in Uncategorized

Stabilus with strong numbers and outlook

stabiluslogo

On Friday, November 27th, Stabilus S.A. (ISIN: LU1066226637), the globally leading developer and producer of gas springs and hydraulic dampers, has once again presented record figures. According to preliminary figures for the fiscal year ending September 30, 2015, the company increased revenue by 20.5% to EUR 611.3 million (previous year: EUR 507.3 million).

The company, which is listed in the SDAX, has once again demonstrated strong growth in all regions and in all end markets. According to preliminary figures, the European region contributed revenue of EUR 308.5 million to group revenue, an increase of 15.4% compared with EUR 267.3 million in the previous year. In fiscal year 2015, NAFTA turnover grew by 29.7% to EUR 229.3 million compared to EUR 176.8 million in fiscal year 2014. In the Asia/Pacific and RoW (Rest of World) region, Stabilus increased its revenue from EUR 63.2 million in the previous year to EUR 73.5 million in fiscal year 2015 (+16.3%). Besides a positive operating performance, the, in annual comparison, stronger US dollar contributed to the dynamic revenue growth of 20.5% in fiscal year 2015 (previous year: revenue growth of 10.3%).

With regard to its end markets, Stabilus achieved the strongest growth in the automotive sector, where revenue was expanded by 27.4% to EUR 434.2 million in fiscal year 2015 compared to EUR 340.8 million in the previous year. In the automotive sector, the strongest driver of growth continued to be the Powerise system, which is used to automatically open and close tailgates – in fiscal year 2015, this system contributed EUR 139.8 million to revenue in the automotive sector (+62.9% compared to revenue of EUR 85.8 million in fiscal year 2014). Turnover with gas springs and hydraulic dampers also increased in the automotive sector by 15.5% to EUR 294.4 million. The markets Industrial (+4.9% to EUR 149.3 million) and Swivel Chair (+14.5% to EUR 27.7 million) also saw solid growth rates.

According to preliminary figures, EBITDA (adjusted for non-recurring effects) increased by 16.0% to EUR 107.3 million compared to EUR 92.5 million in the previous year. Adjusted operating profit (adjusted EBIT) increased by 17.1% to EUR 76.2 million compared to EUR 65.1 million in the previous year. At 12.5%, the adjusted EBIT margin was thus within the targeted corridor of 12% and 13% as planned.

Dietmar Siemssen, CEO of Stabilus, said: “We are very pleased with the performance of our company in fiscal year 2015. We see an unbroken trend towards increased usage of gas springs, hydraulic dampers and electromechanical drives in a variety of industries. We plan to continue to consistently implement our successful strategy, expand our market shares in existing markets and tap new sales markets through innovative new solutions and a convincing product pipeline. In order to accomplish these goals, we have significantly invested in the expansion of our global production capacities and in the area of research & development in the past fiscal year. Additionally, we will opportunistically scan the market for possible targeted acquisitions in fiscal year 2016 which could further add to our planned organic growth.”

Mark Wilhelms, CFO of Stabilus, added: “To prepare ourselves for our future growth, we have renewed our setup on the financing side and have created additional leeway in line with our improved profitability. In December 2014, we took advantage of the attractive interest rate environment for a long-term refinancing, which we used to redeem our high yield bond in June 2015. As a result, our interest burden will be reduced by around 13 million euros annually compared to the previous structure. Already in the current fiscal year, the lower interest charges will have a significant positive effect on earnings.”

For fiscal year 2016, Stabilus S.A. expects to generate revenue of around EUR 660 million with an adjusted EBIT margin between 12% and 13%. Stabilus will publish the final figures and the annual report for fiscal year 2015 on December 21, 2015.

 

Related Posts

What is your opinion? Let us know