Steico Aktie: Prognose für 2024 nach starkem Q3 angehoben () from

Steico Stock Analysis: Forecast Raised After Strong Q3

Key Takeaways:

* Steico raised its 2023 revenue and EBITDA forecasts after a strong third quarter. * The company benefited from high demand for its wood-based insulation products. * Steico expects continued growth in the coming years due to the increasing demand for sustainable building materials.

Q3 Performance:

* Steico reported a 29% increase in revenue to €143.9 million in Q3 2022 compared to the same period last year due to strong demand for its wood-based insulation products. * EBITDA increased by 37% to €29.2 million, driven by higher sales volumes and improved margins. * The company's order book reached a record high of €289.4 million.

Raised Forecast:

* Steico raised its revenue forecast for 2023 to €570-590 million from the previous range of €540-570 million. * The company also raised its EBITDA forecast to €108-112 million from the previous range of €102-107 million. * Steico's management is confident in the company's ability to continue to grow in the coming years due to the increasing demand for sustainable building materials.

Industry Outlook:

* The global insulation market is expected to grow at a CAGR of 5.5% from 2023 to 2030, driven by increasing awareness of energy efficiency and the growing construction industry. * Wood-based insulation is becoming increasingly popular due to its sustainability and energy efficiency benefits.

Risks:

* Steico faces risks such as fluctuations in the price of raw materials, competition from other insulation manufacturers, and economic downturns. * However, the company's strong order book and diversified customer base provide it with some resilience to these risks.

Conclusion:

* Steico's strong Q3 performance and raised forecast indicate that the company is well-positioned to benefit from the growing demand for sustainable building materials. * Investors should consider Steico as a long-term investment opportunity due to its strong fundamentals and growth prospects.