By By Nina Kienle
Stabilus, a Germany-based industrial and automotive supplier, has reported a slightly lower net profit for fiscal 2023. However, the company anticipates higher revenue in the coming year due to its proposed acquisition of Destaco.
In the year ended September 30, Stabilus saw its net profit decrease to EUR103.3 million ($113.6 million) from EUR104.3 million the previous year. Despite this, the company experienced an 8.9% growth in revenue, reaching EUR1.2 billion. Adjusted earnings before interest and taxes also increased to EUR158 million compared to EUR156 million, resulting in an EBIT margin of 13%.
Stabilus plans to propose a dividend payment of EUR1.75 per share, consistent with the prior year. Looking ahead, the company forecasts a revenue increase ranging between EUR1.4 billion and EUR1.5 billion for fiscal 2024. They also project an adjusted EBIT margin of 13% to 14% during this period, which takes into account the acquisition and expected integration costs of Destaco. The acquisition is anticipated to be finalized by the end of February 2024.
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