Steico's revenues improved by 27.1% to Euro 237.5 million in the first six months of 2022. Despite the more demanding environment, earnings and margins were at a pleasing level. EBITDA improved by 21.8% to Euro 50.4 million and EBIT lifted by 23.5% to Euro 38.5 million. The EBITDA margin in the first six months is 23.0%, the EBIT margin is 15.9%.
Inflation, supply chain difficulties and increasing interest rates are currently slowing economic expectations in the construction sector. In spite of this, however, STEICO’s management is continuing to take a positive view of the year as a whole. As a result of the strong trend to natural construction materials, the company expects that timber construction will remain strong in a more difficult market environment. In addition, as a result of the increasing costs of energy and increasing state subsidies, a substantial increase in renovation activities is also expected. Finally, the existing order backlog should have a stabilising impact on the construction industry - and in particular on timber construction.
STEICO develops, produces and markets ecological construction products made of renewable raw materials and is the global market leader for wood fibre insulation materials.
