Ad-hoc | 21 June 2023 12:56
Update of the sales and earnings forecast for 2023
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STEICO SE / Key word(s): Profit Warning
Update of the sales and earnings forecast for 2023 Feldkirchen near Munich, 21 June 2023 – (ISIN DE000A0LR936) – Based on current business figures, the Management Board of STEICO SE today updated the STEICO Group’s revenue and earnings forecast for the year 2023 as a whole. Sales are now expected to be around 15% below the previous year (previously: at previous year’s level) and EBIT is expected to be 8% to 10% (previously: 10% to 15%) in relation to total operating revenues. Although there are currently signs of a pick-up in demand, its momentum is below original expectations. Reasons for this include increasingly tough competition in the wood-fibre insulation segment and continued restraint on the part of STEICO customers. Management is responding to the current situation with short-term measures to reduce costs and ensure liquidity. As before, the management believes that STEICO is very well positioned in a future market and is confident that it can lead the Group back to growth in the medium and long term.
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21-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | STEICO SE |
| Otto-Lilienthal-Ring 30 | |
| 85622 Feldkirchen | |
| Germany | |
| Phone: | +49 – (0)89 – 99 15 51 – 0 |
| Fax: | +49 – (0)89 – 99 15 51 – 700 |
| E-mail: | info@steico.com |
| Internet: | http://www.steico.com |
| ISIN: | DE000A0LR936 |
| WKN: | A0LR93 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
| EQS News ID: | 1662361 |
| End of Announcement | EQS News Service |