Steico reports record-breaking revenues23 August 2019
The STEICO Group continued its growth in the first six months of 2019 with new record-breaking revenues and earnings.
It reports solid growth with revenues up by 13.6% to €139.6m. This positive growth is due to both construction products, including I-joists and LVL, and also insulation materials, including wood-fibre insulation.
Earnings also grew. EBITDA improved in the first six months by 21.3% to €26m and EBIT lifted by 10.5% to €13.7m. Net income for the period increased by 7.4% to €9.2m.
The EBITDA margin of 18.5% and the EBIT margin of 9.8% mean that STEICO has continued its growth with a constant high level of profitability.
The management is very positive about the second half of 2019. It said the European construction industry is proving to be “an anchor of stability despite the gloomy general economic outlook, and the timber construction segment continues to enjoy dynamic growth”.