The Steico Group continues to face a very challenging environment due to the weak construction industry. Nevertheless, revenue increased by 6.2% to Euro 101.8 million in the Q1 2025 (previous year: Euro 95.9 million). At Euro 97.5 million, total operating performance was up 4.7% on the previous year (Euro 93.2 million). The reasons for this growth are the relative strength of timber construction, the rising refurbishment activity in many markets and the increasing market penetration in attractive growth markets and segments.
At Euro 17.0 million, EBITDA was down 4.0% on the previous year, while EBIT totalled Euro 8.9 million, down 17.6% on the previous year. The EBIT ratio is 9.2% % (in relation to total operating performance).
Earnings are influenced, among other things, by lower income from currency hedging totalling Euro 2.4 million and the sale of unneeded CO2 certificates amounting to Euro 2.3 million. At the same time, depreciation and amortisation increased with the partial commissioning of the Gromadka plant. Adjusted for these effects, however, the profitability of the underlying business improved noticeably.
The company management does not yet expect a sustained recovery in the construction industry for 2025 as a whole. In addition, the competitive situation is likely to remain tense. The Executive Board therefore anticipates growth of 3% to around Euro 388 million. In terms of earnings, an EBIT ratio of between around 7% and 9% is expected, which corresponds to EBIT of between around Euro 27 million and Euro 35 million.
Steico develops, produces and markets ecological construction products made of renewable raw materials. Steico is the global market leader for wood fibre insulation materials.
