Sto SE & Co (STO3) Q1 2026 earnings summary

Executive summary

• 2025 turnover reached EUR 1,591 million, down 1.3% year-over-year, with declines in both Germany and international markets due to weak construction activity.

• EBIT improved by 9.5% to EUR 64.4 million and EBT by 7.2% to EUR 65.3 million, with return on sales rising to 4.1%.

• Cash flow from operating activities increased to EUR 94.5 million.

• Workforce reduced by 117 to 5,482 employees at year-end 2025, and by 77 year-over-year in Q1 2026, with restrictive recruitment and downsizing.

• Q1 2026 turnover declined 1.9% to EUR 318.5 million, impacted by adverse weather and construction sector downturn, with the typical Q1 deficit increasing year-over-year.

Financial highlights

• 2025 investments rose 20% to EUR 44 million; depreciation/amortisation at EUR 41.6 million.

• ROCE increased to 8.7% in 2025 from 7.8% in 2024.

• Equity ratio at 66% with equity capital of EUR 762 million as of 31/12/2025.

• Earnings per limited ordinary share at EUR 6.07; dividend proposal of EUR 3.00 per share.

• Q1 2026 investments in property, plant, and equipment and intangible assets totaled EUR 5.5 million, down 3.5% year-over-year.

Outlook and guidance

• 2026 guidance: turnover of approx. EUR 1.62 billion, EBIT between EUR 56–76 million, EBT EUR 55–75 million, return on sales (EBT) 3.3–4.7%, ROCE 7.4–10.2%.

• Forecast assumes average weather, stable euro, and no major geopolitical disruptions.

• April 2026 turnover exceeded both prior year and expectations.