Despite ongoing challenges in the construction sector, the Steico Group reported a 6.2% year-over-year increase in revenue, reaching €101.8 million in the first quarter of 2025 (Q1 2024: €95.9 million).
Total operating performance also rose by 4.7% to €97.5 million, compared to €93.2 million in the same period last year. This growth was driven by the relative resilience of timber construction, increased refurbishment activity across several markets, and stronger market penetration in high-potential growth segments.
EBITDA for the Steico Group amounted to €17.0 million, representing a 4.0% decline compared to the previous year. EBIT reached €8.9 million, down 17.6% from the prior year, with an EBIT margin of 9.2% relative to total operating performance.
Earnings were impacted by factors such as lower income from currency hedging, totaling €2.4 million, and the sale of surplus CO2 certificates, which generated €2.3 million. Additionally, depreciation and amortisation increased due to the partial commissioning of the Gromadka plant. However, when adjusted for these factors, the profitability of the core business showed a marked improvement.
Looking ahead, the company’s management does not anticipate a sustained recovery in the construction industry throughout 2025. The competitive landscape is also expected to remain challenging. As a result, the Executive Board forecasts growth of approximately 3%, bringing revenue to around €388 million. EBIT is expected to range between €27 million and €35 million, with an EBIT margin of 7% to 9%.
Steico is a global leader in the development, production, and marketing of ecological construction products made from renewable raw materials, and is the market leader in wood fibre insulation materials.
