Update of the sales and earnings forecast for 2023

Feldkirchen near Munich, 21 June 2023 - (ISIN DE000A0LR936) - Based on current business figures, the Management Board of STEICO SE today updated the STEICO Group's revenue and earnings forecast for the year 2023 as a whole. Sales are now expected to be around 15% below the previous year (previously: at previous year's level) and EBIT is expected to be 8% to 10% (previously: 10% to 15%) in relation to total operating revenues.

Although there are currently signs of a pick-up in demand, its momentum is below original expectations. Reasons for this include increasingly tough competition in the wood-fibre insulation segment and continued restraint on the part of STEICO customers.

Management is responding to the current situation with short-term measures to reduce costs and ensure liquidity. As before, the management believes that STEICO is very well positioned in a future market and is confident that it can lead the Group back to growth in the medium and long term.

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