Stabilus S.A.: Stabilus confirms preliminary figures for FY2020 and proposes dividend of EUR 0.50 per share

CORPORATE NEWS

Stabilus S.A.: Stabilus confirms preliminary figures for FY2020 and proposes dividend of EUR 0.50 per share

- Revenues in FY2020 at EUR 822.1 million (FY2019: EUR 951.3 million) and adjusted EBIT^[1] margin at 11.8% (FY2019: 15.0%)

- FY2020 result at EUR 30.0 million (FY2019: EUR 80.9 million) and free cash flow before acquisitions^[1] at EUR 62.3 million (FY2019: EUR 89.9 million)

- Revenue of EUR 850 million to EUR 900 million expected for FY2021 with an adjusted EBIT^[1] margin of 12% to 13%; Stabilus aims to achieve average annual revenue growth of 6% up to 2025 and to return to an adjusted EBIT^[1] margin of 15%

Luxemburg/Koblenz, December 11, 2020 - Stabilus S.A. (ISIN: LU1066226637), one of the world's leading suppliers of gas springs, damping solutions and electromechanical drives for motion control, today confirmed its preliminary figures released on November 13, 2020 and closed the fiscal year 2020, which ended September 30, with a recovery in business performance in the fourth quarter.

Dr. Michael Büchsner, CEO of Stabilus, said: "We were able to close the past fiscal year profitably and are looking ahead with confidence. For this reason, we want our shareholders to participate in the positive earnings situation even in this unusual year and will propose to the Annual General Meeting the payment of a dividend of EUR 0.50 per share. We believe that we are excellently positioned in our two business segments, Automotive and Industry, not least because of our innovative strength. It is therefore our goal to become a world leader in motion control solutions over the next five years."

Preliminary revenue figures for fiscal year 2020 confirmed

In the full fiscal year 2020, the Group recorded revenue of EUR 822.1 million, compared with EUR 951.3 million in the previous year (-13.6 percent, organic^[1] -13.2 percent year-on-year).

In the EMEA region, revenues amounted to EUR 411.1 million (FY2019: EUR 482.1 million) and in the Americas region to EUR 299.6 million (FY2019: EUR 365.9 million). In both regions, revenues were below the previous year's level due a drop in vehicle production and the lower demand from industrial customers as a result of the COVID-19 pandemic. In contrast to the EMEA and the Americas regions, in the APAC region the company recorded an increase in revenues compared to the previous year to EUR 111.4 million (FY2019: EUR 103.3 million). The strong development in this region was mainly due to the Automotive Powerise division, which was driven by OEMs and the introduction of new vehicle models.

In fiscal year 2020, the automotive business was affected in particular on account of pandemic-related interruptions in vehicle production for many OEMs. Revenues in the Automotive Gas Spring segment amounted to EUR 268.0 million (FY2019: EUR 331.4 million) and in the Automotive Powerise division to EUR 217.0 million (FY2019: EUR 250.0 million). In organic^[1] terms, revenues were thus 8.9 percent lower in the Powerise sector and 17.9 percent lower in the Gas Spring area than in the previous year. In this context, the distinctly better development in the Powerise segment is due to the launch of new vehicle models, advancing market penetration and the introduction of automated tailgate systems.

The share of the Industrial business in total revenues increased from 39 percent in fiscal year 2019 to 41 percent in fiscal year 2020. In the Industrial business unit, the Group generated revenues of EUR 337.1 million (FY2019: EUR 369.9 million), which is 8.9 percent (in organic^[1] terms^{11.9 percent) less than in the previous year. A good development in the Independent Aftermarket and E-Commerce subsegments did not fully offset lower customer demand in the Commercial Vehicles and Industrial Machinery & Automation subsegments.}

Adjusted EBIT margin of 11.8 percent; dividend proposal of EUR 0.50 per share

The adjusted EBIT^[1] margin in fiscal year 2020 was 11.8 percent (FY2019: 15.0 percent).

Net profit amounted to EUR 30.0 million (FY2019: EUR 80.9 million) and was burdened by non-cash impairments of intangible assets with a net effect of around EUR -18 million. Free cash flow before acquisitions (adj. FCF^[1]) was EUR 62.3 million, compared to EUR 89.9 million euros in the previous year.

The management board and the supervisory board of Stabilus have decided to propose to the annual general meeting taking place on February 10, 2021 that a dividend of EUR 0.50 per share will be paid for the 2020 fiscal year (dividend for FY2019: EUR 1.10).

Positive growth forecast up to fiscal year 2025

For fiscal year 2021, Stabilus expects revenues of EUR 850 million to EUR 900 million and an adjusted EBIT^[1] margin in the range of 12 percent to 13 percent. Up to fiscal year 2025, the company expects average revenue growth of 6 percent per year and a return to an adjusted EBIT^[1] margin of 15 percent.

The 2020 annual report can be downloaded from the company's website at Investors / Financial Reports & Presentations / 2020 .

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^[1] Cf. definition/calculation of KPI's 'adjusted EBIT' and 'free cash flow before acquisitions (adj. FCF)' provided in our current financial reports and earnings presentations, e.g. in our 2020 annual report, p. 26ff that can be downloaded from the company's website at Investors / Financial Reports & Presentations / 2020.

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

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

About Stabilus

As one of the world's leading suppliers of gas springs, damping solutions and electromechanical 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 POWERISE drives from Stabilus optimize opening, closing, lifting, lowering and adjusting operations, and also protect against vibrations. Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz. Stabilus has reported revenues of EUR 822.1 million in the 2020 fiscal year. Stabilus has a global production network encompassing plants in eleven countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North, Central and South America, and in Asia Pacific. Stabilus S.A. 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.