STÜHLINGEN (dpa-AFX) - Due to the weak construction industry, particularly in Germany, the insulation and paint manufacturer Sto is postponing its medium-term targets by two years. The turnover of EUR 2.1 billion planned for 2025 and the return on sales based on earnings before tax of 10 percent are now not to be achieved until 2027, the company announced in Stühlingen on Tuesday. For 2025, Sto expects consolidated turnover of EUR 1.9 billion and a return on sales of 7.6 to 9.2 percent. The SDax-listed share recently fell by around five percent.

Sto had lowered its turnover outlook for 2023 twice due to poor weather and investor restraint in the construction business and most recently expected EUR 1.71 billion. Sto plans to publish the audited consolidated financial statements and the outlook for 2024 on April 29 /nas/jha/.