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DGAP-News: Stabilus SE / Key word(s): Quarter Results
Stabilus SE: Double-digit revenue and earnings growth in Q3 FY2022
Luxembourg/Koblenz, August 1, 2022 – Stabilus SE (ISIN: LU1066226637), one of the world's leading suppliers of motion control solutions for a wide range of industries, today published its quarterly statement for the third quarter of fiscal 2022 (ended June 30, 2022). Following an already strong second quarter FY2022, revenue and earnings growth further accelerated in the third quarter. The operating segments (regions) Americas and APAC contributed to this development, supported by strong worldwide growth in the Automotive Powerise business unit.
Group revenue in the third quarter of FY2022 increased by 18.5% year-on-year to €271.1 million (Q3 FY2021: €228.7 million). Adjusted for currency effects, Group revenue increased by 12.5%.
Dr. Michael Büchsner, CEO of Stabilus, said: “We can look back on successful first nine months of fiscal year 2022 with profitable growth. For the year as a whole, we now expect an adjusted EBIT of around €150 million, which exceeds our mid-range expectations formulated at the beginning of the fiscal year by around €10 million. Although the current environment presents some challenges, we believe we are in a very good position both strategically and financially.”
Strong business in Americas and APAC regions
In EMEA, revenue in Q3 FY2022 increased by 0.9% to €118.4 million (Q3 FY2021: €117.3 million). In the Americas, revenue grew by 29.4% year-on-year to €97.6 million (Q3 FY2021: €75.4 million). In this region, Stabilus achieved double-digit growth rates in all three business units, driven by strong organic growth and favorable currency effects. In Asia-Pacific (APAC), the company again recorded above-average revenue growth of 53.1% year-on-year to €55.1 million (Q3 FY2021: € 36.0 million). The Automotive Powerise business was the strongest driver in all three regions.
Automotive Powerise business unit grows at a disproportionately high rate
By business unit, Stabilus recorded organic revenue growth in both the Automotive Gas Spring and Automotive Powerise business units in the third quarter of the 2022 fiscal year. In the Automotive Powerise business unit, which was able to significantly decouple from the stagnating development of global automotive production in the reporting period, revenue rose by 51.2% to €88.6 million in Q3 FY2022 (Q3 FY2021: €58.6 million). In the Automotive Gas Spring business unit, the company recorded an increase of 8.5% to € 76.9 million (Q3 FY2021: €70.9 million). The Industrial business unit recorded an increase of 6.6% in Q3 FY2022 to €105.6 million compared to the same quarter of the previous year (Q3 FY2021: €99.1 million). Stabilus recorded the strongest development in the market segments Energy, Construction, Industrial Machinery & Automation (ECIMA) and Distributors, Independent Aftermarket, E-Commerce (DIAMEC) and Mobility.
Adjusted EBIT margin of 14.0% in the third quarter
Adjusted operating profit (adjusted EBIT) increased by 22.7% to €37.9 million in Q3 FY2022 (Q3 FY2021: €30.9 million). This corresponds to an adjusted EBIT margin of 14.0%, compared to 13.5% in the same quarter of FY2021.
In Q3 FY2022, profit was €24.3 million (Q3 FY2021: €15.9 million) and free cash flow before acquisitions (adj. FCF) €26.8 million (Q3 FY2021: €30.3 million).
Revenue forecast for fiscal 2022 raised
Stabilus has raised its revenue forecast for fiscal 2022, following the positive business development in the first nine months, and now expects revenue of c. €1,070 million with an adjusted EBIT margin of c. 14%. This corresponds to an adjusted EBIT of around €150 million, which is above the original expectation of around €140 million in the middle of the previous forecast range (revenue of €940 - 990 million; adjusted EBIT margin of 14-15%).
The quarterly statement for the third quarter of fiscal 2022 is available in English and can be downloaded on the company's website at Investors / Financial Reports & Presentations.
 Cf. definition/calculation of KPI’s adjusted EBIT and free cash flow before acquisitions (Adj. FCF) in the Q3 FY2022 quarterly statement, pp. 10 and 16, that can be downloaded from the company’s website at Investors / Financial Reports & Presentations.
Charles Barker Corporate Communications
Stabilus is one of the world's leading providers of motion control solutions for customers across a broad spectrum of industries including mobility, health, recreation, furniture, energy, construction, industrial machinery and automation. With more than eight decades of demonstrated expertise, Stabilus offers reliable and innovative motion control solutions that enable, enhance and automate opening, closing, lifting, lowering and adjusting actions. The company's customized damping and vibration isolation technology protects against shocks, vibrations and noise. Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz, Germany. In the 2021 fiscal year, Stabilus has reported revenue of €937.7 million. Stabilus has a global production network encompassing plants in eleven countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North and South America, as well as in Asia-Pacific. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the SDAX index.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management 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.
01.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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