STEICO Aktiengesellschaft / Quarter Results 16.06.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Q1 2008 figures: STEICO AG's revenues at previous year's level - Weaker sales market impacts growth and earnings - Continued positive perspectives Feldkirchen (Munich), June 16, 2008 The STEICO Group's revenues totaled EUR 25.0 million in the first quarter of 2008, thus up 2.3% compared to Q1 2007 (EUR 24.5 million). Growth has slowed as the markets for the group's products have weakened. This slowdown has stemmed, in particular, from the ongoing financial and credit crisis. In addition, the temporary sluggish purchasing behavior led to growing inventories in the trade, which resulted in increasing pressure on prices. Increased costs were incurred for expanding international activities and for the further introduction of I-joists and hemp insulation materials. In addition, the increasing amortization/depreciation resulting from the capital expenditure over the past few years has depressed results. EBITDA in the first quarter of 2008 totaled EUR 2.9 million (previous year: EUR 4.5 million). STEICO AG's EBIT in the first quarter totaled EUR 0.9 million (previous year: EUR 2.9 million). STEICO AG has reacted to the changed environment with an in-depth restructuring and optimization program, which will boost efficiency in all of the company's divisions. In addition, it will focus more closely on the attractive market for property refurbishment. STEICO AG's Managing Board believes that the markets for its products will stabilize during the second half of the year, which will benefit the STEICO Group - the market leader for ecological insulation materials. In addition, sales of I-joists are forecast to increase substantially by the end of the year. Environmental issues, spiraling heating costs and state subsidies for energy-efficient building are continuing to create an attractive niche market for STEICO's ecological construction products. Thanks to the capital expenditure projects already completed, the high equity ratio of 70.4% and its cash and cash equivalents totaling EUR 34.1 million, the STEICO Group is also excellently positioned for the future. Company profile: The STEICO group of companies develops, produces and sells ecological construction products made of renewable materials. The company leads the European market for wood-fiber insulation materials with a market share of more than 40 percent STEICO is a pioneer for the environment with a large bandwidth of FSC® and natureplus® certified products. The company enjoys competitive advantages as a result of the effective cost structure at its three European production facilities and its intense research and development work. The Group's new products 'Hemp insulation materials' and 'I-joists' as construction elements for residential construction mean that it has positioned itself as a system provider for ecological and particularly energy-efficient construction products. The production of natural fiber boards (NFB) as components for the I-joists rounds off STEICO's vertical integration, which is unique within the industry. The Munich-based company's products are successfully used in home building for floors, walls, ceilings and roofs. The STEICO Group plans to continue the growth it has enjoyed in the past few years thanks to its clear strategic orientation. The strategic plans focus on existing and new products, including for new customers. The funds from the IPO in June 2007 have enabled the company to further bolster the Group's excellent quality as well as to drive its internationalization. Contact: Andreas Schulze STEICO Aktiengesellschaft Hans-Riedl-Strasse 21 85622 Feldkirchen Fon: +49-(0)89-99 15 51-48 Fax: +49-(0)89-99 15 51-97 E-Mail: schulze@steico.com www.steico.com DGAP 16.06.2008 --------------------------------------------------------------------------- Language: English Issuer: STEICO Aktiengesellschaft Hans-Riedl-Str. 21 85622 Feldkirchen Deutschland Phone: +49 - (0)89 - 99 15 51 - 0 Fax: +49 - (0)89 - 99 15 51 - 99 E-mail: info@steico.com Internet: http://www.steico.com ISIN: DE000A0LR936 WKN: A0LR93 Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Q1 2008 figures: STEICO AG's revenues at previous year's level
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