INTERIM REPORT Q2 FY2022

Capital expenditure as % of revenue 3.5% 4.2% FCF in % of revenue (1.1)% 10.6% Adjusted FCF in % of revenue 3.4% 10.6% Net leverage ratio 0.8x 0.9x

	Three months ended March 31,					Six months ended March 31,
IN € MILLIONS	2022	2021	Change	% change	IN € MILLIONS	2022	2021	Change	% change
Revenue	281.2	244.0	37.2	15.2%	Revenue	524.9	479.4	45.5	9.5%
EBIT	35.8	35.2	0.6	1.7%	EBIT	61.7	63.3	(1.6)	(2.5)%
Adjusted EBIT	39.3	38.0	1.3	3.4%	Adjusted EBIT	68.6	70.3	(1.7)	(2.4)%
Profit for the period	26.2	25.9	0.3	1.2%	Profit for the period	44.2	40.3	3.9	9.7%
					Capital expenditure	(18.6)	(19.9)	1.3	(6.5)%
EBIT as % of revenue	12.7%	14.4%			Free cash flow (FCF)	(5.6)	50.7	(56.3)	<(100.0)%
Adjusted EBIT as % of revenue	14.0%	15.6%			Adjusted FCF	17.6	50.7	(33.1)	(65.3)%
Profit in % of revenue	9.3%	10.6%
					EBIT as % of revenue	11.8%	13.2%
					Adjusted EBIT as % of revenue	13.1%	14.7%
					Profit in % of revenue	8.4%	8.4%

INTERIM GROUP MANAGEMENT REPORT	3
RESULTS OF OPERATIONS	5
DEVELOPMENT OF OPERATING SEGMENTS	11
FINANCIAL POSITION	14
LIQUIDITY	15
RISKS AND OPPORTUNITIES	18
SUBSEQUENT EVENTS	18
OUTLOOK	18

CONDENSED INTERIM CONSOLIDATED

	FINANCIAL STATEMENTS (UNAUDITED)	19

CONSOLIDATED STATEMENT OF

COMPREHENSIVE INCOME	19
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	20
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	21
CONSOLIDATED STATEMENT OF CASH FLOWS	22
NOTES TO THE CONDENSED INTERIM
CONSOLIDATED FINANCIAL STATEMENTS	23
RESPONSIBILITY STATEMENT	36

HIGHLIGHTS

H1 FY2022

Revenue increased despite the economic uncertainties in the market environment

Total Group's revenue increased by €45.5 million or 9.5% to €524.9 million (organic growth rate +6.5%), which is the highest first 6-month revenue in history of Stabilus
Revenue in APAC up by 75.2% (organic growth rate +63.5%), Americas up by 2.2% (organic growth rate - 2.8%) and EMEA down by - 4.4% (organic growth rate - 3.4%)
Revenue in Automotive Powerise® up by 22.3% (organic growth rate +17.6%), Industrial business up by 8.4% (organic growth rate +7.4%) and Automotive Gas Spring business down by - 0.3% (organic growth rate - 4.0%)

Revenue by operating segment (i.e. region, location of Stabilus company) Revenue by business unit

Key events

On March 24, 2022, an extraordinary general meeting resolved the change of the legal form from Société Anonyme (S. A.) under Luxembourg law to a European Company (Societas Europaea, SE). With registration in the Luxembourg Commercial Register on April 5, 2022, the Company now trades as Stabilus SE
Stabilus issued its second promissory loan note (Schuldscheindarlehen) in the total amount of €55.0 million in January 2022, with a variable interest rate (6M-Euribor +80bps)

INTERIM GROUP MANAGEMENT REPORT

for the three and six months ended March 31, 2022

Alternative Performance Measures (APMs) in the interim group management report for the first half of fiscal year 2022

In accordance with the European Securities and Markets Authority (ESMA) guidelines on Alternative Performance Measures, the Stabilus Group provides a definition, the rationale for use and a reconciliation of APMs used. The Group uses the following APMs: organic growth, adjusted EBIT, free cash flow (FCF), adjusted free cash flow and the net leverage ratio. The calculation of the net leverage ratio is based on net financial debt and adjusted EBITDA, which are also considered APMs.

The APM organic growth is presented because we believe it aids in understanding our operating performance. Organic growth is defined as the reported revenue growth after removing the effects of acquisitions, divestitures and at constant foreign exchange rates. The effects resulting from constant foreign exchange rates are calculated as current year revenue converted at current year exchange rates less current year revenue converted at prior year exchange rates.

The definitions and required disclosures of all other APMs are provided in the relevant sections of this interim report.

Key events in the first half of fiscal year 2022

In the first half of fiscal year 2022 (October 1, 2021, to March 31, 2022) Stabilus is still being affected by several uncertainties of the COVID-19 pandemic and additionally burdened by the war from Russia against the Ukraine since end of February 2022.

Some months ago, the geopolitical situation has worsened to an extent that was completely unimaginable. We are constantly monitoring how the war from Russia against the Ukraine may affect our economic situation. The Group expanded its global multidisciplinary crisis management team, which was initiated at the beginning of the COVID-19 pandemic and was continued over the last two years. Part of our work will be to cope with the effects of both, COVID-19 pandemic and the war from Russia against the Ukraine, on our organization in terms of customer communication, IT security and risk management, and further to monitor and analyze the situation on a weekly basis on a local and a global level as well as taking actions to address and mitigate identified risks. The Stabilus business volume within the region, especially with Russia and the Ukraine has only a minor impact on the Group´s operating performance. Whereas the sanctions and the reduced availability of important manufacturing components (e.g., wiring systems) for the vehicle production influenced our customers business. Consequences of these impacts led to temporarily plant closure of several OEMs, layers reduction and short-time work, especially in Europe.

The Group's first half of fiscal year 2022 was mainly influenced by the risks of material price increases in the global supply chain, e.g., steel, resin, and plastic, as well as the shortage of electronic components (semiconductors). Even before the outbreak of the war from Russia against the Ukraine the situation concerning the availability of manufacturing components was exhausted. In addition, to those shortages in the commodity market we are faced with strongly rising energy costs which impacted the whole economy since January 2022. All these risks and uncertainties are having negative impacts on the Group's business, particularly the EBIT margin, as well as impacting our suppliers and customers, i.e., demand of our automotive

and industrial customers. As a consequence, this influences the capacity planning of our production sites on short notice.

In the first half of fiscal year 2022, the COVID-19 crisis and the war from Russia against the Ukraine did not have any material adverse effects on the financial stability of the Stabilus Group. The financial covenants of the senior facility agreement have been complied with at all times, with a strong headroom (we refer to the disclosures of the net leverage ratio on page 17).

In addition, to the actions regarding the COVID-19 pandemic and the war from Russia against the Ukraine, Stabilus set a strong focus on its sustainability initiatives for the next fiscal years. We believe that sustainability will be one of the major issues of the next decades. One of our goals is to reduce the carbon emission by 2030 significantly and to source our energy from renewable sources.

As reported on October 7, 2021, Stabilus Group entered into a partnership with the technology company Synapticon GmbH, located in Schönaich (near Stuttgart), Germany. For this strategic partnership, Stabilus subscribed a minority stake of c. 12% of the shares in Synapticon via a capital increase. The partnership enables Stabilus to expand its digital competence, which offers significant opportunities especially for its Powerise® product line. The transaction was completed in October 2021. The agreed cash purchase price for c. 12% shares was €6.0 million (we refer to Note 8).

As reported on November 22, 2021, effective from November 25, 2021, Stabilus Group entered into a partnership with Cultraro Automazione Engineering S.r.l. located in Rivoli (near Turin), Italy. For this strategic partnership, Stabilus acquired 32.0% of the shares from the company's founders. The finally agreed cash purchase price for 32.0% shares was €17.2 million (initial payment of €16.6 million and net working capital payment of €0.6 million after the closing process). The partnership focuses on expanding the product range in the field of motion control. The transaction was completed in November 2021 (further details can be found in Note 8).

On January 28, 2022, Stabilus issued its second promissory note loan (Schuldscheindarlehen) with a total volume of €55.0 million, via its subsidiary Stabilus GmbH and Stabilus SE (formerly Stabilus S. A.) acting as guarantor. This promissory note loan has a maturity of five years with a variable interest rate (6M-Euribor +80bps). Stabilus now has a total promissory note loan volume of €150.0 million (further details can be found in Note 13).

FINANCIAL STATEMENTS (UNAUDITED)

On March 24, 2022, the Stabilus shareholders resolved in an extraordinary general meeting to change the legal form from Société Anonyme (S. A.) under Luxembourg law to a European Company (Societas Europaea, SE). With registration in the Luxembourg Commercial Register on April 5, 2022, the Company now trades as Stabilus SE. This was the first step of the announced planned change of the legal form into a European Company (Societas Europaea) and the subsequent transfer of the Company´s registered office from Luxembourg to Germany. The next extraordinary general meeting for the transfer of the Company is planned for summer 2022. Further information can be found at: www.stabilus.com/investors/se.

In the light of the challenging market circumstances and the difficult geopolitical situation, Stabilus showed a solid first half of fiscal year 2022 and thus demonstrates the stability of the Company during times of economic volatility.

Supported by the strong performance in the APAC region, the Group's total revenue increased by 9.5% to €524.9 million in the first half of fiscal year 2022. This is driven by the opening of our Powerise® production site in Pinghu, China, during the fiscal year 2021, which plays a central role in the growth of our Automotive Powerise® in the APAC region. In terms of our regions, revenue in APAC increased by 75.2% to €122.1 million and revenue in Americas increased by 2.2% to €172.5 million and is partly offset by a decline in EMEA by (4.4)% to €230.4 million (we refer to the disclosures of operating segments on page 11).

In terms of our business units, the Industrial business is back on course for growth after the weakness in prior year and increased organically by 7.4% to €197.9 million in the first half of fiscal year 2022. Our Automotive Powerise® business increased organically by 17.6% to €168.5 million in the first half of fiscal year 2022. In contrast our Automotive Gas Spring business decreased organically by (4.0)% to €158.5 million in the first half of fiscal year 2022. However, both Automotive business units outperformed the global automotive market assumptions. According to the forecast of IHS Markit the global light-vehicle production declined in the first half of fiscal year 2022 (October 2021 – March 2022) by approximately (7.5)% compared to prior year.

