14.10.2020 STEICO SE  DE000A0LR936

DGAP-News: STEICO SE: Despite COVID-19: profitable growth will continue.


 

DGAP-News: STEICO SE / Key word(s): 9 Month figures
STEICO SE: Despite COVID-19: profitable growth will continue.

14.10.2020 / 20:15
The issuer is solely responsible for the content of this announcement.


Despite COVID-19: profitable growth will continue.


Feldkirchen (Munich), 14. October 2020 - The STEICO Group (ISIN DE000A0LR936) published its interim report on Q3 2020 today.

9-month development

KPI 9M 2020 9M 2019
Revenues 227.2 €m 215.3 €m
Total operating revenue (TOR) 222.3 €m 215.9 €m
EBITDA 41.5 €m 45.0 €m
EBITDA margin as a percentage of TOR 18.7 % 19.7 %
EBIT 24.5 €m 26.8 €m
EBIT margin as a percentage of TOR 11.0 % 11.3 %
Net income for the period 16.8 €m 19.6 €m
Equity ratio in %
(30.09.2020 compared to 31.12.2019)
49.9% 53.7 %
 

The STEICO Group continued its growth in the first nine months of 2020 despite the activities to slow the spread of COVID-19. Revenue in the first nine months improved by 5.5 % to € 227.2 million.

With regard to the results, it should be noted that the third quarter of the previous year was characterized by a positive one-off effect in the form of a state subsidy amounting to € 2.4 million. In view of the impact of COVID-19, it was nevertheless possible to achieve a solid development of earnings. EBITDA was down 7.7 % year-on-year to € 41.5 million (-2.6 % adj.) EBIT totalled € 24.5 million, down 8.8 % (+/-0 % adj.) Net income for the period was down 14.2 % year-on-year at € 16.8 million (-2.3 % adj.)

The slight decline in the 9-month results is still a result of the lockdown phase in spring. After initial easing, most sales markets stabilized and were able to continue the previous year's development thanks to catch-up effects. In fact, the third quarter marked new records in terms of both sales and earnings (after eliminating the special effect in the previous year).

Isolated view of the third quarter 2020

In the third quarter of 2020, the STEICO Group was able to lift its revenues in total by 9.6 % to € 83.0 million despite the COVID-19 restrictions (previous year: € 75.7 million) - the highest ever revenues recorded in a single quarter.

Despite the previous COVID-19 restrictions and those which continue to apply, earnings also recorded very pleasing growth.

Gross profits in Q3 totaled € 39.1 million and were thus up by 3.4 % (Q3 2019: € 37.8 million).

EBITDA in Q3 totaled € 17.8 million and was thus 6.2 % lower than in the previous year (Q3 2019: € 19.0 million). The EBITDA margin in the third quarter amounted to 22.2 %.

EBIT in Q3 totaled € 12.3 million, down 6.6 % (Q3 2019: € 13.1 million). The EBIT margin in the third quarter amounted to 15.3 %.

EBT in Q3 totaled € 11.9 million, down 7.0 % (Q3 2019: € 12.8 million).

Gross profits in Q3 totaled € 9.3 million and were thus down by
10.6 % (Q3 2019: € 10.4 million).

Adjustmented view of the third quarter

In order to better assess the purely operational growth, the positive one-off effect of the prior-year quarter was eliminated in the following earnings analysis.

The adjusted gross profit for the third quarter amounted to € 35.8 million. Net income for the period was thus up 9.5 % year-on-year at € 39.2 million.

Adjusted EBITDA for the previous year amounted to € 16.6 million in the third quarter. Q3-EBITDA was thus up 7.2 % year-on-year at € 17.8 million.

Adjusted EBIT for the previous year amounted to € 10.8 million in the third quarter. Q3-EBIT was thus up 13.9 % year-on-year at € 12.3 million.

Adjusted EBT for the previous year amounted to € 10.4 million in the third quarter. Q3-EBT was thus up 14.4 % year-on-year at € 11.9 million.

The adjusted net income for the period for the third quarter amounted to € 8.0 million. Net income for the period in Q3 was thus up 16.3 % year-on-year at € 9.3 million.

After elimination of the positive one-off effect from the previous year, the third quarter of 2020 also marks new record results.

Outlook
The Board of Directors expects growth to continue in the fourth quarter - provided that neither tightened COVID-19 restrictions nor an early onset of winter inhibit business activity.

Due to the positive development, the company's management is raising its forecast for the whole of 2020. Revenue is expected to grow by between 5.0 % and 7.0 % year-on-year, with the EBIT ratio expected to be between 10.5 % and 11.5 % (in relation to total operating revenue).

The Board of Directors is also taking a positive view of 2021, even though the COVID-19 pandemic will continue to be a major challenge. Thanks to trend towards natural construction materials and the strong growth in timber construction, growth is expected to continue with sustained good profitability.

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 innovative wooden construction components and ecological insulation material supplement each other.

Laminated veneer lumber and I-joists form the structural components of the system. The insulation materials include flexible and stable wood fiber insulation panels, facade insulation materials, as well as cavity wall insulation made of wood fibers and cellulose. Sealing products for the building shell complete the overall system.

The STEICO Group offers its customers a unique range of products through to the prefabrication of complete components for timber element construction.

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 (Germany)
Fon: +49-(0)89-99 15 51-548
Fax: +49-(0)89-99 15 51-704
E-mail: [email protected]
www.steico.com



14.10.2020 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 - 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: 1140961

 
End of News DGAP News Service

1140961  14.10.2020 

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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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