Steico Increases net Profit by 185% in the First Quarter. Demand for Ecological Insulation Materials Returns!

Steico manages to increase net profit by 184.5% to €5.9 million in the first quarter. At 11.6%, the EBIT margin is above the 2024 target corridor. Steico's business should be at the turning point for the positive. The share should soon break out of the bottom. The construction of single and multi-family homes and renovations are suffering from the rise in interest rates. Demand for houses has collapsed. In January alone, building permits for single-family homes were a good 42.7 % lower. However, building interest rates are now on the...