STEICO SE Revises 2024 Financial Projections Upward

STEICO SE has announced strong business figures for the first nine months of 2024, prompting an upward adjustment in its annual financial guidance. The company's revenue reached €291.0 million, compared to €282.4 million in the previous year. The Earnings Before Interest and Taxes (EBIT) significantly increased to €47.9 million, a marked rise from last year's €25.7 million. This growth was largely attributed to effective currency hedging, which accounted for €25.6 million in income.

In light of these results, STEICO's management revised their revenue forecast for 2024 to approximately €375 million, up 3% from the earlier forecast of €365 million. The full-year EBIT is now projected to be between €53 million and €55 million, exceeding the previous estimate of €45 million to €50 million. Further details will be released in the upcoming interim statement available on the company's website.