STEICO SE (ISIN DE000A0LR936) released its Half-Year Report 2026 on July 20, revealing a complex picture of catch-up effects in the second quarter alongside severe cost pressures stemming from geopolitical tensions. The company, a global leader in wood fiber insulation materials, reported total revenue of EUR 200.3 million for the first half of 2026, a modest 0.6% increase compared to EUR 199.1 million in the same period last year. This growth, driven by the start of the construction season in the second quarter, effectively offset a weaker first quarter.
However, the company faced substantial challenges. The US-Iran conflict and resulting supply chain disruptions led to massive cost increases during the second quarter. These pressures show no signs of easing, with costs continuing to rise across multiple areas. While STEICO has implemented price increases to offset these higher costs, the effects are delayed, significantly impacting margins. EBITDA for the first six months fell to EUR 29.0 million, a decline of 22.1% from EUR 37.2 million in the prior year. EBIT dropped 30.8% to EUR 14.7 million, compared to EUR 21.2 million in the same period last year. The EBIT margin stood at 7.5% of total operating revenue at the end of the half-year.
Despite these headwinds, the Executive Board remains optimistic, expecting further growth in the second half of the year and continued improvement in profit margins. Management has confirmed the full-year 2026 forecast. Assuming no further deterioration in the economic outlook, revenue is projected to grow between -2% and +4% year-over-year, translating to approximately EUR 375 million to EUR 398 million. EBIT is expected to range from EUR 30 million to EUR 38 million, corresponding to an EBIT margin of 8.0% to 9.5%.
The complete financial report is available for download at STEICO Investor Relations. The company, headquartered in Munich, develops, produces, and sells building products made from bio-based raw materials. As a system provider, STEICO offers an integrated timber construction system combining innovative timber structures with bio-based insulation materials. Their product lineup includes flexible wood fiber insulation bats, rigid boards, air-injected insulation, laminated veneer lumber, I-joists, sealing products, and plaster components. These products are suitable for both new builds and renovations of roofs, walls, ceilings, floors, and facades, contributing to energy-efficient, high-quality living environments with improved protection against cold, heat, and noise.
