STEICO (ST5) Q2 2025 earnings summary

Executive summary

• Revenue increased by 4.4% year-over-year to €199.1 million in H1 2025, with growth momentum slowing in Q2 but profitability improving sequentially.

• EBIT declined 34.0% year-over-year to €21.2 million, mainly due to lower positive effects from currency hedging compared to the prior year.

• Net profit for the period was €10.6 million, down 46.4% from H1 2024.

• The company remains the global market leader in wood fibre insulation materials and continues to expand its integrated timber construction system.

Financial highlights

• H1 2025 revenue: €199.1 million (up 4.4% year-over-year); total operating performance: €204.2 million (up 5.2%).

• Gross profit: €99.6 million (down 1.7% year-over-year); gross margin improved by 3.0 percentage points excluding currency and CO2 effects.

• EBITDA: €32.0 million (down 19.1% year-over-year); EBIT: €21.2 million (down 34.0%).

• Net income: €10.6 million (down 46.4% year-over-year).

• Equity ratio: 57.6% as of June 29, 2025 (virtually unchanged from 57.8% at year-end 2024).

Outlook and guidance

• Management confirms full-year 2025 guidance: revenue growth of 3–6% (targeting €388–399 million).

• EBIT expected between €29 million and €35 million for the full year.

• Despite a challenging environment and a production disruption, management expects to meet published forecasts.