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Stabilus S.A. shows 14.9 percent revenue growth in Q2 FY2016

May 13, 2016 7:00 AM

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

2016-05-13 / 07:00


CORPORATE NEWS

Stabilus S.A. shows 14.9 percent revenue growth in Q2 FY2016

- Revenue in Q2 FY2016 +14.9% to EUR 180.9 million / H1 FY2016 +19.0% to EUR 348.2 million

- Adjusted EBITDA Q2 +16.0% to EUR 34.0 million / H1 +20.8% to EUR 62.7 million

- Adjusted EBIT Q2 +15.6% to EUR 25.2 million / H1 +24.5% to EUR 46.2 million

- Q2 net income of EUR 10.8 million (Q2 FY2015: EUR 19.8 million) / H1 net income of EUR 24.4 million (H1 FY2015: EUR 27.5 million)

Luxembourg/Koblenz, May 13, 2016 - Stabilus S.A. (ISIN: LU1066226637) has successfully completed the second quarter of its fiscal year 2016 (which ends September 30) with sustained strong revenue growth across all markets and business areas. The continuing trend towards comfort functions, ergonomics and work safety is supporting the demand for Stabilus' motion control solutions.

The group's revenue rose from EUR 157.5 million in Q2 FY2015 by 14.9% to EUR 180.9 million in Q2 FY2016. Stabilus continued to realize strong revenue growth in all of its regions: in Europe revenue increased by 13.7%, in NAFTA revenue rose by 19.1% while it grew by 7.1% in the region Asia / Pacific and RoW. In terms of markets, the strongest growth was realized in the Automotive market with a 17.5% increase in revenue, while the markets Industrial (+9.2%) and Swivel Chair (+6.8%) also saw rising turnovers. In the first half of its ongoing fiscal year 2016, Stabilus recorded revenue of EUR 348.2 million compared with EUR 292.6 million in the first half of its fiscal year 2015 (+19.0%).

The main growth driver in the company's automotive market remained the electromechanical POWERISE technology, which contributed revenues of EUR 48.2 million in Q2 FY2016 (Q2 FY2015: EUR 33.9 million), which represents 42.2% growth.

Apart from rising revenue, Stabilus' operating earnings figures also developed positively. Adjusted EBITDA rose by 16.0% to EUR 34.0 million (Q2 FY2015: EUR 29.3 million). In the first half of FY2016, adjusted EBITDA rose by 20.8% from EUR 51.9 million to EUR 62.7 million.

Adjusted EBIT amounted to EUR 25.2 million, up 15.6% from the prior-year level of EUR 21.8 million. In the first half of fiscal year 2016, adjusted EBIT was EUR 46.2 million compared with EUR 37.1 million in the prior-year period (+24.5%).

Net income for the second quarter of fiscal year 2016 was at EUR 10.8 million after EUR 19.8 million in Q2 FY2015. The previous quarter figure contained, amongst others, finance income of EUR 13.8 million from net foreign exchange gains (mainly due to the stronger US-Dollar), which was not recorded again in Q2 FY2016. Net income in the first half of fiscal year 2016 accordingly amounted to EUR 24.4 million after EUR 27.5 million in the prior year period.

Dietmar Siemssen, CEO of Stabilus, said: "We are very content with our development in the first half of fiscal year 2016. The demand for Stabilus products remains strong both in the automotive and industrial markets. We continue to see further growth potential from the megatrends our products address - the continuing demand for comfort functions, increasing work safety standards and ergonomics."

Important step to expanding industrial offering initiated in April 2016

At the end of April 2016, Stabilus took an important step to expanding its industrial business in signing an agreement to acquire three industrial suppliers of products for motion control as well as vibration and oscillation damping from SKF Group. With this acquisition, Stabilus will be able to increase its product offering in its industrial segment and tap new customer markets. The closing of the transaction is expected over the course of summer of 2016 and is subject to approval by the relevant antitrust authorities.

Dietmar Siemssen explained: "It is Stabilus' vision to become a global systems provider for the initiation, control and damping of motion. This acquisition is an important step to increase our product offering and tap new customer markets. Upon closing of the transaction, our revenue split will once again arrive at our strategic goal of two thirds automotive and one third industrial. This will positively affect both our independence from industry and country-specific cycles as well as our EBIT margin on a group level."

The full financial report for the second quarter of fiscal year 2016 is available for download in the Investor Relations area at www.ir.stabilus.com.

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 a globally active automotive and industrial supplier, Stabilus develops and produces electromechanical drives (POWERISE) as well as gas springs and hydraulic dampers. Employing approximately 4,400 people worldwide, the company has its operational headquarters in Koblenz. In the fiscal year 2015, Stabilus generated revenue of around EUR 611 million. Stabilus operates eleven production plants across nine countries 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 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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