STEICO (ST5) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was €94.8 million, down 6.9% year-over-year due to harsh winter weather impacting construction activity in Europe.

• EBITDA declined 22.4% to €13.2 million, and EBIT fell 29.6% to €6.2 million compared to Q1 2025.

• Temporary cost increases were driven by higher energy consumption and rising transport costs from Middle East disruptions.

Financial highlights

• Gross profit for Q1 2026 was €40.6 million, a 5.5% decrease from €42.9 million in Q1 2025.

• EBITDA margin was 14.2% (down from 17.5%), and EBIT margin was 6.7% (down from 9.2%) year-over-year.

• Lower income from currency hedging (€1.0 million vs. €2.4 million) and CO2 emission allowance sales (€1.8 million vs. €2.3 million) impacted results.

Outlook and guidance

• Management expects full-year 2026 revenue to range from €375 million to €398 million, representing -2% to +4% growth versus 2025.

• EBIT for 2026 is forecast between €30 million and €38 million, with an EBIT margin of 8.0% to 9.5%.

• Early indicators, such as rising building permits, suggest a potential recovery in construction activity in coming quarters.