Based on the current fast-track consolidation, preliminary revenues of the Steico Group total around Euro 445.3 million in 2022. This corresponds to an increase of around 14.7% (previous year: Euro 388.2 million). Steico is now using the winter months again to replenish its own inventories in order to be well equipped for the coming construction season. Preliminary total operating revenues thus total Euro 467.5 million (previous year: Euro 395.6 million), up by 18.2%.
In terms of earnings, provisional EBIT amounts to Euro 63.8 million (previous year: Euro 67.6 million). The EBIT margin in terms of total operating revenue amounts to around 13.7% (previous year: 17.1%) and is thus in line with expectations. However, it must be taken into account that 2022 earnings were depressed in the amount of Euro 11.8 million by negative one-off effects from EUR/PLN currency hedging (previous year: +€ 3.4 million).
Despite increased challenges from high inflation, increased interest rates and more intense competition, the company’s management is taking a positive view of 2023. They expect renewed mid-range single-digit percentage revenue growth and an EBIT margin of between 12% and 15% (in terms of total operating revenue). The company’s management is still convinced that demand for ecological construction materials will continue to enjoy dynamic growth and is aiming for revenues to grow to around Euro 750 million by 2026.
Steico develops, produces and markets ecological construction products made of renewable raw materials and is the global market leader for wood fibre insulation materials.
