Stabilus SE

Quarterly Report • Jul 29, 2024

QUARTERLY STATEMENT 9M FY2024

STABILUS AT A GLANCE

Q3 for the period
from April 1 to June 30,

[^0]
[^0]: ${ }^{1)}$ Active and inactive employees without contract workers, trainees, interns and graduates.

MAIN MESSAGES

DESTACO INTEGRATION SUCCESSFUL DESPITE DIFFICULT MARKET ENVIRONMENT

• The Group's total revenue in the first nine months has climbed by $+€ 61.8$ million, or $+6.8 \%$, compared with the same period in the previous year to $€ 969.6$ million (organic revenue growth rate of $+1.6 \%$ ). In contrast, the organic revenue growth in the third quarter of fiscal 2024 fell by (2.5) \%.
• The APAC region achieved significant revenue growth rate of $+16,2 \%$ (organic revenue growth rate $+17.2 \%$ ). In contrast, the other two regions were unable to continue their organic revenue growth due to lower release quantities, particularly in the automotive segment and in the commercial vehicles market segment. The EMEA region grew by $+5.4 \%$ in the first nine months (organic revenue growth rate (0.5) \%). The Americas region grew by $+2.8 \%$ (organic revenue growth rate (5.5) \%).
• Revenue is up $+4.2 \%$ (organic revenue growth rate $+4.1 \%$ ) in the Automotive Powerise ${ }^{\circledR}$ business unit and $+4.2 \%$ in Automotive Gas Spring (organic revenue growth rate $+1.9 \%$ ), but is down (3.4) \% in Industrial Components (organic revenue growth rate $(1.3) \%)$.
• The Industrial Automation business unit (DESTACO Group) contributed revenue of $€ 48.8$ million in the third quarter of fiscal 2024.
• The contribution of revenue from the Industrial Automation business unit (DESTACO Group) by operating segment is as follows: Americas at $€ 26.9$ million, EMEA at $€ 14.6$ million and APAC at $€ 7.3$ million.

SIGNIFICANT EVENTS

Stabilus has revised its forecast for the current fiscal 2024:

• Due to the challenging market environment, Stabilus had already concretized the forecast to the lower end of the forecast ranges targeted for revenue ( $€ 1.4$ billion to $€ 1.5$ billion) and adjusted EBIT margin ( $13 \%$ to $14 \%$ ).
• Revenue of $€ 1.3$ billion to $€ 1.35$ billion is now expected due to lower release quantities in the automotive segment and commercial vehicles market segment. The adjusted EBIT margin is expected to range from $11.7 \%$ to $12.3 \%$.

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

IMPORTANT EVENTS

• Having successfully completed the acquisition of the DESTACO Group, Stabilus continues with its integration. The DESTACO Group will now be managed as the Industrial Automation business unit.
• The existing syndicated Group loan agreement was extended by one year to June 2029 on the basis of the same terms. In addition, all syndicate banks agreed to the amendment agreement, which permits local debt financing of up to $€ 100$ million instead of the previous $€ 30$ million.

Revenue by business unit

Automotive
Gas Spring _ $27 \%$

QUARTERLY STATEMENT

SIGNIFICANT EVENTS IN THE FIRST
NINE MONTHS OF FISCAL 2024
GENERAL INFORMATION
PRINCIPLES OF PREPARING THE QUARTERLY STATEMENT $\qquad$ 08
ECONOMIC REPORT
OVERALL ASSESSMENT OF BUSINESS PERFORMANCE $\qquad$ 11
RESULTS OF OPERATIONS OF THE STABILUS GROUP $\qquad$ 12
FINANCIAL POSITION OF THE STABILUS GROUP $\qquad$ 22
REPORT ON RISKS AND OPPORTUNITIES $\qquad$ 27
REPORT ON EXPECTED DEVELOPMENTS $\qquad$ 28
SURSEQUENT EVENTS $\qquad$ 29

SUPPLEMENTARY FINANCIAL INFORMATION

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME $\qquad$ 30
CONSOLIDATED STATEMENT OF FINANCIAL POSITION $\qquad$ 31
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY $\qquad$ 32
CONSOLIDATED STATEMENT OF CASH FLOWS $\qquad$ 33
SEGMENT REPORTING $\qquad$ 34

ADDITIONAL INFORMATION

FINANCIAL CALENDAR $\qquad$ 35
DISCLAIMER $\qquad$ 35
QUARTERLY OVERVIEW $\qquad$ 36
ADDITIONAL INFORMATION $\qquad$ 37

SIGNIFICANT EVENTS IN THE FIRST NINE MONTHS OF FISCAL 2024

STABILUS ADJUSTS ITS BUSINESS OUTLOOK FOR FISCAL 2024

Due to the challenging market environment, at the end of the first half of the year, Stabilus had already concretized the forecast for revenue to the lower end of the ranges targeted at the beginning of the fiscal year ( $€ 1.4$ billion to $€ 1.5$ billion) and adjusted the EBIT margin ( $13 \%$ to $14 \%$ ).

In view of the results achieved in the first nine months of fiscal 2024 and the subdued expectations for global automotive and industrial production for the remaining three months of the fiscal year, the Management Board has revised its forecast for the year. Lower release quantities in the automotive segment and in the commercial vehicles market segment are the reason behind this downturn. This has not affected development of the DESTACO Group, the performance of which is progressing as planned. Based on the above-mentioned effects, the Management Board currently estimates that the anticipated recovery in the remaining months of fiscal 2024 for Stabilus (September 30, 2024) will not materialize. The Management Board now expects revenue in the range of $€ 1.3$ billion to $€ 1.35$ billion and an adjusted EBIT margin in the range of $11.7 \%$ to $12.3 \%$.

STABILUS CONTINUES WITH THE INTEGRATION OF DESTACO INTO THE STABILUS GROUP

Stabilus SE acquired $100 \%$ of the industrial automation specialist DESTACO from the Dover Corporation after entering into the agreement, signed in October 2023, to acquire DESTACO with effect from March 31, 2024 (combination of asset and share deal). The closing conditions were met and the necessary regulatory approvals were issued. DESTACO was consolidated for the first time as of March 31, 2024. The Stabilus Group has significantly strengthened its business in the area of industrial automation with the integration of DESTACO. Moreover, the integration is an important step in the further expansion of the Stabilus Group's industrial business. The acquisition that has now been completed thus marks an important milestone in achieving the balance in revenue between the industrial and the automotive business that we are pursuing as part of our "STAR 2030" strategy.

With respect to the business units, the DESTACO Group is fully embedded in the new Industrial Automation business unit and therefore in the industrial business. The existing Industrial business unit is now called Industrial Components. The product ranges of Stabilus and DESTACO complement each other and can be combined to the benefit of our customers to create integrated solutions, especially for industrial customers.

While the Stabilus Group's products enable controlled motion sequences and precise vibration isolation, DESTACO's strengths include pneumatic and electronic grippers, clamps and end-of-arm tools for robots and grippers as well as indexers and conveyors. Other synergies between Stabilus and DESTACO can also be expected in addition to the technological expertise. DESTACO's core competence consists in precisely gripping, clamping, placing, moving, and repositioning components in a production system. DESTACO products can help customers significantly increase their productivity, which makes them the perfect complement to the Stabilus product range. DESTACO serves customers around the world in a wide variety of markets such as consumer goods, packaging, aerospace, automotive engineering, the life sciences, and nuclear technology. Based on this, the Stabilus Group expects further significant growth in the coming years, supported by the megatrends of industrial automation in response to the global issue of a growing lack of skilled workers.

FINANCING OF THE STABILUS GROUP

Amendment to the existing Group loan agreement

The existing syndicated Group loan agreement was extended by one year to June 2029 on the basis of the same terms on April 23, 2024. In addition, all syndicate banks agreed to the amendment agreement, which permits local debt financing of up to $€ 100$ million instead of the previous $€ 30$ million. Stabilus has thus achieved greater flexibility and stability for the future.

GENERAL INFORMATION

REPORTING ENTITY

By way of resolution of the Extraordinary General Meeting on March 24, 2022 and the subsequent entry in the Luxembourg Trade and Companies Register on April 5, 2022, Stabilus SE, Frankfurt am Main transformed its legal form from that of a Société Anonyme (S. A.) under Luxembourg law to a European Company (Societas Europaea (SE)). Its registered office was located at 2 rue Albert Borschette, L-1246 Luxembourg, until September 1, 2022. Until that date, the Company was entered in the Luxembourg commercial register under no. B151589. The relocation of the registered office from Luxembourg to Frankfurt am Main, Germany, was resolved by the Extraordinary General Meeting on August 11, 2022. Since being entered in the commercial register of the Frankfurt am Main Local Court under no. HRB 128539 on September 2, 2022, the registered office of the Company has been in Frankfurt am Main with the business address Wallersheimer Weg 100, 56070 Koblenz, Germany. The company was originally founded as Servus HoldCo S.à r.l., Luxembourg, on February 26, 2010.

The shares of Stabilus SE, Frankfurt am Main, (hereinafter referred to as "Stabilus SE") are listed in the MDAX of the Frankfurt Stock Exchange (ISIN: DE000STAB1L8) at the end of the reporting period. Their ticker symbol is "STM".

CORPORATE STRATEGY

Stabilus Group is one of the world's leading providers of motion control solutions for customers in a wide range of industries including mobility, health, leisure, furniture, energy, construction, industrial machinery and automation. The Group offers a broad range of solutions for motion control such as gas springs, electromechanical drives (Powerise ${ }^{\circledR}$ ) and dampers, and now also includes the DESTACO Group product portfolio. Stabilus' strategic goal is to become a world leader in intelligent movement control technologies. The main priorities of the STAR 2030 strategy are: (i) to drive profitable and sustainable growth, (ii) to further develop Stabilus' position as a preferred company for customers and employees, (iii) to focus on innovations to offer next-generation motion control solutions, (iv) to be a responsible role model company. The acquisition of DESTACO on March 31, 2024 underscores these strategic objectives and takes the Stabilus Group one major step further on its path to implementing the strategy (further information is available on our website at group.stabilus. com/company/strategy).

CORPORATE CULTURE

The Stabilus Group has set itself the goal of being a company of choice not only for its customers, but also and especially for its employees. Our employees around the world are an enormously important pillar of our corporate success, which is why we have built our corporate culture on our values of trust, reliability, honesty, fairness, and respect. We attach importance to further professional development and equal opportunities for all, with an emphasis on performance, experience and personal qualifications. We can only grow successfully in the long term and implement innovations systematically and efficiently if we harness the diverse ideas and creative solutions in our teams.

HR DEVELOPMENT

For the Stabilus Group, sustainable business success is intrinsically linked to qualified and motivated employees. Consistent and sustainable HR development is therefore a fixed component of our corporate strategy. The management of the Stabilus Group is committed to promoting and maintaining the motivation of all our employees to deliver high service quality and to increase customer satisfaction.

At the same time, Stabilus is systematically expanding our HR resources in line with the growth plans we have defined. The standardized talent and succession planning that was introduced throughout the company for the first time in the past fiscal year is a central element of this. The management of the Stabilus Group, as an attractive employer, believes in training all employees and thus in playing an important role in reducing the skills shortage.

As of the end of the third quarter of fiscal 2024, Stabilus had a total of 7,987 employees worldwide (active and inactive employees, excluding contract workers, trainees, interns and graduates). Stabilus thus posted an increase of 561 employees compared with September 30, 2023 (September 30, 2023: 7,426). This increase is primarily the result of the business combination with the DESTACO Group with 638 employees. The growth in the number of employees compared with September 30, 2023 relates to all three regions Americas, EMEA and APAC.

The Stabilus Group employed 8,457 active and inactive employees as of June 30, 2024, including contract workers, trainees, interns and graduates (September 30, 2023: 8,008).

RESEARCH AND DEVELOPMENT

At the Stabilus Group, focused research and development are intrinsically linked with the successful implementation of the STAR 2030 strategy. Stabilus is therefore investing in all regions in the development of new products and processes as well as the qualifications of the employees who make the Group's success possible.

At Stabilus, research and development in a growing corporate group means the drive to try new things and clear the way for new product ideas and solutions and for a competitive edge down the line through unconventional approaches. Stabilus launched a think tank covering all the Group's brands for the first time in the last fiscal year, bringing together its creative minds who possess a wide range of skills and experience thanks to their different backgrounds and work areas. The think tank provides the many market segments of the Group with initial solution concepts for problems that will affect our markets moving forward. This enables faster prioritization and decision-making for investments.

Sustainability was also a key area of development activity among our customers. For instance, newly established models were used for the first time to calculate the carbon footprint of the products offered in the course of a tender process for a major German automotive OEM, to satisfy increased customer demand for transparency.

It is a stated and practiced philosophy at Stabilus to encourage all employees to help shape the future with innovative ideas. This is why the global Innovation Race was conducted in the period under review and for the second time since its introduction in 2019, with a call to the employees at all locations to submit their ideas in a number of categories in the
course of a competition. Awards were presented for the best ideas. The successful ongoing development of the culture of innovation is also manifested in the fact that, unlike just four years ago, all Stabilus companies in the three regions contributed ideas for the future. The new sustainability award category underscores Stabilus' determination to systematically promote products, processes, and services to conserve resources. The winning project was a newly designed electromechanical drive with a compact transmission and component design that can be used for door hinge drives. This product will enable Stabilus to stand out from its competitors.

