STEICO SE (ISIN DE000A0LR936) published its Half-Year Report 2026 on Monday, revealing a modest revenue increase but significant margin compression driven by geopolitical tensions and rising costs. The company, a global leader in wood fibre insulation materials, reported turnover of EUR 200.3 million for the first six months of 2026, up 0.6% from EUR 199.1 million in the same period last year. The growth was fueled by a strong second quarter as the construction season began, offsetting a weaker first quarter.
However, the company faced substantial cost increases in the second quarter, which it attributed to the US–Iran conflict and resulting supply chain disruptions. “There are currently no signs of a sustained easing of the situation, and costs are continuing to rise in many areas,” the company stated. Price increases implemented to offset these higher costs are taking effect with a time lag, severely impacting first-half margins. Earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 22.1% to EUR 29.0 million from EUR 37.2 million a year earlier. EBIT dropped 30.8% to EUR 14.7 million, compared with EUR 21.2 million in the prior year. The EBIT margin as a proportion of total operating revenue stood at 7.5%, down from 10.6% in the first half of 2025.
Despite the margin squeeze, the Executive Board expressed confidence in achieving further growth in the second half of the year and expects profit margins to continue improving. Management confirmed the full-year 2026 forecast, projecting revenue growth between -2% and +4% compared with the previous year, corresponding to revenue of around EUR 375 million to EUR 398 million. EBIT is expected to range from EUR 30 million to EUR 38 million, implying an EBIT margin of 8.0% to 9.5%. The company cautioned that these targets depend on the economic outlook not deteriorating further.
The complete financial report is available at https://www.steico.com/en/investor-relations/. STEICO, based in Munich, develops and produces building products from bio-based raw materials, including wood fibre insulation, laminated veneer lumber, and I-joists. The company positions itself as a system provider for timber construction, offering an integrated system that combines innovative timber structures with bio-based insulation. Its products are used in both new builds and renovations, contributing to energy-efficient buildings with improved protection against cold, heat, and noise.
