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Sto Group sales of EUR 563.1 million in the first six months of 2014 are 8.3 % better than last year

Financial figures for 2013

Stühlingen, 28 August 2014 – Following a very dynamic start of the year that was assisted by favourable weather conditions, the business performance of Sto SE & Co. KGaA slowed in the second quarter of 2014, reflecting an industry-wide development. Due to the strong growth of the early months, when a mild winter led to significant pull-forward effects, Group sales from January to June 2014 rose 8.3 %, compared to the same time last year to EUR 563.1 million (previous year: EUR 520.1 million). The major international manufacturer of products and systems for building coatings showed a particularly solid demand for facade systems and coatings.

Sto especially benefited from the weather conditions in Germany, which allowed domestic sales to increase 10.4 %, compared to the first six months of last year, to EUR 253.4 million (Previous year: EUR 229.5 million). Foreign turnover rose 6.6 % to EUR 309.7 million (previous year: EUR 290.6 million). As a result the foreign share of consolidated turnover dropped slightly to 55 % from 55.9 %. In contrast to most Western and Eastern European subsidiaries, which also benefited from the warm temperatures at the start of the year, the winter in parts of the USA and China was very harsh.

Business performance in some Southern European countries was marked by the continued difficult economic conditions there. In addition, the appreciation of the Euro compared to the US dollar, the Chinese Renminbi and Scandinavian currencies dampened sales performance.

  • Sto Group sales of EUR 563.1 million in the first six months of 2014 are 8.3 % better than last year - Business performance slows after a good start
  • Favourable weather conditions to start the year facilitate domestic and international growth
  • Company EBIT rises to EUR 29.2 million from EUR 18.8 million
  • Continued expansion of payroll in growth markets
  • Unchanged forecast for 2014 fiscal year: Rise in turnover of around 5 % and EBIT of EUR 90 to 100 million expected

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