RESULTS OF OPERATIONS

SECOND QUARTER AND FIRST HALF OF FISCAL YEAR 2022

The tables below set out Stabilus Group's consolidated income statement for the second quarter and the first half of fiscal year 2022 in comparison to the second quarter and the first half of fiscal year 2021:

Income statement T _ 001

	Three months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
Revenue	281.2	244.0	37.2	15.2%
Cost of sales	(201.6)	(169.3)	(32.3)	19.1%
Gross profit	79.6	74.7	4.9	6.6%
Research and development expenses	(12.8)	(10.5)	(2.3)	21.9%
Selling expenses	(21.0)	(20.7)	(0.3)	1.4%
Administrative expenses	(10.2)	(10.9)	0.7	(6.4)%
Other income	0.3	2.8	(2.5)	(89.3)%
Other expenses	(0.1)	(0.2)	0.1	(50.0)%
Income / (expense) from equity-accounted investments	0.0	–	–	n/a
Profit from operating activities (EBIT)	35.8	35.2	0.6	1.7%
Finance income	2.2	5.1	(2.9)	(56.9)%
Finance costs	(2.4)	(4.2)	1.8	(42.9)%
Profit / (loss) before income tax	35.5	36.2	(0.7)	(1.9)%
Income tax income / (expense)	(9.3)	(10.2)	0.9	(8.8)%
Profit / (loss) for the period	26.2	25.9	0.3	1.2%

Income statement T _ 002

	Six months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
Revenue	524.9	479.4	45.5	9.5%
Cost of sales	(379.6)	(334.6)	(45.0)	13.4%
Gross profit	145.3	144.8	0.5	0.3%
Research and development expenses	(24.7)	(20.9)	(3.8)	18.2%
Selling expenses	(41.2)	(41.1)	(0.1)	0.2%
Administrative expenses	(20.2)	(21.0)	0.8	(3.8)%
Other income	2.5	3.1	(0.6)	(19.4)%
Other expenses	(0.1)	(1.6)	1.5	(93.8)%
Income / (expense) from equity-accounted investments	0.0	–	–	n/a
Profit from operating activities (EBIT)	61.7	63.3	(1.6)	(2.5)%
Finance income	3.6	0.4	3.2	>100.0%
Finance costs	(4.6)	(7.5)	2.9	(38.7)%
Profit / (loss) before income tax	60.7	56.2	4.5	8.0%
Income tax income / (expense)	(16.5)	(15.9)	(0.6)	3.8%
Profit / (loss) for the period	44.2	40.3	3.9	9.7%

Revenue

Group's total revenue developed as follows:

Revenue by region and business unit T _ 003

	Three months ended March 31,
IN € MILLIONS	2022	2021	Change	% change		% currency effect % organic growth
EMEA
Automotive Gas Spring	31.0	34.1	(3.1)	(9.1)%	0.0%	(9.1)%
Automotive Powerise®	23.9	24.8	(0.9)	(3.6)%	(1.3)%	(2.3)%
Industrial	70.1	68.3	1.8	2.6%	(1.8)%	4.4%
Total EMEA1)	124.9	127.3	(2.4)	(1.9)%	(1.2)%	(0.7)%
Americas
Automotive Gas Spring	25.9	23.7	2.2	9.3%	7.2%	2.1%
Automotive Powerise®	37.7	32.8	4.9	14.9%	6.6%	8.3%
Industrial	31.7	27.9	3.8	13.6%	7.2%	6.4%
Total Americas1)	95.2	84.4	10.8	12.8%	7.0%	5.8%
APAC
Automotive Gas Spring	25.1	19.7	5.4	27.4%	9.1%	18.3%
Automotive Powerise®	30.2	7.6	22.6	297.4%	30.2%	267.2%
Industrial	5.7	5.0	0.7	14.0%	6.8%	7.2%
Total APAC1)	61.0	32.3	28.7	88.9%	13.7%	75.2%
Stabilus Group
Total Automotive Gas Spring	82.0	77.6	4.4	5.7%	4.5%	1.2%
Total Automotive Powerise®	91.8	65.2	26.6	40.8%	6.3%	34.5%
Total Industrial	107.4	101.2	6.2	6.1%	1.1%	5.0%
Revenue1)	281.2	244.0	37.2	15.2%	3.6%	11.6%

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

Revenue by region and business unit T _ 004

Total revenue of €524.9 million in the first half of fiscal year 2022 increased by €45.5 million or 9.5% compared to the first half of fiscal year 2021. The positive effect from exchange rate changes amounted to €14.2 million, which resulted in organic growth of €31.3 million or 6.5% in the first half of fiscal year 2022. The revenue increase is due to higher demand of the Stabilus product group portfolio on the one hand as well as from sales price increases to our customers on the other hand. Due to the steadily strong material price inflation, and from the lengthy negotiations we can only pass some of the increasing prices with a time lag to our customers.

The increase in Group revenue in the first half of fiscal year 2022 primarily occurred in APAC (€52.4 million or 75.2%). The region was affected by the relatively stronger Chinese renminbi. Consequently, the organic growth in APAC was €44.2 million or 63.5%.

Revenue in EMEA decreased by €(10.5) million or (4.4)%, and the organic growth rate was (3.4)%, driven by the shortages in the supply chain as well as from the impacts of the war from Russia against the Ukraine.

Americas revenue increased by €3.7 million or 2.2% and is impacted by the stronger Mexican peso and US dollar compared to the euro which resulted in organic growth rate of (2.8)%.

	Six months ended March 31,
IN € MILLIONS	2022	2021	Change	% change		% currency effect % organic growth
EMEA
Automotive Gas Spring	56.9	67.6	(10.7)	(15.8)%	0.0%	(15.8)%
Automotive Powerise®	45.7	51.6	(5.9)	(11.4)%	(1.3)%	(10.1)%
Industrial	127.7	121.7	6.0	4.9%	(1.5)%	6.4%
Total EMEA1)	230.4	240.9	(10.5)	(4.4)%	(1.0)%	(3.4)%
Americas
Automotive Gas Spring	49.0	48.9	0.1	0.2%	5.2%	(5.0)%
Automotive Powerise®	65.1	68.1	(3.0)	(4.4)%	4.5%	(8.9)%
Industrial	58.4	51.8	6.6	12.7%	5.6%	7.1%
Total Americas1)	172.5	168.8	3.7	2.2%	5.0%	(2.8)%
APAC
Automotive Gas Spring	52.6	42.5	10.1	23.8%	8.0%	15.8%
Automotive Powerise®	57.7	18.2	39.5	217.0%	22.3%	194.7%
Industrial	11.8	9.0	2.8	31.1%	7.9%	23.2%
Total APAC1)	122.1	69.7	52.4	75.2%	11.7%	63.5%
Stabilus Group
Total Automotive Gas Spring	158.5	159.0	(0.5)	(0.3)%	3.7%	(4.0)%
Total Automotive Powerise®	168.5	137.8	30.7	22.3%	4.7%	17.6%
Total Industrial	197.9	182.5	15.4	8.4%	1.0%	7.4%
Revenue1)	524.9	479.4	45.5	9.5%	3.0%	6.5%

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

Cost of sales and overhead expenses

Cost of sales

Cost of sales increased from €(334.6) million in the first half of fiscal year 2021 by 13.4% to €(379.6) million in the first half of fiscal year 2022. This increase is especially due to the overall material price inflation over the last couple of months, e.g., steel, resin, and plastic, as well as to the strongly rising energy costs since January 2022. Both have a negative impact on our cost of sales. Additionally, the increase is further due to the increased business volume compared to prior year. The cost of sales increase (13.4%) is higher than the increase in revenue (9.5%). The ratio was affected positively by the higher Industrial business volume, which has lower material cost than the Automotive business and was negatively influenced by current market circumstances on the commodity market. Consequently, the cost of sales as a percentage of revenue increased by 250 basis points to 72.3% (PY: 69.8%) and the gross profit margin declined to 27.7% (PY: 30.2%).

R&D expenses

R&D expenses (net of R&D cost capitalization) increased from €(20.9) million in the first half of fiscal year 2021 by 18.2% to €(24.7) million in the first half of fiscal year 2022. The Group invested on an ongoing basis in engineering activities aimed to develop new products and product applications, e.g., into the development of the Automotive Powerise® product range to open new areas of business for Stabilus, which is also visible in an increased R&D headcount. As a result of the ongoing investment in the development of R&D the depreciation and amortization increased by €(1.3) million compared to prior year. The Group recognized non-recurring impairment charges of €(0.2) million in the first half of fiscal year 2022 compared to €(0.5) million in the first half of fiscal year 2021. The capitalization of R&D expenses (less related customer contribution) decreased from €(7.4) million in the first half of fiscal year 2021 to €(6.3) million in the first half of fiscal year 2022. As a percentage of revenue, R&D expenses increased by 30 basis points to 4.7% (PY: 4.4%).

Selling expenses

Selling expenses slightly increased from €(41.1) million in the first half of fiscal year 2021 by 0.2% to €(41.2) million in the first half of fiscal year 2022. As a percentage of revenue, selling expenses decreased by 80 basis points to 7.8% (PY: 8.6%).

Administrative expenses

Administrative expenses decreased from €(21.0) million in the first half of fiscal year 2021 by (3.8)% to €(20.2) million in the first half of fiscal year 2022. This decrease is driven by reduced personnel-related provisions due to the lower operating performance compared to prior year. As a percentage of revenue, administrative expenses decreased by 60 basis points to 3.8% (PY: 4.4%).

Other income and expense

Other income decreased from €3.1 million in the first half of fiscal year 2021 by €(0.6) million to €2.5 million in the first half of fiscal year 2022. This mainly relates to the reduced net foreign currency translation gains from the operating business, primarily in Americas, amounting to €0.5 million.

Other expenses decreased from €(1.6) million in the first half of fiscal year 2021 by €1.5 million to €(0.1) million in the first half of fiscal year 2022. Prior year includes net foreign currency translation losses from the operating business, primarily in Americas, amounting to €(1.3) million.

Finance income and costs

Finance income increased from €0.4 million in the first half of fiscal year 2021 by €3.2 million to €3.6 million in the first half of fiscal year 2022. The increase is due to the net foreign exchange gains amounting to €2.3 million from the translation of intragroup loans, cash and cash equivalents as well as from other financial liabilities (lease liabilities) and from a reversal of a unrealized provision for tax related interest expenses amounting to €1.0 million.

Finance costs decreased from €(7.5) million in the first half of fiscal year 2021 by €2.9 million to €(4.6) million in the first half of fiscal year 2022. Prior year included net foreign exchange losses amounting to €(0.9) million from the translation of intragroup loans, cash and cash equivalents as well as from financial liabilities (lease liabilities). In addition, the decrease is driven by reduced interest expenses due to the repayments of financial liabilities in the second half of fiscal year 2021. Further details are described below.

Finance costs primarily contain ongoing interest expense. Interest expense in the first half of fiscal year 2022 of €(4.4) million (PY: €(6.3) million) related to the term-loan facility as well as to the promissory note loans issued in March 2021 and January 2022. Of that amount, €(2.6) million (PY: €(2.4) million) is cash interest. In addition, an amount of €(1.7) million (PY: €(3.9) million) is due to the amortization of debt issuance cost and the amortization of the adjustment of the carrying value using the effective interest rate method. Thereof €(0.1) million (PY: €(1.5) million) relates to a voluntary prepayment of the term-loan facility in January 2022, which led to a derecognition of unamortized debt issuance costs and unamortized adjustments of the carrying value.

Income tax expense

Income tax expense increased slightly from €(15.9) million in the first half of fiscal year 2021 to €(16.5) million in the first half of fiscal year 2022. The Stabilus Group´s effective tax rate in the first half of fiscal year 2022 is 27.2% (PY: 28.3%).

