Stabilus S.A.: Second quarter of financial year 2021 better than expected; forecast for FY2021 raised

Stabilus S.A.: Second quarter of financial year 2021 better than expected; forecast for FY2021 raised

Luxembourg/Koblenz, April 12, 2021 - In the second quarter of the financial year 2021 Stabilus S.A. has performed better than expected at the beginning of the financial year. Based on preliminary figures, group revenue increased by 10.4 per cent year-over-year to EUR 244.0 million in Q2 FY2021 (Q2 FY2020: EUR 221.0 million). Adjusted EBIT^[1] grew by 22.2 per cent to EUR 38.0 million in Q2 FY2021 (Q2 FY2020: EUR 31.1 million), corresponding to an improvement in the adjusted EBIT margin from 14.1 to 15.6 per cent in the reporting period.

Against the backdrop of the business performance in the first half of FY2021, Stabilus is raising its full-year guidance to revenue of EUR 900 million to EUR 950 million (previously: EUR 850 million to EUR 900 million) with an adjusted EBIT margin of 13 to 15 per cent (previously: 12 to 13 per cent).

The increase in revenue in the second quarter of FY2021 was particularly due to a stronger automotive business in Asia Pacific (APAC) - both in Automotive Gas Spring and Automotive Powerise. The performance was supported by higher year-on-year vehicle production in Asia. In addition, Stabilus achieved stronger than expected revenue growth in Automotive Powerise in the Americas and EMEA regions. A recovery in the industrial business in EMEA also contributed to the positive development of group sales. The business development in the mentioned areas as well as the implementation of measures to save costs and optimise processes contributed significantly to the increase in adjusted EBIT in the second quarter.

The full set of quarterly figures (half-year report) will be published on May 3, 2021 as scheduled.

^[1] "Adjusted EBIT" corresponds to the definition in the 2020 Annual Report, page 26.

# End of ad hoc announcement #

Investor contact:
Andreas Schröder
Group Financial Reporting Director
Tel.: +352 286 770 21
E-Mail: anschroeder@stabilus.com

Press contact:
Peter Steiner
Charles Barker Corporate Communications
Tel.: +49 69 794090 27
E-Mail: stabilus@charlesbarker.de