Stabilus SE: with record revenue in the fourth quarter of 2022, Stabilus achieved annual revenue of €1.1 billion, exceeding the €1 billion threshold for the first time

0

EQS-News: Stabilus SE / Key word(s): Preliminary results/Annual results

Stabilus SE: with record revenue in the fourth quarter of 2022, Stabilus achieved annual revenue of €1.1 billion, exceeding the €1 billion threshold for the first time

11.11.2022 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

CORPORATE NEWS

Stabilus SE: with record revenue in the fourth quarter of 2022, Stabilus achieved annual revenue of €1.1 billion, exceeding the €1 billion threshold for the first time

  • According to preliminary figures, revenue of 1,116.3 million euros for the financial year 2022 (financial year 2021: 937.7 million euros) and adjusted EBIT[1] margin at 14.0% (FY 2021: 14.4%)

  • Profit of €104.3 million (FY 2021: €73.8 million) and free cash flow before acquisitions (FCF adj.[1]) to €81.7 million (financial year 2021: €88.6 million)

  • For fiscal year 2023, revenue of €1.1 billion to €1.2 billion with an adjusted EBIT margin of 13% to 14% expected

Koblenz, November 11, 2022 – According to preliminary figures for the 2022 financial year (ending September 30, 2022), with annual revenue of €1,116.3 billion, Stabilus SE (WKN: STAB1L, ISIN: LU1066226637), one of the world’s leading providers of motion control solutions for a wide range of industries, crossed the €1 billion revenue threshold for the first time, exceeding the revenue forecast set in August 2022 After an already strong nine months, revenue and earnings growth accelerated further in the fourth quarter. The Americas and APAC operating segments (regions) contributed in particular to this development, mainly driven by the strong global growth of the Automotive Powerise business unit.

In the fourth quarter of fiscal 2022, Stabilus increased its revenue by 39.5% year-on-year to EUR 320.3 million (Q4 FY 2021: EUR 229.6 million). Adjusted for currency effects, the increase in turnover amounts to 31.9%. Thus, fourth quarter revenues are also significantly higher than the level before the start of the pandemic in 2019.

In a full year, the Group achieved sales of 1,116.3 million euros according to preliminary figures, compared to 937.7 million euros the previous year (+19.0%, on an organic basis +14 .2%, year-over-year), as well as EBIT adjusted revenue of €156.2 million (full year 2021: €135.0 million), corresponding to an adjusted EBIT margin of 14 .0%. Stabilus thus exceeded its full-year sales forecast by approx. €1,070 million, which was raised in August 2022, and achieved its expected adjusted EBIT margin of c. 14%.

Dr. Michael Büchsner, CEO of Stabilus, said: “In the current global economic situation and global market turbulence, we have not only fully achieved our forecasts, but also exceeded the long-standing target of a threshold of turnover of 1 billion euros. In particular, the strong growth of the Automotive Powerise business unit shows that we are technologically well positioned and that it is above all innovations that pave the way for the future of Stabilus.

Strong activity in the Americas and APAC regions

In EMEA, FY2022 revenue increased by 1.2% to €469.4 million (FY2021: €464.0 million). In the Americas, revenue increased by 19.8% year-on-year to €387.5 million (financial year 2021: €323.5 million). In Asia-Pacific (APAC), the company again recorded above-average revenue growth of 72.7% year-on-year to €259.4 million (FY 2021: €150.2 million ). The Automotive Powerise business was the most important driver in all three regions.

Automotive Powerise business unit is growing at a disproportionate rate

Stabilus delivered organic revenue growth across all three business units in fiscal 2022. In the Automotive Powerise business unit, which was able to decouple significantly from the development of global automotive production during the reporting period , revenue increased by 42.3% to €374.6 million in fiscal year 2022 (fiscal year 2021: €263.3 million). In the Automotive Gas Spring business unit, the company recorded an increase of 9.6% to 326.0 million euros (financial year 2021: 297.4 million euros). Revenue for the Industrial business unit increased by 10.3% in fiscal year 2022 to EUR 415.8 million compared to the prior year (fiscal year 2021: EUR 377.0 million euros). Stabilus recorded the strongest development in the Energy, Construction, Industrial Machinery and Automation (ECIMA) and Distributors, Independent Aftermarket, E-Commerce (DIAMEC) and Mobility market segments.

Adjusted EBIT margin of 14.0% in the third quarter

Adjusted operating profit (adjusted EBIT) increased by 15.7% to €156.2 million in fiscal year 2022 (fiscal year 2021: €135.0 million). This corresponds to an adjusted EBIT margin of 14.0%, compared to 14.4% for the 2021 financial year.

In fiscal year 2022, profit was €104.3 million (fiscal year 2021: €73.8 million) and free cash flow before acquisitions (adj. FCF) was €81.7 million. euros (financial year 2021: 88.6 million euros).

Guidance for FY2023 calls for continued growth

For the 2023 financial year, Stabilus expects revenue of €1.1 billion to €1.2 billion and an adjusted EBIT margin of between 13% and 14%. The range of revenue and earnings forecasts reflects current macroeconomic and geopolitical uncertainties. Stabilus pursues its long-term strategy with profitable and sustainable growth, customer and employee satisfaction, innovation and sustainability as cornerstones.

An accompanying presentation on preliminary figures for fiscal year 2022 is available in English and can be downloaded from the Company’s website at Investors / Financial reports and presentations. The final figures and the annual report for the 2022 financial year will be published on December 9, 2022.

________________________

[1] See definition/calculation of KPI’s Adjusted EBIT and free cash flow before acquisitions (adjusted FCF) in our financial reports and presentations of current results, for example in our presentation of the preliminary results of the 2022 financial year, pp. 24ff., which can be downloaded from the company’s website at Investors/Financial Reports & Presentations.

Investor contacts:
Andreas Schröder
Such. : +49 261 8900 8198
Email: [email protected]

Press contacts:
Peter Steiner
Such. : +49 69 794090 27
Email: [email protected]

Charles Barker Corporate Communications

About Stabilus

Stabilus is one of the world’s leading providers of motion control solutions for customers in a wide range of industries including mobility, healthcare, leisure, furniture, energy, construction, industrial machinery and automation. With over eight decades of proven expertise, Stabilus offers reliable and innovative motion control solutions that enable, enhance and automate opening, closing, raising, lowering and adjustment actions. The company’s custom vibration isolation and damping technology protects against shock, vibration, and noise. Employing over six thousand people worldwide, the company is headquartered in Koblenz, Germany. In the 2022 financial year, Stabilus recorded a turnover of 1,116.3 million euros according to preliminary figures. Stabilus has a global production network with factories in eleven countries. In addition, the Group maintains regional offices and relationships with business partners in more than fifty countries in Europe, North and South America, and Asia-Pacific. Stabilus SE is listed on the Prime Standard segment of the Frankfurt Stock Exchange and included in the MDAX index.

Important Notice

This press release may contain forward-looking statements based on current assumptions and forecasts made by the management of the Stabilus Group and other information currently available to Stabilus. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.

11.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archives on www.eqs-news.com

Share.

Comments are closed.