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Steico: quarterly turnover exceeds €100m

16.11.2021 − 

In the third quarter, insulating board and LVL manufacturer Steico continued to improve its key results figures vis à vis both the comparative period of the preceding year and the second quarter of 2021; in several cases new records were achieved. Turnover for the quarter, at €101.8m, surpassed the €100m mark for the first time; the previous year’s figure was exceeded by 22.6%. The main driver of this growth was the German market (+34.6% to €44.0m), whereas development of the markets in France (+3.5% to €11.0m) and Great Britain (+16.5% to €9.5m) was somewhat milder. Turnover generated with wood-fibre insulating materials across all markets rose even more strongly than total turnover, with growth of 23.9% to €69.0m.

According to Steico, quotas continue to apply in the case of pressure-resistant insulating boards, whereas the supply situation for flexible insulation boards and air-injected insulation has eased somewhat. Concerning business with I-joists, Steico - according to company information - is benefiting from the continued recovery observed on the British market, an important market for this product category; on Continental European markets, the shortage of construction timber has led to a further increase in demand for I-joists. Both factors contributed to turnover generated with I-joist increasing by 39.8% to €14.6m in the third quarter. In the case of laminated veneer lumber (LVL), by contrast, turnover growth was slowed by the fact that capacities are fully utilised. In the comparative period last year, Steico had generated additional turnover by selling off stock. As a result, the third quarter was closed with a slight decline of 4.0% to €9.5m.

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