STEICO SE: Q1 2026 – delayed construction recovery due to harsh weather

Feldkirchen near Munich, 14 April 2026 - (ISIN DE000A0LR936) - The harsh winter had a significant impact on construction activity in Europe during the first quarter of 2026. This also affected demand for STEICO products. Revenue in the first quarter of 2026 amounted to €94.8 million, which is 6.9% lower than in the same period of the previous year (Q1 2025: €101.8 million), recognised under German GAAP.

EBITDA for the first quarter totals € 13.2 million, representing a decline of 22.4% (Q1 2025: €17.0 million). EBIT amounts to 6.2 million, down 29.6% on the previous year (Q1 2025: € 8.9 million). EBIT margin (as a percentage of total operating revenue) amounts to 6.7%. The first quarter was additionally marked by temporary cost increases. The low temperatures at the start of the year led to higher energy consumption, and the disruptions in the Middle East resulted in rising transport costs from March onwards.

The results are additionally influenced by lower income from currency hedging amounting to €1.0 million (Q1 2025: €2.4 million) and the sale of surplus CO₂ emission allowances amounting to €1.8 million (Q1 2025: €2.3 million). Adjusted for the effects of hedging and CO2, the profitability of the core business, in terms of gross profit*, improved once again.

Positive early indicators, such as rising numbers of building permits in Europe, suggest that construction activity is set to pick up in the coming quarters. However, the current geopolitical upheavals are affecting economic conditions in unpredictable ways, leading to supply chain disruptions and sharp rises in costs.

Provided the economic outlook does not deteriorate further, the management expects revenue for the full year 2026 to grow by between -2% and +4% compared with the previous year. This would correspond to revenue of around € 375 million to € 398 million. EBIT is expected to be between € 30 million and € 38 million. This would correspond to an EBIT margin of 8.0% to 9.5%.

* Gross profit = revenue +/- changes in finished goods and work in progress + other own work capitalised - cost of materials

 Company profile

The STEICO Group develops, produces and sells building products made from bio-based raw materials. STEICO is the global market leader in the wood fibre insulation materials segment. STEICO is positioned as a system provider and is the only manufacturer in the industry to offer an integrated timber construction system in which innovative timber structures and bio-based insulation materials complement each other.

The insulation materials include flexible wood fibre insulation bats, stable wood fibre insulation boards and air-injected insulation materials made from wood fibres and cellulose. Laminated veneer lumber and I-joists form the structural components of the system. Sealing products for the building envelope and plaster components for façade insulation round off the overall system.

The STEICO Group offers its customers a wide range of products, including the prefabrication of complete components for timber element construction.

The Munich-based company‘s products are suitable for both new builds and the renovation of roofs, walls, ceilings, floors and façades. STEICO products can contribute to the construction of future-proof, energy-efficient buildings with a particularly high quality of living. They help to permanently improve protection against cold, heat and noise.

Contact
STEICO SE
Andreas Schulze
Head of Investor Relations
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Phone: +49-(0)89-99 15 51-548
Fax: +49-(0)89-99 15 51-704
E-mail: a.schulze@steico.com
www.steico.com

This document is a courtesy translation of the German original document.
The translation has been prepared with utmost care. However, only the German original document is binding.