth in sales and revenues.
The interim report as of 30 September 2007 can be downloaded at
www.ir.steico.com.
Company profile
The STEICO Group develops, produces and sells ecological construction
products made of renewable natural resources. STEICO AG leads the European
market for wood fibre insulation materials with a market share of more than
35%. The company also enjoys top rankings for its highly effective cost
structure as well as its Germany-based Research and Development activities.
With the launch of new STEICO products 'Hemp insulation materials' and
'I-joists' as construction elements for residential construction, the
company has grown to become a system provider for ecological construction
products. The production of natural fibre boards (NFB) as components for
the I-joists rounds off STEICO‘s vertical integration, unique for the
industry. The Munich-based company‘s products are successfully used in
house construction applications for floors, walls, ceilings and roofs.
The corporate group's goal is to pursue, through clear and transparent
strategy, the recent growth reflected in double-digit turnover and profit
figures. Existing and new products, also those targeting new customers,
constitute the focus of corporate strategic planning. By means of the IPO
proceeds of June 2007 the company is in a good position to both strengthen
the core group activities and accelerate the growth process.
Contact:
Andreas Schulze
STEICO Aktiengesellschaft
Hans-Riedl-Strasse 21
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-97
E-Mail: [email protected]
www.steico.com
Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen
Deutschland
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: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in
Frankfurt
End of News DGAP News-Service
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