Stabilus GmbH: Stabilus planning IPO in 2014
Apr 25, 2014 1:15 PM
Stabilus S.A. / Key word(s): IPO
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Stabilus planning IPO in 2014
The globally active automotive and industrial supplier Stabilus targets to be listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The issuer will be the Luxembourg-based holding Stabilus S.A. 1. It is envisaged to partially place shares held by the current owner Triton as well as new shares from a capital increase in the amount of EUR 65m. Stabilus plans to use the expected net proceeds from the capital increase to reduce its debt, thereby increasing the group's financial flexibility. The IPO is planned for 2014.
Stabilus develops and produces electromechanical drives, gas springs and dampers. The company is headquartered in Koblenz and employs around 4,000 people worldwide. Funds advised by the European private equity firm Triton acquired Stabilus in early 2010.
Dietmar Siemssen, CEO of Stabilus, says: "With our innovative products we are meeting the growing requirements for comfort, ergonomics and safety worldwide, thus serving one of the megatrends of our time. The planned IPO is a sensible step and comes at a time when our finances and our organisation are very well set up for a successful, independent future."
Stabilus products in the automotive segment are used in a broad range of applications such as tailgates, hoods, doors and convertible tops. Stabilus supplies over 100 automotive clients and, by its own estimates, has approximately 70% market share for gas springs worldwide. In addition, Stabilus supplies around 2,500 industrial customers, for example in medical and rehab technology (operating tables, hospital beds, wheelchairs), transportation and traffic (flaps and lids for luggage, loading and maintenance), furniture (cabinet lids, beds, tables) and house and building technology (skylights, smoke exhaust vents, awnings). Stabilus estimates that it has a global market share of around 35% in the industrial segment.
Strong global market growth thanks to rising comfort and safety requirements
Global market leader with a high level of innovation
Leading technology and global presence
In the 2012/2013 fiscal year, Stabilus generated sales of approximately EUR 460m and EBIT, adjusted for non-recurring effects, of around EUR 59m. Over the last four years, sales and adjusted EBIT have risen by an average of 8.6% and 17.6% respectively. This trend has continued in the current business year: in the first half of 2013/2014 sales amounted to around EUR 246m. Compared to the prior-year period this is an increase of approximately 12%. Adjusted EBIT rose to around EUR 30m, approximately 16% up on the prior-year period.
Commerzbank and J.P. Morgan will manage the IPO as Joint Global Coordinators and Joint Bookrunners; Société Générale Corporate & Investment Banking and UniCredit Bank have been mandated as Co-Lead Managers.
These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These materials do not constitute an offer of securities for sale in the United States. The securities to which these materials relate have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of securities in the United States.
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This document is for information purposes only and is not a prospectus. Investors should not purchase or subscribe for any shares referred to in these documents except on the basis of information in the prospectus to be published in connection with the offering of such shares. The prospectus will be available on the website of the BaFin (http://www.bafin.de), the website of the Luxembourg Stock Exchange (http://www.bourse.lu) and on the website of Stabilus (http://www.stabilus.com).
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart|
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