Reconciliation of EBIT to adjusted EBIT

The following table shows a reconciliation of EBIT (earnings before interest and taxes) to adjusted EBIT for the second quarter and the first half of fiscal year 2022 in comparison to the second quarter and the first half of fiscal year 2021:

Reconciliation of EBIT to adjusted EBIT T _ 005

	Three months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
Profit from operating activities (EBIT)	35.8	35.2	0.6	1.7%
PPA adjustments – depreciation and amortization	3.5	2.8	0.7	25.0%
Adjusted EBIT	39.3	38.0	1.3	3.4%

		Six months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
Profit from operating activities (EBIT)	61.7	63.3	(1.6)	(2.5)%
PPA adjustments – depreciation and amortization	6.9	7.0	(0.1)	(1.4)%
Adjusted EBIT	68.6	70.3	(1.7)	(2.4)%

Adjusted EBIT represents EBIT, adjusted for exceptional non-recurring items (e.g., restructuring, or one-time advisory costs) and depreciation / amortization of fair value adjustments from purchase price allocations (PPAs).

Adjusted EBIT is presented because we believe it helps understanding our operating performance.

The PPA adjustments for depreciation and amortization in the first half of fiscal year 2022 amounted to €6.9 million (PY: €7.0 million). Of that amount, €2.3 million (PY: €2.3 million) stem from the April 2010 PPA and €4.2 million (PY: €4.1 million) result from the June 2016 PPA.

Furthermore, €0.4 million (PY: €0.5 million) relate to the acquisitions in fiscal year 2019 and decreased due to the full amortization of other intangible assets from the acquisition of General Aerospace GmbH in a year-on-year comparison.

DEVELOPMENT OF OPERATING SEGMENTS

The Stabilus Group is organized and managed primarily on a regional level. The three reportable operating segments of the Group are EMEA (Europe, Middle East and Africa), Americas (North and South America) and APAC (Asia Pacific).

The tables below set out the development of our operating segments for the second quarter and the first half of fiscal year 2022 in comparison to the second quarter and the first half of fiscal year 2021:

Operating segments T _ 006

		Three months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
EMEA
External revenue1)	124.9	127.3	(2.4)	(1.9)%
Intersegment revenue1)	8.7	9.1	(0.4)	(4.4)%
Total revenue1)	133.6	136.4	(2.8)	(2.1)%
Adjusted EBIT	14.8	19.5	(4.7)	(24.1)%
as % of total revenue	11.1%	14.3%
as % of external revenue	11.8%	15.3%
Americas
External revenue1)	95.2	84.4	10.8	12.8%
Intersegment revenue1)	8.0	6.5	1.5	23.1%
Total revenue1)	103.2	90.9	12.3	13.5%
Adjusted EBIT	13.6	13.6	0.0	0.0%
as % of total revenue	13.2%	15.0%
as % of external revenue	14.3%	16.1%
APAC
External revenue1)	61.0	32.3	28.7	88.9%
Intersegment revenue1)	–	–	–	–
Total revenue1)	61.0	32.3	28.7	88.9%
Adjusted EBIT	10.8	4.8	6.0	125.0%
as % of total revenue	17.7%	14.9%
as % of external revenue	17.7%	14.9%

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

Operating segments T _ 007

IN € MILLIONS		Six months ended March 31,
	2022	2021	Change	% change
EMEA
External revenue1)	230.4	240.9	(10.5)	(4.4)%
Intersegment revenue1)	17.1	16.2	0.9	5.6%
Total revenue1)	247.5	257.1	(9.6)	(3.7)%
Adjusted EBIT	25.7	34.3	(8.6)	(25.1)%
as % of total revenue	10.4%	13.3%
as % of external revenue	11.2%	14.2%
Americas
External revenue1)	172.5	168.8	3.7	2.2%
Intersegment revenue1)	15.2	12.1	3.1	25.6%
Total revenue1)	187.7	180.9	6.8	3.8%
Adjusted EBIT	19.2	24.6	(5.4)	(22.0)%
as % of total revenue	10.2%	13.6%
as % of external revenue	11.1%	14.6%
APAC
External revenue1)	122.1	69.7	52.4	75.2%
Intersegment revenue1)	0.0	0.1	(0.1)	(100.0)%
Total revenue1)	122.1	69.8	52.3	74.9%
Adjusted EBIT	23.8	11.3	12.5	110.6%
as % of total revenue	19.5%	16.2%
as % of external revenue	19.5%	16.2%

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

The external revenue generated by our companies located in the EMEA region decreased from €240.9 million in the first half of fiscal year 2021 by (4.4)% or €(10.5) million to €230.4 million in the first half of fiscal year 2022. The negative currency translation effect amounted to €(2.5) million resulting in an organic growth rate of (3.4)%. The decline is especially driven by the Automotive Gas Spring business which decreased from €67.6 million by (15.8)% or €(10.7) million to €56.9 million. The organic growth of the Automotive Gas Spring business was (15.8)%. Further, the decrease was also driven by the reduced Automotive Powerise® business, which decreased from €51.6 million by (11.4)% or €(5.9) million to €45.7 million. The organic growth rate of the Automotive Powerise® was (10.1)%. The Automotive business is further affected by the impacts of the COVID-19 pandemic and the accompanying effects and since the end of February 2022 additionally burdened by the war from Russia against the Ukraine. The shortages of electronic components (semiconductors) and the reduced availability of important manufacturing components (e.g., wiring systems) for the vehicle production influenced our customers business and reduced the light-vehicle output across the EU. Consequences of these impacts led to temporarily plant closure of several OEMs, layers reduction and short-time work. However, our business benefits from the EU-wide subsidy programs for electromobility and the market share of new registrations for electric vehicles growing continuously. In contrast to our Automotive Gas Spring and Automotive Powerise® business the industrial market increased and partly offset the decline. The Industrial business increased from €121.7 million by 4.9% or €6.0 million to €127.7 million. Organically the growth rate of the Industrial business was 6.4%. This reflects our broad product portfolio with growth in all our market subsegments except for healthcare, recreation & furniture which declined compared to prior year. Especially in the subsegments distributors, independent aftermarket, e-commerce and industrial machinery & automation we grew strongly and further expanded our market share. Whereas, the subsegment healthcare, recreation & furniture was affected from double-digit decreases. The effects of the strong price increases in the procurement market, i.e., steel, resin, and plastic as well as the rising freight and energy costs reduced the adjusted EBIT margin in EMEA. Consequently, the adjusted EBIT of the EMEA segment decreased by (25.1)% or €(8.6) million, and the adjusted EBIT margin, i.e., adjusted EBIT as a percent of external revenue, decreased in the first half of fiscal year 2022 to 11.2% (PY: 14.2%).

The external revenue of our companies located in the Americas increased from €168.8 million in the first half of fiscal year 2021 by 2.2% or €3.7 million to €172.5 million in the first half of fiscal year 2022. The positive currency translation effect amounted to €8.5 million resulting in an organic growth rate of (2.8)% and especially stems from the relatively stronger Mexican peso and US dollar in a year-on-year comparison. The decline was mainly driven by the Automotive Powerise® business which decreased from €68.1 million by (4.4)% or €(3.0) million to €65.1 million and organically by (8.9)%. The Automotive Powerise® business was also negatively impacted by the shift of Powerise production of an OEM from Americas to APAC. The Automotive Gas Spring business increased slightly from €48.9 million by 0.2% or €0.1 million to €49.0 million. The organic growth rate was (5.0)%. The US light-vehicle sales decreased in the first half year of our fiscal year 2022 with double-digit declines in a year-on-year comparison and influenced the Automotive industry strongly, due to the uncertainties in the global supply chain and from the shortages of electronic components (semiconductors) as well as the strong inflation in the US over the last couple of months. The current market expectation shows that the lack of the electronic components (semiconductors) will stabilized in the second half of calendar year 2022. The Automotive market is also influenced from the war from Russia against the Ukraine, through the reduced availability of imported manufacturing components for car production. The Industrial business increased from €51.8 million by 12.7% or €6.6 million to €58.4 million, while it organically grew by 7.1%. The industrial market is further on course for recovery against the backdrop of the COVID-19 pandemic in the prior year. Stabilus benefits from the diversification of the product portfolio and growth in nearly all subsegments e.g., growth in the subsegment distributors, independent aftermarket, e-commerce and in the commercial vehicles subsegment. Whereas the subsegment energy & construction showed a small decline. Also, our region Americas was burdened of the strong material price inflation and from increasing energy costs and therefore, the adjusted EBIT of the Americas segment decreased by (22.0)% or €(5.4) million, and the adjusted EBIT margin reduced in the first half of fiscal year 2022 to 11.1% (PY: 14.6%).

The external revenue of our companies located in APAC increased from €69.7 million in the first half of fiscal year 2021 by 75.2% or €52.4 million to €122.1 million in the first half of fiscal year 2022. The positive currency translation effect amounted to €8.2 million resulting in an organic growth rate of 63.5% and occurred primarily from the stronger Chinese renminbi in a year-on-year comparison. The significant revenue increase in the APAC region was especially driven by the Automotive Powerise® business, which grew from €18.2 million by 217.0% or €39.5 million to €57.7 million. Organically the growth rate was 194.7%. The Automotive Gas Spring business grew from €42.5 million by 23.8% or €10.1 million to €52.6 million, while the organic growth rate was 15.8%. Whereas the Chinese lightvehicle market increased by 2.5% (according to CAAM) in a year-on-year comparison (October 1, 2021, to March 31, 2022). The Stabilus market share strongly increased due the wins of new OEM platforms, which led to higher take-up rates of our Automotive Powerise® product range as well as of our Automotive Gas Spring products. Nevertheless, there are still market uncertainties due to the overall shortages of electronic components (semiconductors) as well as an uncertain market development from the requirements of the zero COVID-19 strategy in China, e.g., temporary closure of plants and seaports. The APAC Industrial business increased from €9.0 million by 31.1% or €2.8 million to €11.8 million. The organic growth rate was 23.2%. Our industrial market recorded growth rates across all our market subsegments, especially in the subsegments distributors, independent aftermarket, e-commerce and industrial machinery & automation. The adjusted EBIT of the APAC segment increased by 110.6% or €12.5 million, and the adjusted EBIT margin increased in the first half of fiscal year 2022 to 19.5% (PY: 16.2%).

FINANCIAL POSITION

Balance sheet	T _ 008

IN € MILLIONS	March 31, 2022	Sept 30, 2021	Change	% change
Assets
Non-current assets	689.6	669.7	19.9	3.0%
Current assets	567.4	496.9	70.5	14.2%
Total assets	1,257.0	1,166.6	90.4	7.7%
Equity and liabilities
Total equity	575.5	544.3	31.2	5.7%
Non-current liabilities	476.9	428.8	48.1	11.2%
Current liabilities	204.6	193.5	11.1	5.7%
Total liabilities	681.5	622.3	59.2	9.5%
Total equity and liabilities	1,257.0	1,166.6	90.4	7.7%

Total assets

The Group's balance sheet total increased from €1,166.6 million as of September 30, 2021, by 7.7% or €90.4 million to €1,257.0 million as of March 31, 2022.

Non-current assets

Our non-current assets increased from €669.7 million as of September 30, 2021, by 3.0% or €19.9 million to €689.6 million as of March 31, 2022. This increase is especially due to an equity-accounted investment (Cultraro Automazione Engineering S.r.l. +€17.2 million) and other investments (Synapticon GmbH +€6.0 million). This increase was partly offset by the ongoing amortization of €(14.8) million on other intangible assets mainly from purchase price allocations and by the ongoing depreciation of €(14.5) million on property, plant and equipment. In addition, the Group invested €7.2 million in intangible assets and €13.5 million in fixed assets for ongoing capacity expansion projects (including right-of-use assets). Furthermore, non-current assets were influenced by foreign exchange rate-related carrying value adjustments, e.g., an increase in goodwill of €1.1 million.

