STEICO (ST5) Q4 2025 earnings summary

Executive summary

• Revenue increased by 1.8% year-over-year to €382.9 million, with solid operational performance despite a challenging construction market and a four-week production outage in Poland during peak season.

• EBITDA declined by 14.9% to €67.9 million, while EBIT remained nearly flat at €35.9 million, reflecting higher material and personnel costs but benefiting from normalized depreciation.

• Net income fell by 7.6% to €17.8 million, mainly due to a higher tax rate and increased operating expenses.

• Efficiency initiatives and cost discipline helped offset market headwinds and production disruptions.

Financial highlights

• Revenue: €382.9 million (+1.8% year-over-year); EBITDA: €67.9 million (-14.9%); EBIT: €35.9 million (-0.4%).

• Net income: €17.8 million (-7.6% year-over-year); EBT: €29.5 million (+6.8%).

• Gross margin stable at €198.5 million; equity ratio improved to 61.2% (from 57.8%).

• Cash flow from operations: €54.0 million; cash and equivalents at year-end: €43.6 million.

• Dividend proposal: €0.20 per share.

Outlook and guidance

• 2026 revenue expected between -2% and +4% versus 2025, or €375–398 million.

• EBIT guidance for 2026: €30–38 million, corresponding to an EBIT margin of 8.0–9.5%.

• Market recovery anticipated if macroeconomic and geopolitical conditions stabilize.