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 Euro 139.6 million. This positive growth is due to both construction products and also insulation materials, as the company says in the press release received by Lesprom Network.
Earnings also enjoyed pleasing growth. EBITDA improved in the first six months by 21.3% to Euro 26 million and EBIT lifted by 10.5% to Euro 13.7 million. Net income for the period increased by 7.4% to Euro 9.2 million.
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.
Revenues of Euro 68.7 million were recorded in the 2Q 2019, compared to Euro 63.6 million in the 2Q 2018. This corresponds to an increase of 7.9%. Total operating revenues amounted to Euro 69.7 million (previous year: Euro 61.7 million) Gross profits amounted to Euro 32.9 million in the 2Q 2019.
Steico develops, produces and markets ecological construction products made of renewable raw materials. Steico is the European market leader for wood fiber insulation materials.