Current assets

Current assets increased from €496.9 million as of September 30, 2021, by 14.2% or €70.5 million to €567.4 million as of March 31, 2022. This was especially driven by increased trade and other receivables (+€31.9 million) due to increased business volume and by increased inventories amounting to €18.1 million. Inventory was increased to secure our global supply chain and from higher material prices for raw material and supplies. This increase was further due to the increased cash balance (+€10.6 million), attributable to the cash inflow from the promissory note loan amounting to €55.0 million in January 2022, which was partly offset from the dividend payment amounting to €(30.9) million paid out in February 2022 and by a voluntary prepayment of the term-loan facility amounting to €(2.6) million in January 2022. In addition, other assets increased (+€7.5 million) mainly due to deferred charges from payments for annual service costs and from increased current tax assets (+€2.4 million).

Equity

The Group's equity increased from €544.3 million as of September 30, 2021, by €31.2 million to €575.5 million as of March 31, 2022. This

increased by €0.9 million.

Current liabilities Current liabilities increased from €193.5 million as of September 30, 2021, by €11.1 million or 5.7% to €204.6 million as of March 31, 2022. The increase especially relates to increased trade accounts payable amounting to €11.7 million. This increase was partly offset by decreased provisions of €(2.0) million, personnel-related expenses reduced by €2.4 million through the yearly bonus payments to employees and warranties increased by €(2.3) million due to the increased business volume in the first half of fiscal year 2022. Furthermore, other liabilities

Non-current liabilities Non-current liabilities increased from €428.8 million as of September 30, 2021, by 11.2% or €48.1 million to €476.9 million as of March 31, 2022. This relates especially to the increase of the financial liabilities due to the issue of the Group´s second promissory note loan amounting to €55.0 million in January 2022, partly offset by a voluntary prepayment of the term-loan facility amounting to €(2.6) million and by €1.7 million

from the amortization of debt issuance costs and the amortization of the adjustment of the carrying value using the effective interest rate method. This increase was compensated by decreased other financial liabilities mainly due to the ongoing repayments of lease liabilities amounting to €(4.1) million, which was partially offset from new leasing contracts amounting to €1.6 million. In addition, our pension liabilities decreased by €(5.2) million as a consequence of the increased discount rate (March 31, 2022: 1.85% versus September 30, 2021: 1.31%).

increase results from the profit of €44.2 million and from the other

• FINANCIAL POSITION • LIQUIDITY

comprehensive income, which increased by €18.1 million. This comprises unrealized actuarial gains from foreign currency translation amounting to €14.7 million and by actuarial gains on pensions (net of tax) amounting to €3.4 million. This increase was partly offset by the dividend payment to our shareholders amounting to €(30.9) million in the second quarter of fiscal year 2022 and a dividend payment amounting to €(0.2) million paid to non-controlling shareholders.

A INTERIM GROUP MANAGEMENT REPORT B CONDENSED INTERIM CONSOLIDATED

LIQUIDITY

Cash flows T _ 009

FINANCIAL STATEMENTS (UNAUDITED)

	Six months ended March 31,
IN € MILLIONS	2022	2021	Change	% change
Cash flow from operating activities	36.0	69.9	(33.9)	(48.5)%
Cash flow from investing activities	(41.6)	(19.2)	(22.4)	>100.0%
Cash flow from financing activities	13.8	0.7	13.1	>100.0%
Net increase / (decrease) in cash	8.1	51.3	(43.2)	(84.2)%
Effect of movements in exchange rates on cash held	2.5	1.4	1.1	78.6%
Cash as of beginning of the period	193.2	162.4	30.8	19.0%
Cash as of end of the period	203.8	215.2	(11.4)	(5.3)%

Cash flow from operating activities

Cash flow from operating activities decreased from €69.9 million in the first half of fiscal year 2021 by (48.5)% or €(33.9) million to €36.0 million in the first half of fiscal year 2022. The decrease resulted from higher income tax payments of €(5.3) million. Prior year includes a tax reimbursement of €3.0 million from the US restructuring in fiscal year 2018. In addition, the decrease is due to the negative effects from higher net working capital in a year-on-year comparison.

Cash flow from investing activities

Cash outflow for investing activities increased from €(19.2) million in the first half of fiscal year 2021 by €(22.4) million to €(41.6) million in the first half of fiscal year 2022. This increase is especially due to an equity-accounted investment (Cultraro Automazione Engineering S.r.l. €17.2 million) and other investments (Synapticon GmbH €6.0 million). Capital expenditures in intangible assets decreased by €(0.5) million and in property, plant and equipment decreased by €(0.7) million in a year-on-year comparison.

Cash flow from financing activities

Cash flow from financing activities increased from €0.7 million in the first half of fiscal year 2021 by €13.1 million to €13.8 million in the first half of fiscal year 2022. This was mainly attributable to the cash inflow of the promissory note loan of €55.0 million (PY: €95.0 million) offset by the voluntary repayment of the term-loan facility amounting to €(2.6) million (PY: €(47.4) million). Furthermore, the increase was partly offset by higher dividends of €(30.9) million (PY: €(12.4) million) paid to our shareholders in February 2022.

Free cash flow (FCF)

Free cash flow (FCF) is defined as the total of cash flow from operating and investing activities. The Group considers FCF as an essential alternative performance measure as it aids in the evaluation of the Group´s ability to generate cash which can be used, among others, for further investments. The following table sets out the composition of FCF:

Free cash flow T _ 010

IN € MILLIONS		Six months ended March 31,
	2022	2021	Change	% change
Cash flow from operating activities	36.0	69.9	(33.9)	(48.5)%
Cash flow from investing activities	(41.6)	(19.2)	(22.4)	>100.0%
Free cash flow	(5.6)	50.7	(56.3)	<(100.0)%

Adjusted free cash flow

Adjusted free cash flow is defined as the total of cash flow from operating and investing activities before acquisitions. The adjusted free cash flow decreased from €50.7 million in the first half of fiscal year 2021 to €17.6 million in the first half of fiscal year 2022 mainly driven by the investment for an equity-accounted investment (Cultraro Automazione Engineering S.r.l. €17.2 million) and other investments (Synapticon GmbH €6.0 million).

Adjusted free cash flow T _ 011

IN € MILLIONS	Six months ended March 31,
	2022	2021	Change	% change
Cash flow from operating activities	36.0	69.9	(33.9)	(48.5)%
Cash flow from investing activities before acquisitions	(41.6)	(19.2)	(22.4)	>100.0%
Free cash flow	(5.6)	50.7	(56.3)	<(100.0)%
Acquisition of equity-accounted and other investments	23.2	–	23.2	n/a
Adjusted FCF	17.6	50.7	(33.1)	(65.3)%

Net leverage ratio

The net leverage ratio is defined as net financial debt divided by adjusted EBITDA for the last twelve months (adjusted EBITDA LTM).

Net financial debt is the nominal amount of financial debt, i.e., current, and non-current financial liabilities, less cash and cash equivalents. Adjusted EBITDA is defined as adjusted EBIT before depreciation / amortization and before exceptional non-recurring items (e.g., restructuring, or one-time advisory costs).

The net leverage ratio is presented because we believe it is a useful indicator to evaluate the Group's debt leverage and financing structure.

The net leverage ratio improved from 0.9x for the twelve months ending March 31, 2021, to 0.8x for the twelve months ending March 31, 2022 (September 30, 2021, at 0.6x). Further details are set out in the following table:

Net leverage ratio T _ 012

IN € MILLIONS	March 31, 2022	March 31, 2021	Change	% change
Financial debt	351.9	354.1	(2.2)	(0.6)%
Cash and cash equivalents	(203.8)	(215.2)	11.4	(5.3)%
Net financial debt	148.1	138.9	9.2	6.6%
Adjusted EBITDA (LTM ended March 31)	185.5	156.9	28.6	18.2%
Net leverage ratio1)	0.8x	0.9x

1) The net leverage ratio is defined as net financial debt divided by adjusted EBITDA for the last twelve months.

Financial debt T_013

	Adjusted EBITDA (LTM ended March 31)	T _ 014
--	--------------------------------------	---------

IN € MILLIONS		March 31, 2022 March 31, 2021
Financial liabilities (non-current)	346.7	338.0
Financial liabilities (current)	1.5	7.6
Adjustment carrying value	3.7	8.5
Financial debt	351.9	354.1

IN € MILLIONS	March 31, 2022	March 31, 2021	Change	% change
Profit from operating activities (EBIT)	119.7	67.5	52.2	77.3%
Depreciation	37.2	35.7	1.5	4.2%
Amortization	14.8	15.5	(0.7)	(4.5)%
PPA adjustments – depreciation and amortization	13.8	15.5	(1.7)	(11.0)%
PPA adjustments – impairment on intangible assets	–	25.7	(25.7)	(100.0)%
EBITDA	185.5	159.9	25.6	16.0%
Purchase price adjustment	–	(3.0)	3.0	(100.0)%
Adjusted EBITDA	185.5	156.9	28.6	18.2%

• RISKS AND OPPORTUNITIES • SUBSEQUENT EVENTS • OUTLOOK

RISKS AND OPPORTUNITIES SUBSEQUENT EVENTS

The COVID-19 pandemic is still affecting the macroeconomic environment and the global economy is characterized by the consequential uncertainties, which bear various risks for Stabilus. Some months ago, the geopolitical situation has worsened to an extent that was completely unimaginable. We are constantly monitoring how the war from Russia against the Ukraine may affect our economic situation. The Group expanded its global multidisciplinary crisis management team, which was initiated at the beginning of the COVID-19 pandemic and was continued over the last two years. Part of our work will be to cope with the effects of both, COVID-19 pandemic and the war from Russia against the Ukraine, on our organization in terms of customer communication, IT security and risk management, and further to monitor and analyze the situation on a weekly basis on a local and a global level as well as taking actions to address and mitigate identified risks. The Stabilus business volume within the region, especially with Russia and the Ukraine has only a minor impact on the Group´s operating performance. Whereas the sanctions and the reduced availability of important manufacturing components (e.g., wiring systems) for the vehicle production influenced our customers business (e.g., temporarily plant closure of several OEMs, layers reduction and short-time work). In addition, Stabilus emphasizes a very strict monitoring of cost, liquidity as well as impairment risks. All employees are well informed about safety measures in business and private life and the further use of home offices reduces the risk of the virus spreading further.

We also refer to the Group Management Report and the audited consolidated financial statements as of and for the fiscal year ended September 30, 2021, for the general risk-related disclosures.

Within the extraordinary general meeting on March 24, 2022, and with effect from April 5, 2022, it was resolved to increase the nominal value per share from €0.01 to €1.00 and consequently to increase the share capital from €247 thousand to €24.7 million. The increase of issued capital was made from own funds from the capital reserves of the Company. The Company´s Articles of Association were updated in accordance with the resolution.

As of April 29, 2022, there were no further events or developments that could have materially affected the measurement and presentation of the Group's assets and liabilities as of March 31, 2022.