SUSTAINABILITY STRATEGY / MANAGEMENT

The Stabilus Group takes its role as a model corporate citizen very seriously. The endeavors to ensure our actions are ecologically, economically and socially sustainable so that we can help shape the future as a leading technology partner, supplier, and employer form the core of the 2030 ESG strategy (Environmental, Social and Governance). Stabilus reports on sustainability matters in four defined action areas, with specific goals up to 2030 set out for each of them: "environmental and climate protection"; "employees and social engagement"; "products and supply chain"; and "governance and compliance." One focus of the Stabilus sustainability strategy is on reducing carbon emissions. Stabilus has set itself the target of sustainably reducing carbon emissions at its own production facilities and throughout the supply chain. The carbon reduction plan includes measures that will be implemented at various locations of the Group by 2030. The widest range of energy efficiency projects were launched at the start of fiscal 2024 with a view to reducing carbon emissions. The expansion of in-house photovoltaic systems was driven forward on a global scale in order to increase the share of renewable electricity generated in-house.

Stabilus is also gradually pushing ahead with the switchover to renewable energy sources. For example, during the course of the fiscal year some plants were able to switch entirely to renewable electricity sources. The carbon reduction in the supply chain will be achieved through targeted procurement strategies and supplier management (further information on the non-financial reporting can be found on our website at ic.stabilus.com/investor-relations/non-financial-reports/).

Stabilus is currently working on the implementation of future regulatory requirements arising from the Corporate Sustainability Reporting Directive (CSRD), the Carbon Border Adjustment Mechanism (CBAM), and the EU Deforestation Regulation (EUDR). As part of the CSRD transformation, Stabilus has initiated a group-wide project comprising the ESG department as the interdisciplinary project team as well as the relevant specialist departments. As part of the CSRD transformation, Stabilus will revise and recast its materiality analysis. The CSRD will be applicable to Stabilus starting from fiscal 2025 (which ends on September 30, 2025).

PRINCIPLES OF PREPARING THE QUARTERLY STATEMENT

USE OF ALTERNATIVE PERFORMANCE MEASURES (APMS)

In addition to performance indicators defined or listed in the IFRS accounting framework, the Stabilus Group also reports financial performance indicators that are derived from or based on the prepared financial statements (referred to as "alternative performance measures" or APMs). The Stabilus Group's management sees these financial performance indicators as key additional information for investors and other readers of the financial reports. These financial performance indicators should therefore be considered supplementary to the information prepared in accordance with IFRS and not a substitute. 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 the APMs used to the items in Stabilus SE's quarterly statement that can be reconciled directly. The Stabilus Group uses the following APMs in this quarterly statement:

• organic growth;
• adjusted EBIT;
• free cash flow;
• adjusted free cash flow; and
• net leverage ratio.

The calculation of the net leverage ratio is based on net financial debt and adjusted EBITDA, which are also considered to be APMs. Organic growth is presented because we believe it aids in understanding the operating performance of the Stabilus Group. Organic growth is defined as reported revenue growth after removing the effects of acquisitions, divestments, and projected exchange rate fluctuations. The effects resulting from constant foreign exchange rates are calculated as current-year revenue converted at applicable current-year average exchange rates, less currentyear revenue converted at average prior-year exchange rates. The definitions and required disclosures for all other APMs are provided in the relevant sections of this quarterly statement.

CHANGES IN CORPORATE STRUCTURE

The DESTACO Group was acquired in full on March 31, 2024 in the course of the closing of the transaction (combination of asset and share deal). The group of entities included in consolidation has been expanded in connection with the transaction by companies that have either been acquired or newly founded. Because of DESTACO's global positioning, all three operating segments of the Stabilus Group are affected - EMEA (Europe, Middle East and Africa), the Americas (North and South America), and APAC (Asia-Pacific). Beyond this, there were no further material changes to the corporate structure compared with the consolidated financial statements for fiscal 2023.

ROUNDING DIFFERENCES

Unless expressly described otherwise, all amounts are shown in thousands of euro ( $€$ thousand). For arithmetical reasons, the information presented in this interim group management report can contain rounding differences of $+/-$ one unit ( $€$ thousand or $\%$ ).

GENDER FORM

For the sake of simplicity, generally only one gender form is used in this report. All other gender forms are expressly intended.

FORWARD-LOOKING STATEMENTS

This quarterly statement contains forward-looking statements. These statements reflect estimates and assumptions - including those of third parties (such as statistical data concerning the automotive industry or global economic developments) - either at the time that they were made or as of the date of this report. Forward-looking statements always entail uncertainty. If these estimates and assumptions later prove to be either inaccurate or only partially accurate, the actual results can differ - even significantly - from expectations.

ECONOMIC REPORT

Stabilus is represented around the world and focuses on automotive and industry applications. In addition to innovations and new products, the key factors that affect Stabilus' business performance are the growth in global gross domestic product (GDP) and, specifically for the automotive sector, the global production volumes of light-duty vehicles (including cars and light commercial vehicles with a weight of less than six tons), and the number of vehicles sold (e.g. new vehicle registrations as an indicator of auto sales).

GENERAL ECONOMIC DEVELOPMENTS

The world economy is facing major challenges in 2024 affecting key markets for the Stabilus Group after global economic output grew by $+3.3 \%$ in the 2023 calendar year despite countervailing factors.

The International Monetary Fund (IMF) forecast global economic growth of $+3.0 \%$ for the 2023 calendar year (World Economic Outlook October 2023), and this has now been adjusted to $+3.3 \%$ following the update in July 2024 (World Economic Outlook - July 2024). Based on current projections, global economic growth of $+3.2 \%$ is expected for the 2024 calendar year. The performance on Stabilus' core markets of Europe, the US and China will vary in 2024, according to the IMF. Within the European Union, German economic output will grow by $+0.2 \%$ in the 2024 calendar year, which contrasts with projected growth of $+0.9 \%$ for the euro area. The IMF is forecasting considerably stronger economic growth of around $+5.0 \%$ for China for the 2024 calendar year. Within the Americas region, growth of $+2.6 \%$ is assumed for the United States, with the Central and South America region expected to grow by $+1.9 \%$ in the 2024 calendar year (Brazil: $+2.1 \%$; Mexico: $+2.2 \%$ ). In addition to the International Monetary Fund forecast from July 2024, the latest OECD forecast issued in May 2024 anticipates a muted recovery in global economic activity. The world economy is accordingly expected to grow by $+3.1 \%$ in the 2024 calendar year, followed by $+3.2 \%$ in the 2025 calendar year.

Latest growth projections for selected national economies

\% YEAR-ON-YEAR CHANGE IN THE CALENDAR YEAR	$2024 *$	2023
World	$3.2 \%$	$3.3 \%$
European Union	$1.2 \%$	$0.6 \%$
thereof euro area	$0.9 \%$	$0.5 \%$
thereof Germany	$0.2 \%$	$(0.2) \%$
United Kingdom	$0.7 \%$	$0.1 \%$
United States	$2.6 \%$	$2.5 \%$
Latin America	$1.9 \%$	$2.3 \%$
thereof Brazil	$2.1 \%$	$2.9 \%$
thereof Mexico	$2.2 \%$	$3.2 \%$
Emerging and Developing Asia	$5.4 \%$	$5.7 \%$
thereof China	$5.0 \%$	$5.2 \%$

Source: International Monetary Fund, World Economic Outlook, July 2024.
Projections.

Significant factors influencing economic development, include the ongoing Russia-Ukraine war and the Israel conflict as well as their repercussions such as shortages of energy, raw materials, and supplier products. Inflation was also exacerbated by high collective wage agreements in Germany and many other countries.

According to estimates by the ifo Institute, the average global rate of inflation forecast for the 2024 calendar year will be around $4.6 \%$ (as of April 2024). In the EMEA region, inflation in the European Union (EU) stood at around $2.6 \%$ in June 2024, thereby continuing to decline compared with the preceding months of fiscal 2024 (February inflation: $+2.8 \%$ ). However, since March, inflation in the EU has stagnated between $2.6 \%$ and $2.7 \%$. Inflation was $2.5 \%$ in Stabilus' core market of Germany in June 2024 and thus rose slightly compared with the previous months of fiscal 2024. Compared with the previous month, however, inflation in Germany weakened by (0.3) percentage points. The inflation situation is
gradually easing in the Americas region: Inflation in Stabilus' core US market was $3.0 \%$ in June 2024 and thus at the same level as in June 2023 compared to the same period of the previous year. Inflation in the APAC region is lower on average by comparison, with Stabilus' core market of China reporting inflation of approximately $0.2 \%$ in June 2024 and thus lower than the figure of around $0.4 \%$ anticipated by the market.

FINANCING ENVIRONMENT

Interest rate developments at the European Central Bank (ECB) and the Federal Reserve (Fed) will be a key factor. As part of its efforts to counteract inflation, the ECB last raised its key interest rate by $+0.25 \%$, to $4.5 \%$, in September 2023. However, after ten hikes in a row, the ECB left the key interest unchanged rate for the euro area in October 2023. In June 2024, the ECB lowered key interest rates by 0.25 percentage points to $4.25 \%$ for the first time in almost five years. The Fed left its rate unchanged again - at

its highest level in 22 years - in June 2024. Restrictive monetary policy on the part of the central banks is helping reduce inflation, although the $2 \%$ target has still not been met. Further changes to rates by the ECB and the Fed cannot be ruled out.

SECTOR DEVELOPMENTS

Development in the automotive industry

Despite the still-tense economic situation, high interest rates, the ongoing Russia-Ukraine war and the Israel conflict as well as their repercussions, +2.6 million more light vehicles were produced worldwide in the months from October 2023 to June 2024 (9M FY2024) than in the same period of the previous year, bringing the total number of vehicles produced to 68.1 million, according to S\&P Global Mobility (as of June 2024). The highest increase in the number of cars produced was in the APAC region, where the number was up by $+6.0 \%$ at 38.8 million units in the first nine months of fiscal 2024 (China: +2.4 million more units produced). Over the same period, the Americas region produced $+1.5 \%$ more units for a total of 0.2 million more units compared with the same period in the previous year (USA: +0.1 million more units produced). By contrast, the EMEA region recorded the worst performance, with $+1.3 \%$ and a total of 15.4 million units produced compared with the corresponding period in the previous year (Germany: ( 0.1 ) million fewer units produced).

According to the European Automobile Manufacturers Association (ACEA), in the first nine months of fiscal 2024 (October 1, 2023 to June 30, 2024), new car registrations in the EU increased by around $+4.9 \%$ year-on-year (as of June 2024). According to Country Economy, the United States reported a decline in new passenger car registrations in the first nine months of fiscal 2024 of around (2.0) \% compared to the same period of the previous year (as of June 2024). In the third quarter of fiscal 2024 alone, the United States recorded a decline in new car

Production of light vehicles*
IN MILOONS OF UNITS PER FISCAL YEAR	9M 2024**	9M 2023
EMEA	15.4	15.2
thereof Germany	3.2	3.3
Americas	13.9	13.7
thereof United States	7.9	7.8
APAC	38.8	36.6
thereof China	22.1	19.7
Worldwide production of light vehicles*	68.1	65.5

Source: S\&P Global Mobility/Light Vehicle Production Forecast (June 2024).

• Passenger and light commercial vehicles (+ B3)
  ** S\&P Global Mobility Forecast, June 2024.
  registrations of around (7.2) \% compared to the same period of the previous year (as of June 2024). In the same period, new passenger car registrations in China saw year-on-year growth of around $+11.3 \%$ (as of June 2024), according to the China Association of Automobile Manufacturers (CAAM).

Development in the industrial sector

Industrial production was impacted by current global challenges including the slowdown in global growth, unfavorable financing conditions, the effects of the Russia-Ukraine war and the Israel conflict, supply bottlenecks, and the shortage of raw materials.

According to Eurostat (the Statistical Office of the European Union), seasonally adjusted industrial production (development of the volume of production for industry excluding construction, based on data adjusted for calendar and seasonal effects) fell by (2.5) \% in the European Union in May 2023 compared to May 2024. Germany experienced a decrease of $(6.6) \%$.

In the United States, seasonally adjusted industrial production was up $0.4 \%$ year-on-year in May 2024. This marks the first increase in five months after a downward adjustment of ( $0.7) \%$ in April 2024.

In China, industrial production rose in June 2024 by $+5.3 \%$ compared with the same period of 2023, thereby exceeding the forecast of $+4.9 \%$.

Development of the procurement markets

The procurement markets are currently seeing a gradual easing in prices for individual raw materials and intermediate products. Nevertheless, the Stabilus Group's current procurement prices are subject to certain dynamics. In addition, consistently high inflation and higher staff costs experienced by suppliers are other key factors influencing various procurement markets.

