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Stabilus S.A.: Strong revenue and earnings growth in Q1 FY2015


Stabilus S.A. / Key word(s): Quarter Results

2015-02-16 / 07:00


CORPORATE NEWS Luxembourg/Koblenz, 16/2/2015

Stabilus S.A.: Strong revenue and earnings growth in Q1 FY2015

- Revenue in Q1 FY2015 +16.3% to EUR 135.1 million

- Adjusted EBITDA +22.2% to EUR 22.6 million

- Adjusted EBIT +25.4% to EUR 15.3 million

- Net income of EUR 7.7 million (Q1 FY2014: EUR 2.2 million)

- Strong US$ likely to lead to FY2015 revenue above previous expectations

Luxembourg/Koblenz, February 16, 2015 - Stabilus S.A. (ISIN: LU1066226637), the globally leading developer and producer of gas springs and hydraulic dampers, has successfully completed the first quarter of its fiscal year 2015 (which ends September 30) and continued to profitably grow across all regions and markets.

The group's revenue rose from EUR 116.2 million in Q1 FY2014 by 16.3% to EUR 135.1 million in Q1 FY2015. Stabilus realized strong growth in Europe (+14.9%), NAFTA (+21.3%) as well as Asia / Pacific and RoW (+8.6%). In terms of markets, the strongest growth was realized in the Automotive market with a 22% increase in revenue, but also the markets Industrial (+3.2%) and Swivel Chair (+10.3%) saw rising turnovers.

The main growth driver in the company's automotive market was the electromechanical Powerise technology, which allows the fully automatic opening and closing of automobile trunk lids and tailgates and continues to win market shares worldwide. In Q1 FY2015, Powerise systems contributed EUR 29.5 million to the group's turnover, after EUR 17.2 million in Q1 FY2014.

Adjusted EBITDA rose by 22.2% to EUR 22.6 million (Q1 FY2014: EUR 18.5 million). Adjusted EBIT amounted to EUR 15.3 million, up 25.4% from the prior-year level of EUR 12.2 million.

At EUR 7.7 million, net income for the first quarter of fiscal year 2015 increased significantly in comparison to Q1 FY2014, where net income was at EUR 2.2 million. Apart from the increase in EBIT, the increase in net income in the reporting period was the result of lower finance costs as well as higher finance income, particularly net foreign exchange gains due to the stronger US$.

Dietmar Siemssen, CEO of Stabilus, said: "We were able to win important new orders in the first quarter and continued our profitable growth as planned. Furthermore, in December 2014 we have made all necessary arrangements for a comprehensive long term refinancing of our liabilities. Based on our strong market position, we are highly confident regarding our prospects for fiscal year 2015."

The Stabilus Group's operative outlook for fiscal year 2015 in terms of goods sold remains unchanged from the outlook given in the Annual Report 2014. The forecast given in the Annual Report 2014 assumed an average 1.35 US$-EUR exchange rate for fiscal year 2015. Since the development and prognosis of the US$-EUR exchange rate has changed and is now expected at an average level of US$ 1.20 per EUR throughout the fiscal year 2015, the group's revenue expectations has been increased to the range of EUR 575 million to EUR 585 million. On this basis, currently revenue growth of up to around 15% is forecast. The company's adjusted EBIT margin is expected to remain in the range of 12% to 13%.

The full financial report for the first quarter of fiscal year 2015 is available for download in the Investor Relations area at www.ir.stabilus.com.
 
 

Press Contact:
Gaby Jonethal
Tel.: +49 261 8900 502
E-Mail: gjonethal@stabilus.com

Charles Barker Corporate Communications
Tobias Eberle
+49 69 794090 24
E-Mail: Tobias.Eberle@charlesbarker.de
 
Investor Relations Contact:
Andreas Schröder
Tel.: +352 286 770 21
E-Mail: anschroeder@stabilus.com
 
   
 

About Stabilus

As a globally active automotive and industrial supplier, Stabilus develops and produces gas springs, hydraulic dampers as well as electromechanical drives (Powerise). Employing approximately 4,000 people worldwide, the company has its operational headquarters in Koblenz. In the fiscal year 2014, Stabilus sales amounted to c. EUR 507 million. Stabilus operates 11 production plants and distributes its products in over 50 countries in Europe, North, Central and South America and Asia Pacific via its regional offices and sales partners. Stabilus has been listed on the German Stock Exchange since May 2014 and became an SDAX member in September that year.





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