The Steico Group continued its growth in the first six months of 2018 with new record-breaking revenues and earnings. The pace of sales was slightly slower, up by 7.2% to Euro 122.8 million. This was due to the poor weather conditions in the 1Q, which resulted in slower construction activity in the UK in particular, as the company said in the press release received by Lesprom Network.
EBITDA improved compared to the first six months of the previous year by 16.3% to Euro 21.4 million. EBIT lifted by 17% to Euro 12.4 million. Net income for the 1H 2018 increased by 32.8% to Euro 8.5 million.
Revenues of Euro 63.6 million were recorded in the 2Q 2018 (previous year: Euro 60.5 million), this corresponds to an increase of 5.1%. EBITDA in the 2Q 2018 lifted by 20% to Euro 12 million (previous year: Euro 10 million). EBIT grew by 26.7% compared to the same quarter of the previous year and totaled Euro 7.6 million. The EBITDA margin is 19.4%, the EBIT margin is 12.3%.
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.
