Stabilus SE confirms preliminary figures for FY2024, proposes dividend of €1.15 per share and announces forecast for FY2025

CORPORATE NEWS

Stabilus SE confirms preliminary figures for FY2024, proposes dividend of €1.15 per share and announces forecast for FY2025

• Stabilus confirms preliminary figures: revenue grew by 7.5% to €1,305.9 million in FY2024 (FY2023: €1,215.3 million)

• Adjusted EBIT^[1] at €157.1 million, compared to €158.4 million in the previous year, corresponding to a margin of 12.0%

• Profit at €72.0 million (FY2023: €103.3 million) and adjusted free cash flow (adj. FCF^[1]) of €132.8 million (FY2023: €107.3 million)

• Forecast for FY2025 foresees revenue of €1.3 billion to €1.45 billion with an adjusted EBIT margin of 11% to 13% and adjusted free cash flow of €90 million to €140 million - wider range reflects volatility of target industries

• The Management Board and the Supervisory Board will propose to the Annual General Meeting that a dividend of €1.15 per share will be paid (FY2023: €1.75 per share)

Koblenz, December 9, 2024 – Stabilus SE (WKN: STAB1L, ISIN: DE000STAB1L8), one of the world's leading suppliers of motion control solutions for a wide range of industries, today confirmed its preliminary financial figures published on November 11, 2024 for fiscal 2024 (ended September 30, 2024) and published its 2024 Annual Report. In an economically very challenging environment, the company achieved revenue growth of 7.5% to €1,305.9 million. This increase was mainly due to the first-time consolidation of Destaco in the second half of fiscal 2024. With an adjusted EBIT margin of 12.0%, Stabilus thus fulfilled its forecast for the fiscal year which was adjusted in June 2024.

Based on the profit of €72.0 million achieved in FY2024 (FY2023: €103.3 million), the Management Board and the Supervisory Board will propose to the Annual General Meeting taking place on February 5, 2025 that a dividend of €1.15 per share will be paid (FY2023: €1.75 per share). This represents a total dividend payout of €28.4 million (FY2023: €43.2 million) and a payout ratio of approximately 40% (FY2023: 42%). This is at the upper end of the range under the company’s dividend policy, which targets payouts of between 20% and 40% of profit.

Dr. Michael Büchsner, CEO of Stabilus, said: "In a very challenging year for us and our customers from a macroeconomic point of view, Stabilus has once again proven to be resilient. We see this as confirmation of our strategy of diversification: the expansion of the industrial business has proved to be successful, especially in this difficult market environment. We are confident that we will continue to be able to meet the challenges of the market with this balanced profile in the 2025 fiscal year and expect solid business development. Our forecast for the current fiscal year takes into account the ongoing volatility in our target industries. The structural trends that benefit our motion control solutions are intact. We continue to invest in innovation to maintain our competitive edge."

Stefan Bauerreis, CFO of Stabilus, said: "Despite the difficult market environment, we were able to maintain a very high profitability of the Group and want to share a dividend with our shareholders on the upper end of the defined distribution range. With regard to the balance sheet, our priority remains to reduce our net debt ratio, which we aim to reduce well below two in the coming years." 

APAC continues to grow strongly in FY2024

In Asia-Pacific (APAC), Stabilus recorded strong revenue growth of 16.1% year-on-year to €311.5 million (FY2023: €268.2 million), while revenue in EMEA increased by 5.8% to €525.5 million (FY2023: €496.6 million) and in the Americas by 4.1% to €469.0 million (FY2023: €450.5 million). In the latter regions, Destaco's consolidation offset the organic revenue decline.

Automotive Powerise remains the fastest-growing business unit

In terms of business units, Stabilus recorded organic revenue growth of 3.3% to €438.8 million in Automotive Powerise in fiscal year 2024 (FY2023: €429.3 million) and organic growth of 1.4% to €349.5 million (FY2023: €341.4 million) in Automotive Gas Spring. The Industrial Components business unit recorded an organic revenue decline of 2.7% in FY2024. The Industrial Automation business unit, which includes Destaco, generated revenue of €95.4 million after first-time consolidation in the second half of FY2024. 

In terms of market segments, the first-time consolidation of Destaco led to a strong increase in revenue in Industrial Machinery & Automation. The Aerospace, Marine & Rail (AMR), and Health, Recreation & Furniture (HRF) developed positively. Automotive (AGS and APR) finalized the fiscal year with slight growth, mainly due to a strong first half of the year. In the other market segments, there were declines in revenue in the 2024 fiscal year.

Adjusted EBIT margin of 12.0% in FY2024

In FY2024, adjusted operating profit (adjusted EBIT) amounted to €157.1 million, compared to €158.4 million in FY2023. This corresponds to an adjusted EBIT margin of 12.0%, compared with 13.0% in the previous year. In FY2024, profit was €72.0 million (FY2023: €103.3 million). This figure was down significantly year-on-year, driven mainly by depreciation and amortization from Destaco purchase price allocation, acquisition-related interest expenses, as well as higher taxes, after one-time special effects in fiscal 2023.

Forecast for FY2025 foresees revenue of €1.3 billion to €1.45 billion and an adjusted EBIT margin of 11% to 13%

For fiscal 2025, Stabilus expects revenue of €1.3 billion to €1.45 billion and an adjusted EBIT margin of 11% to 13%. In addition, Stabilus is forecasting a range for adjusted free cash flow for the first time, which is expected to be in a range of €90 million to €140 million. The forecast reflects the ongoing volatility in Stabilus' target industries.

The 2024 Annual Report, which includes an interview with Stefan Eggers, Head of Stabilus Business Unit Industrial Automation (Destaco), can be downloaded on the company's website at ir.stabilus.com.

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^[1] Cf. definition/calculation of KPI’s adjusted EBIT and adjusted free cash flow  (adj. FCF) in our  current financial reports and results presentations, .e.g., in our 2024 Annual Report, pp. 48ff., that can be downloaded from the company’s website at ir.stabilus.com.

Investor contact:
Andreas Schröder
Tel.: +49 261 8900 8198
E-Mail: anschroeder@stabilus.com
Web: ir.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 a wide range of industries including mobility, industrial machinery, automation, energy, construction, health, leisure and furniture. Stabilus offers reliable and innovative solutions that enable, enhance and automate precise movement, positioning, opening, closing, lifting, lowering and adjusting actions. Employing a workforce of more than eight thousand worldwide, the Group has its operational headquarters in Koblenz, Germany, and reported revenue of €1.3 billion in fiscal year 2024. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the MDAX index. For more information, see group.stabilus.com and ir.stabilus.com.

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.