OVERALL ASSESSMENT OF BUSINESS PERFORMANCE

OVERALL STATEMENT ON BUSINESS PERFORMANCE AND THE ECONOMIC SITUATION OF THE STABILUS GROUP

The Stabilus Group performed well in the first nine months of fiscal 2024 despite the challenging market environment. It generated revenue of $€ 969,593$ thousand (9M FY2023: $€ 907,776$ thousand) - which translates into revenue growth of $+6.8 \%$ (organic growth rate: $+1.6 \%$ ) - and thus significantly outperformed the first nine months of fiscal 2024. The initial inclusion of the DESTACO Group in particular had a positive effect in this regard. In addition, despite the challenging market environment due to geopolitical and inflation challenges along with other factors, Stabilus demonstrated the company's stability and market presence even in the current economically volatile times.

The APAC region achieved significant revenue growth here, climbing from $€ 198.5$ million to $€ 230.6$ million. This represents an organic revenue growth rate of $+17.2 \%$. Revenue in the EMEA region reached $€ 396.7$ million despite the difficult market environment, although organic revenue growth fell by ( 0.5$) \%$. Revenue in the Americas region increased to $€ 342.3$ million; however, this can be attributed to the initial inclusion of the DESTACO Group. Organic revenue growth rate for the Americas region is (5.5) \% (information on operating segments from page 17).

The DESTACO Group, which has formed part of the Stabilus Group since March 31, 2024, was included in full in the group of consolidated entities and contributed revenue of $€ 48.8$ million to the Stabilus Group in the third quarter of 2024, meaning it is on course to achieve the target revenue of $€ 100$ million for the third and fourth quarter of fiscal 2024. The Americas region generated revenue of $€ 26.9$ million, the EMEA region $€ 14.6$ million and the APAC region $€ 7.3$ million.

The Automotive Powerise ${ }^{\circledR}$ business generated organic revenue growth of $+4.1 \%$, thanks in particular to high customer demand in Asia. This is slightly higher than the figure for global vehicle production, which rose by $+4.0 \%$ in the first nine months of fiscal 2024. A positive trend is also evident in the Automotive Gas Spring business unit, which achieved organic revenue growth of $+1.9 \%$ compared with the first nine months of fiscal 2023. Revenue of the Stabilus Industry business rose by $+11.3 \%$, which is mainly attributable to the initial inclusion of the DESTACO Group. In organic terms, revenue fell by (1.3) \% in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023.

Due to the improvement in earnings achieved in the third quarter of fiscal 2024, with adjusted EBIT amounting to $12.3 \%$ of revenue, the EBIT margin improved by $+0.2$ percentage points from $11.7 \%$ to $11.9 \%$ compared with the half-year figures.

The Group closed the first nine months of fiscal 2024 with adjusted EBIT of $€ 115.2$ million (9M FY2023: $€ 115.3$ million). This represents an adjusted EBIT margin of $11.9 \%$ (9M FY2023: $12.7 \%$ ), which is lower than in the previous year.

Geopolitical developments and their repercussions, including the high level of global inflation, led to cost increases in many areas. High inflation also had a negative effect on staff costs. The Stabilus Group counters these expenses with ongoing process optimization in order to compensate for the forecast cost increase through efficiency programs as far as possible. In addition, only some of the higher costs could be passed on to customers in the form of price increases and only after a delay, leading to a partial offsetting effect.

The financial covenants of the facility agreement were complied with at all times. The net leverage ratio remains unchanged compared to the halfyear figures as of March 31, 2024 at 2.8x (September 30, 2023: 0.3x). The increase can primarily be attributed to the business combination with the DESTACO Group. The acquisition was purchased using credit facilities that have been granted and own funds (please refer to statements on the net leverage ratio on page 26). A total of $€ 322.0$ million of the committed revolving credit facility worth $€ 350.0$ million has been utilized as of June 30, 2024. In addition, Stabilus has drawn down the granted bridge financing of $€ 250.0$ million in full. As of June 30, 2024, $€ 28.0$ million of the committed revolving credit facility worth $€ 350.0$ million has not been utilized. The Stabilus Group also has cash and cash equivalents in the amount of $€ 139.4$ million.

RESULTS OF OPERATIONS OF THE STABILUS GROUP

ANALYSIS OF REVENUE DEVELOPMENT

The following tables show the development of the Stabilus Group's revenue for the third quarter and the first nine months of fiscal 2024 compared to the third quarter and first nine months of fiscal 2023. The acquisition effects shown here relate to the acquisition of the DESTACO Group (since April 1, 2024 in the amount of $€ 48.8$ million) as well as the Cultraro Group (since August 1, 2023 in the amount of $€ 13.3$ million in FY2024).

The revenue of the Stabilus Group climbed $+€ 61.8$ million or by $+6.8 \%$ to $€ 969.6$ million in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023 (9M FY2023: €907.8 million). Adjusting for the exchange rate effect of $€(14.3)$ million and the acquisition effect of $+€ 62.0$ million, the Stabilus Group achieved organic revenue growth of $+€ 14.1$ million, or $+1.6 \%$, in the first nine months of fiscal 2024. The increase in organic revenue results here, on the one hand, from a volume effect thanks to higher demand for parts from the Stabilus Group, but also, on the other, to a price effect in respect of customers in order to offset the sometimes high cost hikes due to inflation, particularly increases in staff costs.

While the EMEA and Americas regions experienced organic revenues in the third quarter and nominal growth can be attributed to the acquisition of DESTACO, the APAC region was able to achieve positive revenue growth rates in the third quarter. Revenue growth in the EMEA and Americas regions is primarily attributable to the reduced releases in the automotive segment and in the commercial vehicles market segment.

Revenue by region and business unit
Q3 for the period
from April 1 to June 30.

	2024	2023	\% change	\% acquisition effect	\% currency effect	\% organic growth
EMEA
Automotive Gas Spring	32.0	31.8	$0.6 \%$	$7.4 \%$	$0.0 \%$	$(6.8) \%$
Automotive Powerise ${ }^{\text {® }}$	27.7	30.2	$(8.3) \%$	-	$(0.5) \%$	$(7.8) \%$
Industrial Components	66.6	67.9	$(1.9) \%$	$2.3 \%$	$(1.1) \%$	$(3.1) \%$
Industrial Automation (DESTACO)	14.6	-	n/a	n/a	-	n/a
Total EMEA ${ }^{1)}$	140.9	129.9	8.5\%	$14.3 \%$	$(0.7) \%$	$(5.1) \%$
Americas
Automotive Gas Spring	31.1	30.6	$1.6 \%$	-	$1.9 \%$	$(0.3) \%$
Automotive Powerise ${ }^{\text {® }}$	39.0	41.2	$(5.3) \%$	-	$3.2 \%$	$(8.5) \%$
Industrial Components	36.9	38.1	$(3.1) \%$	-	$(4.0) \%$	$0.9 \%$
Industrial Automation (DESTACO)	26.9	-	n/a	n/a	-	n/a
Total Americas ${ }^{1)}$	133.9	109.9	21.8\%	24.5\%	0.3\%	(3.0) $\%$
APAC
Automotive Gas Spring	25.7	24.1	$6.6 \%$	$2.4 \%$	$(2.3) \%$	$6.5 \%$
Automotive Powerise ${ }^{\text {® }}$	36.7	37.1	$(1.1) \%$	-	$(1.5) \%$	$0.4 \%$
Industrial Components	6.2	5.5	$12.7 \%$	$2.6 \%$	$2.5 \%$	$7.6 \%$
Industrial Automation (DESTACO)	7.3	-	n/a	n/a	-	n/a
Total APAC ${ }^{1)}$	75.9	66.7	13.8\%	12.0\%	(1.4) $\%$	3.2\%
Stabilus Group
Total Automotive Gas Spring	88.8	86.5	$2.7 \%$	$3.4 \%$	$0.0 \%$	$(0.7) \%$
Total Automotive Powerise ${ }^{\text {® }}$	103.4	108.5	$(4.7) \%$	-	$0.6 \%$	$(5.3) \%$
Total Industrial Components	109.7	111.5	$(1.6) \%$	$1.5 \%$	$(1.9) \%$	$(1.2) \%$
Total Industrial Automation (DESTACO)	48.8	-	n/a	n/a	-	n/a
Revenue ${ }^{1)}$	350.7	306.5	14.4\%	17.4\%	(0.5) $\%$	(2.5) $\%$

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

The increase in the Stabilus Group revenue in the third quarter and the first nine months of fiscal 2024 was largely thanks to the initial inclusion of the DESTACO Group. In addition, revenue growth was fueled by the strong customer demand for the Stabilus product portfolio in the APAC region. Revenue in the APAC region rose by $+€ 32.1$ million, or $+16.2 \%$, to $€ 230.6$ million. The organic revenue growth rate, adjusted for currency and acquisition effects, was $+17.2 \%$.

Revenue in the EMEA region also climbed by $+€ 20.5$ million, or $+5.4 \%$. In contrast, the organic revenue growth rate adjusted for currency and acquisition effects was $(0.5) \%$. The challenging economic market conditions, partly a result of geopolitical uncertainties and the negative impact of high inflation, made for a difficult environment. Nevertheless, Stabilus was able to maintain its market position.

In the Americas region, revenue increased by $+€ 9.3$ million or $+2.8 \%$ to $€ 342.3$ million. In contrast, the organic revenue growth rate adjusted for currency and acquisition effects was $(5.5) \%$. The US economy was also confronted with challenging economic market conditions, partly as a result of the geopolitical uncertainties and the negative impact of high inflation.

Revenue by region and business unit
T. 884

9 M for the period from October 1 to June 30.
	2024	2023	\% change	\% acquisition effect	\% currency effect	\% organic growth
EMEA
Automotive Gas Spring	95.2	90.3	$5.4 \%$	$7.9 \%$	$0.0 \%$	(2.5)%
Automotive Powerise ${ }^{\text {® }}$	86.0	86.8	$(0.9) \%$	-	$(0.9) \%$	$0.0 \%$
Industrial Components	200.9	199.2	$0.9 \%$	$2.2 \%$	(1.6) \%	$0.3 \%$
Industrial Automation (DESTACO)	14.6	-	n/a	n/a	-	n/a
Total EMEA ${ }^{1)}$	396.7	376.2	5.4\%	7.0\%	(1.1) $\%$	(0.5) $\%$
Americas
Automotive Gas Spring	89.4	89.2	$0.2 \%$	-	$1.4 \%$	(1.2) $\%$
Automotive Powerise ${ }^{\text {® }}$	123.7	127.1	(2.7) $\%$	-	$5.5 \%$	(8.2) $\%$
Industrial Components	102.3	116.7	(12.3) $\%$	-	(6.6) $\%$	(5.7) $\%$
Industrial Automation (DESTACO)	26.9	-	n/a	n/a	-	n/a
Total Americas ${ }^{1)}$	342.3	333.0	2.8\%	8.1\%	0.2\%	(5.5) $\%$
APAC
Automotive Gas Spring	81.0	75.3	$7.6 \%$	$1.8 \%$	(5.5) $\%$	$11.3 \%$
Automotive Powerise ${ }^{\text {® }}$	124.4	106.7	$16.6 \%$	-	(5.7) $\%$	$22.3 \%$
Industrial Components	18.0	16.5	$9.1 \%$	$2.1 \%$	(3.9) $\%$	$10.9 \%$
Industrial Automation (DESTACO)	7.3	-	n/a	n/a	-	n/a
Total APAC ${ }^{1)}$	230.6	198.5	16.2\%	4.5\%	(5.5) $\%$	17.2\%
Stabilus Group
Total Automotive Gas Spring	265.5	254.8	$4.2 \%$	$3.4 \%$	(1.1) $\%$	$1.9 \%$
Total Automotive Powerise ${ }^{\text {® }}$	334.1	320.6	$4.2 \%$	-	$0.1 \%$	$4.1 \%$
Total Industrial Components	321.2	332.4	(3.4) $\%$	$1.4 \%$	(3.5) $\%$	(1.3) $\%$
Total Industrial Automation (DESTACO)	48.8	-	n/a	n/a	-	n/a
Revenue ${ }^{1)}$	969.6	907.8	6.8\%	6.8\%	(1.6) $\%$	1.6\%

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

EARNINGS ANALYSIS

The following tables show the consolidated income statement for the Stabilus Group for the third quarter and the first nine months of fiscal 2024 compared to the third quarter and first nine months of fiscal 2023. Due to the initial inclusion of the DESTACO Group and the Cultraro Group, the
individual cost items in the income statement recorded significant increases in the first nine months of the fiscal year compared with the same period of the previous year.

