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DGAP-News: STEICO SE
/ Key word(s): Annual Results
STEICO SE: growth continues in Q4 2020 * Sales forecast for 2020 increased, positive trend continues in 2021 Feldkirchen (Munich), 11 January 2021 - The STEICO Group (ISIN DE000A0LR936) continued to see an unabated rise in demand in the fourth quarter of 2020. The positive annual trend continued for both wood fibre insulation and construction products. Despite the continued restrictions due to COVID-19, growth in the construction industry continued mostly without restrictions in the fourth quarter of 2020. Thanks to dynamic demand on the core markets, especially in Germany, it is possible to more than compensate for developments in weaker markets such as the UK. As a result of the high level of demand, delivery times have been building up across almost all product groups since the third quarter, continuing throughout the entire fourth quarter of 2020, and these have not yet been reduced. Growth to date already allows initial conclusions to be drawn about 2020 as a whole. Based on the current accounting status the Board of Directors has raised its revenue forecast to around €307-308m, which corresponds to revenue growth of around 9.5%. With regard to the results, the Board of Directors confirms the previous expectations with an EBIT ratio of between 10.5% and 11.5% (in relation to total operating revenue). The Board of Directors remains very positive about 2021 and expects demand to remain strong due to the high order book and dynamic order intake. Capacity expansions already implemented at existing plants and the construction of new production capacities already underway should ensure that the current on-track growth can be continued over both the short and long term. Preliminary 2020 financials are expected to be released in early February, along with guidance for 2021. The corporate news can be downloaded from www.steico.com/ir. 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
11.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | info@steico.com |
| 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: | 1159884 |
| End of News | DGAP News Service |
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1159884 11.01.2021
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