Group Sales Fall by 7.1% to EUR 795.7 Million in the First Half of 2024

Sto SE & Co. KGaA announced a 7.1% decline in group sales to EUR 795.7 million for the first half of 2024. The company's performance was significantly impacted by negative market conditions and unfavorable weather.

The group EBIT fell by 49.7% to EUR 29.3 million, while EBT decreased by 47.7% to EUR 30.3 million. The EBT return on sales subsequently dropped from 6.8% to 3.8%. By the end of June, the company employed 5,784 people.

Sales in Western Europe, including Germany, saw an 8.4% decline due to weather and changes in government subsidies. The Americas/Asia/Pacific segment, however, experienced a contrasting trend with a 2.2% turnover increase. Despite this, overall group turnover in Germany decreased by 9.8%.

The company adjusted its annual forecast, now expecting a turnover of EUR 1.66 billion, with EBIT ranging from EUR 62 million to EUR 82 million and EBT between EUR 63 million and EUR 83 million. The medium-term targets for 2027 are also unlikely to be met.