STEICO SE STEICO 2017 Half-year report
6• STEICO proves profitabilityThe green share
M2017
Second quarter is most successful in the company's
history in terms of revenues and earnings
Natural building products forhealthier living
Overview
Record-breaking figures in H1. STEICO proves profitability.
Revenue growthin € millions
Gross earnings growthin € millions
125 100
101.2
+13.2%
114.6
50 46.3
40
+7.6%
49.8
75 30
50 20
€ m
€ m
25 10
H1 2016
H1 2017
H1 2017
EBITdA growthin € millions
H1 2016
EBIT growthin € millions
10.6
20
17.4
16
+5.7%
18.4
109.7
8
+9.3%
12 6
8 4
€ m
€ m
4 2
H1 2016
H1 2017
EBT growthin € millions
+8.8%
9.9
H1 2016
H1 2017
Growth in profit for the periodin € millions
10
8
6
4
€ m
2
9.1
6.0 +6.7%6.4 | ||||
7.5
6.0
4.5
3.0
€ m
1.5
H1 2016
H1 2017
H1 2016
H1 2017
| AddITIONAl KPIS
H1 2017 2016 as a whole H1 2016
1. | Total operating revenue in € millions | € 113.2 million | € 210.8 million | € 105.8 million |
2. | EBITDA margin as a percentage of total operating revenue | 16.3% | 15.7% | 16.5% |
3. | EBIT margin as a percentage of total operating revenue | 9.3% | 8.7% | 9.2% |
4. | Equity ratio | 43.4% | 47.6% | 47.5% |
As a result of reclassifications as a result of the application of BilRUG there are minor differences compared to the previous year's figures. Percentage increases calculated based on rounded figures.
2 STEICO 2017 Half-year report
STEICO2017Half-yearreport
As a result of the high demand STEICO was able to run its production lines at practically full capacity in the first half of 2017 and its revenues lifted by 13.2% to € 114.6 million. Positive sales also meant that stocks of finished goods fell by around € 1.5 million with total operating revenue totaling € 113.2 million.
Earnings also enjoyed pleasing growth. After the massive devaluation of pounds sterling in the second half of 2016 hampered margin growth, STEICO returned to its usual profitability in the first half of 2017 which has just drawn to a close. It was possible to increase margins significantly despite
the continuing impact of exchange rates. Margins have now returned to the levels recorded in the first half of 2016, which was unusually strong, and they are already higher than the total level recorded in the whole of 2016.
STEICO has also recorded new record-breaking results in terms of its absolute figures for the first half of 2017. EBITDA totalled
€ 18.4 million (previous year: € 17.4 million), and EBIT amounted to € 10.6 million (previous year: € 9.7 million). Net income for the period amounted to € 6.4 million (previous year: € 6.0 million).
Taken in isolation, the second quarter also confirmed the positive trend. It has been the most successful in STEICO's history in terms of both revenues and earnings.
Management believes that the positive growth will continue. As no external negative influences are expected in the second half of the year, management believes that the second half of the year will be significantly stronger than in the previous year.
For the year as a whole, management is forecasting revenues and EBIT to grow in the low double digit percentage range.
Company profile
STEICO 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.
It 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.
STEICO2017 Half-year report 3
Development of STEICO's sharesPRICE dEVElOPmENT
STEICO's shares started the first six months of the year with a price of € 13.22 on 2 January 2017, which was their lowest price in this period. They peaked on 13 June 2017 at € 21.38.
STEICO's shares closed at a price of € 19.40 in Xetra trading on 30 June. This corresponds to an increase in value of 46.7% in the first six months.
Deutsche Börse introduced a new segment for small and medium-sized companies on 1 March 2017. The new segment is called "Scale" and replaces the previous "Entry Standard". After careful consideration, the managing board and managing directors of STEICO SE decided not to change to the new segment for the time being. Although STEICO SE meets all of the conditions required for listing, management does not believe that changing its segment would bring any notable added value for STEICO's shareholders.
STEICO SE thus continues to be listed on the "Basic Board" and in "m:access", a high quality segment for medium- sized companies on the Bavarian Stock Exchange. This decision will not impact the tradeability of STEICO's shares, which can still be traded on Xetra and on regional stock exchanges.
INVESTOR RElATIONS
60
50
40
30
20
10
0
-10
2 January 2017
31 January 2017
28 February 2017
31 March 2017
28 April 2017
31 May 2017
30 June 2017
in %
STEICO SE
As was the case in previous years, STEICO SE engaged in open and direct communication with the capital markets in the first six months, and was also in close contact with its shareholders. The company presented itself to a broad audience of institutional and retail investors at several capital markets conferences. In addition, the company's management also met with numerous analysts and investors in face-to-face discussions, both at its offices in Feldkirchen and also at national and international roadshows.
STEICO SE meets its publication requirements and surpasses the requisite transparency guidelines, for example by regularly publishing quarterly reports. In addition, up-to-date press releases and financial reports are also always published on the Web site www.STEICO.com / ir. Information on key events is disseminated via a well-known institution to comply with publicity obligations. In addition, key notices for the capital markets and financial reports are also published in English.
CAPITAl mARKET dIARy 2017
date | Activity |
5 / 6 February 2017 | STEICO presents the company at the "20th Oddo Forum", held by Oddo BHF Bank in Lyon |
6 February 2017 | Publication of provisional figures for 2017 |
7 February 2017 | STEICO presents the company at the "12th HSBC SRI Conference" (Frankfurt a. M.) |
15 / 16 February 2017 | STEICO presents the company at the "11th German Conference" held by Oddo BHF Bank |
26 April 2017 | Publication of the 2016 STEICO annual report and publication of STEICO's 2017 Q1 report |
9 / 10 May 2017 | STEICO presents the company to institutional investors in Brussels, Cologne and Düsseldorf (roadshow with Oddo BHF Bank) |
22 June 2017 | Ordinary general meeting of STEICO SE |
4 / 5 June 2017 | STEICO presents the company to institutional investors Paris and Frankfurt am Main (roadshow with Oddo BHF Bank) |
13 / 14 July 2017 | STEICO presents the company to institutional investors in Zurich and London (roadshow with Oddo BHF Bank) |
17 July 2017 | Publication of the 2017 half-year report |
October 2017 | Planned publication of the Q3 report 2017 |
13 December 2017 | STEICO presents the company at the Munich Capital Market Conference (MKK) |
4 STEICO 2017 Half-year report
Steico SE published this content on 17 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 July 2017 18:52:05 UTC.
Original documenthttp://www.steico.com/fileadmin/steico/content/Investor_Relation/Downloads_2017/Finanzberichte/STEICO_EN_Half-Year-Report_2017.pdf
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