Income statement
Q3 for the period
from April 1 to June 30,
\% change

2024	2023
Revenue	350.7	306.5	$14.4 \%$
Cost of sales	$(256.3)$	$(226.2)$	$13.3 \%$
Gross profit	94.4	80.3	$17.6 \%$
Research and development expenses	$(9.1)$	$(7.8)$	$16.7 \%$
Selling expenses	$(31.4)$	$(24.1)$	$30.3 \%$
Administrative expenses	$(18.8)$	$(10.4)$	$80.8 \%$
Other income	4.3	1.1	$>100.0 \%$
Other expenses	$(0.1)$	$(0.9)$	$(88.9) \%$
Net result from equity-accounted investments	-	0.1	$(100.0) \%$
Profit from operating activities (EBIT)	39.3	38.4	$2.3 \%$
Finance income	5.6	0.9	$>100.0 \%$
Finance costs	$(11.9)$	$(6.1)$	$95.1 \%$
Profit/(loss) before income tax	33.0	33.2	$(0.6) \%$
Income tax income/(expense)	$(8.7)$	$(11.5)$	$(24.3) \%$
Profit/(loss) for the period	24.3	21.7	$12.0 \%$

	9M for the period from October 1 to June 30,
	2024	2023	\% change
Revenue	969.6	907.8	$6.8 \%$
Cost of sales	$(717.8)$	$(666.3)$	$7.7 \%$
Gross profit	251.8	241.4	$4.3 \%$
Research and development expenses	$(26.0)$	$(26.4)$	$(1.5) \%$
Selling expenses	$(85.9)$	$(77.5)$	$10.8 \%$
Administrative expenses	$(57.6)$	$(32.4)$	$77.8 \%$
Other income	9.1	4.2	$>100.0 \%$
Other expenses	$(1.0)$	$(5.2)$	$(80.8) \%$
Net result from equity-accounted investments	-	0.4	$(100.0) \%$
Profit from operating activities (EBIT)	90.5	104.6	$(13.5) \%$
Finance income	7.6	5.4	$40.7 \%$
Finance costs	$(20.8)$	$(23.0)$	$(9.6) \%$
Profit/(loss) before income tax	77.3	87.0	$(11.1) \%$
Income tax income/(expense)	$(22.8)$	$(7.2)$	$>100.0 \%$
Profit/(loss) for the period	54.5	79.8	$(31.7) \%$

Cost of sales

Cost of sales increased by $+7.7 \%$ from $€(666.3)$ million in the first nine months of fiscal 2023 to $€(717.8)$ million in the first nine months of fiscal 2024. This increase is mainly due to the initial inclusion of the DESTACO Group in the amount of $€(27.7)$ million (since April 1, 2024) and of the Cultraro Group in the amount of $€(8.6)$ million (since October 1, 2023). This increase is therefore largely due to the significant growth in business volumes compared with the previous year. Revenue costs were also impacted by the substantial rise in staff costs due to inflation compared with the same period of the previous year, which had a strong impact on the cost basis and, in turn, the margin. Compared with the rise in the cost of sales $(+7.7 \%)$, the revenue increased less sharply $(+6.8 \%)$. As a percentage of revenue, the cost of sales saw an increase of
$+0.6$ percentage points, from $73.4 \%$ in the first nine months of fiscal 2023 to $74.0 \%$ in the first nine months of fiscal 2024. Adjusted for the acquisitions (DESTACO and Cultraro), the cost of sales rose by +1.7 percentage points to $75.1 \%$ in relation to the adjusted revenue. The efficiency enhancements initiated in production have started to yield results, but were thus far only partially able to offset the inflation-induced cost increases. The gross profit margin declined from $26.6 \%$ in the first nine months of fiscal 2023 to $26.0 \%$ in the first nine months of fiscal 2024.

Research and development expenses

R\&D costs (less capitalized development costs) declined by (1.5) \%, from $€(26.4)$ million in the first nine months of fiscal 2023 to $€(26.0)$ million in the first nine months of fiscal 2024. The initial inclusion of the DESTACO Group (since April 1, 2024) and the Cultraro Group (since October 1, 2023) led to an increase in costs of $€(1.4)$ million (less deferred development costs). In addition, the Stabilus Group is continuing to invest in research and development so that it can keep offering new products and product applications in the future. This is particularly true for the ongoing development of the Powerise ${ }^{\circledR}$ product range and for the cultivation of new innovation potential and forward-looking business areas such as radar technology and smart door-opening technology. This is also reflected by the higher headcount in research and development. The capitalization of development costs (less customer payments) increased from $+€ 14.1$ million in the first nine months of fiscal 2023 to $+€ 20.3$ million in the first nine months of fiscal 2024. As a percentage of revenue, R\&D expenses decreased by (0.2) percentage points, from $2.9 \%$ in the first nine months of fiscal 2023 to $2.7 \%$ in the first nine months of fiscal 2024. Adjusted for the acquisitions (DESTACO and Cultraro), R\&D expenses fell by ( 0.2 ) percentage points to $2.7 \%$ in relation to the adjusted revenue.

Selling expenses

Selling expenses rose by $+10.8 \%$ in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, from $€(77.5)$ million to $€(85.9)$ million. The increase compared with the same period of the previous year can be attributed to the initial inclusion of the acquisitions (DESTACO and Cultraro) in the amount of $€(7.7)$ million. In addition, higher freight rates for the transport of goods and the rise in salaries due to inflation compared with the same period of the previous year had an impact on selling expenses. As a percentage of revenue, selling expenses rose by +0.4 percentage points, from $8.5 \%$ in the first nine months of fiscal 2023 to $8.9 \%$ in the first nine months of fiscal 2024. Adjusted for the acquisitions (DESTACO and Cultraro), selling expenses rose slightly by +0.1 percentage points to $8.6 \%$ in relation to the adjusted revenue.

Administrative expenses

General administrative expenses rose by $+€ 25.2$ million in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, from $€(32.4)$ million to $€(57.6)$ million. The significant year-on-year increase is due to the one-off consulting costs of $€ 13.4$ million in connection with the acquisition of the DESTACO Group announced in October 2023. Furthermore, the increase was caused by the initial inclusion of the DESTACO Group and Cultraro Group in the amount of $€(8.4)$ million, the growth in headcount compared to the previous year and higher salaries due to inflation. As a percentage of revenue, administrative expenses rose by $+2.3$ percentage points, from $3.6 \%$ in the first nine months of fiscal 2023 to $5.9 \%$ in the first nine months of fiscal 2024. Adjusted for the one-off consulting costs in connection with the acquisition of the DESTACO Group and the inclusion of the DESTACO Group and Cultraro Group, general administrative expenses rose by $+€ 3.2$ million or +0.3 percentage points to $3.9 \%$. This figure includes non-recurring integration costs of $€ 2.0$ million for the DESTACO Group.

Other income and expenses

Other income increased by $+€ 4.9$ million from $+€ 4.2$ million in the first nine months of fiscal 2023 to $+€ 9.1$ million in the first nine months of fiscal 2024. The first nine months of fiscal 2024 primarily includes a $+€ 2.1$ million government subsidy program in China (9M FY2023: $€ 1.3$ million) and income as a result of foreign currency translation gains from operating activities in the amount of $+€ 2.0$ million, which mainly occurred in the Americas region and resulted from the USD/MXN correlation. In addition, the increase is also due to a one-off effect of $+€ 1.0$ million from an earn-out agreement in connection with the Cultraro Group, and miscellaneous other revenue in the first nine months of fiscal 2024 also stems mainly from scrap revenue.

Other expenses fell by $€(4.2)$ million from $€(5.2)$ million in the first nine months of fiscal 2023 compared with $€(1.0)$ million the first nine months of fiscal 2024. The decrease is primarily to lower translation losses from operating business from the same period from the previous year of $€(4.7)$ million, which were mainly incurred in the Americas region and resulted from the USD/MXN correlation.

Finance income and costs

Financial income increased by $+€ 2.2$ million from $+€ 5.4$ million in the first nine months of fiscal 2023 to $+€ 7.6$ million in the first nine months of fiscal 2024. This rise firstly reflects non-recurring exchange rate gains from currency forwards of $€ 3.4$ million entered into to hedge the exchange risk in connection with the payment of the acquisition price for the DESTACO Group. Secondly, the Group generated $+€ 1.6$ million in interest income from investments compared to the same period in the previous year. The major effect from the previous year resulted from the interest refunds on income tax receivables (restructuring clause) amounting to $+€ 3.4$ million.

Net foreign exchange gains of $+€ 2.0$ million (9M FY2023 net foreign exchange losses of: $€(14.5)$ million) were incurred from the translation of foreign currency cash and cash equivalents of $€ 1.8$ million as well as from other financial liabilities (lease liabilities) of $+€ 0.2$ million.

Financial costs fell by $+€ 2.2$ million from $€(23.0)$ million in the first nine months of fiscal 2023 to $€(20.8)$ million in the first nine months of fiscal 2024. The main effect in the same period of the previous year stemmed from the net currency losses in the amount of $€(14.5)$ million (9M FY2024 net currency gains).

Finance costs additionally contain ongoing interest expenses. The interest expense for financial liabilities of $€(18.2)$ million in the first nine months of fiscal 2024 (9M FY2023: $€(6.8)$ million) relates in particular to the credit facilities, $€(16.7)$ million of which (9M FY2023: $€(4.7)$ million) relates to interest paid. Interest on provisions for pensions and early retirement contracts amounted to $€(1.3)$ million (9M FY2023: $€(1.1)$ million. Losses of $€ 1.6$ million were also incurred as a result of the change in the carrying amount of other financial assets and liabilities.

Income tax income / (expense)

Following an income tax expense of $€(7.2)$ million in the first nine months of fiscal 2023, the Stabilus Group reported an expense of $€(22.8)$ million in the first nine months of fiscal 2024. In the previous year, the income tax expenses were lower due to the amended tax assessments for the years 2010 to 2014 following the conclusion of the appeal proceedings in connection with the application of the restructuring clause. The effective tax rate for the Stabilus Group in the first nine months of fiscal 2024 was $29.5 \%$ (9M FY2023: $8.3 \%$ ).

REVENUE AND EARNINGS DEVELOPMENT BY SEGMENT

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), the Americas (North and South America) and APAC (Asia-Pacific). The following tables show the development of the Stabilus Group's revenue and the adjusted operating result (adjusted EBIT) for the operating segments for the third quarter and the first nine months of fiscal 2024 compared to the third quarter and first nine months of fiscal 2023.

Operating segments
Q3 for the period
from April 1 to June 30,
2024
2023
\% change

EMEA

External revenue ${ }^{11}$
Intersegment revenue ${ }^{11}$
Total revenue ${ }^{11}$
Adjusted EBIT
as \% of total revenue
as \% of external revenue

Americas

External revenue ${ }^{11}$	133.9	109.9	21.8\%
Intersegment revenue ${ }^{11}$	7.4	8.0	$(7.5) \%$
Total revenue ${ }^{11}$	141.3	117.9	19.8\%
Adjusted EBIT	15.0	11.6	29.3\%
as \% of total revenue	$10.6 \%$	$9.8 \%$
as \% of external revenue	$11.2 \%$	$10.6 \%$
APAC
External revenue ${ }^{11}$	75.9	66.7	13.8\%
Intersegment revenue ${ }^{11}$	4.1	0.4	$>100.0 \%$
Total revenue ${ }^{11}$	80.0	67.1	19.2\%
Adjusted EBIT	10.0	11.2	$(10.7) \%$
as \% of total revenue	$12.5 \%$	$16.7 \%$
as \% of external revenue	$13.2 \%$	$16.8 \%$

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

EMEA

External revenue for the EMEA region was $+€ 20.5$ million or $+5.4 \%$ higher in the first nine months of fiscal 2024 than in the first nine months of fiscal 2023 and thus rose from $€ 376.2$ million to $€ 396.7$ million. Adjusted for exchange rate effects of $€(4.0)$ million and acquisition effects (from the DESTACO Group and Cultraro Group) of $+€ 26.2$ million, organic revenue growth amounts to ( $0.5) \%$. The Stabilus Automotive Powerise ${ }^{\circledR}$ business fell by $€(0.8)$ million, or $0.9 \%$, from $€ 86.8$ million to $€ 86.0$ million. Organic revenue growth in the Automotive Powerise ${ }^{\circledR}$ business amounted to $0.0 \%$. Revenue in the Automotive Gas Spring business unit also increased, growing by $+€ 4.9$ million or $+5.4 \%$, from $€ 90.3$ million to $€ 95.2$ million, whereas the organic revenue growth rate for the Automotive Gas Spring business was (2.5) \%. According to S\&P Global Mobility (as of June 2024), passenger car production in the EMEA automotive market increased by $+1.3 \%$ to 15.4 million units produced in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, in contrast with which Germany recorded a decline of (3.0) \%. There is also high inflation, especially in Germany, which is taking a toll on the general economic environment and resulting in widespread consumer restraint. The market landscape continues to be defined by geopolitical uncertainty. Moreover, the German federal government's last-minute decision to scrap the electric vehicle environmental bonus added further uncertainty. Nevertheless, some OEMs have announced that they will cover part of the government share of the purchase price bonus. E-mobility continues to be an important growth driver for the Stabilus Group. Despite these negative factors, the Stabilus automotive business held its own. Industrial business (Industrial Components and Industrial Automation) also enjoyed an upward trajectory in the first nine months of fiscal 2024 compared to the first nine months of fiscal 2023, with its revenue rising by $+€ 16.3$ million, or $+8.2 \%$, from $€ 199.2$ million to $€ 215.5$ million. The significant increase is due to the initial inclusion of the DESTACO Group in the amount of $€ 14.6$ million. By comparison, organic revenue growth in industrial business amounted to $+0.3 \%$. Although the economic conditions that influence Stabilus' Industrial business unit are gradually stabilizing,

