EQS-News

STS Group AG publishes annual report 2023 - Forecast well met thanks to positive development in all regions

EQS-News: STS Group AG / Key word(s): Annual Report/Annual Results STS Group AG publishes annual report 2023 - Forecast well met thanks to positive development in all regions 28.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. STS Group AG publishes annual report 2023 - Forecast well met thanks to positive development in all regions

• Sales revenue growth in all regions
• Asia and Europe as key growth drivers
• Sales revenue increased by 18.2% to 277.9 mEUR (2022: 235.1 mEUR)
• EBITDA more than doubled to 20.5 mEUR (2022: 9.6 mEUR)
• EBITDA margin increased to 7.4% (2022: 4.1%)
• Forecast 2024: high single-digit sales revenue growth with a high single-digit EBITDA margin 

Hagen, 28 March 2024 - STS Group AG (ISIN: DE000A1TNU68), a global systems supplier to the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its annual report and audited consolidated figures for the financial year 2023. The results confirm that the STS Group AG has well met its annual forecast for sales revenue, EBITDA and EBITDA margin in the 2023 financial year.

Alberto Buniato, CEO of STS Group AG: "We are on the right track with the STS Group. Our cost-cutting measures have paid off, and our excellently positioned products have also enabled us to benefit from the strong market recovery in the commercial vehicle sector in China, Europe and Mexico. This is reflected in a very pleasing development in sales revenue and operating profit. However, despite a solid EBITDA margin, we have not yet been able to pivot to a positive bottom line. Looking ahead to 2024, business in Europe will be more challenging due to economic headwinds, but we expect growth to be fueled in particular by the start of series production at our new plant in the USA.”

Sales revenue development

STS Group AG generated consolidated sales revenue of 277.9 mEUR in the 2023 financial year, compared to 235.1 mEUR in the same period of the previous year. The strong growth of 18.2% is in line with the annual forecast and was driven by all three segments. The STS Group benefited in particular from a significant recovery in the European and especially the Chinese truck market. This was reflected in rising customer call-offs. Thus, the China segment increased its sales revenue by 67.5% to 51.0 mEUR (2022: 30.4 mEUR), also benefiting from the end of the strict zero-Covid policy in China, which had regularly led to delivery delays or production stoppages in the past. Sales revenue in the Plastics segment was up 12.9% to 203.1 mEUR (2022: 179.8 mEUR) which was mainly due to significant growth of both the European activities and at the Mexican plant, the latter also benefitting from the strong demand from the USA. The Materials segment also recorded a slight growth in sales revenue of 6.2% to 38.5 mEUR (2022: 36.3 mEUR) mainly driven by the increased demand for heavy commercial vehicles and SMC products.