OUTLOOK

Our guidance from November 2021 for fiscal year 2022 remains unchanged, i.e., revenue of €940 million to €990 million and an adjusted EBIT margin in the range of 14% and 15%. The revenue range reflects the uncertainty related to the production output of our customers, the COVID-19 pandemic, the global supply chain shortages (e.g., semiconductors) and the material price inflation. Furthermore, the geopolitical situation has worsened due to the war from Russia against the Ukraine since the end of February 2022, which additionally burdens the economic especially in Europe.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

as of and for the three and six months ended March 31, 2022

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the three and six months ended March 31, 2022 (unaudited)

Consolidated statement of comprehensive income T_015

		Three months ended March 31,			Six months ended March 31,
IN € THOUSANDS	Note	2022	2021	2022	2021
Revenue	2	281,202	243,965	524,910	479,407
Cost of sales		(201,566)	(169,274)	(379,616)	(334,627)
Gross profit		79,636	74,691	145,294	144,780
Research and development expenses		(12,799)	(10,456)	(24,728)	(20,914)
Selling expenses		(20,966)	(20,654)	(41,169)	(41,143)
Administrative expenses		(10,238)	(10,935)	(20,167)	(20,955)
Other income		268	2,781	2,536	3,135
Other expenses		(86)	(224)	(58)	(1,575)
Income / (expense) from equity-accounted investments	8	(43)	–	(43)	–
Profit from operating activities		35,772	35,203	61,665	63,328
Finance income	3	2,174	5,145	3,599	407
Finance costs	4	(2,402)	(4,164)	(4,566)	(7,531)
Profit / (loss) before income tax		35,544	36,184	60,698	56,204
Income tax income / (expense)		(9,348)	(10,239)	(16,531)	(15,939)
Profit / (loss) for the period		26,196	25,945	44,167	40,265
thereof attributable to non-controlling interests		281	(40)	642	(32)
thereof attributable to shareholders of Stabilus		25,915	25,985	43,525	40,297
Other comprehensive income / (expense)
Foreign currency translation difference1)	12	8,722	7,796	14,744	8,899
Unrealized actuarial gains and losses2)	12	4,706	1,968	3,356	824
Other comprehensive income / (expense), net of taxes		13,428	9,764	18,100	9,723
Total comprehensive income / (expense) for the period		39,624	35,709	62,267	49,988
thereof attributable to non-controlling interests		76	(2,350)	(212)	(2,342)
thereof attributable to shareholders of Stabilus		39,548	38,059	62,479	52,330
number of shares (weighted)		24,700,000	24,700,000	24,700,000	24,700,000
Earnings per share (in €):
basic	5	1.05	1.05	1.76	1.63
diluted	5	1.05	1.05	1.76	1.63

1) Item that may be reclassified ('recycled') to profit and loss at a future point in time when specific conditions are met.

2) Item that will not be reclassified to profit and loss.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as of March 31, 2022 (unaudited)

Consolidated statement of financial position T _ 016

IN € THOUSANDS	Note	March 31, 2022	Sept 30, 2021
Assets
Property, plant and equipment	6	224,873	223,150
Goodwill		209,186	208,067
Other intangible assets	7	216,485	222,622
Equity-accounted and other investments	8	23,132	–
Other assets	10	648	1,182
Deferred tax assets		15,315	14,700
Total non-current assets		689,639	669,721
Inventories	11	154,945	136,890
Trade accounts receivable		168,582	136,686
Current tax assets		10,395	7,965
Other financial assets	9	603	601
Other assets	10	29,048	21,577
Cash and cash equivalents		203,815	193,189
Total current assets		567,388	496,908
Total assets		1,257,027	1,166,629

IN € THOUSANDS	Note	March 31, 2022	Sept 30, 2021
Equity and liabilities
Issued capital		247	247
Capital reserves		225,848	225,848
Retained earnings		361,396	348,746
Other reserves	12	(16,637)	(35,591)
Equity attributable to shareholders of Stabilus		570,854	539,250
Non-controlling interests		4,690	5,087
Total equity		575,544	544,337
Financial liabilities	13	346,734	293,394
Other financial liabilities	14	27,998	29,795
Provisions	16	2,951	3,218
Pension plans and similar obligations	17	49,452	54,689
Deferred tax liabilities		49,714	47,704
Total non-current liabilities		476,849	428,800
Trade accounts payable		102,088	90,364
Financial liabilities	13	1,468	1,461
Other financial liabilities	14	19,494	18,972
Current tax liabilities		11,824	11,884
Provisions	16	47,308	49,265
Other liabilities	18	22,452	21,546
Total current liabilities		204,634	193,492
Total liabilities		681,483	622,292
Total equity and liabilities		1,257,027	1,166,629

Consolidated statement of financial position T _ 016

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the six months ended March 31, 2022 (unaudited)

Consolidated statement of changes in equity T _ 017

IN € THOUSANDS	Note	Issued capital	Capital reserves	Retained earnings	Other reserves	Equity attributable to shareholders of Stabilus	Non controlling interests	Total equity
Balance as of Sept 30, 2020		247	225,848	287,702	(52,120)	461,677	7,921	469,598
Profit / (loss) for the period		–	–	40,297	–	40,297	(32)	40,265
Other comprehensive income / (expense)	12	–	–	–	12,033	12,033	(2,310)	9,723
Total comprehensive income for the period		–	–	40,297	12,033	52,330	(2,342)	49,988
Dividends		–	–	(12,350)	–	(12,350)	(640)	(12,990)
Balance as of March 31, 2021		247	225,848	315,649	(40,087)	501,657	4,939	506,596
Balance as of Sept 30, 2021		247	225,848	348,746	(35,591)	539,250	5,087	544,337
Profit / (loss) for the period		–	–	43,525	–	43,525	642	44,167
Other comprehensive income / (expense)	12	–	–	–	18,954	18,954	(854)	18,100
Total comprehensive income for the period		–	–	43,525	18,954	62,479	(212)	62,267
Dividends		–	–	(30,875)	–	(30,875)	(185)	(31,060)
Balance as of March 31, 2022		247	225,848	361,396	(16,637)	570,854	4,690	575,544

CONSOLIDATED STATEMENT OF CASH FLOWS

for the six months ended March 31, 2022 (unaudited)

Consolidated statement of cash flows T _ 018			Consolidated statement of cash flows
		Six months ended March 31,				Six months ended March 31,
IN € THOUSANDS	Note	2022	2021	IN € THOUSANDS	Note	2022	2021
Profit / (loss) for the period		44,167	40,265	Proceeds from disposal of property, plant and equipment		217	650
Income tax expense		16,531	15,939	Purchase of intangible assets	7	(7,245)	(7,726)
Net finance result	3 / 4	966	7,126	Purchase of property, plant and equipment	6	(11,434)	(12,118)
Interest received	3 / 4	229	86	Acquisition of equity-accounted and other investments	8	(23,175)	–
Net result from equity-accounted investments	8	43	–	Cash flow from investing activities		(41,637)	(19,194)
Depreciation and amortization (incl. impairment losses)		33,407	31,394	Receipts from financial liabilities		55,000	95,000
Gains / losses from the disposal of assets		(67)	(180)	Payments for redemption of financial liabilities		(825)	(27,569)
Changes in inventories		(18,055)	(18,734)	Payments for redemption of senior facilities		(2,643)	(47,358)
Changes in trade accounts receivable		(31,896)	(12,369)	Payments for lease liabilities		(4,073)	(4,051)
Changes in trade accounts payable		11,724	11,767	Dividends paid		(30,875)	(12,350)
Changes in other assets and liabilities		(26)	(2,548)	Dividends paid to non-controlling interests		(185)	(640)
Changes in provisions		(2,643)	10,221	Payments for interest	21	(2,578)	(2,377)
Income tax payments	21	(18,424)	(13,109)	Cash flow from financing activities		13,821	655
Cash flow from operating activities		35,956	69,858	Net increase / (decrease) in cash and cash equivalents		8,140	51,319

			Six months ended March 31,
IN € THOUSANDS	Note	2022	2021
Proceeds from disposal of property, plant and equipment		217	650
Purchase of intangible assets	7	(7,245)	(7,726)
Purchase of property, plant and equipment	6	(11,434)	(12,118)
Acquisition of equity-accounted and other investments	8	(23,175)	–
Cash flow from investing activities		(41,637)	(19,194)
Receipts from financial liabilities		55,000	95,000
Payments for redemption of financial liabilities		(825)	(27,569)
Payments for redemption of senior facilities		(2,643)	(47,358)
Payments for lease liabilities		(4,073)	(4,051)
Dividends paid		(30,875)	(12,350)
Dividends paid to non-controlling interests		(185)	(640)
Payments for interest	21	(2,578)	(2,377)
Cash flow from financing activities		13,821	655
Net increase / (decrease) in cash and cash equivalents		8,140	51,319
Effect of movements in exchange rates on cash held		2,486	1,430
Cash and cash equivalents as of beginning of the period		193,189	162,431
Cash and cash equivalents as of end of the period		203,815	215,180

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

as of and for the three and six months ended March 31, 2022

1 General information

Basis for preparation

The accompanying condensed interim consolidated financial statements as of March 31, 2022, present the operations of the Company and its subsidiaries. They have been prepared in accordance with IAS 34 "Interim Financial Reporting" and comply with the International Financial Reporting Standards (IFRS) as adopted by the European Union. Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the financial position and performance of the Stabilus Group since the last annual consolidated financial statements as of and for the fiscal year ended September 30, 2021. As the interim consolidated financial statements are presented in considerably less detail than complete financial statements, they should be read in conjunction with the Company's consolidated financial statements as of September 30, 2021.

The interim consolidated financial statements and the interim group management report have not been audited or reviewed by our group auditor.

The accounting policies adopted in the preparation of the condensed interim consolidated financial statements are consistent with those followed in the preparation of the Group's annual financial statements for the fiscal year ended September 30, 2021. The assumptions made for the preparation of the interim consolidated financial statements are based on management's best estimates as of the reporting date. In interim periods, income tax expense is based on management's best estimate of the weighted average effective annual income tax rate that is expected for the full fiscal year. Further information regarding the effects resulting from possible changes in such estimates can be found in the respective parts of the notes if considered material.

Presentation

These condensed interim consolidated financial statements as of and for the three and six months ended March 31, 2022, comprise the consolidated statement of comprehensive income for the three and six months ended March 31, 2022, the consolidated statement of financial position as of March 31, 2022, the consolidated statement of changes in equity for the six months ended March 31, 2022, the consolidated statement of cash flows for the six months ended March 31, 2022, and explanatory notes to the condensed interim consolidated financial statements.

The condensed interim consolidated financial statements are prepared in euros (€) rounded to the nearest thousand. Due to rounding, numbers presented may not add up precisely to the totals provided. Negative amounts are bracketed.

The condensed interim consolidated financial statements were authorized for issue by the Management Board on April 29, 2022.

