Q1 Report 2025

The STEICO Group continues to face a very challenging environment due to the weak construction industry. Nevertheless, revenue increased by 6.2% to € 101.8 million in the first quarter 2025 (previous year: € 95.9 million). At € 97.5 million, total operating performance was up 4.7% on the previous year (€ 93.2 million). The reasons for this growth are the relative strength of timber construction, the rising refurbishment activity in many markets and the increasing market penetration in attractive growth markets and segments.

At € 17.0 million, EBITDA was down 4.0% on the previous year (€ 17.8 million), while EBIT totalled

• 8.9 million, down 17.6% on the previous year (€ 10.8 million). The EBIT ratio is 9.2% (in relation to total operating performance).

Earnings are influenced, among other things, by lower income from currency hedging totalling € 2.4 million (previous year: € 7.4 million) and the sale

of unneeded CO2 certificates amounting to € 2.3 million (previous year: € 0.8 million). At the same time, depreciation and amortisation increased with the partial commissioning of the Gromadka plant. Adjusted for these effects, however, the profitability of the underlying business improved noticeably.

The company management does not yet expect a sustained recovery in the construction industry for 2025 as a whole. In addition, the competitive situation is likely to remain tense. The Executive Board therefore anticipates growth of 3% to around

• 388 million (previous year: € 376.3e* million). In terms of earnings, an EBIT ratio of between around 7% and 9% is expected, which corresponds to EBIT of between around € 27 million and € 35 million.

Dislaimer

10.8 -17.6%

8.9

Company profile

STEICO develops, produces and markets ecological construction products made of renewable raw materials. STEICO is the global market leader for wood fi bre insulation materials.

STEICO is positioned as a system provider for ecological residential construction and is the only manufacturer in the industry to offer an integrated wooden construction system in which innovative wooden construction components and ecological insulation material supplement each other. Laminated veneer lumber and I-joists form the structural components of the system. The insulation materials include fl exible and stable wood fi bre insulation panels, facade insulation materials, as well as cavity wall insulation made of wood fi bres and cellulose.

Sealing products for the building shell complete the overall system.

The STEICO Group offers its customers a unique range of products through to the prefabrication of complete components for timber element construction.

The Munich-based company's products are used in new construction and when renovating roofs, walls, ceilings, fl oors and façades. STEICO's products allow the construction of future-proof, healthy buildings with a particularly high quality of living and a healthy atmosphere. STEICO's products offer reliable protection against cold, heat and also noise, and they permanently improve the building's energy efficiency.