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    ST5   DE000A0LR936

STEICO SE

(ST5)
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PRESS RELEASE : STEICO SE: H1 2021: Revenues up by around 30%. EBIT lifts 2.5-fold year-on-year.

07/19/2021 | 02:31pm EDT
DGAP-News: STEICO SE / Key word(s): Half Year Results 
STEICO SE: H1 2021: Revenues up by around 30%. EBIT lifts 2.5-fold year-on-year. 
2021-07-19 / 20:30 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
STEICO SE: H1 2021: Revenues up by around 30%. EBIT lifts 2.5-fold year-on-year. 
Feldkirchen near Munich, 19 July 2021 - Today the STEICO Group (ISIN DE000A0LR936) released its half-year report 2021. 
Business Development H1 2021 
KPI                             H1 2021  H1 2020 
Revenues                       186.8 EURm 144.2 EURm 
Total operating revenue (TOR)  185.5 EURm 142.3 EURm 
EBITDA                          41.4 EURm  23.7 EURm 
EBITDA-Margin in % TOR           22.3 %   16.6 % 
EBIT                            31.1 EURm  12.2 EURm 
EBIT-Margin in % TOR             16.8 %    8.6 % 
Consolidated net income         21.1 EURm   7.5 EURm 
Equity ratio in %                53.2 %   53.0 % 
(30.06.2021 to 31.12.2020) 

Climate protection, CO[2]-saving construction and energy efficiency are defining social issues. Given this background, demand for STEICO's ecological insulation materials and construction products has increased once again. As a result, new records were set for both revenues and earnings in the first half of the year.

Revenues were up 29.6% year-on-year at EUR 186.8 million. EBIT improved by 155.1% to EUR 31.1 million and net income for the period in the first six months lifted by 181.5% to EUR 21.1 million. Profitability also grew substantially with an EBIT ratio of 16.8%. However, in a comparison with the previous year, it should be noted that the second quarter of 2020 was weaker due to the effects of the COVID-19 pandemic.

Q2 2021 - viewed in isolation

Revenues of EUR 96.2 million were recorded in the second quarter (previous year: EUR 69.7 million) This corresponds to an increase of 37.9%. Total operating revenues amounted to EUR 97.2 million (previous year: EUR 69.8 million)

Gross profits amounted to EUR 46.8 million (previous year: EUR 31.9 million).

EBITDA in the second quarter increased by 93.3% to EUR 22.4 million (previous year: EUR 11.6 million). EBIT lifted by 180.7% to EUR 17.3 million (previous year: EUR 6.2 million). The EBITDA margin is 23.0% (previous year: 16.6%), the EBIT margin is 17.8% (previous year: 8.9%).

Outlook Due to the friendly market environment, growth is expected to continue in the second half of 2021 - although growth rates are likely to be somewhat lower due to the already very strong second half of the previous year. Management is therefore raising its expectations for the current fiscal year. Unless there are additional negative effects from developments in the pandemic, the Board of Directors believes that in 2021 revenues will lift by around 20% with an EBIT ratio between 14.0% and 17.0% (in terms of total operating revenue).

The complete financial report can be downloaded at https://web.steico.com/en/investor-relations/ir-overview/ Company Profile The STEICO Group develops, produces and markets ecological construction products made of renewable raw materials. STEICO is the European market leader in the wood-fibre insulation materials segment.

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.

Laminated veneer lumber and I-joists form the structural components of the system. Insulation materials 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. Sealing products for the building shell round off the overall system.

The STEICO Group offers its customers a unique range of products up to the prefabrication of complete building components for wood 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.

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 51-548 Fax: +49-(0)89-99 15 51-704 E-Mail: a.schulze@steico.com www.steico.com -----------------------------------------------------------------------------------------------------------------------

2021-07-19 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 - 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:  1220083 
 
End of News   DGAP News Service 
=------------ 

1220083 2021-07-19

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1220083&application_name=news 
 

(END) Dow Jones Newswires

July 19, 2021 14:30 ET (18:30 GMT)

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Financials
Sales 2021 375 M 439 M 439 M
Net income 2021 42,1 M 49,3 M 49,3 M
Net Debt 2021 100,0 M 117 M 117 M
P/E ratio 2021 38,4x
Yield 2021 0,33%
Capitalization 1 614 M 1 890 M 1 891 M
EV / Sales 2021 4,57x
EV / Sales 2022 4,01x
Nbr of Employees 1 907
Free-Float 38,9%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 114,60 €
Average target price 112,25 €
Spread / Average Target -2,05%
EPS Revisions
Managers and Directors
Udo Detlev Schramek Chairman-Supervisory Board, CEO & MD-Auditing
David Meyer MD-Finance, Accounting & Controlling
Uwe Lange MD-Investments & Equipment Technology
JŘrgen Klass Member-Supervisory Board
Katarzyna Schramek Member-Supervisory Board
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