STEICO (ST5) Q1 2025 earnings summary

Executive summary

• Revenue grew 6.2% year-over-year to €101.8 million in Q1 2025, despite a weak construction sector.

• Growth driven by timber construction strength, increased refurbishment, and market penetration.

Financial highlights

• Total operating performance rose 4.7% to €97.5 million compared to Q1 2024.

• EBITDA decreased 4.0% to €17.0 million; EBIT fell 17.6% to €8.9 million year-over-year.

• EBIT ratio was 9.2% of total operating performance.

• Lower income from currency hedging (€2.4M vs. €7.4M prior year) and higher CO2 certificate sales (€2.3M vs. €0.8M) impacted earnings.

Outlook and guidance

• No sustained recovery in the construction industry expected for 2025.

• Anticipated revenue growth of 3% to around €388 million for the full year.

• EBIT ratio forecasted between 7% and 9%, equating to €27–35 million EBIT.

• Competitive environment expected to remain tense.