- WKN: A113Q5
- ISIN: LU1066226637
- Land: Großherzogtum Luxemburg
Nachricht vom 02.08.2021 | 07:00
Stabilus S.A.: Organic revenue growth of 56 percent in the third quarter of FY2021
DGAP-News: Stabilus S.A.
/ Key word(s): Quarter Results/Forecast
Stabilus S.A.: Organic revenue growth of 56 percent in the third quarter of FY2021
- Revenue increased organically by 56.0 percent to EUR 228.7 million in Q3 FY2021, after EUR 147.0 million in the same quarter of the previous year
- Adjusted EBIT in Q3 at EUR 30.9 million, after EUR 5.7 million in Q3 FY2020
- Q3 result at EUR 15.9 million (Q3 FY2020: EUR -16.4 million) and free cashflow before acquisitions (adj. FCF) at EUR 30.3 million (Q3 FY2020: EUR -6.0 million)
- Forecast for FY2021 was specified and narrowed down to revenue of EUR 930 million to EUR 950 million (previously: EUR 900 million to EUR 950 million) with an adjusted EBIT margin of 14 to 15 percent (previously: 13 to 15 percent)
Luxemburg/Koblenz, August 2, 2021 - Stabilus S.A. (ISIN: LU1066226637), one of the world's leading suppliers of motion control solutions for a wide range of industries, has successfully completed the third quarter of fiscal 2021 (ended June 30, 2021). The positive development of the first and second quarters continued in the third quarter and led to strong sales and earnings growth.
Group revenue in the third quarter of FY2021 increased by 55.6 percent year-on-year to EUR 228.7 million (Q3 FY2020: EUR 147.0 million). Adjusted for currency effects, Group revenue increased by 56.0 percent.
Dr. Michael Büchsner, CEO of Stabilus, said: "We are glad that in the third quarter our positive development has continued in all operating segments. As the comparison of the sales and earnings figures clearly shows, the prior-year quarter was the quarter at Stabilus most severely affected by the pandemic. Although many areas of the global economy have not yet returned to their pre-pandemic levels, we are optimistic about the future and see Stabilus well equipped in both the Industrial and Automotive divisions."
Strong growth in all regions and business units
In the EMEA region, revenues in Q3 FY2021 increased by 50.2 percent to EUR 117.3 million (Q3 FY2020: EUR 78.1 million). Adjusted for currency effects, revenue growth in EMEA was 51.5 percent in Q3 FY2021. In the Americas region, revenue increased by 78.3 percent compared to the same quarter of the previous year to EUR 75.4 million (Q3 FY2020: EUR 42.3 million). Americas' organic revenue growth was 77.2 percent in Q3 FY2021. In Asia-Pacific, revenue increased by 34.8 percent year-on-year to EUR 36.0 million (Q3 FY2020: EUR 26.7 million). Adjusted for currency effects, revenue in the region increased by 35.2 percent in Q3 FY2021. The key factors for strong growth in all regions were increased light vehicle production, higher installation rates of Stabilus products as well as further recovery in the industrial business.
Continuing recovery in the Automotive and Industrial business
Stabilus achieved significant organic growth rates in both the Automotive Gas Spring and Automotive Powerise divisions in the third quarter of fiscal 2021. In the Automotive Powerise division, which was once again able to decouple itself significantly from the development of the light vehicle production, revenue doubled with growth of 104.2 percent to EUR 58.6 million compared to the same quarter of the previous year (Q3 FY2020: EUR 28.7 million). In the Automotive Gas Spring division, the company also recorded a strong increase in sales of 66.0 percent to EUR 70.9 million (Q3 FY2020: EUR 42.7 million). Adjusted for currency effects, revenue growth of the two divisions was 94.3 percent and 67.1 percent, respectively.
The Industrial business reported a revenue increase of 31.1 percent compared to the same quarter of the previous year to EUR 99.1 million in Q3 FY2021 (Q3 FY2020: EUR 75.6 million). Adjusted for currency effects, revenue in this business increased by 35.1 percent. In particular, Stabilus recorded strong growth in the segments Distributors, Independent Aftermarket, E-Commerce (DIAMEC) and Mobility.
Overall, the Industrial business accounted for 43 percent (Q3 FY2020: 51 percent) of Stabilus' total Group revenue in Q3 FY2021, and the two automotive divisions Powerise and Gas Spring accounted for 57 percent (Q3 FY2020: 49 percent).
EBIT margin of 13.5 percent in the third quarter
Adjusted operating profit (adjusted EBIT) increased by 442.1 percent to EUR 30.9 million in Q3 FY20 21 (Q3 FY2020: EUR 5.7 million). This corresponds to an adjusted EBIT margin of 13.5 percent, up from 3.9 percent in Q3 FY2020.
The Q3 result increased to EUR 15.9 million (Q3 FY2020: EUR -16.4 million) and free cash flow before acquisitions (adj. FCF) to EUR 30.3 million, after EUR -6.0 million in the same quarter of the previous year.
Forecast for FY2021 specified
Stabilus specified and narrowed down its forecast for the fiscal year 2021 to revenue of EUR 930 million to EUR 950 million (previously: EUR 900 million to EUR 950 million) with an adjusted EBIT margin of 14 to 15 percent (previously: 13 to 15 percent).
The Q3 FY2021 quarterly statement can be downloaded from the company's website at Investors / Financial Reports & Presentations.
 Cf. the definition/calculation of KPIs 'adjusted EBIT' and 'free cash flow (FCF)' in the Quarterly Statement Q3 FY2021, pp. 9 and 15, on our company website at Investors / Financial Reports & Presentations.
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 2020 fiscal year, Stabilus has reported revenues of EUR 822.1 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 S.A. 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.
|2, rue Albert Borschette|
|Phone:||+352 286 770 1|
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|Listed:||Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1223079|
|End of News||DGAP News Service|
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