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Steico SE’s share price peaked in mid 2021
at over €120 but is now at around €20. Steico had previously flagged up
tougher times in the construction industry throughout Europe in its 2023 annual results, citing high inflation and higher interest rates, with added competition on the market for wood fibre insulation materials also depressing sales prices. It did report a stabilisation of growth again at the end of 2023.
The sales figures were the lowest since
the company went public and the group had predicted 2024 to continue to be a difficult trading environment. Steico’s production output for rigid boards using the wet process method declined by 28.6% in 2023 - 107,960t compared to 151,175t in 2022. Rigid insulation materials produced using
the dry method totalled 76,956t in 2023 (previous year: 101,919t). This corresponds to a downturn of 24.5%. Flexible insulation material output using the dry process was 81,839t (2022: 87,794t). This corresponds to a decrease of 6.8%. However, Steico does see additional opportunities with offering an integrated insulation and construction system, the launch of new products, further internationalisation and process optimisation and increased efficiency. The strategic alliance with the new majority shareholder Kingspan is expected to bring positive opportunities for growth in this regard.
Its R&D is also developing and optimising
material combinations for its insulation materials, including development of foaming insulation materials based on wood and sustainable raw materials; development of moulded pieces based on reformable wood fibre mats; and development of fully recyclable insulation materials based on wood fibres.
MARKET NEWS Several new wood fibre insulation board plants have been under construction in Europe. Sawmiller and engineered wood products manufacturer Schilliger Holz is constructing a new “Lignatherm” fibre insulation board plant in Küssnacht am Rigi, with the project progressing according to plan. Schilliger already has three locations in
Switzerland and France, serving primarily the construction and packaging industry in Switzerland, France, and Italy. The new greenfield plant will use
exclusively wood chips from local forests to produce eco-friendly insulation board and Schilliger believes the product will significantly enhance its product range. Andritz has received an order from
Top: The Naturheld production facility has changed hands from Ziegler to JRS Group Centre: The Sonae Arauco Meppen site – a new wood fibre insulation plant is opening in 2025 Above: Flexible insulation batts
www.wbpionline.com | February/March 2025 | WBPI
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