STEICO SE (ISIN DE000A0LR936) released its Half-Year Report 2026 today, revealing that revenue for the first six months reached EUR 200.3 million, a 0.6% increase compared to the prior year's EUR 199.1 million. The growth was driven by a strong second quarter as the construction season began, offsetting a weaker first quarter. However, the company faced significant cost increases due to the US-Iran conflict and resulting supply chain disruptions, which have impacted profitability.
EBITDA for the first half fell to EUR 29.0 million, down 22.1% from EUR 37.2 million in the same period last year. EBIT declined by 30.8% to EUR 14.7 million, compared to EUR 21.2 million previously. The EBIT margin stood at 7.5% at the end of the first half, down from 10.6% a year earlier. The company noted that price increases implemented to offset rising costs are taking effect with a time lag, which has weighed on margins.
Despite these challenges, the Executive Board expects further growth in the second half of 2026 and anticipates profit margins will continue to improve. Management has confirmed its full-year forecast for 2026, projecting revenue growth between -2% and +4% compared to the prior year, which would correspond to revenue of approximately EUR 375 million to EUR 398 million. EBIT is expected to be between EUR 30 million and EUR 38 million, implying an EBIT margin of 8.0% to 9.5%. The outlook is contingent on the economic environment not deteriorating further.
STEICO, a global market leader in wood fibre insulation materials, offers a comprehensive range of bio-based building products for new construction and renovation. The complete financial report is available at https://www.steico.com/en/investor-relations/.
The impact of geopolitical tensions on supply chains and input costs is a key concern for the construction industry. STEICO's results highlight how external factors can affect even well-positioned companies. The confirmation of the full-year guidance provides some reassurance, but the margin pressure underscores the need for effective cost management and pricing strategies.