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

Operation	9M for the period from October 1 to June 30.
	2024	2023	\% change
EMEA
External revenue ${ }^{1)}$	396.7	376.2	$5.4 \%$
Intersegment revenue ${ }^{1)}$	32.3	27.5	$17.5 \%$
Total revenue ${ }^{1)}$	429.0	403.8	$6.2 \%$
Adjusted EBIT	44.1	41.2	$7.0 \%$
as \% of total revenue	$10.3 \%$	$10.2 \%$
as \% of external revenue	$11.1 \%$	$11.0 \%$
Americas
External revenue ${ }^{1)}$	342.3	333.0	$2.8 \%$
Intersegment revenue ${ }^{1)}$	23.1	24.5	$(5.7) \%$
Total revenue ${ }^{1)}$	365.4	357.6	$2.2 \%$
Adjusted EBIT	31.6	38.5	$(17.4) \%$
as \% of total revenue	$8.7 \%$	$10.8 \%$
as \% of external revenue	$9.3 \%$	$11.6 \%$
APAC
External revenue ${ }^{1)}$	230.6	198.5	$16.2 \%$
Intersegment revenue ${ }^{1)}$	5.7	1.1	$>100.0 \%$
Total revenue ${ }^{1)}$	236.2	199.7	$18.3 \%$
Adjusted EBIT	39.3	35.5	$10.7 \%$
as \% of total revenue	$16.6 \%$	$17.8 \%$
as \% of external revenue	$17.0 \%$	$17.9 \%$

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

$1,000 \%$

energy \& construction and commercial vehicles market segments contracted. The industrial machinery \& automation market segment benefited from the initial inclusion of the DESTACO Group. The business unit's performance shows that the Stabilus Group is benefiting from its broad product range and can more easily offset declines in individual

areas. The adverse effects of higher staff costs due to inflation as well as the geopolitical factors can only be partially passed on in the form of price increases to our customers and only after a delay. The efficiency improvement measures initiated in production have also had an effect after a delay. Adjusted EBIT in the EMEA region improved by $€ 2.9$ million, or $+7.0 \%$, from $€ 41.2$ million in the first nine months of fiscal 2023 to $€ 44.1$ million in the first nine months of fiscal 2024, of which $€ 2.7$ million is derived from the DESTACO acquisition and $+€ 2.5$ million from the Cultraro acquisition. The adjusted EBIT margin saw an increase of +0.1 percentage points, from $11.0 \%$ in the first nine months of fiscal 2023 to $11.1 \%$ in the first nine months of fiscal 2024.

Americas

External revenue for the Americas region was $+€ 9.3$ million or $+2.8 \%$ higher in the first nine months of fiscal 2024 than in the first nine months of fiscal 2023 and thus rose from $€ 333.0$ million to $€ 342.3$ million. Adjusted for exchange rate effects of $€ 0.6$ million and acquisition effects (from the DESTACO Group) of $+€ 26.9$ million, organic revenue growth amounts to (5.5) \%. Automotive Gas Spring business rose slightly by $+€ 0.2$ million, or $+0.2 \%$, from $€ 89.2$ million to $€ 89.4$ million. The organic growth rate in revenue for the Automotive Gas Spring business was (1.2) \%. The Stabilus Automotive Powerise ${ }^{\circledR}$ business, on the other hand, saw a decline of $€(3.4)$ million, or ( $2.7) \%$, from $€ 127.1$ million to $€ 123.7$ million, corresponding to an organic revenue growth rate of (8.2) \%. Strikes at some Stabilus customers in the US in the previous quarters as well as the meanwhile high inventories among automotive OEMs for vehicles produced were a major cause of this. According to S\&P Global Mobility (as of June 2024), the US automotive market recovered slightly by $+1.5 \%$ year-on-year to 13.9 million units produced (9M 2023: 13.7 million units produced). The US economy was confronted in the first half of the 2024 calendar year by a renewed rise in inflation, however, which had an adverse impact on the general market conditions. After recording growth in the 2023 calendar year and generating a corresponding catch-up effect thanks to fewer supply problems and improved availability
of electronic components (semiconductors), the US economy began to lose steam from the fourth quarter of the 2023 calendar year onwards. This weakness will likely stretch far into the second half of the 2024 calendar year. There are a variety of reasons for the downturn: Consumer demand is waning as a result of the substantial increase in interest rates on consumer loans. This is slowing employment and income growth, prompting a decline in consumer spending. In addition, the ongoing trade conflict between the US and China is weighing heavily on procurement markets. Industrial business (Industrial Components and Industrial Automation) also enjoyed an upward trajectory in the first nine months of fiscal 2024 compared to the first nine months of fiscal 2023, with its revenue rising by $+€ 12.5$ million, or $+10.7 \%$, from $€ 116.7$ million to $€ 129.2$ million. The increase is primarily due to the initial inclusion of the DESTACO Group in the amount of $€ 26.9$ million. Organic revenue growth in industrial business amounted to (5.7) \%. Incoming orders in US industrial business flattened off sharply in the first nine months of fiscal 2024 (October 1 to June 30) along with, in some cases, high stock levels; this was accompanied by a decline in revenue in virtually all of the market segments Stabilus operates in. A double-digit decline was reported in the energy \& construction market segment. In addition, the commercial vehicles market segment has been negatively impacted by reduced releases. This was partly offset by an increase in the healthcare, recreation \& furniture market segment. The independent aftermarket, e-commerce market segment is more or less in line with the same period of the previous year. The industrial machinery \& automation market segment benefited from the initial inclusion of the DESTACO Group. The Americas region was similarly rocked by increases in staff costs due to inflation, but these can only be partially offset by price increases passed on to Stabilus customers. Adjusted EBIT in the Americas region fell by $€(6.7)$ million, or (17.4) \%, from $€ 38.5$ million in the first nine months of fiscal 2023 to $€ 31.8$ million in the first nine months of fiscal 2024, of which $+€ 4.9$ million resulted from the DESTACO acquisition. The adjusted EBIT margin saw a decline of (2.3) percentage points, from $11.6 \%$ in the first nine months of fiscal 2023 to $9.3 \%$ in the first nine months of fiscal 2024.

APAC

External revenue in the APAC region was $+€ 32.1$ million or $+16.2 \%$ higher in the first nine months of fiscal 2024 than in the first nine months of fiscal 2023 and thus rose from 198.5 million to $€ 230.6$ million. Adjusted for exchange rate effects of $€(10.9)$ million and acquisition effects (from the DESTACO Group and Cultraro Group) of $+€ 9.0$ million, organic revenue growth amounts to $+17.2 \%$. This strong increase was thanks in particular to the Automotive Powerise ${ }^{\circledR}$ business, which contributed revenue growth of $+€ 17.7$ million, or $+16.6 \%$, from $€ 106.7$ million to $€ 124.4$ million. Organic revenue growth amounted to $+22.3 \%$. The Automotive Gas Spring business also saw a positive trend, growing by $+€ 5.7$ million, or $+7.6 \%$, from $€ 75.3$ million to $€ 81.0$ million. The organic growth rate in revenue for the Automotive Gas Spring business was $+11.3 \%$. The economic development in the APAC region, especially in China, enjoyed strong growth in the first nine months of fiscal 2024 (October 1 to June 30) compared to the same period of the previous year. The Chinese automotive market picked up by about $+11.3 \%$ year-on-year (CAAM-China Association of Automobile Manufacturers). Vehicle production and sales volumes reached new highs and the previously estimated annual targets were exceeded. According to S\&P Global Mobility (as of June 2024), China's passenger car production increased by $+12.2 \%$ compared with the first nine months of fiscal 2023, to 22.1 million units produced in the first nine months of fiscal 2024, while the APAC region saw growth of $+6.0 \%$ to a total of 38.8 million units produced. This is also reflected in the sales figures for the Automotive Powerise ${ }^{\circledR}$ product range and the Automotive Gas Spring business, which have also been bolstered by high sales figures for the door actuator. Revenue growth is also driven by rising demand for electric and hybrid vehicles in the region, including in automotive mass markets. Nevertheless, the market is still affected by one source of uncertainty surrounding general economic developments in the future: whether the Chinese economic recovery will be able to maintain the desired momentum. Industrial business (Industrial Components and Industrial Automation) revenue also enjoyed an upward trajectory in the first nine months of fiscal 2024 compared to the first nine

months of fiscal 2023, rising by $+€ 8.8$ million, or $+53.3 \%$, from $€ 16.5$ million to $€ 25.3$ million. The increase is primarily due to the initial inclusion of the DESTACO Group in the amount of $€ 7.3$ million. Organic revenue growth for industrial business amounts to $+11.1 \%$. The market segments in which Stabilus operates reported increased business. The aerospace, marine \& rail, healthcare, recreation \& furniture, distributors, independent aftermarket, e-commerce, and energy \& construction market segments enjoyed particularly solid growth rates. The industrial machinery \& automation market segment benefited from the initial inclusion of the DESTACO Group. The APAC region was also squeezed by a higher cost base as a result of increases in material prices and staff costs. The region is also subject to increased price pressure on the market. Adjusted EBIT in the APAC region improved by $+€ 3.8$ million, or $+10.7 \%$, from $€ 35.5$ million in the first nine months of fiscal 2023 to $€ 39.3$ million in the first nine months of fiscal 2024, of which $+€ 2.1$ million is derived from the DESTACO acquisition and $+€ 0.2$ million from the Culturaro acquisition. The adjusted EBIT margin saw a decline of ( 0.9 ) percentage points, from $17.9 \%$ in the first nine months of fiscal 2023 to $17.0 \%$ in the first nine months of fiscal 2024.

RECONCILIATION OF ADJUSTED EBIT

The following table shows the reconciliation to adjusted EBIT for the first nine months of fiscal 2024 and the first nine months of fiscal 2023. Adjusted EBIT is EBIT adjusted for non-recurring items (for example, restructuring expenses or non-recurring M\&A consulting expenses) and depreciation/amortization of fair value adjustments from purchase price allocations (PPA). The Stabilus Group reports adjusted EBIT as its management is of the opinion that adjusted EBIT is more meaningful and therefore contributes to a better understanding of the operating performance of the Stabilus Group on the part of users of the financial
statements. Further details of segment reporting can be found in the supplementary financial information on page 34.

The effects of PPAs from previous company acquisitions came to $€ 12.1$ million in the first nine months of fiscal 2024 (9M FY2023: $€ 10.5$ million). This is the straight-line depreciation of the revaluation of assets allocated to fiscal years and shown in the table on the next page. In addition to PPA effects, expenses of $€ 13.4$ million incurred in connection with the acquisition of the DESTACO Group were adjusted for in the first nine months of fiscal 2024. Furthermore, an amount of $€(0.8)$ million from earn-out agreements for prior acquisitions was adjusted for.

Reconciliation of EBIT to adjusted EBIT

	Q3 for the period from April 1 to June 30.
	2024	2023	\% change
Profit from operating activities (EBIT)	39.3	38.4	$2.3 \%$
PPA adjustments - depreciation and amortization	3.9	3.4	$14.7 \%$
Consulting	0.8	-	n/a
Earn-out (purchase price adjustment)	$(0.9)$	0.1	$<(100.0) \%$
Adjusted EBIT	43.1	41.9	$2.9 \%$

Reconciliation of PPA adjustments
Q3 for the period
from April 1 to June 30.

	Q3 for the period from April 1 to June 30.
	2024	2023	\% change
PPA in fiscal 2010	1.2	1.2	$0.0 \%$
PPA in fiscal 2016	2.0	2.0	$0.0 \%$
PPA in fiscal 2019	0.2	0.2	$0.0 \%$
PPA in fiscal 2023	0.5	-	n/a
PPA adjustments	3.9	3.4	$14.7 \%$

	9 M for the period from October 1 to June 30,
	2024	2023	\% change
Profit from operating activities (EBIT)	90.5	104.6	$(13.5) \%$
PPA adjustments - depreciation and amortization	12.1	10.5	$15.2 \%$
Consulting	13.4	-	n/a
Earn-out (purchase price adjustment)	$(0.8)$	0.2	$<(100.0) \%$
Adjusted EBIT	115.2	115.3	$(0.1) \%$
Reconciliation of PPA adjustments			T. 012
	9 M for the period from October 1 to June 30,
\% K MILLIONS	2024	2023	\% change
PPA in fiscal 2010	3.5	3.5	$0.0 \%$
PPA in fiscal 2016	6.0	6.4	$(6.8 \%)$
PPA in fiscal 2019	0.5	0.6	$(6.6) \%$
PPA in fiscal 2023	2.0	-	n/a
PPA adjustments	12.1	10.5	$15.2 \%$

FINANCIAL POSITION OF THE STABILUS GROUP

ANALYSIS OF NET ASSETS
Statement of financial position

No K MILLIONS	June 30, 2024	Sept 30, 2023	\% change
Assets
Non-current assets	1,347.4	734.3	$83.5 \%$
Current assets	623.9	600.1	$4.0 \%$
Total assets	1,971.3	1,334.3	$47.7 \%$
Equity and liabilities
Equity	704.6	712.0	$(1.0) \%$
Non-current liabilities	735.6	395.4	$86.0 \%$
Current liabilities	531.1	226.9	$>100.0 \%$
Total liabilities	1,266.7	622.3	$>100.0 \%$
Total equity and liabilities	1,971.3	1,334.3	$47.7 \%$

Total assets

The Stabilus Group's total assets increased by $+€ 637.0$ million, or $+47.7 \%$, from $€ 1,334.3$ million as of September 30, 2023, to $€ 1,971.3$ million as of June 30, 2024. This resulted primarily from the acquisition and the first-time consolidation of the DESTACO Group as of March 31, 2024. Specifically, this transaction is reflected in the statement of financial position in higher goodwill ( $+€ 569.4$ million). The identification and measurement of the assets and liabilities acquired had not yet been concluded as of June 30, 2024 on account of the complexity of the transaction and the short time between its closing and the end of the reporting period. For this reason, the difference between the consideration and the carrying amount of the net assets acquired has temporarily been allocated in full to the goodwill (please refer to section 2 in the notes under "Business combination" on page 37 of the interim report for the quarter ended March 31, 2024 for further details).