2 Revenue

The Group's revenue developed as follows:

Revenue by region and business unit	T _ 019
-------------------------------------	---------

	Three months ended March 31,		Six months ended March 31,
IN € THOUSANDS	2022	2021	2022	2021
EMEA
Automotive Gas Spring	30,968	34,140	56,925	67,642
Automotive Powerise®	23,893	24,848	45,748	51,552
Industrial	70,072	68,335	127,681	121,730
Total EMEA1)	124,933	127,323	230,354	240,924
Americas
Automotive Gas Spring	25,910	23,700	48,952	48,909
Automotive Powerise®	37,654	32,798	65,057	68,056
Industrial	31,682	27,862	58,448	51,796
Total Americas1)	95,246	84,360	172,457	168,761
APAC
Automotive Gas Spring	25,132	19,741	52,598	42,494
Automotive Powerise®	30,241	7,584	57,677	18,219
Industrial	5,650	4,957	11,824	9,009
Total APAC1)	61,023	32,282	122,099	69,722
Stabilus Group
Total Automotive Gas Spring	82,010	77,581	158,475	159,045
Total Automotive Powerise®	91,788	65,230	168,482	137,827
Total Industrial	107,404	101,154	197,953	182,535
Revenue1)	281,202	243,965	524,910	479,407

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

A INTERIM GROUP MANAGEMENT REPORT B CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) • FINANCE INCOME • FINANCE COSTS • EARNINGS PER SHARE • PROPERTY, PLANT AND EQUIPMENT

3 Finance income

Finance income T_020

		Three months ended March 31,	Six months ended March 31,
IN € THOUSANDS	2022	2021	2022	2021
Interest income on loans and financial receivables	94	87	218	170
Net foreign exchange gain	1,039	4,824	2,334	–
Other interest income	1,041	234	1,047	237
Finance income	2,174	5,145	3,599	407

4 Finance costs

Finance costs T_021

	Three months ended March 31,		Six months ended March 31,
IN € THOUSANDS	2022	2021	2022	2021
Interest expenses on financial liabilities	(2,020)	(3,629)	(3,807)	(5,727)
Net foreign exchange loss	–	–	–	(852)
Interest expenses lease liabilities	(309)	(322)	(624)	(665)
Other interest expenses	(73)	(213)	(135)	(287)
Finance costs	(2,402)	(4,164)	(4,566)	(7,531)

5 Earnings per share

The weighted average number of shares used for the calculation of earnings per share in the six months ended March 31, 2022, and 2021, is set out in the following table:

Weighted average number of shares T _ 022

DATE	Number of days	Transaction	Change	Total shares	Total shares (time-weighted)
October 1, 2020	181	–	–	24,700,000	24,700,000
March 31, 2021		–	–	24,700,000	24,700,000
October 1, 2021	181	–	–	24,700,000	24,700,000
March 31, 2022		–	–	24,700,000	24,700,000

The earnings per share for the six months ended March 31, 2022, and 2021, were as follows:

Earnings per share		T _ 023
Six months ended March 31,
IN € THOUSANDS	2022	2021
Profit / (loss) attributable to shareholders of Stabilus	43,525	40,297
Weighted average number of shares	24,700,000	24,700,000
Earnings per share (in €)	1.76	1.63

Basic and diluted earnings per share are calculated by dividing the profit attributable to the shareholders of the Company by the weighted average number of shares outstanding.

6 Property, plant and equipment

Property, plant and equipment - carrying amount		T _ 024
IN € THOUSANDS	March 31, 2022	Sept 30, 2021
Land, equivalent rights to real property	17,584	17,478
Building and land improvements	38,490	39,054
Technical equipment and machinery	93,444	95,909
Other tangible equipment	14,124	13,504
Construction in progress	27,911	22,195
RoU1) - Building and land improvements	27,615	29,254
RoU1) - Technical equipment and machinery	1,047	1,169
RoU1) - Other tangible equipment	4,658	4,587
Total	224,873	223,150

1) Right-of-use assets (RoU)

Property, plant and equipment as of March 31, 2022, amounted to €224,873 thousand (Sept 30, 2021: €223,150 thousand).

In the first six months of fiscal year 2022 the Group invested €11,994 thousand (H1 FY2021: €11,678 thousand) in property, plant and equipment and signed new leasing contracts amounting to €1,554 thousand (H1 FY2021: €1,189 thousand).

In the first six months of fiscal year 2022, total depreciation expense for tangible assets amounted to €(14,516) thousand (H1 FY2021: €(17,705) thousand), thereof €(4,073) thousand (H1 FY2021: €(4,051) thousand) from leasing (IFRS 16).

In the first half of fiscal year 2022 no government grants were received. In prior year the Group received for the dedicated Powerise® production building in Pinghu, China, grants amounting to €729 thousand.

Disposals occurred only in the ordinary course of business. The net value of disposed property, plant and equipment in the first six months of fiscal year 2022 amounted to €(56) thousand (H1 FY2021: €(470) thousand). The Group recognized impairment losses on property, plant and equipment in the first six months of fiscal year 2022 amounting to €(49) thousand (H1 FY2021: €(17) thousand).

Contractual commitments for the acquisition of property, plant and equipment amount to €6,382 thousand (Sept 30, 2021: €3,080 thousand).

Prepayments by the Stabilus Group for property, plant and equipment of €204 thousand (Sept 30, 2021: €762 thousand) are included in other non-current assets.

Other intangible assets - carrying amount T _ 025

IN € THOUSANDS	March 31, 2022	Sept 30, 2021
Development cost	37,933	40,119
Development cost under construction	20,639	20,538
Software	7,826	5,953
Patents	405	418
Customer relationships	133,277	138,168
Technology	11,148	11,509
Trade name	5,257	5,917
Total	216,485	222,622

C ADDITIONAL INFORMATION D INFORMATION RESOURCES

Other intangible assets as of March 31, 2022, amounted to €216,485 thousand (Sept 30, 2021: €222,622 thousand). Additions to intangible assets in the first six months of fiscal year 2022 amounted to €7,194 thousand (H1 FY2021: €7,638 thousand) and mainly comprised capitalized development costs (less related customer contributions) of €6,298 thousand (H1 FY2021: €7,400 thousand). Borrowing costs capitalized in the first six months of fiscal year 2022 amounted to €51 thousand (H1 FY2021: €88 thousand).

In the first six months of fiscal year 2022, total amortization expense on intangible assets amounted to €(14,816) thousand (H1 FY2021: €(13,689) thousand). Amortization expenses on development costs include impairment losses of €(182) thousand (H1 FY2021: €(537) thousand) due to withdrawal of customers from the respective projects and change in expected benefits.

No significant disposals have been recognized.

Contractual commitments for the acquisition of intangible assets amount to €861 thousand (Sept 30, 2021: €1,185 thousand).

7 Other intangible assets 8 Equity-accounted and other investments

Equity-accounted investments

Effective from November 25, 2021, the Stabilus Group entered into a partnership with Cultraro Automazione Engineering S.r.l. ("Cultraro") headquartered in Rivoli (near Turin), Italy, with further subsidiaries and participations in the USA, China, India, and Germany. Cultraro is a producer of linear and rotational damping solutions for the automotive and other industrial application markets. Cultraro has more than 400 employees operating in its development, production and testing facilities. The partnership focuses on expanding the product range in the field of motion control. For this strategic partnership, Stabilus acquired 32.0% of the shares by the way of a share deal from the company's founders. The finally agreed cash purchase price for 32.0% of the shares was €17.2 million (initial payment of €16.6 million and net working capital payment of €0.6 million after the closing process).

The results of the equity-accounted investment are recognized from the date of acquisition, i.e., from November 25, 2021. The following tables set out the financial information of Cultraro as included in its own financial statements, adjusted for fair value adjustments. Furthermore, the tables set out the summarized financial information of the carrying amount of the Group´s interest in Cultraro.

A INTERIM GROUP MANAGEMENT REPORT B CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) • EQUITY-ACCOUNTED AND OTHER INVESTMENTS • OTHER FINANCIAL ASSETS • OTHER ASSETS

Equity-accounted investments T _ 026

IN € THOUSANDS	March 31, 2022
Summary
Non-current assets	24,460
Current assets	9,259
Non-current liabilities	6,394
Current liabilities	2,877
Net assets of the associate (100%)	24,448
Revenue	3,610
Net profit from continuing operations	173
Total comprehensive income	173
Group´s share in total comprehensive income	55
Net assets of the associate (100%)	24,448
Equity interest of Stabilus	32.0%
Carrying amount of the investment in Cultraro	7,823
PPA adjustments	(97)
Group´s share in total comprehensive income	55
Goodwill	9,351
Carrying amount of the investment in Cultraro	17,132

Other investments

In October 2021, Stabilus invested into a partnership with the technology company Synapticon GmbH, located in Schönaich (near Stuttgart), Germany. The partnership enables Stabilus to expand its digital competence, which offers significant opportunities especially for its Powerise® product line. For this strategic partnership, Stabilus subscribed a minority stake of c. 12% of the shares in Synapticon via a capital increase. The agreed cash purchase price was €6.0 million. On December 13, 2021, a further financing round was initiated. Stabilus was not part of this financing round and therefore the minority stake reduced to c. 11%.

9 Other financial assets

Other financial assets T _ 027

	March 31, 2022			Sept 30, 2021
IN € THOUSANDS	Current	Non-current	Total	Current	Non-current	Total
Other miscellaneous	603	–	603	601	–	601
Other financial assets	603	–	603	601	–	601

Other miscellaneous financial assets as of March 31, 2022 comprise €538 thousand (Sept 30, 2021: €538 thousand) from the contingent consideration from the business combination with General Aerospace GmbH. Furthermore, an amount of €65 thousand (Sept 30, 2021: €64 thousand) is related to the security retention amount of the sale of trade accounts receivable from a factoring arrangement (€10.5 million (Sept 30, 2021: €9.7 million)). Stabilus considers that its other financial assets have a low credit risk based on the external credit ratings of the customers and impairments were insignificant.

10 Other assets

Other assets T _ 028

	March 31, 2022			Sept 30, 2021
IN € THOUSANDS	Current	Non-current	Total	Current	Non-current	Total
VAT	11,692	–	11,692	9,949	–	9,949
Prepayments	3,835	204	4,039	2,447	762	3,209
Deferred charges	11,245	–	11,245	7,653	–	7,653
Other miscellaneous	2,276	444	2,720	1,528	420	1,948
Other assets	29,048	648	29,696	21,577	1,182	22,759

Non-current prepayments comprise prepayments on property, plant and equipment.

Other reserves and other comprehensive income / (expense) T_030

11 Inventories

Inventories T _ 029 IN € THOUSANDS March 31, 2022 Sept 30, 2021 Raw materials and supplies 74,718 67,205 Finished products 32,091 31,536 Work in progress 23,817 20,841 Merchandise 24,319 17,308 Inventories 154,945 136,890

12 Equity

The development of the Group's equity is presented in the statement of changes in equity.

