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Stabilus S.A. maintains successful growth trajectory with a strong set of figures for the 2016 business year

Nov 28, 2016 7:00 AM

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

2016-11-28 / 07:00



CORPORATE NEWS

Stabilus S.A. maintains successful growth trajectory with a strong set of figures for the 2016 business year

- Preliminary figures show sales revenues in the 2016 FY to have increased by +20.6 per cent to EUR737.5m (+EUR126.2m)

- Adjusted EBITDA +24.2 per cent to EUR133.3m (+EUR26.0m)

- Adjusted EBIT +29.7 per cent to EUR98.8m (+EUR22.6m); adjusted EBIT margin rises from 12.5 per cent to 13.4 per cent

- Preliminary net income for the 2016 FY EUR48.0m following EUR17.0m in the 2015 business year - Dividend to be paid for the 2016 FY

- Forecast for the 2017 business year calls for sales revenues of EUR865m and a rise in the adjusted EBIT margin to between 13 and 14 per cent

Luxembourg/Koblenz, November 28, 2016 - Stabilus S.A. (ISIN: LU1066226637), a leading worldwide supplier of gas springs, hydraulic dampers and electromechanical drives, has published preliminary figures confirming that the company had a further highly successful business year in 2016 (twelve-month period to September 30, 2016). Along with strong revenue growth in all regions and markets, Stabilus took another important step in its long-term growth strategy by acquiring ACE, Hahn Gasfedern, Fabreeka and Tech Products in summer 2016. The company has therefore reaffirmed its status as the leading global producer of systems and solutions for products that initiate, control, and dampen motion. "The integration of the companies is progressing very well. Our cultures are an excellent fit and the new employees share our enthusiasm regarding our growth strategy", said Dietmar Siemssen, CEO of Stabilus.

High demand for Stabilus motion control solutions is being further boosted by megatrends such as comfort, ergonomics, and safety in the workplace.

Preliminary figures show Group sales revenues to have increased year-on-year in the 2016 business year by 20.6 per cent, rising from EUR611.3m to EUR737.5m. Organic sales growth - excluding, in other words, the contribution made by the newly acquired companies ACE, Hahn Gasfedern, Fabreeka and Tech Products, and also excluding exchange rate effects resulting from the year-on-year rise in the strength of the US Dollar - was 14.2 per cent. The newly acquired companies contributed to Group sales revenues from Q4 of the 2016 business year, with their products and solutions having strengthened the industrial business at Stabilus, for example with solutions for vibration damping.
A breakdown by operative segments (regions) reveals that Group sales revenues rose by 18.1 per cent in Europe, by 26.0 per cent in NAFTA, and by 14.7 per cent in Asia Pacific and RoW (rest of the world).

In the past business year, the automotive business posted strong growth of EUR81.1m (+18.7 per cent) to EUR515.3m, benefiting especially from the POWERISE technology. The increase in demand for electromechanical drives is based on the additional vehicle platforms to which products were supplied for the first time in the year under review, and from the worldwide trend towards SUVs and comfort features. Over the past year, POWERISE sales rose by 39.7 per cent, climbing from EUR139.8m to EUR195.3m. Additionally, sales of gas springs for the automotive sector grew from EUR294.4m to EUR320.0m, equivalent to an increase of 8.7 per cent. This improvement is considerably above the overall rate of growth in the global automobile market, which grew by 3.5 percent from October 2015 to September 2016.

Sales in the industrial segment also grew significantly, rising by EUR45.1m (+25.5 per cent) to EUR222.2m. The newly acquired product groups for deceleration and vibration technology contributed to earnings from Q4 of the year under review, reported sales of EUR22.5m. The revenue of the already existing gas springs and damper business for a variety of industries grew by +14.5 per cent to EUR171.0m, while thereof EUR4.8m came from the newly acquired company Hahn Gasfedern. The Swivel Chair business also contributed to the company's growth with revenues of EUR28.6m (+3.2 per cent).

Following adjustments for special items, the preliminary figures show EBITDA to have improved in the 2016 FY by 24.2 per cent to EUR133.3m (2015 BY: EUR107.3m). At EUR98.8m, adjusted earnings (adjusted EBIT) in the 2016 FY advanced by 29.7 per cent year-on-year (PY: EUR76.2m). The adjusted EBIT margin rose correspondingly - also as a result of the consolidation of ACE, Hahn Gasfedern, Fabreeka and Tech Products - from 12.5 per cent in the 2015 business year to 13.4 per cent in FY 2016.

Preliminary figures show full-year Group earnings for the 2016 business year to stand at EUR48.0m, compared with EUR17.0m in the previous year. The executive board of Stabilus is planning to propose to the shareholder meeting in 2017 that a dividend be paid for the 2016 fiscal year. Executive board and supervisory board will decide on a proposal regarding thedividend in the coming weeks.

CEO Dietmar Siemssen stated: "We entered the 2016 business year with a busy to-do list. Following a further record year, and the successful continuation of our profitable organic growth across all segments and sales markets, we have achieved these objectives fully and completely. The acquisition, in summer 2016, of the companies ACE, Hahn Gasfedern, Fabreeka and Tech Products marked a further major milestone in the implementation of our long-term growth strategy. We have succeeded in achieving several strategic targets: building on our competencies in motion control and vibration dampening, and the strengthening of our industrial business. With our now extended product portfolio, we are rapidly advancing to become a full provider of future-oriented motion control solutions. Additionally, we were also able to add to our highly dedicated workforce. In the past fiscal year, we have paved the way for the successful continuation of our growth trajectory."

Mark Wilhelms, CFO von Stabilus, added: "The acquisitions enable us to improve our margins at Group level. We shall in future be expecting an adjusted EBIT margin of 13 to 14 per cent, up from the 12 to 13 per cent reported in previous years. Furthermore, we have, following these acquisitions, renewed our financing and go into the 2017 business year with a significantly higher equity ratio and long-term financing agreed at attractive interest terms. This gives Stabilus a stable financial foundation on which we can realize our operative development potential."

For the 2017 business year (ending on 30 September, 2017), Stabilus is expecting sales revenues of EUR865m - equivalent to a growth rate of around 17 per cent - and an adjusted EBIT margin of 13 to 14 per cent.

An English-language presentation to accompany the preliminary figures for the 2016 fiscal year can be downloaded from the Investor Relations section at www.ir.stabilus.com. Final figures and the full annual report for the 2016 business year will be published on December 15, 2016.

Press contact:
Ralf Krenzin
Tel.: +49 261 8900 502
E-Mail: rkrenzin@stabilus.com

Charles Barker Corporate Communications
Tobias Eberle
Tel.: +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 one of the world's leading providers of gas springs, damping solutions and electromechanical POWERISE drives, Stabilus has demonstated its expertise for eight decades in the automotive industry and a variety of other sectors. Gas springs, dampers and electromechanical drives from Stabilus optimize opening, closing, lifting, lowering as well as adjusting actions and protect against vibration. Employing more than 5,000 people worldwide, the company has its operational headquarters in Koblenz. Preliminary figures show Stabilus to have reported sales revenues of EUR737.5m in the 2016 business year. Stabilus operates production plants in ten countries and distributes its products in over 50 countries in Europe, North, Central and South America as well as Asia Pacific via ist regional offices and sales partners. Stabilus has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since May 2014 and was taken up in the SDAX index in September 2014.

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.



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