EQS-News

Stabilus SE continues successful development with strong start to fiscal 2023 - Seite 2

 

All regions contribute to growth in Q1 FY2023; the Americas stands out

In the EMEA segment, revenue increased by 3.5% to €109.2 million in Q1 FY2023 (Q1 FY2022: €105.5 million). The main revenue driver with organic growth of 21.7% was the business segment Automotive Powerise, which outpaced the increase in vehicle production in the region. Stabilus achieved the largest revenue increase of all regions in Q1 FY2023 at 41.5% to €109.2 million (Q1 FY2022: €77.2 million) in the Americas segment, whereby currency translation had a supportive effect (organic growth +23.2% compared to the previous year). The growth is attributable in particular to a strong development of the industrial business in all segments as well as a general increase in vehicle production on the continent. In the Asia-Pacific (APAC) segment, the company recorded a year-on-year revenue increase of 18.3% to €72.3 million (Q1 FY2022: €61.1 million), which is mainly attributable to a renewed strong development of the Automotive business unit (organic growth in Automotive Powerise +42.2% and Automotive Gas Spring +2.7% year-on-year).

 

Automotive Powerise and Industrial drive revenue development

Broken down by business unit, Automotive Powerise remains the fastest-growing segment with organic revenue growth of 31.9% to €107.8 million (Q1 FY2022: €76.7 million), despite an only slight increase in vehicle production worldwide. This is mainly due to the continuing high demand for powered tailgates from end customers. Revenue in the Automotive Gas Spring business unit amounted to €82.1 million (Q1 FY2022: €76.5 million), which corresponds to a gain of 2.7%. The Industrial business unit also grew again with a revenue increase of 8.1% in Q1 FY2023 to €100.8 million (previous year: €90.5 million). The market segment Energy, Construction, Industrial Machinery & Automation (ECIMA) performed particularly well, increasing its share of Industrial revenue from 17% to 23%. This was mainly at the expense of the Health, Recreation & Furniture (HRF) segment, while the Distributors, Independent Aftermarket and E-Commerce (DIAMEC) segment declined only slightly and revenue share in the Mobility segment remained unchanged.