Other reserves

Other reserves comprise all foreign currency differences arising from the translation of the financial statements of foreign operations and unrealized actuarial gains and losses. The following table shows the changes in other reserves recognized in equity through other comprehensive income as well as the income tax recognized in equity through other comprehensive income:

IN € THOUSANDS	Unrealized actuarial gains and losses	Unrealized gains / (losses) from foreign currency translation	Total
Balance as of Sept 30, 2020	(15,507)	(36,613)	(52,120)
Before tax	1,340	15,604	16,944
Tax (expense) / benefit	(415)	–	(415)
Other comprehensive income / (expense), net of taxes	925	15,604	16,529
Non-controlling interest	–	(2,531)	(2,531)
Balance as of Sept 30, 2021	(14,582)	(23,540)	(38,122)
Before tax	4,818	15,598	20,416
Tax (expense) / benefit	(1,462)	–	(1,462)
Other comprehensive income / (expense), net of taxes	3,356	15,598	18,954
Non-controlling interest	–	(854)	(854)
Balance as of March 31, 2022	(11,226)	(8,796)	(20,022)

13 Financial liabilities

The financial liabilities comprise the following items:

Financial liabilities T _ 031

March 31, 2022			Sept 30, 2021
Current	Non-current	Total	Current	Non-current	Total
–	191,328	191,328	–	192,282	192,282
–	150,000	150,000	–	95,000	95,000
1,468	5,406	6,874	1,461	6,112	7,573
1,468	346,734	348,202	1,461	293,394	294,855

Stabilus repaid its senior facility in the amount of €50.0 million on August 31, 2016, €10.0 million on December 31, 2016, €2.5 million on March 31, 2017, €50.0 million on September 30, 2017, €6.4 million on March 28, 2018, €21.1 million on September 27, 2019, €20.0 million on February 27, 2020, €47.4 million on March 5, 2021, €50.0 million on August 30, 2021, and €2.6 million on January 31, 2022, and reduced the outstanding nominal amount to €195.0 million as of March 31, 2022. The carrying value of the Group´s liability under the senior facility agreement (the remaining €191.3 million term-loan) is measured at amortized cost under consideration of transaction costs and the

adjustment of the carrying value using the effective interest rate method. The adjustment of the carrying value of the term-loan facility reflects the change in estimated future cash flows discounted with the original effective interest rate due to a decreased margin based on the improved net leverage ratio of the Group.

As of March 31, 2022, the Group had no liability under the committed €70.0 million revolving credit facility. The Group utilized €0.9 million out of the €70.0 million revolving credit facility to secure existing guarantees. The committed credit line of €50.0 million is undrawn.

Stabilus issued a promissory note loan (Schuldscheindarlehen) on March 4, 2021, with a total volume of €95.0 million, via its subsidiary Stabilus GmbH and Stabilus SE (formerly Stabilus S. A.) acting as guarantor. The tranches of the promissory note loan with maturities of five and seven years bear variable interest rates.

On January 28, 2022, Stabilus issued its second promissory note loan (Schuldscheindarlehen) with a total volume of €55.0 million, via its subsidiary Stabilus GmbH and the Stabilus SE (formerly Stabilus S. A.) acting as guarantor. This promissory note loan has a maturity of five years with a variable interest rate.

Stabilus now has a total promissory note loan volume of €150.0 million. The details are described in the following table:

Overview tranches of promissory note loans T _ 032

IN € THOUSANDS
Tranche	Volume	Interest rate	Expiry date
5 years variable	83,000	6M-Euribor + 100bps	March 4, 2026
5 years variable	55,000	6M-Euribor + 80bps January 28, 2027
7 years variable	12,000	6M-Euribor + 125bps	March 4, 2028
Total	150,000

14 Other financial liabilities

Other financial liabilities T _ 033

		March 31, 2022			Sept 30, 2021
IN € THOUSANDS	Current	Non-current	Total	Current	Non-current	Total
Liabilities to employees	9,553	–	9,553	9,417	–	9,417
Social security contribution	2,304	–	2,304	2,352	–	2,352
Lease liabilities	7,637	27,998	35,635	7,203	29,795	36,998
Other financial liabilities	19,494	27,998	47,492	18,972	29,795	48,767

C ADDITIONAL INFORMATION D INFORMATION RESOURCES

The decrease is especially due to the payments of lease liabilities amounting to €(4.1) million offset by new leasing contracts of €1.6 million during the fiscal year 2022. The liabilities to employees mainly comprise outstanding salaries and wages.

15 Leases

The future minimum lease payments under non-cancellable leases are expected to amount to €39.4 million (Sept 30, 2021: €41.2 million) within the next years. Of this amount €8.7 million (Sept 30, 2021: €8.3 million) lease payments are payable within the next years.

The Stabilus Group expects interest expenses on lease liabilities in the amount of €1.1 million (Sept 30, 2021: €1.1 million) in the next fiscal year.

As of March 31, 2022, the total lease liabilities amounted to €35.6 million (Sept 30, 2021: €37.0 million). Of this amount €7.6 million are due within the next fiscal year.

Outflows for lease payments T_034

after one year but

IN € THOUSANDS	March 31, 2022	Sept 30, 2021
within one year	8,742	8,347
after one year but not more than five years	23,164	23,014
more than five years	7,521	9,820
Total	39,427	41,181

Interest expense on lease liabilities	T_035
IN € THOUSANDS	March 31, 2022	Sept 30, 2021
within one year	1,105	1,144
after one year but not more than five years	2,322	2,545
more than five years	365	494
Total	3,792	4,183
Maturity of lease liabilities		T_036
IN € THOUSANDS	March 31, 2022	Sept 30, 2021
within one year	7,637	7,203

not more than five years 20,842 20,469 more than five years 7,156 9,326 Total 35,635 36,998

16 Provisions

Provisions T _ 037

		March 31, 2022		Sept 30, 2021
IN € THOUSANDS	Current	Non-current	Total	Current	Non-current	Total
Anniversary benefits	13	147	160	14	146	160
Early retirement contracts	1,383	1,317	2,700	1,360	1,638	2,998
Employee-related costs	12,993	–	12,993	15,329	–	15,329
Environmental protection	117	1,086	1,203	268	1,041	1,309
Other risks	6,420	–	6,420	6,926	–	6,926
Legal and litigation costs	75	–	75	64	–	64
Warranties	21,233	–	21,233	18,932	–	18,932
Other miscellaneous	5,074	401	5,475	6,372	393	6,765
Provisions	47,308	2,951	50,259	49,265	3,218	52,483

The provision for environmental protection, in particular long-term bioremediation of the former Colmar US site, decreased in the first six months of fiscal year 2022 from €1,309 thousand to €1,203 thousand. This provision is to cover the contractor expense to finish the bioremediation program in the next years. Further information regarding this matter can be found in the Annual Report 2021.

The provision for warranties increased from €18,932 thousand as of September 30, 2021, to €21,233 thousand as of March 31, 2022, and is especially due to the increased sales volume and to cover general risks for warranty cases. The provision for employee-related costs comprises employee bonuses and termination benefits and decreased from €15,329 thousand as of September 30, 2021, to €12,993 thousand as of March 31, 2022.

17 Pension plans and similar obligations

The Group's liability for pension plans and similar obligations decreased from €54,689 thousand as of September 30, 2021, by €5,237 thousand to €49,452 thousand as of March 31, 2022. The discount rate was 1.85% on March 31, 2022, versus 1.31% on September 30, 2021.

18 Other liabilities

The following table sets out the breakdown of the Group's other current and non-current liabilities:

Other liabilities T _ 038

		March 31, 2022		Sept 30, 2021
IN € THOUSANDS	Current	Non-current	Total	Current	Non-current	Total
Advanced payments received	5,007	–	5,007	3,958	–	3,958
Vacation expenses	6,148	–	6,148	4,302	–	4,302
Other personnel-related expenses	4,827	–	4,827	7,521	–	7,521
Outstanding costs	6,030	–	6,030	5,431	–	5,431
Miscellaneous	440	–	440	334	–	334
Other liabilities	22,452	–	22,452	21,546	–	21,546

19 Contingent liabilities and other financial commitments

Contingent liabilities

Contingent liabilities are possible obligations from past events whose existence has yet to be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity. If the future outflow of resources for the settlement of a possible obligation is considered more likely than not, a provision is recognized on the face of the financial statements. Besides the possible obligations for which a provision has been recognized on the balance sheet no contingent liabilities could be identified as of the reporting date that were considered to be material in nature.

Guarantees

A detailed description of the guarantees the Group issued can be found in the Annual Report 2021.

Other financial commitments

Other financial commitments T _ 039

IN € THOUSANDS	March 31, 2022	Sept 30, 2021
Capital commitments for fixed assets	6,382	3,080
Capital commitments for other intangible assets	861	1,185
Capital commitments for investments	–	6,000
Total	7,243	10,265

The capital commitments for fixed and other intangible assets increased from €4,265 thousand as of September 30, 2021, to €7,243 thousand as of March 31, 2022. The commitment of a subscription obligation for investments amounting to €6,000 thousand was fully paid in the first half of the fiscal year 2022. Currently no other commitments for investments exist.

20 Financial instruments

The following table shows the carrying amounts and fair values of the Group's financial instruments within the meaning of IFRS 7 as well as by the measurement category. The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Financial instruments T _ 040

		March 31, 2022		Sept 30, 2021
IN € THOUSANDS	Measurement category acc. to IFRS 9	Carrying amount	Fair value1)	Carrying amount	Fair value1)
Other investments	AC	6,000	–	–	–
Trade accounts receivables	AC	168,582	–	136,686	–
Cash	AC	203,815	–	193,189	–
Other financial assets	AC	65	–	63	–
Contingent consideration	FVtPL	538	538	538	538
Total financial assets		379,000	538	330,476	538
Financial liabilities	FLAC	348,202	350,765	294,855	300,161
Trade accounts payable	FLAC	102,088	–	90,364	–
Lease liabilities	n/a	35,635	–	36,998	–
Total financial liabilities		485,925	350,765	422,217	300,161
Aggregated according to category:
Financial assets measured at amortized cost (AC)		378,462	–	329,938	–
Financial assets measured at fair value through profit or loss (FVtPL)		538	538	538	538
Financial liabilities measured at amortized cost (FLAC)		450,290	350,765	385,219	300,161

1) The simplification provision under IFRS 7.29a has been applied with respect to fair value disclosures. This does not apply to the contingent consideration.

The following table provides an overview of the classification of financial instruments presented above in the fair value hierarchy, except for financial instruments with fair values corresponding to the carrying amounts (i.e., trade accounts receivable and payable, cash and other financial liabilities). It is the Group's policy to recognize transfers into and out of a level of the fair value hierarchy at the date of the event or change in circumstances that caused the transfer. There were no transfers between Level 2 and Level 3 of the fair value hierarchy in the current and the prior reporting period.

Financial instruments								T _ 041
	March 31, 2022				Sept 30, 2021
IN € THOUSANDS	Total	Level 11)	Level 22)	Level 33)	Total	Level 11)	Level 22)	Level 33)
Financial liabilities
Senior facilities	194,451	–	194,451	–	197,865	–	197,865	–
Promissory note loans	149,410	–	149,410	–	94,500	–	94,500	–
Other facilities	6,904	–	6,904	–	7,796	–	7,796
Contingent consideration	538	–	538	–	538	–	538	–

1) Fair value measurement based on quoted prices (unadjusted) in active markets for these or identical instruments.

2) Fair value measurement based on inputs that are observable on active markets either directly (i.e. as prices) or indirectly (i.e. derived from prices).

• SEGMENT REPORTING

3) Fair value measurement based on inputs that are not observable market data.

The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following method and assumptions were used to estimate the fair values in the prior fiscal year:

– The senior secured notes and the promissory note loan are categorized within Level 2 of the fair value hierarchy as the instruments themselves are not traded in an active market, but as all significant inputs required for their fair value measurement are observable in active markets. Their fair value is estimated using a present value technique, by discounting the contractual cash flows using the implied yields for similar instruments of entities with a similar standing and marketability. The most significant input is the discount rate that reflects the credit risk of the issuer. The Group obtains the valuation for its senior secured notes from an independent service provider on a quarterly basis. The fair value of the contingent consideration does not underlie any variation, the recognized amount is fixed.

