pta20160425027
Public disclosure of inside information according to article 17 MAR

STEICO SE: Operating strength drives growth

Feldkirchen (pta027/25.04.2016/20:30 UTC+2) * Preliminary figures confirmed by final financial statements 2015
* The administrative board proposes a dividend of 0.15 Euro per share for the financial year 2015
* Earnings soar in first quarter 2016

Feldkirchen near Munich, 25. April 2016 - Today the STEICO group (ISIN DE000A0LR9369) released its annual report for the financial year 2015 and its interim report for the first quarter 2016.

Business Development 2015

KPI20152014
Revenue188.9 Mio. Eur174.7 Mio. Eur
Total operating revenue (TOR)190.1 Mio. Eur177.0 Mio. Eur
EBITDA24.7 Mio. Eur21.9 Mio. Eur
EBITDA-Margin in % TOR13.0 %12.4 %
EBIT 12.2 Mio. Eur10.0 Mio. Eur
EBIT-Margin in % TOR6.4 %5.7 %
Equity ratio in %
(as of 31.12.)49.7 %55.1 %
Consolidated net income8.1 Mio. Eur5.9 Mio. Eur
Earnings per share0.63 Eur0.46 Eur


The STEICO Group can look back on a successful year in 2015. Revenues were up by 8.1%, which meant that the previous years' growth has been continued. This is mostly due to the strong operating growth in the product groups for wood fiber insulation materials and I-joists. I-joists in particular have driven growth, and wood fiber insulation materials continue to be exposed to highly competitive prices.
The high level of production capacity uptake and the resulting improvements in efficiency have allowed earnings to grow by an above average amount. Growth in core business even compensated for downturns in the non-strategic segment of timber trading.

Earnings per share amounted to 0.63 Eur (previous year 0,46 Eur).

Dividend proposal
Based on the positive business development the board of administration proposes to the 2016 annual general meeting at June 23 to appropriate the net retained profits to pay a dividend of 0.15 Eur per share (dividend 2015: 0.12 Eur per share). The volume of the dividend distribution would amount to 1.920.472,50 Eur in total.

First Quarter 2016: Earnings soar
The weather in the first quarter of 2016 was comparatively mild and in many places it was possible to continue construction work. The STEICO Group recorded renewed revenue growth of 4.7%. The fact that revenues did not grow to a greater extent compared to the colder same quarter of the previous year is mostly due to the continued price pressure in the segment for wood fiber insulation materials. This means that the growth in quantities in this segment is substantially higher than revenue growth.

KPIQ1 2016Q1 2015
Revenue46.9 Mio. Eur44,8 Mio. Eur
Total operating revenue (TOR)48.7 Mio. Eur45,9 Mio. Eur
EBITDA8.2 Mio. Eur4,8 Mio. Eur
EBITDA-Margin in % TOR16,8%10,5%
EBIT 4.2 Mio. Eur1,7 Mio. Eur
EBIT-Margin in % TOR8.6%3.7%
Profit of the period2.7 Mio. Eur0.7 Mio. Eur


Two positive effects can be seen in results. STEICO is benefiting from the high level of capacity uptake for its production facilities and its growing export activities with high-margin specialty products.
In addition, sales of STEICO's I-joists are continuing to enjoy positive growth. During the first quarter, the new production facility for laminated veneer lumber (LVL) already helped substantially to reduce the amount of purchased LVL used when producing I-joists. The quantities of LVL produced will be increased constantly, which means that additional contributions to earnings from LVL production are expected in the coming months.

Outlook
In terms of revenues and earnings, Q1 2016 was the fourth consecutive record-breaking quarter. The company's management believes that the positive growth will continue and is forecasting revenues to grow in the upper single-digit percentage range in 2016 as a whole. Above average growth is expected for EBIT in the clear double-digit percentage range.

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Emitter: STEICO SE
Otto-Lilienthal-Ring 30
85622 Feldkirchen
Germany
Contact Person: Andreas Schulze
Phone: +49 89 991551-48
E-Mail: a.schulze@steico.com
Website: www.steico.com
ISIN(s): DE000A0LR936 (Share)
Stock Exchange(s): Free Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich (m:access), Stuttgart
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