Stabilus SE Consolidates DESTACO, Boosting Revenue and Results in Q3 FY2024

Stabilus SE reported a significant revenue increase of 14.4% to €350.7 million in Q3 FY2024, primarily due to the initial consolidation of DESTACO. DESTACO contributed €48.8 million to the revenue with an EBIT margin of 19.9%. Adjusted EBIT was €43.1 million, reflecting a margin of 12.3%.

Revenue in the EMEA region increased by 8.5% to €140.9 million, while the Americas saw growth of 21.8% to €133.9 million. The APAC region achieved revenue growth of 13.8% year-on-year to €75.9 million, with organic growth of 3.2%.

The Automotive Gas Spring unit recorded a 2.7% increase in revenue to €88.8 million. However, the Automotive Powerise unit saw a 4.7% decline, with significant reductions in call-offs for electric vehicle products.

Stabilus' updated forecast for fiscal year 2024 anticipates revenue between €1.3 billion and €1.35 billion and an adjusted EBIT margin of 11.7% to 12.3%.