Woodfibre insulation board and engineered wood product manufacturer Steico AG has reported a 52% growth in its EBITDA to €45.9m for the first half of 2024. Steico said its cost of materials fell to €92.8m in the first half of the year (H1, 2023: €118.1m) mainly due to gains from currency hedging totalling €19.8m (H1,2023: €4.3m) million). As a result, the cost of materials ratio fell to 49.2% (H1,2023: 62.7%). H1 sales were €190.8m, almost at the previous year’s level, continuing the stabilisation trend. Steico’s ...
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