Non-current assets

As of June 30, 2024, the non-current assets of the Stabilus Group increased by $+€ 613.1$ million, or $+83.5 \%$, compared with September 30, 2023, from $€ 734.3$ million to $€ 1,347.4$ million. The increase can primarily be attributed to the business combination with the DESTACO Group. The provisional purchase price allocation (pursuant to IFRS 3.45) resulted in goodwill of $€ 569.4$ million. This figure will be significantly reduced in connection with the purchase price allocation to individual intangible assets (including in the areas of technologies, customers relationships and brands), property, plant and equipment, inventories, and provisions. Moreover, the other non-current assets identified from the acquisition totaling $+€ 2.3$ million have been recognized, as has property, plant and equipment of $€ 16.7$ million and right-of-use assets of $€ 13.3$ million (more detailed information is presented in section 2 in the notes under "Business combination" from the interim
report for the quarter ended March 31, 2024). In addition, non-current assets were affected by amortization on other intangible assets of $€(25.0)$ million - partly as a result of purchase price allocations in previous fiscal years - as well as by depreciation of property, plant and equipment in the amount of $€(33.8)$ million. This was countered by capital expenditure of $+€ 39.0$ million, of which $+€ 4.8$ million related to new leases and $+€ 34.2$ million related to ongoing capacity expansions for projects. Investments in intangible assets totaling $+€ 21.1$ million were capitalized in connection with research and development costs. In total, the Stabilus Group made capital expenditure payments (CAPEX) of $€ 60.1$ million. Noncurrent assets were also influenced by adjustments to carrying amounts due to exchange rate effects.

Current assets

As of June 30, 2024, the current assets of the Stabilus Group rose by $+€ 23.8$ million, or $+4.0 \%$, compared with September 30, 2023, from $€ 600.1$ million to $€ 623.9$ million. Trade receivables increased by $+€ 17.7$ million; $+€ 32.0$ million of these receivables originate from the business combination. Other assets also increased by $+€ 10.1$ million, primarily due to VAT receivables. Inventories rose by $+€ 44.4$ million, with $+€ 46.2$ million of these originating from the business combination. The increase was partially offset by a lower level of cash and cash equivalents, which fell by $€(53.7)$ million to $€ 139.4$ million. This resulted primarily from the acquisition of and business combination with the DESTACO Group, which was partly paid for in cash. Furthermore, the level of cash and cash equivalents was influenced by the dividend of $€ 43.23$ million paid to the Stabilus shareholders in February 2024.

Equity

The equity of the Stabilus Group decreased by $€(7.4)$ million, or (1.0) \%, from $€ 712.0$ million as of September 30, 2023 to $€ 704.6$ million as of June 30, 2024. This decline can essentially be attributed to the dividend payment to our shareholders of $€(43.23)$ million in the second half of fiscal 2024. At $+€ 54.5$ million, profit for the first nine months of fiscal 2024 partially offset this. The other reserves (accumulated other comprehensive income) increased by $€(16.9)$ million, from $€(4.4)$ million to $€(21.4)$ million as a result of unrealized losses from foreign currency translation of $€(13.8)$ million, unrealized actuarial losses from pensions (after tax) of $€(2.8)$ million, and the remeasurement in equity of derivatives acquired for hedging purposes, which changed by $€(0.3)$ million.

Non-current liabilities

The non-current liabilities of the Stabilus Group increased by $+€ 340.2$ million, or $+86.0 \%$, from $€ 395.4$ million as of September 30, 2023 to $€ 735.6$ million as of June 30, 2024. This is essentially the result of the drawdown of $€ 322.0$ million from the revolving credit facility, which was utilized in order to finance the business combination with the DESTACO Group. Pension obligations rose by $+€ 8.6$ million due to changes in actuarial assumptions, of which $+€ 4.5$ million were taken over in pension plans and comparable obligations in connection with the business combination. Other financial liabilities increased by $+€ 11.7$ million; $+€ 8.3$ million of this originates from the takeover of lease liabilities from the business combination, while $+€ 1.9$ million results from the remeasurement of the minority shareholder's put option relating to shares in the Cultraro Group that are not controlled by Stabilus. Deferred tax liabilities had an offsetting effect of $€(1.4)$ million, essentially the result of straight-line amortization on purchase price allocations recognized in previous fiscal years.

Current liabilities

The current liabilities of the Stabilus Group rose by $+€ 304.2$ million, from $€ 226.9$ million as of September 30, 2023 to $€ 531.1$ million as of June 30, 2024. Current liabilities were influenced by multiple circumstances. Financial liabilities rose by $+€ 263.4$ million, primarily as a result of the drawdown of the bridge financing to finance the business combination. Trade payables increased in the course of the business activities by $+€ 25.3$ million and additionally by $+€ 23.9$ million in conjunction with the first-time consolidation of the DESTACO Group. Other financial liabilities increased by $+€ 1.7$ million, essentially a result of the recently concluded lease agreements. Other liabilities increased by $+€ 15.0$ million; $+€ 7.6$ million of this originated from the business combination. Provisions also increased by $+€ 1.3$ million. Provisions totaling $+€ 3.4$ million were taken over in the course of the business combination with the DESTACO Group, where these essentially involve other provisions for personnel expenses of $€ 2.0$ million, other risks of $€ 0.8$ million, and provisions for purchase commitments of $€ 0.4$ million. The decline mainly relates to provisions for personnel expenses, which decreased by $€(3.0)$ million. Income tax liabilities decreased by $€(2.6)$ million.

ANALYSIS OF THE FINANCIAL POSITION

Cash flow from operating activities

Cash flow from operating activities changed by $€(15.6)$ million, or (11.3) \% in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, falling from $€ 137.9$ million to $€ 122.3$ million. This decline is essentially due to the change in working capital. Higher income tax payments of $€(18.9)$ million also had an impact. In the same period of the previous year, an amount of $€ 12.1$ million was received in cash in connection with the restructuring clause as a one-off effect.

Cash flow from investing activities

Cash flow from investing activities changed by $€(650.3)$ million in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, falling from $€(45.1)$ million to $€(695.4)$ million which can largely be attributed to the acquisition of the DESTACO Group. In addition, purchases of intangible assets rose by $+€ 4.9$ million and capital expenditure for property, plant and equipment increased by $+€ 9.7$ million compared with the same period in the previous year.

Cash flows

	9M for the period from October 1 to June 30,
N V MILLIONS	2024	$\mathbf{2 0 2 3}$	$\%$ change
Cash flow from operating activities	122.3	137.9	$(11.3) \%$
Cash flow from investing activities	$(695.4)$	$(45.1)$	$>100.0 \%$
Cash flow from financing activities	521.4	$(55.2)$	$>(100.0) \%$
Net increase/(decrease) in cash	$(51.7)$	$\mathbf{3 7 . 6}$	$>(100.0) \%$
Effect of movements in exchange rates on cash held	$(2.1)$	$(7.7)$	$(72.7) \%$
Cash and cash equivalents as of beginning of the period	193.1	168.4	$14.7 \%$
Cash and cash equivalents as of end of the period	139.4	$\mathbf{1 9 8 . 3}$	$(29.7) \%$

Cash flow from financing activities

Cash flow from financing activities changed by $+€ 576.3$ million in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, from $€(55.2)$ million to $+€ 521.4$ million. This is primarily due to the cash inflow from the available credit facilities totaling $€ 590.8$ million, all of which was used to pay the purchase price for the DESTACO Group. Excluding the cash inflow from the credit facilities granted, cash flow from financing activities changed by $€(2.5)$ million, from $€(55.2)$ million to $€(57.7)$ million. This can be attributed, on the one hand, to the year-onyear increase in interest payments ( $+€ 11.9$ million) for financial liabilities on account of the higher market interest rates (Euribor) and, on the other, to the payment for the acquisition of non-controlling shares ( $20 \%$ ) in New Clevers S.A., Argentina, in the amount of $€ 1.4$ million.

RECONCILIATION OF FREE CASH FLOW, ADJUSTED FREE CASH FLOW AND NET LEVERAGE RATIO

Free cash flow

Free cash flow is defined as the total of cash flows from operating activities and cash flows from investing activities. Management reports free cash flow, as this alternative performance measure aids in assessing the ability of the Stabilus Group to generate cash flows that can be used for further investment or distributions. Free cash flow changed significantly in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, totaling $€(573.1)$ million ( 9 M FY2023: $+€ 92.8$ million). The free cash flow has been significantly affected by the acquisition of the DESTACO Group and the resulting cash outflow. The payments from investing activities that are not related to acquisitions increased by $€(14.6)$ million in the first nine months of fiscal 2024 set against the same period in the previous year. The calculation of the free cash flow for the first nine months of fiscal 2024 and for the first nine months of fiscal 2023 is shown in the following table.

Adjusted free cash flow

Adjusted free cash flow is defined as the total of cash flows from operating activities and cash flows from investing activities before acquisitions, divestments and factors considered in EBIT adjustment (e.g. restructuring costs or non-recurring M\&A consulting costs). Management reports adjusted free cash flow because this alternative performance measure aids in assessing the ability of the Stabilus Group to generate cash flows from organic growth (i.e. disregarding acquisitions and divestments). Adjusted free cash flow changed by $€(15.3)$ million in the first nine months of fiscal 2024 compared with the first nine months of fiscal 2023, from
$+€ 93.1$ million to $+€ 77.8$ million, primarily due to the one-off effect of the cash received from a tax refund in the previous year (restructuring clause). The adjustment of $€ 14.2$ million in the first nine months of fiscal 2024 relates to the consulting costs paid in connection with the DESTACO acquisition and to bioremediation (EPA Colmar). The adjustment
in the previous year relates to the last subsequent purchase price payment to Piston from the share purchase ( $53 \%$ ) in fiscal 2019. The calculation of the adjusted free cash flow for the first nine months of fiscal 2024 and for the first nine months of fiscal 2023 is shown in the table below.

Free cash flow
T. 015

	9 M for the period from October 1 to June 30,
	2024	2023	\% change
Cash flow from operating activities	122.3	137.9	$(11.3) \%$
Cash flow from investing activities	(695.4)	(45.1)	$>100.0 \%$
Free cash flow	(573.1)	92.8	$>(100.0) \%$
Adjusted free cash flow			T. 016
	9 M for the period from October 1 to June 30,
	2024	2023	\% change
Cash flow from operating activities	122.3	137.9	$(11.3) \%$
Cash flow from investing activities	(695.4)	(45.1)	$>100.0 \%$
Free cash flow	(573.1)	92.8	$>(100.0) \%$
Acquisition of assets and liabilities within the business combination, net of cash acquired	636.7	0.3	$>100.0 \%$
Consulting	14.0	-	n/a
Bioremediation	0.2	-	n/a
Adjusted free cash flow	77.8	93.1	$(16.4) \%$

Net leverage ratio

The net leverage ratio is defined as net financial debt divided by adjusted EBITDA for the last twelve months (LTM). Net financial debt is the nominal amount of financial liabilities, 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 extraordinary non-recurring items (e.g. restructuring expenses or non-recurring M\&A consulting expenses). Management reports the net leverage ratio, as this alternative performance measure is a useful indicator for assessing the debt and financing structure of the Stabilus Group. The net leverage ratio rose from $0.5 x$ in the first nine months of fiscal 2023 to $2.8 x$ in the first nine months of fiscal 2024 (September 30, 2023: 0.3x). This is mainly due to the acquisition of the DESTACO Group, which was acquired using credit facilities that have been granted and equity. The earnings of the DESTACO Group from July 1, 2023 to March 31, 2024 were included on a pro forma basis in the EBITDA LTM (last twelve months) calculation. The calculation of the net leverage ratio for the first nine months of fiscal 2024 and for the first nine months of fiscal 2023 is shown in the table below.

Net leverage ratio
9M as of June 30,
9M as of June 30,
9M as of June 30,
9M as of June 30,
9M as of June 30,
9M as of June 30,
9M as of June 30,

2024	2023	\% change
Financial debt	842.6	255.2
Cash and cash equivalents	$(139.4)$	$(198.3)$
Net financial debt	703.2	56.9
Adjusted EBITDA (LTM, June 30)	248.0	220.6
Net leverage ratio ${ }^{1)}$	2.84	0.3 x

${ }^{1)}$ The net leverage ratio is defined as net financial debt divided by adjusted EBITDA for the last 12 months (LTM).

