Stabilus Q3 Profit Rises, Adj. EBIT Margin Down; Confirms FY24 Outlook

(RTTNews) - Stabilus SE (SIUAF), a supplier of motion control solutions, reported Monday that its third-quarter profit was 24.3 million euros, higher than last year's 21.7 million.

Adjusted operating profit or adjusted EBIT increased 2.9 percent from the prior year to 43.1 million euros. This corresponds to an adjusted EBIT margin of 12.3 percent, compared to 13.7 percent a year ago.

Revenue grew 14.4 percent to 350.7 million euros from prior year's 306.5 million euros, in particular due to the initial consolidation of DESTACO.

Adjusted for acquisition and currency effects, Group revenue decreased 2.5 percent, mainly due to reduced call-off volumes in the Automotive and Commercial Vehicles segments.

Further, Stabilus confirmed its recently updated forecast, and continues to expect revenue of 1.3 billion euros to 1.35 billion euros with an adjusted EBIT margin of 11.7 percent to 12.3 percent for the 2024 fiscal year.

The forecast includes the consolidation of DESTACO for the period from April to September 2024.

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