01.05.2019 STEICO SE  DE000A0LR936

DGAP-News: STEICO SE: Sustainable growth with high profitability


 

DGAP-News: STEICO SE / Key word(s): Annual Results/Quarterly / Interim Statement
STEICO SE: Sustainable growth with high profitability

01.05.2019 / 09:49
The issuer is solely responsible for the content of this announcement.


STEICO SE: Sustainable growth with high profitability

* Preliminary figures confirmed by final financial statements 2018

* The supervisory board proposes a dividend of 0.25 Euro per share for the financial year 2018

* Positive first quarter with significant jump in sales and earnings


Feldkirchen near Munich, 01. May 2019 - Today the STEICO group (ISIN DE000A0LR936) released its annual report for the financial year 2018 and its interim report for the first quarter 2019.

Business Development 2018

KPI 2018 2017
Revenue 252.0 EURm 230.3 EURm
Total operating revenue (TOR) 254.1 EURm 232.3 EURm
EBITDA 44.4 EURm 37.9 EURm
EBITDA-Margin in % TOR 17.5 % 16.3 %
EBIT 24.6 EURm 22.0 EURm
EBIT-Margin in % TOR 9.7% 9.5 %
Consolidated net income 16.2 EURm 15.3 EURm
Earnings per share 1.15 EUR 1.08 EUR
Equity ratio in %
(as of 31.12.)

53.7%

53.9 %
 

With revenue up 9.4% to EUR 252.0 million in 2018, STEICO was able to continue its growth story and once again reports the most successful year in the company's history. Earnings even increased at an above average rate to new record levels. EBITDA improved by 17.1% to EUR 44.4 million and EBIT lifted by 11.6% to EUR 24.6 million.

In particular, wood fibre insulating materials (+10.6%) and laminated veneer lumber (LVL) (+46.3%) were the driving forces behind the positive growth. Even stronger growth would have been possible for LVL. However, technical aspects had a dampening effect on the output volume of the second LVL production line in the first months of the start-up phase. We expect to be able to fully exploit these capacities in 2019.

Earnings per share amounted to 1.15 EUR (previous year: 1.08 EUR).

Dividend proposal

Based on the positive business development the board of administration proposes to annual general meeting at June 27 2019 to appropriate the net retained profits in 2018 to pay a dividend of 0.25 EUR per share (dividend 2017: 0.21 EUR per share). The volume of the dividend distribution would amount to 3,520,866.25 EUR in total.


Positive first quarter with significant jump in sales and earnings

The STEICO Group once again recorded new records for its revenues and earnings in the first quarter of 2019.

Revenue improved by 19.8% to EUR 70.9 million. The increase in revenues was primarily driven by environmentally friendly insulation materials and laminated veneer lumber.

Earnings increased at an above-average rate in the first quarter. EBITDA improved by 37.8% to EUR 13.0 million and EBIT lifted by 37.5% to EUR 6.6 million.

The very pleasing growth, however, contrasts with a relatively weak first quarter of 2018. In addition, due to a price increase effective from 1 March 2019, it is to be expected that the first two months of the past quarter will also be marked by pull-forward effects.

KPI Q1 2019 Q1 2018
Revenue 70.9 EURm 59.2 EURm
Total operating revenue (TOR) 70.8 EURm 58.1 EURm
EBITDA 13.0 EURm 9.5 EURm
EBITDA-Margin in % TOR 18.4 % 16.3 %
EBIT 6.6 EURm 4.8 EURm
EBIT-Margin in % TOR 9.4% 8.3 %
Profit of the period 4.6 EURm 3.2 EURm
 

The company's management believes that this growth will continue dynamically in the coming quarters.

Forecast

The management is very positive about 2019 as a whole. Both Germany and the other core markets are characterised by stable construction activity and a dynamic timber construction sector. On the other hand there is still uncertainty concerning the further development of the "Brexit", which is being closely monitored by STEICO's management.

Thanks to new capacities for wood fiber insulating materials and capacity reserves for laminated veneer lumber, the STEICO Group is excellently positioned to continue its growth. The Board of Directors therefore confirms the outlook for 2019 with revenue growth above 10% and an EBIT ratio of between 9% and 10% (in terms of total operating revenue).

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



01.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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
EQS News ID: 806043

 
End of News DGAP News Service

806043  01.05.2019 

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 188,90 208,94 230,31 251,96 281,00 308,77 371,00
EBITDA1,2 24,67 33,24 37,91 44,41 56,71 57,02 88,50
EBITDA-Marge3 13,06 15,91 16,46 17,63 20,18 18,47 23,85
EBIT1,4 12,19 18,31 22,02 24,56 32,49 33,58 61,00
EBIT-Marge5 6,45 8,76 9,56 9,75 11,56 10,88 16,44
Jahresüberschuss1 8,07 11,56 15,27 16,16 22,79 25,43 42,00
Netto-Marge6 4,27 5,53 6,63 6,41 8,11 8,24 11,32
Cashflow1,7 20,43 32,92 25,49 40,52 43,36 42,91 55,00
Ergebnis je Aktie8 0,63 0,90 1,08 1,15 1,62 1,81 2,95
Dividende8 0,15 0,18 0,21 0,25 0,25 0,30 0,40
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

INVESTOR-INFORMATIONEN
©boersengefluester.de
Steico
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0LR93 116,400 Halten 1.639,32
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
35,27 20,40 1,69 108,28
KBV KCV KUV EV/EBITDA
8,71 38,21 5,31 30,45
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,25 0,30 0,26 24.06.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
27.04.2021 19.07.2021 14.10.2020 27.04.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
13,69% 54,36% 95,96% 214,59%
    
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Bauzulieferer , A0LR93 , ST5 , XETR:ST5