Steelcase Inc. is a global leader in office furniture and workspace solutions, committed to creating environments that enhance human collaboration and productivity.

# Company Overview: Steelcase Inc.

## General Information
- **Founded**: 1912
- **Headquarters**: Grand Rapids, Michigan, U.S.A.
- **Employees**: Approximately 11,300

## Business Focus
Steelcase Inc. is a global leader in office furniture and workspace solutions. The company’s mission is to create places where people work better, offering a comprehensive range of furniture and interior architectural products designed to support diverse working environments. This commitment is supported by extensive human-centered research to develop insights that inform product design and functionality.

## Product Offerings
Steelcase operates under several brands, including:
- **Steelcase**: Offers a portfolio of office furniture systems and services.
- **AMQ**: Provides high-quality and affordable products for collaborative workplaces.
- **Coalesse**: Designs modern furnishings for social and collaborative spaces.
- **Designtex**: A leading resource for applied materials and surfaces.
- **HALCON**: Focuses on precision-tailored wood furniture.
- **Orangebox**: Offers innovative furniture solutions to support contemporary workplaces.
- **Smith System**: Specializes in furniture for the pre-K-12 education market.
- **Viccarbe**: Produces contemporary furniture for diverse environments.

## Market Presence
- **Customer Segments**: Steelcase serves a wide range of sectors including corporate, government, education, healthcare, and retail customers. They utilize a network of approximately 790 independent and company-owned dealers globally.
- **Revenue Sources**: The company reported total revenue of **$3.166 billion** for the fiscal year ending February 28, 2025.

## Financial Performance
- **Annual Revenue**: $3.166 billion (2025)
- **Gross Profit**: $1.046 billion (33.1% margin)
- **Operating Income**: $158.1 million
- **Net Income**: $120.7 million (3.8% margin)
- **Earnings per Share**: $1.02 (basic and diluted)

## Segment Information
Steelcase operates through two primary reportable segments:
1. **Americas Segment**: 
   - Revenue: $2.465 billion
   - Key Products: Desking, benching, systems, storage, seating, etc.

2. **International Segment**: 
   - Revenue: $700.8 million
   - focused largely in Europe, the Middle East, Africa, and Asia Pacific.

## Strategic Priorities
Steelcase's strategic priorities include:
- Expanding into vertical markets such as education and healthcare.
- Enhancing customer experience through digital tools.
- Simplifying processes and maximizing operational efficiencies.
- Fostering innovation within product development by leveraging research insights.

## Competitive Positioning
Steelcase faces strong competition from companies such as MillerKnoll, Inc., Haworth, Inc., and HNI Corporation. The company differentiates itself through:
- Extensive research and design capabilities.
- A broad product portfolio catering to various customer needs.
- A robust dealer network which helps in expanding the customer reach.

## Conclusion
Steelcase Inc. stands as a significant player in the global office furniture market by focusing on human-centered design principles, wide-ranging product offerings, and strategies aimed at adapting to evolving workplace trends. With a solid financial performance and a diverse customer base, Steelcase is well-positioned to capitalize on future growth opportunities.

Steelcase Inc. is a global leader in the office furniture and architectural products industry, focusing on innovative, human-centered designs and sustainable practices to enhance workplace effectiveness.

# Steelcase Inc. Overview Summary

## Company Background
- **Founded:** 1912
- **Headquarters:** Grand Rapids, Michigan, U.S.A.
- **Publicly Traded:** Yes, on the New York Stock Exchange (NYSE) under the symbol “SCS”
- **Number of Employees:** Approximately 11,300 (as of February 23, 2024)
- **Industry:** Office Furniture and Architectural Products

## Purpose and Mission
Steelcase aims to help people do their best work by creating optimized workplaces that support performance and well-being. The company's mission is driven by insights gained from human-centered research.

## Portfolio of Brands
Steelcase encompasses several brands, each specializing in different market segments:
- **Steelcase®**: A leading brand focused on high-performance work environments.
- **AMQ®**: Offers affordable products for collaborative spaces and private offices, specializing in quick turnaround (30 days).
- **Coalesse®**: Designs aesthetically pleasing and functional furniture for modern workplaces.
- **Designtex®**: Provides applied materials including premium fabrics for seating and surfaces.
- **HALCON™**: Focuses on precision-tailored wood furniture for executive and custom needs.
- **Orangebox®**: Designs furniture and architectural pods that emphasize collaborative work.
- **Smith System®**: Specializes in education furniture for pre-K-12 environments.
- **Viccarbe®**: Offers contemporary furniture catering to collaborative and social spaces.

## Customer Base
- **Customer Segments**: Steelcase serves corporate, government, healthcare, education, and retail sectors, catering to small, mid-sized, regional, and multinational organizations.
- **Distribution Network**: Products marketed primarily through approximately 380 independent and company-owned dealers in the Americas and about 390 in international markets.

## Financial Performance
- **Revenue**: Approximately **$2.57 billion** in 2024 (with a detailed breakdown available in the financial statements).
- **Largest Customer Concentration**: The largest customer represented approximately **2%** of consolidated revenue in 2024, while five largest customers combined accounted for roughly **6%** of consolidated revenue.
- **Profitability**: Revenue and profitability are influenced by macroeconomic factors, market trends toward remote work and customization, and increased competition.

## Strategic Focus
- **Research and Development**: Investment of **$48.2 million** in 2024, focusing on innovative products that respond to workplace trends.
- **Growth Strategies**: Focused on hybrid work solutions, expanding market share, particularly in healthcare and education sectors, and leveraging acquisitions.
- **Sustainability Commitment**: Steelcase is dedicated to reducing environmental impacts through sustainable practices and product designs.

## Manufacturing and Supply Chain
- **Manufacturing Footprint**: Operations across North America (U.S. and Mexico), Europe (Czech Republic, France, Germany, Spain, and the U.K.), and Asia (China, India, Malaysia). A total of **22 principal manufacturing and distribution centers**.
- **Raw Material Focus**: Predominantly reliant on global suppliers for materials such as steel, aluminum, wood, and plastics.

## Risk Factors
- **Macroeconomic Sensitivity**: Revenue is vulnerable to economic downturns and fluctuations in corporate investments in office spaces.
- **Cybersecurity Threats**: The company actively monitors and manages cybersecurity risks to protect its operations and data integrity.
- **Supply Chain Vulnerabilities**: Dependence on global suppliers poses risks due to potential disruptions from geopolitical issues or natural disasters.

## Conclusion
Steelcase operates as a global leader in office furniture and architectural products, focusing on human-centered design and sustainable practices aimed at enhancing workplace effectiveness and well-being. With a diverse customer base and a comprehensive product range, it positions itself strategically to adapt to evolving workplace trends.

STEELCASE INC

10-K / April 18, 2025

10-K / April 12, 2024

10-K / April 18, 2025

Company Overview: Steelcase Inc.

General Information

Business Focus

Product Offerings

Market Presence

Financial Performance

Segment Information

Strategic Priorities

Competitive Positioning

Conclusion