Germany: Sto has revised its 2024 results forecast downwards following ‘increased competition’ and ‘weak demand’ in the year-to-date. Local press has reported that the producer expects to record sales of €1.6bn, down by 7% year-on-year from €1.72bn in 2023. Sto had previously forecast a 3.5% decline, to €1.66bn. As a result, it now anticipates a 46 – 61% year-on-year drop in earnings, from €127m to €50 – 68m. Previously, Sto had forecast earnings of €62 – 82m, down by 35 – 51%.
