Corporate | 21 January 2008 14:54
STEICO Aktiengesellschaft / Miscellaneous/Forecast
Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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STEICO forecasting sales increase when Weyerhaeuser withdraws from European
market
Feldkirchen (Munich) – STEICO AG is forecasting revenues of around EUR 1.5
million after successfully launching its innovative I-joist products in
2007. STEICO is listed in Frankfurt Stock Exchange's Entry Standard. The
company specializes in ecological insulation materials and is forecasting
sales from I-joists to lift to around EUR 12 million. These joists are made
of wood and wood materials and have been optimized in terms of weight,
dimensions and their load-bearing characteristics. These will account for
around 10% of STEICO's revenues in future.
'Strengths being totally redistributed'
'Weyerhaeuser is withdrawing from the European market, further bolstering
this forecast,' pointed out Thomas Frei, STEICO AG's CFO. The US-based
company intends to focus more strongly on the American market. As
Weyerhaeuser announced on January 14, the Finnish company Finnforest, part
of the Metsäliitto Group, acquired the assets, in particular the company's
customers. Weyerhaeuser did not have any production facilities in Europe.
'This development will lead to strengths on the European I-Joist market
being totally redistributed,' commented Frei. 'STEICO has Europe's largest
production facility for I-joists. We will be able to make better use of
this advantage given the changed situation.'
According to the CFO, I-Joists are one of STEICO AG's most important
future-proof products. The company sells directly to wholesalers, the
construction materials trade, woodworking companies and the prefabricated
homes industry. Its largest markets are traditionally the United Kingdom
and Scandinavia. The remainder of Western Europe is also recording strong
growth, with this increasingly being seen in Germany and France. The
European market volume was forecast to be around EUR 136 million in 2007.
'We believe that the market potential will double over the medium term,'
commented Mr. Frei.
Company profile
The STEICO Group develops, produces and sells ecological construction
products made of renewable natural resources. STEICO AG leads the European
market for wood fibre insulation materials with a market share of more than
35%. The company also enjoys top rankings for its highly effective cost
structure as well as its Germany-based Research and Development activities.
With the launch of new STEICO products 'Hemp insulation materials'
and'I-joists' as construction elements for residential construction, the
company has grown to become a system provider for ecological construction
products. The production of natural fibre boards (NFB) as components for
the I-joists rounds off STEICO‘s vertical integration, unique for the
industry. The Munich-based company‘s products are successfully used in
house construction applications for floors, walls, ceilings and roofs.
The corporate group's goal is to pursue, through clear and transparent
strategy, the recent growth reflected in double-digit turnover and profit
figures. Existing and new products, also those targeting new customers,
constitute the focus of corporate strategic planning. By means of the IPO
proceeds of June 2007 the company is in a good position to both strengthen
the core group activities and accelerate the growth process.
Contact:
Andreas Schulze
STEICO Aktiengesellschaft
Hans-Riedl-Strasse 21
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-97
E-Mail: schulze@steico.com
www.steico.com
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21.01.2008 Financial News transmitted by DGAP
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Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen
Deutschland
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 99
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in
Frankfurt
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