Stabilus SE: With record revenue in Q4 FY2022, Stabilus achieved annual revenue of €1.1 billion, exceeding the threshold of €1 billion for the first time

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Stabilus SE: With record revenue in Q4 FY2022, Stabilus achieved annual revenue of €1.1 billion, exceeding the threshold of €1 billion for the first time

• According to preliminary figures, revenue in FY2022 at €1,116.3 million (FY2021: €937.7 million) and adjusted EBIT^[1] margin at 14.0% (FY2021: 14.4%)

• Profit at €104.3 million (FY2021: €73.8 million) and free cashflow before acquisitions (adj. FCF^[1]) at €81.7 million (FY2021: €88.6 million)

• For FY2023 revenue of €1.1 billion to €1.2 billon with an adjusted EBIT margin of 13% to 14% expected

Koblenz, November 11, 2022 – According to preliminary figures for fiscal 2022 (ended September 30, 2022), with annual revenue of €1,116.3 billion, Stabilus SE (WKN: STAB1L, ISIN: LU1066226637), one of the world's leading suppliers of motion control solutions for a wide range of industries, surpassed the revenue threshold of €1 billion for the first time, thereby exceeding the revenue forecast raised in August 2022. Following already strong nine months, revenue and earnings growth accelerated further in the fourth quarter. The Americas and APAC operating segments (regions) in particular contributed to this development, supported primarily by strong global growth in the Automotive Powerise business unit.

In the fourth quarter of FY2022, Stabilus increased its revenue by 39.5% year-on-year to €320.3 million (Q4 FY2021: €229.6 million). Adjusted for currency effects, the revenue increase amounted to 31.9%. Thus, revenue in the fourth quarter is also noticeably above the level before the start of the pandemic in 2019.

On a full-year basis, the Group generated revenue of €1,116.3 million according to preliminary figures, compared to €937.7 million in the previous year (+19.0%, organically +14.2%, year-on-year), as well as adjusted EBIT of €156.2 million (FY2021: €135.0 million), corresponding to an adjusted EBIT margin of 14.0%. Stabilus has thereby exceeded its full-year revenue forecast of c. €1,070 million, which was raised in August 2022, and met its projected adjusted EBIT margin of c. 14%.

Dr. Michael Büchsner, CEO of Stabilus, said: “In the current overall economic situation and global market turbulence, we not only fully met our forecast, but also surpassed the long-set target of a revenue threshold of €1 billion. In particular, the strong growth of the Automotive Powerise business unit shows that we are technologically well positioned and that it is above all innovations that are paving the way into the future for Stabilus.”

Strong business in Americas and APAC regions

In EMEA, revenue in FY2022 increased by 1.2% to €469.4 million (FY2021: €464.0 million). In the Americas, revenue grew by 19.8% year-on-year to €387.5 million (FY2021: €323.5 million). In Asia-Pacific (APAC), the company again recorded above-average revenue growth of 72.7% year-on-year to €259.4 million (FY2021: €150.2 million). The Automotive Powerise business was the strongest driver in all three regions.

Automotive Powerise business unit grows at a disproportionately high rate

Stabilus recorded organic revenue growth in all three business units in FY2022. In the Automotive Powerise business unit, which was able to significantly decouple from the development of global automotive production in the reporting period, revenue increased by 42.3% to €374.6 million in FY2022 (FY2021: €263.3 million). In the Automotive Gas Spring business unit, the company recorded a 9.6% rise to €326.0 million (FY2021: €297.4 million). The Industrial business unit revenue grew by 10.3% in FY2022 to €415.8 million compared to previous year (FY2021: €377.0 million). Stabilus recorded the strongest development in the market segments Energy, Construction, Industrial Machinery & Automation (ECIMA) and Distributors, Independent Aftermarket, E-Commerce (DIAMEC) as well as Mobility.

Adjusted EBIT margin of 14.0% in the third quarter

Adjusted operating profit (adjusted EBIT) increased by 15.7% to €156.2 million in FY2022 (FY2021: €135.0 million). This corresponds to an adjusted EBIT margin of 14.0%, compared to 14.4% in FY2021.

In FY2022, profit was €104.3 million (FY2021: €73.8 million) and free cash flow before acquisitions (adj. FCF) €81.7 million (FY2021: €88.6 million).

Forecast for fiscal 2023 foresees further growth

For fiscal 2023, Stabilus expects revenue of €1.1 billion to €1.2 billion and an adjusted EBIT margin in a range of 13% to 14%. The range of the revenue and earnings expectations reflects the current macroeconomic and geopolitical uncertainties. Stabilus continues to pursue its long-term strategy with the cornerstones of profitable and sustainable growth, customer and employee satisfaction, innovation and sustainability.

An accompanying presentation on the preliminary figures for fiscal 2022 is available in English and can be downloaded on the company's website at Investors / Financial Reports & Presentations. The final figures and the annual report for the 2022 fiscal year will be published on December 9, 2022.

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^[1] Cf. definition/calculation of KPI’s adjusted EBIT and free cash flow before acquisitions (Adj. FCF) in our current financial reports and results presentations, e.g., in our presentation of the preliminary FY2022 results, pp. 24ff., that can be downloaded from the company’s website at Investors / Financial Reports & Presentations.

Investor contact:
Andreas Schröder
Tel.: +49 261 8900 8198
E-Mail: anschroeder@stabilus.com

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

Charles Barker Corporate Communications

About Stabilus

Stabilus is one of the world's leading providers of motion control solutions for customers across a broad spectrum of industries including mobility, health, recreation, furniture, energy, construction, industrial machinery and automation. With more than eight decades of demonstrated expertise, Stabilus offers reliable and innovative motion control solutions that enable, enhance and automate opening, closing, lifting, lowering and adjusting actions. The company's customized damping and vibration isolation technology protects against shocks, vibrations and noise. Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz, Germany. In the 2022 fiscal year, Stabilus has reported revenue of €1,116.3 million according to preliminary figures. 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 and South America, as well as in Asia-Pacific. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the MDAX 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.