EQS-News

Sto SE & Co. KGaA: Consolidated turnover down by 5.9 % in the first quarter of 2024 compared to the same period of the previous year

EQS-News: Sto SE & Co. KGaA / Key word(s): Quarterly / Interim Statement Sto SE & Co. KGaA: Consolidated turnover down by 5.9 % in the first quarter of 2024 compared to the same period of the previous year 08.05.2024 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. P R E S S  R E L E A S E Sto SE & Co. KGaA, Stühlingen/Germany

 

Sto SE & Co. KGaA: Consolidated turnover down by 5.9 % in the first quarter of 2024 compared to the same period of the previous year

Demand in Germany and outside of Germany curbed due to weather conditions and reluctance to invest in the building industry

Increase in seasonally typical Q1 deficit compared to 2023

Year-on-year, slight increase in number of Sto Group employees to 5,804 worldwide

Outlook for 2024 as a whole unchanged: turnover of EUR 1.79 billion and EBIT of between EUR 113 million and EUR 138 million expected in the Group

 

Stühlingen/Germany, 8 May 2024 – Sto SE & Co. KGaA, a major international manufacturer of products and systems for building coatings, saw a decrease of 5.9 % to EUR 340.5 million in consolidated turnover in the first three months of 2024 as compared to the previous year's value (previous year: EUR 361.8 million). In addition to unfavourable weather conditions, particularly at the beginning of the reporting period, business development was also adversely affected by the noticeable reluctance to invest in the building industry. An additional effect resulted from the lower number of working days in March 2024 compared to the same month in the previous year. Currency translations had an overall negative impact of EUR 1.8 million on the Group in the first quarter of 2024. Adjusted for these effects, consolidated turnover in national currencies decreased by 5.4 % quarter-on-quarter.