DGAP-News: STEICO SE: Continued growth with margins soaring
DGAP-News: STEICO SE / Key word(s): Final Results/Quarter Results
STEICO SE: Continued growth with margins soaring
26.04.2017 / 21:45
The issuer is solely responsible for the content of this announcement.
STEICO SE: Continued growth with margins soaring
* Preliminary figures confirmed by final financial statements 2016
* The administrative board proposes a dividend of 0.18 Euro per share for the financial year 2016
* Solid and profitable growth in first quarter 2017
Feldkirchen near Munich, 26. April 2017 - Today the STEICO group (ISIN DE000A0LR9369) released its annual report for the financial year 2016 and its interim report for the first quarter 2017.
Business Development 2016
KPI
2016
2015
Revenue
208.9 Mio. EUR
188.9 Mio. EUR
Total operating revenue (TOR)
210.8 Mio. EUR
190.1 Mio. EUR
EBITDA
33.2 Mio. EUR
24.7 Mio. EUR
EBITDA-Margin in % TOR
15.7 %
13.0 %
EBIT
18.3 Mio. EUR
12.2 Mio. EUR
EBIT-Margin in % TOR
8.7 %
6.4 %
Equity ratio in %
(as of 31.12.)
47.6 %
49.7 %
Consolidated net income
11.6 Mio. EUR
8.1 Mio. EUR
Earnings per share
0.90 EUR
0.63 EUR
The STEICO Group brought 2016 to a close with new record-breaking earnings. Revenues were up by 10.6% to EUR 208.9 million.
The "Brexit" vote and the subsequent weakening of sterling did slow the pace of growth, however on the whole both wood-fiber insulation materials and also i-joists and laminated veneer lumber recorded substantial growth.
In 2016, STEICO benefited in particular from the high capacity uptake in its insulation material lines and the positive impact of taking its own production line for laminated veneer lumber into operation. As a result, earnings enjoyed above-average growth.
EBITDA improved by 34.4% to EUR 33.2 million. EBIT lifted by 50.0% to EUR 18.3 million. Net income for the period was up 43.2% year-on-year at EUR 11.6 million.
Earnings per share amounted to EUR 0.90 (previous year: EUR 0.63).
Dividend proposal
Based on the positive business development the board of administration proposes to the 2017 annual general meeting at June 22 to appropriate the net retained profits to pay a dividend of 0.18 EUR per share (dividend 2016: 0.15 EUR per share). The volume of the dividend distribution would amount to 2,304,567.00 EUR in total.
First quarter 2017: solid and profitable growth
The STEICO Group was able to continue its growth in the first quarter of 2017. New record-breaking figures were recorded once again for both revenues and earnings. Revenue improved by 15.6% to EUR 54.2 million. As a result of changes in inventories, growth in total operating revenue was slightly less, up 11.6% to EUR 54.9 million. Both environmentally friendly insulation materials as well as
I-joists and laminated veneer lumber contributed to the renewed revenue growth. Earnings also enjoyed pleasing growth and were up substantially year on year.
KPI
Q1 2017
Q1 2016
Revenue
54.2 Mio. EUR
46.9 Mio. EUR
Total operating revenue (TOR)
54.9 Mio. EUR
49.2 Mio. EUR
EBITDA
8.5 Mio. EUR
8.1 Mio. EUR
EBITDA-Margin in % TOR
15.5 %
16.5 %
EBIT
4.6 Mio. EUR
4.1 Mio. EUR
EBIT-Margin in % TOR
8.4 %
8.3 %
Profit of the period
2.9 Mio. EUR
2.7 Mio. EUR
The company's management believes that the positive growth will continue and is forecasting fiscal year 2017 to be strong.
Outlook
If the economy does not deteriorate, the company's management is aiming for year-on-year revenue growth in the upper single-digit percentage range. In terms of both EBITDA and EBIT, slightly above average growth in the low single-digit percentage range is forecast for 2017.
The complete financial reports can be downloaded at www.steico.com/ir
Company Profile:
STEICO develops, produces and markets ecological construction products made of renewable raw materials. STEICO is the European market leader for wood fiber insulation materials.
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 insulation material and construction components supplement each other. These include flexible and stable wood fiber insulation panels, composite thermal insulation systems, insulation panels with a reinforcing effect, as well as cavity wall insulation made of wood fibers and cellulose.
The construction elements comprise I-joists and laminated veneer lumber. In addition, the STEICO group also produces fiberboard and operates in the wood trade. 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:
Andreas Schulze
STEICO SE
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-98
E-Mail: a.schulze@steico.comwww.steico.com
26.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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 - 99
E-mail:
info@steico.com
Internet:
http://www.steico.com
ISIN:
DE000A0LR936
WKN:
A0LR93
Listed:
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market (Basic Board) in Frankfurt
End of News
DGAP News Service
567927 26.04.2017