Financial debt
9M as of June 30,
9M as of June 30,
9M as of June 30,
9M as of June 30,

2024	2023	\% change
Financial liabilities (non-current)	572.3	253.5
Financial liabilities (current)	270.4	1.7
Financial debt	842.6	255.2

Adjusted EBITDA (LTM, June 30)
T. 019

	9M as of June 30,
06 e MILIONS	2024	2023	\% change
Profit from operating activities (EBIT) ${ }^{1)}$	149.3	150.7	$(1.0) \%$
Depreciation	44.6	39.4	$13.1 \%$
Amortization	18.9	16.4	$15.2 \%$
PPA adjustments - depreciation and amortization	15.5	14.0	$10.6 \%$
EBITDA ${ }^{1)}$	228.2	220.4	$3.6 \%$
Consulting	17.2	-	n/a
Bioremediation	2.6	-	n/a
Purchase price allocation (PPA) adjustments - Increase in inventories	0.5	-	n/a
Earn-out (purchase price adjustment)	$(0.5)$	0.2	$<(100.0) \%$
Adjusted EBITDA ${ }^{1)}$	248.0	220.6	$12.4 \%$

Including DESTACO Group and Culturo Group pro rata.

REPORT ON RISKS AND OPPORTUNITIES

Please refer to page 55 onwards in the annual report of September 30, 2023 for information on the risk management system and the overall assessment of the risks and opportunities of the Stabilus Group.

In the reporting period (October 1, 2023 to June 30, 2024), there have been changes in the second quarter in the assessments made in the 2023 annual report concerning the risks of currency and interest rate risks. These aspects have thus been amended. The Stabilus Group currently assesses the development of currency risks as "low" (risk class) with a probability of occurrence of "possible" (2023 annual report: "high" and "very probable"). With regard to interest rate risks due to the increased debt as a result of the acquisition, the risk assessment has changed to "high" (risk class) with an unchanged probability of occurrence of "probable" (2023 annual report: risk class "medium" and probability of occurrence "probable").

Risks and opportunities in connection with the acquisition of the DESTACO Group

As described in the annual report for fiscal 2023, Stabilus set up a project in preparation for the anticipated closing of the acquisition of the DESTACO Group, in which the integration process for all work areas is carefully planned and organized to ensure that the transaction can be completed smoothly once all the official permits are in place. Identifying both opportunities and risks is a very high priority so that they can be managed at as early a stage as possible and appropriate countermeasures can be initiated in line with our risk management approaches. The integration process was started after the transaction was closed on March 31, 2024. Please refer to the disclosures made on page 27 in the interim report of March 31, 2024.

Overall assessment of risks and opportunities

The Management Board does not anticipate any individual or aggregate risk that could endanger the future of Stabilus SE or the Stabilus Group as a going concern in a material way. The Stabilus Group's internal capital adequacy is linked firstly to the Group's financial covenants (net leverage ratio) and thereby liquidity monitoring. Non-financial risks are not part of the quantitative assessment, but are analyzed qualitatively. Financially assessed risks are quantified using the criteria of probability of occurrence and economic impact in the event of occurrence. The risks are aggregated using a Monte Carlo simulation as a scenario simulation method based on the net risks identified. The liquidity bottleneck is determined mathematically by the maximum loss that does not result in this covenant being breached. The net leverage ratio is defined as net financial debt divided by adjusted EBITDA for the last twelve months (LTM). Secondly, internal capital adequacy is used as a benchmark in the form of the "equity" indicator (Stabilus' equity including non-controlling interests). The risks are therefore presented once according to their financial impact, based on the expected value, and measured against the available liquidity. Moreover, the total impact of all (cash and non-cash) risks is compared with equity. A holistic risk analysis is ensured with this two-pillar principle.

The aggregated total risk level had no material impact on the risk-bearing capacity in the first nine months of fiscal 2024.

REPORT ON EXPECTED DEVELOPMENTS

GENERAL ECONOMIC OUTLOOK

The overall economic outlook for the global economy in fiscal 2024 (Stabilus fiscal year October 1, 2023 to September 30, 2024) is considered volatile in view of various uncertainties and geopolitical risks arising from current developments. The declining inflationary momentum and foreseeable key interest rate cuts as well as the ECB's key interest rate cut in June 2024 will be accompanied by moderate economic growth in the current year. Nevertheless, the economic outlook remains subject to significant downside risks - the current geopolitical crises in particular harbor high risks to economic growth and inflation. Overall, the latest economic indicators show no sign of a significant recovery in the coming months. The economic trend is therefore not expected to improve until 2025. However, a further tightening or a delayed loosening of monetary policy and the associated high interest rates could also influence the development of the world economy.

The macroeconomic challenges are reflected in the forecast published by the International Monetary Fund (World Economic Outlook - July 2024). In light of the forecast, an increase in global gross domestic product of $+3.2 \%$ is expected for the 2024 calendar year. Within the European Union, very low growth of $+1.2 \%$ is forecast for the euro area, while even lower growth of just $+0.2 \%$ is expected for Germany. Within the Americas region, growth of $+2.6 \%$ is assumed for the United States with Central and South America expected to grow by $+1.9 \%$ (Brazil: $+2.1 \%$; Mexico: $+2.2 \%$ ). Significantly higher growth rates are projected in the APAC region. For instance, gross domestic product of $+5.0 \%$ is expected for Stabilus' core market of China.

The latest OECD forecast issued in May 2024 likewise anticipates only a muted recovery in global economic activity. The world economy is accordingly likely to grow by $+3.1 \%$ in the 2024 calendar year and by $+3.2 \%$ in the 2025 calendar year.

Latest growth projections for selected national economies

\% YEAR-ON-YEAR CHANGE IN THE CALENDAR YEAR	$2024 *$	2025*
World	$3.2 \%$	$3.3 \%$
European Union	$1.2 \%$	$1.8 \%$
thereof euro area	0.9\%	$1.5 \%$
thereof Germany	$0.2 \%$	$1.3 \%$
United Kingdom	$0.7 \%$	$1.5 \%$
United States	$2.6 \%$	$1.9 \%$
Latin America	$1.9 \%$	$2.7 \%$
thereof Brazil	$2.1 \%$	$2.4 \%$
thereof Mexico	$2.2 \%$	$1.6 \%$
Emerging and Developing Asia	$5.4 \%$	$5.1 \%$
thereof China	$5.0 \%$	$4.5 \%$

Source: International Monetary Fund, World Economic Outlook, July 2024.

• Projections.

Production of light vehicles*

2024*	2025**	2026**	2027**	2028**	2029**
EMEA	19.7	19.6	19.8	20.6	20.7
thereof Germany	4.2	4.4	4.5	4.7	4.6
Americas	18.6	19.1	19.7	19.8	20.2
thereof United States	10.5	10.6	10.5	10.6	10.7
APAC	51.5	53.4	53.3	54.6	55.2
thereof China	29.2	30.9	31.0	32.1	32.3
Worldwide production of light vehicles*	89.8	92.1	92.8	95.0	96.1

Source: S\&P Global Mobility/Light Vehicle Production Forecast (June 2024).

• Passenger and light commercial vehicles (v 6I).
  ** S\&P Global Mobility Forecast, June 2024.

Further interest rate developments at the ECB and the Fed will be a key factor here. The ECB left the key interest rate unchanged in the euro area in October 2023 after ten consecutive increases. In June 2024, the ECB reduced the key interest rate by 0.25 percentage points to $4.25 \%$. The Fed
left its rate unchanged again - at its highest level in 22 years - in June 2024. Further changes to rates by the ECB and the Fed cannot be ruled out.

The Stabilus Group counters all these expenses with ongoing process optimizations in order to compensate as far as possible for the forecast cost increase through efficiency programs.

FORECAST INDUSTRY DEVELOPMENT

Forecast development in the automotive industry

Based on the S\&P Global Mobility forecasts for the automotive sector (June 2024), the Stabilus Group is anticipating growth in global automotive production of around $+1.8 \%$, to approximately 89.8 million units, in fiscal 2024. According to S\&P Global Mobility, the Americas and APAC regions will produce more vehicles in fiscal 2024 than in fiscal 2023. Production figures in the EMEA region are expected to be lower. The APAC region is expected to take the lead, producing +1.6 million more vehicles, followed by the Americas ( +0.2 million). The EMEA region is expected to produce ( 0.2 ) million fewer vehicles than in fiscal 2023.

Forecast development in the industrial sector

Sustained geopolitical tension and the resulting uncertainty affecting the international markets will continue to shape the development of the industrial sector. In addition to the structural challenges (e.g. the geopolitical turning point) in conjunction with pronounced global economic weakness and the increasingly perceptible effects of a more restrictive monetary policy (e.g. changing interest rates), companies are also facing waning demand. The supply problems in the industrial sector that had an impact in the previous year eased in fiscal 2024 and supply chains are now functioning. However, the industrial sector now has, in some cases, high levels of inventory, which can entail risks when economic growth flattens out.

Forecast development on the procurement markets

Compared with the previous year, the situation on the procurement markets for raw materials and intermediate products has improved as supply bottlenecks ease. This slow process of change will affect procurement prices for the Stabilus Group. The procurement prices for the key individual raw materials and components used by Stabilus will take some time to come down. By its own estimate, the Stabilus Group forecasts that the price of direct materials such as plastics, metals and steel will decline slightly in the fourth quarter of fiscal 2024. Prices on the energy market have settled as a result of government intervention, especially in Germany.

FORECAST DEVELOPMENT OF THE STABILUS GROUP

In view of the results achieved in the first nine months of fiscal 2024 and the subdued expectations for global automotive and industrial production for the remaining three months of the fiscal year, the Management Board has revised its forecast for the year. Lower release quantities in the automotive segment and in the commercial vehicles market segment are the reason behind this downturn. Based on the above-mentioned effects, the Management Board currently estimates that the anticipated recovery in the remaining months of fiscal 2024 for Stabilus (September 30, 2024) will not materialize. The Management Board now expects revenue in the range of $€ 1.3$ billion to $€ 1.35$ billion and an adjusted EBIT margin in the range of $11.7 \%$ to $12.3 \%$.

SUBSEQUENT EVENTS

As of July 24, 2024, there were no events or developments that could have materially affected the measurement and presentation of the Group's assets and liabilities as of June 30, 2024.

Koblenz, July 24, 2024
Stabilus SE
The Management Board

Dr. Michael Büchsner

Stefan Bauerreis

SUPPLEMENTARY FINANCIAL INFORMATION

as of and for the three months and nine months ended June 30, 2024

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Consolidated statement of comprehensive income
Q3 for the period from April 1 to June 30,

3024	2023	9M for the period from October 1 to June 30,
350,674	306,493	969,593	907,776
Cost of sales	(256,263)	(226,168)	(717,793)
Gross profit	94,411	80,325	251,800
Research and development expenses	(9,148)	(7,810)	(25,958)
Selling expenses	(31,399)	(24,092)	(85,877)
Administrative expenses	(18,780)	(10,378)	(57,634)
Other income	4,309	1,135	9,108
Other expenses	(94)	(881)	(975)
Net result from equity-accounted investments		68	413
Profit from operating activities (EBIT)	39,299	38,367	90,464
Finance income	5,622	932	7,601
Finance costs	(11,896)	(6,145)	(20,776)
Profit/(loss) before income tax	33,025	33,154	77,289
Income tax income/(expense)	(8,738)	(11,455)	(22,787)
Profit/(loss) for the period	24,287	21,699	54,502
thereof attributable to non-controlling interests	398	346	1,508
thereof attributable to shareholders of Stabilus	23,889	21,353	52,994
Other comprehensive income/(expense)
Foreign currency translation differences	(12,520)	(1,681)	(13,814)
Hedge of cash flows from financial instruments	217	579	(335)
Items that can be reclassified to consolidated profit or loss in future periods	(12,303)	(1,102)	(14,149)
Unrealized actuarial gains and losses	35	(817)	(2,794)
Items not to be reclassified to consolidated profit or loss in future periods	35	(817)	(2,794)
Other comprehensive income/(expense), net of taxes	(12,268)	(1,919)	(16,943)
Total comprehensive income for the period	12,019	19,780	37,559
thereof attributable to non-controlling interests	386	(960)	709
thereof attributable to shareholders of Stabilus	11,633	20,340	36,850
Earnings per share (in €):
basic (EPS)	0.97	0.86	2.15
diluted (DEPS)	0.97	0.86	2.15

SABILUS QUARTERLY STATEMENT Q3 FY2024

9M for the period from October 1 to June 30,

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as of June 30, 2024
Consolidated statement of financial position
T. 023

