German supplier, Stabilus, has reported a decline in after-tax profit for the fourth quarter of fiscal 2023. The company attributes this decrease to a fall in revenue and profitability when compared to its record performance last year.
Financial Figures
According to preliminary figures, Stabilus’s after-tax profit for the quarter ended Sept. 30 was 23.5 million euros ($25.1 million), down from EUR35.9 million in the same period the previous year. Revenue also saw a decrease, dropping from EUR320.3 million to EUR307.5 million. When adjusting for currency effects, revenue fell by 1.5%.
Marginal Improvement
Stabilus’s adjusted earnings before interests and taxes (EBIT) margin experienced a slight narrowing, moving from 15.5% to 14%. However, the company views this as an improvement compared to the previous three quarters.
Factors Contributing to Results
The challenging business environment and extraordinarily high figures achieved in the fourth quarter of fiscal 2022, due to accumulated demand, are considered as major factors contributing to these results.
Outlook for Fiscal 2024
For fiscal year 2024, Stabilus forecasts a full-year revenue between EUR1.4 billion and EUR1.5 billion, with an adjusted EBIT margin ranging from 13% to 14%. This projection assumes the successful completion of their planned acquisition of Destaco by the end of February.
