BRIEF

on STEICO Aktiengesellschaft (isin : DE000A0LR936)

STEICO SE: Positive Half-Year Performance with Cautious Outlook

Stock price chart of STEICO Aktiengesellschaft (EBR:ST5) showing fluctuations.

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.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all STEICO Aktiengesellschaft news