Stabilus SE (SIUAF), a prominent provider of motion control solutions, announced on Monday that its third-quarter profit rose to 24.3 million euros, up from 21.7 million euros in the same period last year.
Adjusted operating profit (EBIT) saw a 2.9% increase to 43.1 million euros compared to the previous year's figure. Consequently, the adjusted EBIT margin was 12.3%, slightly down from 13.7% a year ago.
The company's revenue experienced a 14.4% boost, amounting to 350.7 million euros, up from 306.5 million euros in the previous year. This surge is largely attributed to the initial consolidation of DESTACO.
However, when adjusted for acquisition and currency effects, group revenue actually declined by 2.5%, largely due to reduced call-off volumes in the Automotive and Commercial Vehicles segments.
Stabilus also reaffirmed its recently updated forecast, maintaining its revenue projection of between 1.3 billion euros and 1.35 billion euros, with an adjusted EBIT margin ranging from 11.7% to 12.3% for the 2024 fiscal year.
The forecast takes into account the consolidation of DESTACO from April to September 2024.
