The gas spring manufacturer Stabilus has made a solid start to the new 2023/24 financial year.
The Koblenz-based company benefited from strong developments in the Asia-Pacific and EMEA regions in the first quarter (end of December). The annual forecast was confirmed.
In the first quarter, sales climbed by 5.1 percent to 305.4 million euros, as the MDAX-listed group announced. Adjusted earnings before interest and taxes (EBIT) rose slightly from EUR 32.6 million in the same period last year to EUR 33.3 million. The corresponding margin fell from 11.2 percent to 10.9 percent.
“In line with the development in previous financial years, we expect a stronger development in the following quarters in view of the slightly weaker adjusted EBIT margin in the first quarter, which is why we are also confirming our forecast for the full year,” said CFO Stefan Bauerreis, according to the announcement.
The bottom line was a quarterly profit of 12.2 million euros, a decrease from 15.5 million euros in the same period last year. Adjusted free cash flow increased by almost 11 percent to 36.2 million euros.
For the full year to the end of September, Stabilus continues to expect sales of 1.4 billion to 1.5 billion euros. The adjusted EBIT margin should be between 13 and 14 percent. It is assumed that the industrial automation specialist Destaco will be taken over as planned by the end of February and that its results will be consolidated in the Stabilus balance sheet from March. Destaco’s integration costs are also taken into account in the forecast.
Via XETRA, Stabilus shares temporarily lost 5.31 percent to 60.65 euros.
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