IN E THOUSANDS	June 30, 2024	Sept 30, 2023
Assets
Property, plant and equipment	284,440	247,151
Goodwill	808,198	236,621
Other intangible assets	226,620	229,962
Investments in entities accounted for using the equity method and other investments	6,000	6,000
Other financial assets	340	455
Other assets	1,845	664
Deferred tax assets	19,945	13,402
Total non-current assets	1,347,388	734,255
Inventories	221,704	177,255
Trade and other receivables	215,673	197,989
Income tax receivables	13,855	8,915
Other financial assets	1,096	601
Other assets	32,256	22,191
Cash and cash equivalents	139,352	193,099
Total current assets	623,936	600,050
Total assets	1,971,324	1,334,305

Consolidated statement of financial position
IN E THOUSANDS
In 8THOUSANDS
In the 30, 2024
24,700
201,395
201,395
201,395
466,885
458,285
(16,793)
(650)
Equity attributable to shareholders of Stabilus
Non-controlling interests
Total equity
Financial liabilities
Other financial liabilities
Provisions
Other liabilities
Total current liabilities
Total equity and liabilities
Total equity and liabilities
1,923

June 30, 2024	Sept 30, 2023
Equity and liabilities
Issued capital	24,700
Capital reserves	201,395
Retained earnings	466,885
Other reserves	$(16,793)$
Equity attributable to shareholders of Stabilus	676,187
Non-controlling interests	28,446
Total equity	704,633
Financial liabilities	572,277
Other financial liabilities	58,483
Provisions	15,318
Pension plans and similar obligations	46,304
Deferred tax liabilities	43,205
Total non-current liabilities	735,587
Trade accounts payable	149,614
Financial liabilities	270,354
Other financial liabilities	9,631
Income tax liabilities	17,469
Provisions	32,703
Other liabilities	51,333
Total current liabilities	531,104
Total liabilities	1,266,691
Total equity and liabilities	1,971,324

Sept 30, 2023
201,395
458,285
676,187
28,446
712,001
251,077
46,806
15,245
37,669
44,579
395,376
124,291
6,920
7,975
20,069
31,371
36,302
226,928
622,304
1,334,305

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the first nine months ended June 30, 2024
Consolidated statement of changes in equity
T. 624

IN E THOUSANDS	Issued capital	Capital reserves	Retained earnings	Other reserves	Equity attributable to shareholders of Stabilus	Non-controlling interests	Total equity
Balance as of Sept 30, 2022	24,700	201,395	421,129	18,301	665,525	4,165	669,690
Profit / (loss) for the period	-	-	78,777	-	78,777	1,039	79,816
Other comprehensive income / (expense)	-	-	-	(27,057)	(27,057)	270	$(26,787)$
Total comprehensive income for the period	-	-	78,777	(27,057)	51,720	1,309	53,029
Dividends	-	-	(43,225)	-	(43,225)	(235)	(43,460)
As of June 30, 2023	24,700	201,395	456,681	$(8,756)$	674,020	5,239	679,259
Balance as of Sept 30, 2023	24,700	201,395	458,285	(650)	683,730	28,271	712,001
Profit / (loss) for the period	-	-	52,994	-	52,994	1,508	54,502
Other comprehensive income / (expense)	-	-	-	(16,144)	(16,144)	(800)	(16,944)
Total comprehensive income for the period	-	-	52,994	(16,144)	36,850	708	37,558
Dividends	-	-	(43,225)	-	(43,225)	(259)	(43,484)
Change in ownership interest in subsidiaries without a change of control	-	-	$(1,168)$	-	$(1,168)$	(274)	$(1,442)$
As of June 30, 2024	24,700	201,395	466,885	(16,793)	676,187	28,446	704,633

CONSOLIDATED STATEMENT OF CASH FLOWS

for the period from October 1 to June 30

Consolidated statement of cash flows
	9M for the period from October 1 to June 30.
IN K THOUSANDS	2024	2023
Profit / (loss) for the period	54,502	79,816
Income tax income / (expense)	22,787	7,201
Net financial result	13,175	17,541
Interest received	3,590	5,416
Net result from equity-accounted investments	-	(413)
Dividends received	-	410
Depreciation and amortization (incl. impairment losses)	58,772	51,752
Gains / losses from the disposal of assets	(257)	30
Changes in inventories	1,743	$(1,488)$
Changes in trade and other receivables	14,293	18,020
Changes in trade payables	1,396	$(5,441)$
Changes in other assets and liabilities	$(11,688)$	$(9,166)$
Changes in provisions	$(2,010)$	$(10,640)$
Income tax payments	$(34,025)$	$(15,168)$
Cash flow from operating activities	122,279	137,870
Proceeds from disposal of property, plant and equipment	1,471	757
Purchase of intangible assets	$(21,124)$	$(16,229)$
Purchase of property, plant and equipment	$(39,007)$	$(29,340)$
Losses from currency hedging in connection with a business combination	$(4,805)$	-
Acquisition of assets and liabilities within the business combination, net of cash acquired	$(631,922)$	$(253)$
Cash flow from investing activities	$(695,388)$	$(45,065)$

Consolidated statement of cash flows
9M for the period
from October 1 to June 30.

IN K THOUSANDS	2024	2023
Receipts under credit facility	46,030	-
Receipts under bridge financing	250,000	-
Receipts under revolving credit facility	294,750	-
Payments for redemption of financial liabilities	(953)	$(1,277)$
Payment for the acquisition of non-controlling interests	$(1,442)$	-
Payments for lease liabilities	$(6,803)$	$(5,800)$
Dividends paid	$(43,225)$	$(43,225)$
Dividends paid to non-controlling interests	(259)	(235)
Payments for interest	$(16,655)$	$(4,682)$
Cash flow from financing activities	521,443	$(55,219)$
Net increase / (decrease) in cash and cash equivalents	$(51,666)$	37,586
Effect of movements in exchange rates on cash held	$(2,081)$	$(7,664)$
Cash and cash equivalents as of beginning of the period	193,099	168,352
Cash and cash equivalents as of end of the period	139,352	198,274

SEGMENT REPORTING

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), the Americas (North and South America) and APAC (Asia-Pacific). Based on Stabilus' guiding strategy of "in the region, for the region", we have established our locations near the Group's customers and have continuously expanded this approach in recent years. The segment reporting structure is based on management reporting.

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 allocation (PPA).

Segment information for the first nine months ended June 30, 2024 and June 30, 2023 is as follows:

Segment reporting						T. 826
	EMEA		Americas		APAC
	9M for the period from October 1 to June 30,		9M for the period from October 1 to June 30,		9M for the period from October 1 to June 30,
III E THOUSANDS	2024	2023	2024	2023	2024	2023
External revenue ${ }^{1)}$	396,727	376,212	342,282	333,027	230,584	198,537
Intersegment revenue ${ }^{1)}$	32,251	27,545	23,093	24,546	5,652	1,123
Total revenue ${ }^{1)}$	428,978	403,757	365,375	357,573	236,236	199,660
Depreciation and amortization (incl. impairment losses)	$(31,830)$	$(25,664)$	$(14,095)$	$(13,233)$	$(9,354)$	$(9,362)$
EBIT	26,398	36,776	28,666	35,889	38,893	35,386
Adjusted EBIT	44,078	41,245	31,839	38,520	39,310	35,500
Adjusted EBIT margin as \% of external revenue	$11.1 \%$	$11.0 \%$	$9.3 \%$	$11.6 \%$	$17.0 \%$	$17.9 \%$

	Segment total		Other/consolidation		Stabilus Group
	9M for the period from October 1 to June 30,		9M for the period from October 1 to June 30,		9M for the period from October 1 to June 30,
III E THOUSANDS	2024	2023	2024	2023	2024	2023
External revenue ${ }^{1)}$	969,593	907,776	-	-	969,593	907,776
Intersegment revenue ${ }^{1)}$	60,996	53,214	$(60,996)$	$(53,214)$	-	-
Total revenue ${ }^{1)}$	1,030,589	960,990	$(60,996)$	$(53,214)$	969,593	907,776
Depreciation and amortization (incl. impairment losses)	$(55,279)$	$(48,259)$	$(3,493)$	$(3,493)$	$(58,772)$	$(51,752)$
EBIT	93,957	108,051	$(3,493)$	$(3,493)$	90,464	104,558
Adjusted EBIT	115,227	115,265	-	-	115,227	115,265
Adjusted EBIT margin as \% of external revenue	$11.9 \%$	$12.7 \%$	-	-	$11.9 \%$	$12.7 \%$

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

FINANCIAL CALENDAR

Financial calendar

DATE $^{\text {T }}$	PUBLICATION/EXEPT
November 11, 2024	Publication of provisional annual results for FY2024
December 9, 2024	Publication of 2024 Annual Report

${ }^{a}$ We cannot rule out changes of dates. We recommend looking at the information in the Investor Relations/Financial Calendar section of our website (e-stabilus.com/investor-relations/financial-calendar).
${ }^{\text {b }}$ Please note that our fiscal year (FY) ends in September (e. g. FY2024 comprises a twelve-month period from October 1, 2023 to September 30, 2024).

DISCLAIMER

This quarterly statement is published in German and English. The German version takes precedence in case of doubt.

Forward-looking statements

This quarterly statement contains forward-looking statements relating to Stabilus SE management's current plans, targets, forecasts and estimates. These statements account only for information available up to and including the date on which this quarterly statement was prepared. Stabilus SE management does not guarantee that these forward-looking statements will prove correct. The future performance of Stabilus SE and its subsidiaries and the results actually achieved are subject to a number of risks and uncertainties that could cause actual events or results to deviate from the forward-looking statements.

Many of these factors are beyond the control of Stabilus SE and its subsidiaries and so cannot be predicted accurately. These factors include changes in economic circumstances and the competitive situation, changes in the law, fluctuations in interest or exchange rates, legal disputes and investigations and the availability of funding. These and other risks and uncertainties are discussed in this quarterly statement. Other factors can also have a negative impact on our performance and results.

Stabilus SE does not intend, nor is it separately obliged, to update or amend forward-looking statements to reflect events or developments that occur after this quarterly statement is published.

Rounding

Certain figures in this quarterly statement have been rounded up or down. This can result in discrepancies between the actual amounts of individual amounts in tables and the total amounts reported, as well as between figures in tables and figures in in-text analysis sections of this quarterly statement. All percentage changes and key figures in this quarterly statement were calculated using the underlying data in millions of euro (€ millions) to one decimal place.

QUARTERLY OVERVIEW

Quarterly overview ${ }^{\text {1) }}$

IN K MILLIONS	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue	350.7	313.5	305.4	307.5	306.5	310.6	290.7
EBIT	39.3	30.9	20.3	32.5	38.4	37.1	29.1
Adjusted EBIT	43.1	38.9	33.3	43.2	41.9	40.8	32.6
Profit/(loss) for the period	24.3	18.1	12.2	23.5	21.7	42.6	15.5
Capital expenditure (capex)	(23.4)	(19.3)	(17.4)	(28.2)	(22.1)	(10.5)	(12.9)
Free cash flow (FCF)	28.9	(634.4)	32.4	3.9	48.3	12.1	32.4
Adjusted free cash flow	37.9	3.7	36.2	14.2	48.3	12.1	32.7
EBIT margin as \% of revenue	$11.2 \%$	$9.9 \%$	$6.6 \%$	$10.6 \%$	$12.5 \%$	$11.9 \%$	$10.0 \%$
Adjusted EBIT margin as \% of revenue	$12.3 \%$	$12.4 \%$	$10.9 \%$	$14.0 \%$	$13.7 \%$	$13.1 \%$	$11.2 \%$
Profit/(loss) for the period as \% of revenue	$6.9 \%$	$5.8 \%$	$4.0 \%$	$7.6 \%$	$7.1 \%$	$13.7 \%$	$5.3 \%$
Capital expenditure (capex) as \% of revenue	$6.7 \%$	$6.2 \%$	$5.7 \%$	$9.2 \%$	$7.2 \%$	$3.4 \%$	$4.4 \%$
FCF as \% of revenue	$8.2 \%$	(202.4) $\%$	$10.6 \%$	$1.3 \%$	$15.8 \%$	$3.9 \%$	$11.1 \%$
Adjusted FCF as \% of revenue	$10.8 \%$	$1.2 \%$	$11.9 \%$	$4.6 \%$	$15.8 \%$	$3.9 \%$	$11.2 \%$
Net leverage ratio	2.8 e	2.8 e	0.2 e	0.3 e	0.3 e	0.5 e	0.3 e
Employees $^{2)}$	7,987	8,173	7,450	7,426	7,091	7,110	6,992
Total assets ${ }^{3)}$	1,971.3	1,956.4	1,343.7	1,334.3	1,256.2	1,227.4	1,235.1
Equity ${ }^{3)}$	704.6	692.6	695.9	712.0	679.3	659.5	657.4
Equity ratio ${ }^{4)}$	$35.7 \%$	$35.4 \%$	$51.8 \%$	$53.4 \%$	$54.1 \%$	$53.7 \%$	$53.2 \%$

${ }^{1)}$ The sum totals of quarterly figures may deviate slightly from the figures for the year as a whole due to rounding.
${ }^{2)}$ Active and inactive employees excluding contract workers, apprentices, trainees and graduates.
${ }^{3}$ Figures at the end of the quarter.

ADDITIONAL INFORMATION

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

INVESTOR RELATIONS

Phone: +49 261 8900-8198
E-mail: $\quad$ investors@stabilus.com

STABILUS