The carrying amounts of other investments, trade accounts receivables, cash, other financial assets and trade accounts payable closely approximate their fair value due to their predominantly short-term nature.

21 Notes to the consolidated statement of cash flows

The statement of cash flows is prepared in compliance with IAS 7. The statement of cash flows of the Stabilus Group shows the development of the cash flows from operating, investing and financing activities. Inflows and outflows from operating activities are presented in accordance with the indirect method and those from investing and financing activities by the direct method. The cash funds reported in the statement of cash flows comprise all liquid funds, cash balances and cash at banks reported in the statement of financial position. Interest payments in the first half of fiscal year 2022 amounting to €(2,578) thousand (H1 FY2021: €(2,377) thousand) are reflected in cash outflows from financing activities. Income tax payments in the same period amounting to €(18,424) thousand (H1 FY2021: €(13,109) thousand) are recognized in cash flows from operating activities.

22 Segment reporting

The Stabilus Group is organized and managed primarily on a regional level. The three reportable operating segments of the Group are EMEA, Americas and APAC. The product portfolio is largely similar in these three segments.

The Group measures the performance of its operating segments through a measure of segment profit or loss (key performance indicator) which is referred to as "adjusted EBIT". Adjusted EBIT represents EBIT, adjusted for exceptional non-recurring items (e.g., restructuring, or one-time advisory costs) and depreciation / amortization of fair value adjustments resulting from purchase price allocations (PPAs).

Segment information for the six months ended March 31, 2022, and 2021 is as follows:

Segment reporting	T _ 042
-------------------	---------

		EMEA		Americas	APAC Six months ended March 31,
		Six months ended March 31,	Six months ended March 31,
IN € THOUSANDS	2022	2021	2022	2021	2022	2021
External revenue1)	230,354	240,924	172,457	168,761	122,099	69,722
Intersegment revenue1)	17,098	16,158	15,214	12,083	23	91
Total revenue1)	247,452	257,082	187,671	180,844	122,122	69,813
Depreciation and amortization (incl. impairment losses)	(17,435)	(17,088)	(8,181)	(7,711)	(5,462)	(4,266)
EBIT	22,827	31,343	17,493	23,067	23,674	11,247
Adjusted EBIT	25,674	34,295	19,150	24,640	23,754	11,323

		Total segments		Other / Consolidation	Stabilus Group Six months ended March 31,
IN € THOUSANDS		Six months ended March 31,	Six months ended March 31,
	2022	2021	2022	2021	2022	2021
External revenue1)	524,910	479,407	–	–	524,910	479,407
Intersegment revenue1)	32,335	28,332	(32,335)	(28,332)	–	–
Total revenue1)	557,245	507,739	(32,335)	(28,332)	524,910	479,407
Depreciation and amortization (incl. impairment losses)	(31,078)	(29,065)	(2,329)	(2,329)	(33,407)	(31,394)
EBIT	63,994	65,657	(2,329)	(2,329)	61,665	63,328
Adjusted EBIT	68,578	70,258	–	–	68,578	70,258

1) Revenue breakdown by location of Stabilus company (i.e. "billed-from view").

The column "Other / Consolidation" includes among others the effects from the purchase price allocation for the April 2010 business combination. The effects from the purchase price allocation for the June 2016 and April 2019 business combinations are included in the regions.

The following table sets out the reconciliation of the total segments' profit (adjusted EBIT) to profit before income tax.

Reconciliation of the total segments' profit to profit / (loss) before income tax		T _ 043
-----------------------------------------------------------------------------------	--	---------

	Six months ended March 31,
IN € THOUSANDS	2022	2021
Total segments' profit (adjusted EBIT)	68,578	70,258
Other / consolidation	–	–
Group adjusted EBIT	68,578	70,258
Adjustments to EBIT	(6,913)	(6,930)
Profit from operating activities (EBIT)	61,665	63,328
Finance income	3,599	407
Finance costs	(4,566)	(7,531)
Profit / (loss) before income tax	60,698	56,204

23 Related party relationships

According to IAS 24, the reporting entity has to disclose specific information of transactions between the Group and other related parties. Balances and transactions between the Company and its fully consolidated subsidiaries, which constitute related parties within the meaning of IAS 24, have been eliminated in the course of consolidation and are therefore not commented on in this note. To our knowledge no individual shareholder of Stabilus SE (formerly Stabilus S. A.) can exercise significant influence over the Company or the Group. The consolidated financial statements do not include any associated companies that are accounted for using the equity method and none of the Group entities can exercise significant influence over entities that are not included in the scope of consolidation.

Related parties of the Stabilus Group primarily comprise the Stabilus Group's management which also holds an investment in the Company. The remuneration of and other transactions with key managers of the Company constitute related party transactions pursuant to IAS 24.

24 Subsequent events

Within the extraordinary general meeting on March 24, 2022, and with effect from April 5, 2022, it was resolved to increase the nominal value per share from €0.01 to €1.00 and consequently to increase the share capital from €247 thousand to €24.7 million. The increase of issued capital was made from own funds from the capital reserves of the Company. The Company's Articles of Association were updated in accordance with the resolutions.

As of April 29, 2022, there were no further events or developments that could have materially affected the measurement and presentation of Group's assets and liabilities as of March 31, 2022.

RESPONSIBILITY STATEMENT

To the best of our knowledge, and in accordance with the applicable accounting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the corporation, and the interim management report of the corporation includes a fair review of the development and performance of the business and the position of the corporation, together with a description of the principal opportunities and risks associated with the expected development of the corporation for the remaining months of the fiscal year.

Luxembourg, April 29, 2022

Dr. Michael Büchsner Mark Wilhelms Andreas Schröder Andreas Sievers

Management Board

ADDITIONAL INFORMATION

FINANCIAL CALENDAR

Financial calendar T _ 044

DATE 1)2)	PUBLICATION / EVENT
May 2, 2022	Publication of the second-quarter results for fiscal year 2022 (Interim Report Q2 FY2022)
August 1, 2022	Publication of the third-quarter results for fiscal year 2022 (Quarterly Statement Q3 FY2022)
November 11, 2022	Publication of preliminary financial results for fiscal year 2022
December 9, 2022	Publication of full year results for fiscal year 2022 (Annual Report 2022)

1) We cannot rule out changes of dates. We recommend checking them on our website in the Investors / Financial Calendar section (www.stabilus.com/investors/financial-calendar).

2) Please note that our fiscal year (FY) comprises a twelve-month period from October 1 until September 30 of the following calendar year, e.g., the fiscal year 2022 comprises a year ending September 30, 2022.

DISCLAIMER

Forward-looking statements

This interim report contains forward-looking statements that relate to the current plans, objectives, forecasts and estimates of the management of Stabilus SE (formerly Stabilus S. A.) These statements take into account only information that was available up to and including the date that this interim report was prepared. The management of Stabilus SE (formerly Stabilus S. A.) makes no guarantee that these forward-looking statements will prove to be right. The future development of Stabilus SE (formerly Stabilus S. A.) and its subsidiaries and the results that are actually achieved are subject to a variety of risks and uncertainties which could cause actual events or results to differ significantly from those reflected in the forward-looking statements. Many of these factors are beyond the control of Stabilus SE (formerly Stabilus S. A.) and its subsidiaries and therefore cannot be precisely predicted. Such factors include, but are not limited to, changes in economic conditions and the competitive situation, changes in the law, interest rate or exchange rate fluctuations, legal disputes and investigations, and the availability of funds. These and other risks and uncertainties are set forth in the Group Management Report. However, other factors could also have an adverse effect on our business performance and results. Stabilus SE (formerly Stabilus S. A.) neither intends nor assumes any separate obligation to update forward-looking statements or to change these to reflect events or developments that occur after the publication of this interim report.

Rounding

Certain numbers in this interim report have been rounded up or down. There may therefore be discrepancies between the actual totals of the individual amounts in the tables and the totals shown as well as between the numbers in the tables and the numbers given in the corresponding analyses in the text of the interim report. All percentage changes and key figures in the Group Management Report were calculated using the underlying data in millions of euros rounded to one decimal place (€ millions).

INFORMATION RESOURCES

Further information including news, reports and publications can be found in the investors section of our website at www.stabilus.com/investors.

Investor Relations

Phone: +352 286 770 21 Fax: +352 286 770 99 Email: [email protected]

W W W. S T A B I L U S . C O M

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AI Terminal

Stabilus SE

6214_ir_2022-05-02_04e82585-cc49-4692-880b-5a6622440d47.pdf

INTERIM REPORT Q2 FY2022

HIGHLIGHTS

H1 FY2022

Revenue increased despite the economic uncertainties in the market environment

Revenue by operating segment (i.e. region, location of Stabilus company) Revenue by business unit

Key events

INTERIM GROUP MANAGEMENT REPORT

Alternative Performance Measures (APMs) in the interim group management report for the first half of fiscal year 2022

Key events in the first half of fiscal year 2022

RESULTS OF OPERATIONS

SECOND QUARTER AND FIRST HALF OF FISCAL YEAR 2022

Income statement T _ 001

Income statement T _ 002

Revenue

Cost of sales and overhead expenses

Cost of sales

R&D expenses

Selling expenses

Administrative expenses

Other income and expense

Finance income and costs

Income tax expense

Reconciliation of EBIT to adjusted EBIT

Reconciliation of EBIT to adjusted EBIT T _ 005

DEVELOPMENT OF OPERATING SEGMENTS

Operating segments T _ 006

Operating segments T _ 007

FINANCIAL POSITION

Total assets

Non-current assets

Current assets

Equity

increase results from the profit of €44.2 million and from the other

LIQUIDITY

Cash flow from operating activities

Cash flow from investing activities

Cash flow from financing activities

Free cash flow (FCF)

Free cash flow T _ 010

Adjusted free cash flow

Adjusted free cash flow T _ 011

Net leverage ratio

Net leverage ratio T _ 012

Financial debt T_013

RISKS AND OPPORTUNITIES SUBSEQUENT EVENTS

OUTLOOK

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Consolidated statement of comprehensive income T_015

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

CONSOLIDATED STATEMENT OF CASH FLOWS

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

1 General information

Company information

Basis for preparation

Presentation

2 Revenue

The Group's revenue developed as follows:

3 Finance income

Finance income T_020

4 Finance costs

Finance costs T_021

5 Earnings per share

Weighted average number of shares T _ 022

6 Property, plant and equipment

7 Other intangible assets 8 Equity-accounted and other investments

Equity-accounted investments

A INTERIM GROUP MANAGEMENT REPORT B CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) • EQUITY-ACCOUNTED AND OTHER INVESTMENTS • OTHER FINANCIAL ASSETS • OTHER ASSETS

Equity-accounted investments T _ 026

Other investments

Other financial assets T _ 027

10 Other assets

Other assets T _ 028

11 Inventories

Inventories T _ 029 IN € THOUSANDS March 31, 2022 Sept 30, 2021 Raw materials and supplies 74,718 67,205 Finished products 32,091 31,536 Work in progress 23,817 20,841 Merchandise 24,319 17,308 Inventories 154,945 136,890

12 Equity