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Stabilus S.A. achieved 25.9% growth in the first quarter of fiscal 2017

DGAP-News: Stabilus S.A. / Key word(s): Quarter Results/Interim Report

13.02.2017 / 07:00
The issuer is solely responsible for the content of this announcement.



CORPORATE NEWS

Stabilus S.A. achieved 25.9% growth in the first quarter of fiscal 2017

- Revenue rose 25.9% in Q1 FY2017 to EUR 210.7 million

- Adjusted EBIT rose 42.0% in Q1 to EUR 29.4 million

- Q1 profit reached EUR 29.8 million (Q1 FY2016: EUR 13.5 million)

- Revenue and adjusted EBIT margin forecast in 2016 Annual Report confirmed

Luxembourg/Koblenz, 13 February 2017 - Stabilus S.A. (ISIN: LU1066226637), one of the world's leading providers of gas springs, damping solutions and electromechanical drives for motion control, successfully completed the first quarter of its fiscal year 2017 (ending 30 September 2017), achieving a strong expansion of the business.

In the first quarter of fiscal 2017, the Group's revenues rose by 25.9% compared with the prior-year period from EUR 167.3 million to EUR 210.7 million. Companies acquired in the 2016 fiscal year - ACE, Hahn Gasfedern, Fabreeka and Tech Products - contributed EUR 26.6 million to this revenue increase.

Business performance was positive in all regions. In Europe, revenue increased by 27.0% from EUR 80.5 million to EUR 102.2 million. As well as revenues of EUR 16.7 million contributed by the newly acquired companies, the Powerise business in particular achieved strong expansion thanks to the growing trend toward SUVs. In the NAFTA region, Stabilus increased revenues from EUR 67.3 million to EUR 81.6 million (+21.2%). Here too, not only the acquired companies, but also the Powerise business contributed decisively to this result. In Asia / Pacific and RoW (rest of world), revenues grew by 36.7% from EUR 19.6 million to EUR 26.8 million, largely thanks to the acquisition of new customers and increased production capacity in China.

Supported by sales at the new companies ACE, Hahn Gasfedern, Fabreeka and Tech Products, the industrial business made the largest contribution to the Group's revenue in this quarter, growing by 58.7% from EUR 46.7 million to EUR 74.1 million. The automotive business also achieved clear double-digit growth in the first quarter of 2017, rising by 13.2% from EUR 120.6 million to EUR 136.5 million. Powerise technology remained the most important revenue driver in this business segment, with revenue increasing from EUR 42.5 million to EUR 53.4 million (+25.6%) in the first quarter of fiscal 2017.

At EUR 29.4 million, adjusted EBIT in Q1 FY2017 was up 42.0% compared with the previous year's figure of EUR 20.7 million. The adjusted EBIT margin was 14.0%, compared with 12.4% in the first quarter of the previous year. The increase was largely due to the higher share of revenue achieved by the industrial business during the past quarter.

Profit in Q1 FY2017 stood at EUR 29.8 million after EUR 13.5 million in the same quarter of the previous year.

Dietmar Siemssen, CEO of Stabilus, said: "We made a strong start to the new fiscal year. With the industrial acquisitions completed in the last fiscal year, we took another important step in our development to becoming the world's leading company for systems and solutions to initiate, control and damp motion. Good progress has been made on integrating the teams and joint projects are now under way. The teams share our understanding of products, quality and customer orientation. Our innovative motion control solutions are now part of everyday life for many millions of people. The megatrends of comfort, ergonomics and occupational health and safety affect all industries and regions worldwide. This is reflected in our sales growth. We are confident we will achieve double-digit growth in the current year too."

Stabilus has reaffirmed its forecast for the full fiscal year 2017 as published in the 2016 Annual Report, subject to the conditions outlined therein. According to this forecast, Stabilus expects revenues of EUR 865 million and an adjusted EBIT margin of 13% to 14%. This revenue forecast was based on the assumption of an average exchange rate of US$ 1.15 / EUR during the full fiscal year of 2017. (An average rate of US$1.10 / EUR in fiscal 2017 corresponds to revenue of approx. EUR 880 million, while an average rate of US$1.20 / EUR would mean revenue of approx. EUR 851 million).

The complete report for the first quarter of fiscal 2017 in English is available to download from the Investor Relations section at www.ir.stabilus.com.

Press Contact:
Ralf Krenzin
Tel.: +49 261 8900 502
Email: rkrenzin@stabilus.com

Charles Barker Corporate Communications
Tobias Eberle
Tel.: +49 69 794090 24
Email: Tobias.Eberle@charlesbarker.de
Investor relations contact:
Andreas Schröder
Tel.: +352 286 770 21
Email: anschroeder@stabilus.com
 
 

About Stabilus

As one of the world's leading providers of gas springs, damping solutions and electromechanical POWERISE drives, Stabilus has for eight decades been demonstrating its expertise in the automotive industry and a variety of other sectors. Gas springs, dampers and electromechanical drives from Stabilus optimize opening, closing, lifting, lowering and adjusting actions, and also protect against vibration. Employing more than 5,000 people worldwide, the company has its operational headquarters in Koblenz. Stabilus has reported sales revenues of EUR737.5m in the 2016 business year. Stabilus operates production plants in nine countries and distributes its products in over 50 countries in Europe, North, Central and South America as well as Asia Pacific via its regional offices and sales partners. Stabilus is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the SDAX index.

Important Notice

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.



13.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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