on Sto AG (isin : DE0007274136)
Sto SE & Co. KGaA Faces Challenging Market Conditions in 2024
Sto SE & Co. KGaA, based in Stühlingen, Germany, reported significant challenges in its 2024 business development. The company's consolidated turnover dropped by 6.2% to EUR 1.612 billion, due to weak construction sectors in key markets like Germany, Italy, and France. These factors led to increased competitive pressure and lower sales volumes in both new construction and refurbishment sectors.
Earnings were significantly affected, with EBIT declining by 53.5% to EUR 58.8 million. In response, Sto implemented a strict cost-cutting program, reducing its workforce by 184 employees globally. The company anticipates a turnover of EUR 1.57 billion in 2025, with continued economic challenges impacting performance.
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