EQS-News STS Group AG with noticeable market recovery in Europe in the nine-month period - Significant improvement of EBITDA in the third quarter 2022
EQS-News: STS Group AG / Key word(s): Quarterly / Interim Statement
STS Group AG with noticeable market recovery in Europe in the nine-month period - Significant improvement of EBITDA in the third quarter 2022
- Sales revenue growth in Europe could not completely offset purely market related decline in China, mainly due to continued local restrictive zero-covid policy
- Slight decline in Group sales revenue by 3.2% to 172.1 mEUR (9M/2021: 177.9 mEUR)
- EBITDA decreases in nine-month period to 7.0 mEUR (9M/2021: 13.5 mEUR), but increased to 4.2 mEUR in Q3/2022 compared to 2.9 mEUR in the first half year 2022
- Forecast 2022 confirmed
Hagen, 28 November 2022 – STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed on the General Standard of the Frankfurt Stock Exchange, today publishes its nine-month figures for 2022.
Alberto Buniato, CEO of STS Group AG: “The market recovery in Europe, which was already noticeable in the first half of the year, continued for us in the third quarter of 2022. The brightening mood contributed to a significant overall sales growth in our Plastics and Materials segments. The positive development of our site in Mexico also helped to achieve these growth rates. On the one hand, we are using joint synergies there with our strategic investor Adler Pelzer. On the other hand, the structural measures introduced last year are taking effect. Overall, the expansion of the North American business is and remains of great relevance to us. We see great potential there, which we want to leverage through further growth efforts in the region.”
STS Group AG generated sales revenue of 172.1 mEUR in the period from 1 January to 30 September 2022, compared to 177.9 mEUR in the same period of the previous year. The slight decline of 3.2% is mainly due to the drastic decline in demand in China, which is purely market related as a result of the ongoing restrictive zero-covid policy and the associated lockdowns. However, the significant growth in sales revenue in the Plastics and Materials related to a strong market recovery within the European truck market, could not fully compensate for this decline.