DGAP-News: Stabilus S.A. / Key word(s): 9-month figures/Interim Report
Stabilus S.A. successfully completes third quarter of fiscal year 2016 and
presents full-year guidance
12.08.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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CORPORATE NEWS
Stabilus S.A. successfully completes third quarter of fiscal year 2016 and
presents full-year guidance
- Revenue in Q3 FY2016 +14.0% to EUR 182.8 million / 9M FY2016 +17.2% to
EUR 531.0 million
- Adjusted EBITDA Q3 +14.9% to EUR 31.6 million / 9M +18.8% to EUR 94.3
million
- Adjusted EBIT Q3 +18.7% to EUR 23.5 million / 9M +22.5% to EUR 69.7
million
- Q3 net income of EUR 11.5 million (Q3 FY2015: EUR -25.5 million) / 9M
net income of EUR 35.9 million (9M FY2015: EUR 2.0 million)
- Stabilus expects FY2016 revenue of EUR 730 million and an adjusted EBIT
margin between 13.0% and 13.5%
Luxembourg/Koblenz, August 12, 2016 - Stabilus S.A. (ISIN: LU1066226637)
has successfully completed the third quarter of its fiscal year 2016 (which
ends September 30) with sustained strong revenue growth. The high demand
for Stabilus' motion control solutions is continued to be supported by the
megatrends comfort, ergonomics and work safety.
The group's revenue rose from EUR 160.4 million in Q3 FY2015 by 14.0% to
EUR 182.8 million in Q3 FY2016. Stabilus continued to realize strong
revenue growth in all of its regions: in Europe revenue increased by 14.2%,
in NAFTA revenue rose by 14.8% and by 10.4% in the region Asia / Pacific
and RoW (Rest of World). In terms of markets, the strongest growth was
realized in the Automotive market with revenue rising by EUR 21.2 million
(+19.0%). While revenue in the Industrial market also grew by EUR 2.1
million (+5.1%), the segment Swivel Chair developed less dynamically with a
EUR 0.7 million revenue reduction. Accumulated over the first nine months
of the year, however, revenue in the Swivel Chair market still grew by 1.4%
year-on-year. In the first nine months of its ongoing fiscal year 2016,
Stabilus thus recorded revenue of EUR 531.0 million compared with EUR 453.0
million in the first nine months of its fiscal year 2015 (+17.2%).
The acquisition of the SKF Group entities ACE, Hahn Gasfedern and
Fabreeka / Tech Products was successfully closed on June 30, 2016. While
the newly acquired companies have thus been consolidated in the balance
sheet of the Stabilus Group for the third quarter, the revenues of these
companies are therefore not included in Stabilus' Q3 FY2016 results.
The main growth driver in the company's automotive market remained the
electromechanical POWERISE technology, which contributed revenues of EUR
50.4 million in Q3 FY2016 (Q3 FY2015: EUR 34.8 million), which represents
44.8% growth.
Apart from rising revenue, Stabilus' operating earnings also developed
positively. Adjusted EBITDA rose by 14.9% to EUR 31.6 million (Q3 FY2015:
EUR 27.5 million). In the first nine months of FY2016, adjusted EBITDA rose
by 18.8% from EUR 79.4 million to EUR 94.3 million.
Adjusted EBIT amounted to EUR 23.5 million, up 18.7% from the prior-year
level of EUR 19.8 million. In the first nine months of fiscal year 2016,
adjusted EBIT was EUR 69.7 million compared with EUR 56.9 million in the
prior-year period (+22.5%).
Net income for the third quarter of fiscal year 2016 was EUR 11.5 million
after a loss of EUR 25.5 million in Q3 FY2015. The prior-year results
contained one-off charges relating to new financing arrangements. Net
income in the first nine months of fiscal year 2016 accordingly amounted to
EUR 35.9 million after EUR 2.0 million in the prior year period.
Dietmar Siemssen, CEO of Stabilus, said: "We have again recorded strong
organic growth in the first nine months of the ongoing fiscal year, while
at the same time sustainably strengthening our Industrial business through
the acquisition of ACE, Hahn Gasfedern and Fabreeka / Tech Products. The
integration is proceeding well: the quality of production is just as high
as that at Stabilus. Simultaneously, we're complementing each other ideally
in terms of technology and know-how as well as customer groups. The
acquisition represents a milestone in our strategic positioning. Together
with the new companies, we are able to react to specific customer requests
quickly and with high flexibility. At the same time, we are significantly
broadening our product portfolio especially in applications used in
engineering and automation. We have therefore further strengthened our
position as a global provider of systems for the initiation, control and
damping of motion for a large variety of industries."
Mark Wilhelms, CFO of Stabilus, added: "The acquisitions not only expand
our product portfolio in the Industrial business, they also improve our
group margin. Components for dampening oscillations and vibrations play an
essential role in the industrial sector because they help improve the
longevity of end products or extend the maintenance intervals of machines,
thus minimizing downtimes. In these areas, the companies have distinctive
skills for specifically customized applications in medium to small lot
sizes."
Stabilus' Management Board expects revenue in its fiscal year 2016 (ends on
September 30; including the expected revenue and earnings contributions
from the newly acquired companies in Q4) to amount to EUR 730 million and
an adjusted EBIT margin of between 13.0% and 13.5%. In its fiscal year
2015, Stabilus recorded revenue of EUR 611 million and an adjusted EBIT
margin of 12.5%.
The full financial report for the third quarter of fiscal year 2016 is
available for download in the Investor Relations area at
www.ir.stabilus.com.
<pre>
Press Contact: Investor Relations Contact:
Ralf Krenzin Andreas Schröder
Tel.: +49 261 8900 502 Tel.: +352 286 770 21
E-Mail: rkrenzin@stabilus.com E-Mail: anschroeder@stabilus.com
Charles Barker Corporate Communications
Tobias Eberle
Tel.: +49 69 794090 24
E-Mail: Tobias.Eberle@charlesbarker.de
</pre>
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 more than 5,000 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
production plants in ten countries and distributes its products in over 50
countries in Europe, North, Central and South America as well as 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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service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Stabilus S.A.
2, rue Albert Borschette
L-1246 Luxemburg
Grand Duchy of Luxembourg
Phone: +352 286 770 1
Fax: +352 286 770 99
E-mail: info.lu@stabilus.com
Internet: www.stabilus.com
ISIN: LU1066226637
WKN: A113Q5
Indices: SDAX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Munich, Stuttgart, Tradegate Exchange; Open
Market in Frankfurt
End of News DGAP News Service
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491969 12.08.2016
DGAP-News: Stabilus S.A. successfully completes third quarter of fiscal year 2016 and presents full-year guidance
| Source: EQS Group AG