At Euro 291.0 million, cumulative Steico Group sales after the first nine months of 2024 were up 3.1% on the same period of the previous year. In the Q3 2024, a pick-up in demand was recorded in some markets despite a strong competitive situation. At Euro 100.3  million, Q3 revenues were up 5.7% on the Q2 2024 and 8.6% on the Q3 2023. Business in the core German market is stable with growth attributed mainly to the Western European markets.

Earnings also improved over the nine-month period. EBITDA increased by 45.9% to Euro 69.1 million compared to the same period of the previous year while EBIT increased by 86.4% to Euro 47.9 million. This development is strongly supported by earnings from currency hedging of Euro 25.6 million recognised under German GAAP.

As previously indicated, the Management Board expects that these gains will not be generated to a comparable extent in the future.

This is evidenced by the fact that earnings slowed in the Q3 2024, compared to the Q2 2024.