BERLIN (dpa-AFX) - Stabilus SE (SIUAF), a German supplier of motion control solutions, reported Monday weak profit in its second quarter, despite year-over-year growth in revenues. Further, the company confirmed its forecast for the fiscal year 2025.
In the second quarter, profit was 11.2 million euros, down from last year's 18.1 million euros.
Adjusted operating profit or adjusted EBIT amounted to 37.7 million euros, down 3.1 percent from 38.9 million euros a year ago. The corresponding adjusted EBIT margin fell to 11.2 percent from 12.4 percent in the prior year.
Revenue, however, grew 7.8 percent in a challenging environment to 338.0 million euros from prior year's 313.5 million euros, due to consolidation of Destaco and solid performance in the Americas and EMEA regions.
Meanwhile, the APAC region recorded a revenue decline of 0.7 percent.
The company noted that the integration of Destaco is now largely complete and ongoing projects including further localization of production and the introduction of new products are proceeding according to plan.
Over the past twelve months, Destaco generated revenue of 187.1 million euros and an adjusted EBIT margin of 19.6 percent.
Looking ahead, for fiscal 2025, Stabilus continues to expect revenue of 1.3 billion euros to 1.45 billion euros, an adjusted EBIT margin in the range of 11 percent to 13 percent as well as an adjusted FCF of 90 million euros to 140 million euros. The company anticipates catch-up effects in the second half of the current fiscal year.
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