on STEICO Aktiengesellschaft (isin : DE000A0LR936)
STEICO SE: Positive Half-Year Performance with Cautious Outlook
Feldkirchen near Munich, 22 July 2024 – STEICO Group has released its half-year report for 2024. Sales in H1 2024 reached €190.8 million, maintaining the stabilisation trend seen in the previous year.
Earnings showed notable growth. EBITDA increased by 52.6% to €45.9 million, and EBIT doubled to €32.0 million. This rise was largely driven by earnings from currency hedging amounting to €19.8 million under German GAAP.
The Management Board cautions that such gains are unlikely to recur in the second half of 2024 or 2025. Additionally, they anticipate extra expenses as a new plant in Gromadka, Poland, becomes operational.
Assuming no adverse economic or competitive impacts, the Board expects annual sales to remain around €365 million. Despite the anticipated effects, they project a high EBIT of between €45 million and €50 million for 2024.
R. E.
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