Stabilus S.A.: Stabilus S.A. publishes annual report for FY 2014 and outlook for FY 2015
Dec 15, 2014 8:00 AM
Stabilus S.A. / Key word(s): Final Results/Forecast
Stabilus S.A. publishes annual report for FY 2014 and outlook for FY 2015
- Full year revenue +10.3 percent to EUR 507.3 million
- Adjusted EBITDA +6.2 percent to EUR 92.5 million
- Adjusted EBIT +10.2 percent to EUR 65.1 million
- Net income of EUR 10.0 million
- Stabilus expects FY 2015 revenue, adjusted EBITDA and adjusted EBIT to grow by a similar level as in FY 2014
Luxembourg/Koblenz, December 15, 2014 - Stabilus S.A. (Stabilus), the globally leading developer and producer of gas springs and hydraulic dampers, today published the annual financial report for its fiscal year 2014, which ended September 30, confirming previously published preliminary results with revenue and earnings reaching record levels. In the past fiscal year, Stabilus' revenue increased by 10.3 percent to EUR 507.3 million (FY 2013: EUR 460.1 million).
The company posted robust growth across all of its operating segments, setting a new production record with 138 million gas springs and dampers (FY 2013: 132 million) and 2.2 million Powerise systems (FY 2013: 1.2 million).
Adjusted EBITDA rose by 6.2 percent year-on-year to EUR 92.5 million. Adjusted EBIT amounted to EUR 65.1 million, up 10.2 percent from the prior-year level of EUR 59.1 million.
At EUR 10.0 million, net income significantly improved compared to the previous year net loss of EUR 16.0 million. Earnings per share amounted to EUR 0.54, after a loss per share of EUR 0.90 a year earlier.
As announced in the Stabilus IPO prospectus, Stabilus intends to retain the net income generated in fiscal 2014 to further bolster the company's balance sheet. Stabilus already made good progress with the planned reduction of its liabilities, having cut net financial debt to EUR 229 million as of September 30, 2014 from EUR 300.9 million a year earlier. The company used some of the proceeds from its IPO to reduce this debt. By refinancing liabilities that mature in 2018 in summer 2015, Stabilus plans to further reduce its interest burden by around EUR 13 million per year, compared to the current interest structure.
Dietmar Siemssen, CEO of Stabilus, said: "We're very pleased with the operating development of the company in the fiscal year 2014. The prospects for our business remain very promising and we expect that we will continue to outperform the market and grow profitably. The rising comfort requirements from customers are driving demand for gas springs, dampers and electromechanical drives. As global market leader in these products, we are benefitting above average from this trend. We will therefore continue to systematically pursue and invest in realizing our growth potential."
Mark Wilhelms, CFO of Stabilus, added: "We've progressed as planned with the reduction of our liabilities and our interest burden in the past fiscal year. From the fiscal year 2015 on, we intend to share our business success with shareholders by paying out 20 percent to 40 percent of annual net income via a dividend."
For the growth rate of revenue, adjusted EBITDA and adjusted EBIT in fiscal year 2015, Stabilus targets to achieve a similar growth rate as achieved for the fiscal year 2014.
Further information is available on the Stabilus Investor Relations Website.
As a globally active automotive and industrial supplier, Stabilus develops and produces gas springs, hydraulic dampers as well as electromechanical drives (Powerise). Employing approximately 4,000 people worldwide, the company has its operational headquarters in Koblenz. In the fiscal year 2014 Stabilus sales amounted to c. EUR 507 million. Stabilus operates 11 production plants 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 on the German Stock Exchange since May 2014 and became an SDAX member in September that year.
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