26.04.2018
STEICO SE DE000A0LR936
DGAP-News: STEICO SE: Continued growth with above-average improvement in earnings
DGAP-News: STEICO SE / Key word(s): Final Results/Quarterly / Interim
Statement
STEICO SE: Continued growth with above-average improvement in earnings
26.04.2018 / 21:15
The issuer is solely responsible for the content of this announcement.
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STEICO SE: Continued growth with above-average improvement in earnings
* Preliminary figures confirmed by final financial statements 2017
* The supervisory board proposes a dividend of 0.21 Euro per share for the
financial year 2017
* Profitable growth despite negative impact from weather in Q1 2018
Feldkirchen near Munich, 26. April 2018 - Today the STEICO group (ISIN
DE000A0LR9368) released its annual report for the financial year 2017 and
its interim report for the first quarter 2018.
Business Development 2017
KPI 2017 2016
Revenue 230.3 EURm 208.9 EURm
Total operating revenue (TOR) 232.3 EURm 210.8 EURm
EBITDA 37.9 EURm 33.2 EURm
EBITDA-Margin in % TOR 16.3% 15.7 %
EBIT 22.0 EURm 18.3 EURm
EBIT-Margin in % TOR 9.5% 8.7 %
Equity ratio in % 53.9% 47.6 %
(as of 31.12.)
Consolidated net income 15.3 EURm 11.6 EURm
Earnings per share 1.08 EUR 0.90 EUR
The STEICO Group once again recorded new records for its revenues and
earnings in 2017.
Revenue improved by 10.2% to EUR 230.3 million. EBITDA improved by 14.2% to
EUR 37.9 million and EBIT lifted by 20.2% to EUR 22.0 million. Net income
increased by 31.9% to EUR 15.3 million.
The EBITDA margin of 16.3 and the EBIT margin of 9.5% mean that 2017 was
also the most successful year in STEICO's history in terms of its earnings.
In 2017 STEICO once again benefited from economies of scale as a result of
the high level of capacity uptake for the production lines. In addition
synergies can be realised as a result of the integrated production of
Laminated Veneer Lumber and wood fibre insulaltion materials. Revenue growth
in the United Kingdom was slower as a result of the devaluation of Sterling,
however it was possible to compensate for this thanks to continued growth on
other markets, in particular in France and Germany.
Earnings per share amounted to EUR 1.08 (previous year: EUR 0.90).
Dividend proposal
Based on the positive business development the board of administration
proposes to the 2018 annual general meeting at June 21 to appropriate the
net retained profits in 2017 to pay a dividend of 0.21 EUR per share
(dividend 2017: 0.18 EUR per share). The volume of the dividend distribution
would amount to 2,957,527.65 EUR in total.
First quarter 2018: Profitable growth despite
negative impact from weather
The first quarter has followed on seamlessly from the previous
record-breaking quarters. New historic highs were recorded once again for
both revenues and earnings.
Revenue improved by 9.2% to EUR 59.2 million. As a result of changes in
inventories, growth in total operating revenue was slightly less, up 5.8% to
EUR 58.1 million. The increase in revenues was primarily driven by
environmentally friendly insulation materials and Laminated Veneer Lumber.
Earnings also enjoyed positive growth and were up substantially year on
year. In this regard we must also consider the fact that poor weather
conditions had a negative impact on construction activities, and that the
first quarter cannot be used as an indicator for the year as a whole.
The company's management believes that this growth will continue dynamically
in the coming quarters.
KPI Q1 2018 Q1 2017
Revenue 59.2 EURm 54.2 EURm
Total operating revenue (TOR) 58.1 EURm 54.9 EURm
EBITDA 9.5 EURm 8.5 EURm
EBITDA-Margin in % TOR 16.4% 15.5 %
EBIT 4.8 EURm 4.6 EURm
EBIT-Margin in % TOR 8.3% 8.4 %
Profit of the period 3.2 EURm 2.9 EURm
The company's management believes that this growth will continue dynamically
in the coming quarters.
Outlook
If the economy does not deteriorate, the company's management is aiming for
revenue growth in 2018 of around 15% compared to the previous year. In terms
of EBIT, growth in the upper single-digit to low double-digit percentage
range is forecast for 2018.
The complete financial reports can be downloaded at 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 in the
wood-fibre insulation materials segment.
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 (LVL). 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
Fon: +49-(0)89-99 15 51-548
Fax: +49-(0)89-99 15 51-704
E-Mail: [email protected]
www.steico.com
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26.04.2018 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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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 - 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
End of News DGAP News Service
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679995 26.04.2018
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