DGAP-News: Stabilus S.A. / Key word(s): Final Results/Dividend
Stabilus S.A. confirms preliminary figures for FY2017 and proposes to annual shareholder meeting payment of a dividend of EUR 0.80 per share
- Revenues in FY2017 rise +23.4 percent to EUR 910.0 million; organic growth excluding acquisitions and currency movements 11.3 percent
- Adjusted EBIT +40.8 percent to EUR 137.6 million; adjusted EBIT margin 15.1 percent
- Net income in FY2017 EUR 79.2 million, up from EUR 48.0 million in FY2016 - payment of a dividend of EUR 0.80 per share proposed
- Approx. 7 percent organic revenue growth (at an unchanged year-on-year USD/EUR exchange rate) and an adjusted EBIT margin of approx. 15.5 percent for FY2018 anticipated
Luxembourg/Koblenz, December 15, 2017 - Stabilus S.A. (ISIN: LU1066226637), one of the world's leading suppliers of gas springs, damping solutions and electromechanical drives for motion control, today confirmed the preliminary figures released on November 27, 2017 and published its annual report for 2017. The company reported strong revenue growth across all geographies and markets and was further able to expand its position as a global, leading supplier of motion control systems and solutions. Making a major contribution to this was the full integration of ACE, Hahn Gasfedern, Fabreeka and Tech Products, the companies acquired in the summer of 2016. Stabilus continues to benefit from global megatrends such as demographic change, growing demand for comfort, and higher work safety standards.
Dietmar Siemssen, CEO of Stabilus, stated: "In the past year, we were once again able to deliver a significant boost to both revenues and income. The successful integration of the companies we acquired in 2016 marks a further milestone in the ongoing development of our company. By proposing a dividend, we would like our investors to share in this success. In addition, we unveiled our new long-term strategy plan STAR 2025, mapping out how we intend to continue our growth story."
The Stabilus management board and supervisory board have resolved to propose to the annual shareholder meeting taking place on February 14, 2018 in Luxembourg payment of a dividend of EUR 0.80 per share for the 2017 business year (dividend for FY2016: EUR 0.50).
Group revenues rose year-on-year in fiscal 2017 by 23.4 percent, advancing from EUR 737.5 million to EUR 910.0 million. Organic growth - excluding USD/EUR currency movements, and without revenue contribution of companies acquired in 2016 - stood at 11.3 percent. Broken down by regions, group revenues climbed by 25.3 percent in Europe, 21.3 percent in NAFTA, and by 22.2 percent in Asia/Pacific and RoW (Rest of World).
Sales revenues in the automotive business rose in FY2017 by EUR 68.4 million (+13.3 percent) to EUR 583.7 million, while Powerise revenues in the year under review grew by 24.5 percent to EUR 243.2 million. Similarly, sales of gas springs for the automotive segment accelerated at a rate that significantly outperformed underlying market growth, moving ahead by 6.4 percent to EUR 340.5 million.
The industrial business reported revenues of EUR 326.3 million, a substantial year-on-year increase of EUR 104.1 million (+46.8 percent). This strong increase was driven by organic growth in the market for industrial gas springs and dampers as well as the added revenues from the acquisitions made in June 2016.
Adjusted EBIT in FY2017 rose by 40.8 percent to EUR 137.6 million (FY2016: EUR 97.7 million). The adjusted EBIT margin advanced from 13.2 percent in the 2016 fiscal year to 15.1 percent in fiscal 2017. Group net income in FY2017 have climbed to EUR 79.2 million, up from EUR 48.0 million in the previous year.
Free cash flow amounted to EUR 77.8 million in FY2017, up from EUR 57.3 million in the previous year (before acquisitions). This increase reflects the strong revenue and earnings growth in fiscal 2017.
For the 2018 financial year (ending September 30, 2018) Stabilus is expecting organic revenue growth of approx. 7 percent to EUR 975 million (assuming a, compared to the previous FY, constant average USD/EUR exchange rate in FY2018 of 1.10; Stabilus would expect revenues of some EUR 960 million assuming the current average USD/EUR exchange rate of 1.15). It is anticipated that the adjusted EBIT margin will stand at around 15.5 percent.
The full English-language annual report can be downloaded from the Investor Relations section at www.ir.stabilus.com. The annual report also includes details of the long-term strategy plan STAR 2025.
 For definition / calculation of 'adjusted EBIT' and 'net financial leverage' please refer to our Annual Report 2017, pp. 44 and 50, under http://ir.stabilus.com/websites/stabilus/English/4007/finanzberichte-_amp_-praesentationen-2017.html.
As one of the world's leading suppliers of gas springs, damping solutions and electromechanical drives, Stabilus has for eight decades been demonstrating its expertise in the automotive industry and a variety of other sectors. Gas springs, dampers and electromechanical POWERISE drives from Stabilus optimize opening, closing, lifting, lowering and adjusting operations, and also protect against vibrations. Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz. Stabilus has reported sales revenues of EUR 910.0 million in the 2017 fiscal year. Stabilus has a global production network encompassing plants in nine countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North, Central and South America, and in Asia Pacific. Stabilus is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the SDAX index.
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.
15.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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