Stabilus SE — Investor Presentation 2025

Aug 4, 2025

Q3 FY2025 RESULTS

ANALYST & INVESTOR WEB CONFERENCE AUGUST 4, 2025

Stabilus SE (the "Company", later "Stabilus") has prepared this presentation solely for your information. It should not be treated as giving investment advice. Neither the Company, nor any of its directors, officers, employees, direct or indirect shareholders and advisors nor any other person shall have any liability whatsoever for any direct or indirect losses arising from any use of this presentation.

While the Company has taken all reasonable care to ensure that the facts stated in this presentation are accurate and that the opinions contained in it are fair and reasonable, this presentation is selective in nature. Any opinions expressed in this presentation are subject to change without notice and neither the Company nor any other person is under any obligation to update or keep current the information contained in this presentation. Where this presentation quotes any information or statistics from any external source, you should not interpret that the Company has adopted or endorsed such information or statistics as being accurate. This presentation contains forward-looking statements, which involve risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. These statements reflect the Company's current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "intend", "plan", "project" and "target". No obligation is assumed to update any such statement.

Numbers were rounded to one decimal. Due to rounding, numbers presented may not add up precisely to the totals provided.

KEY TAKEAWAYS

Revenue and earnings development in Q3 FY25 impacted by the current market environment, significant indirect effects from global tariff conflict, unfavorable product mix in the automotive business and weak US dollar.

Revenue -9.9% to €316m in Q3 FY25 (FX –4.6%), +1.1% to €980m in 9M FY25 (FX -3.1%).

Adj. EBIT1 margin 10.5% in Q3 FY25 and 11.1% in 9M FY25.

We have further intensified our cost-cutting measures.

Covenant headroom substantially increased: maximum net leverage ratio up to 4.0 until September 2026.

We have narrowed down our guidance released on December 9, 2024: For FY2025 we now expect group revenues, adj. EBIT margin and adj. FCF at the lower end of the respective forecast range, i.e., c. €1.3bn revenue, c. 11% adj. EBIT margin and c. €105m adj. FCF.

FACILITIES AGREEMENT WAS AMENDED TO SECURE NEW €150M FACILITY AND LARGER COVENANT HEADROOM

On July 31, 2025, the existing €450m Facilities Agreement (comprising a €100m term loan facility and a €350m revolving loan facility) was adjusted as follows:

• a new €150m term loan facility with maturity in June 2029 was added to the agreement (the funds will be used to replace the €83m promissory note due in March 2026);
• the agreed maximum net leverage ratio (the Facilities Agreement's key financial covenant) was raised from 3.5 up to 4.0 for the next quarters; it will return to 3.5 in September 2026.

Deleveraging remains a priority. As a precaution in current environment, the Facilities Agreement was amended to secure flexibility and larger covenant headroom.

IMPACT FROM THE CURRENT TARIFF CONFLICT

The imposed tariffs disrupt global supply chains, reduce visibility and increase uncertainty.

Stabilus Group has taken measures to mitigate the negative impact from tariffs, to protect its market shares and margins.

Lower visibility on customer demand and customer capex decisions.

Based on the current tariff legislation in the U.S. and other countries, we estimate the additional tariff payments in FY2025 in the low single-digit million euro amount. Mitigating actions: pricing adjustments, sourcing optimization.

While the expected direct negative effect of the U.S. tariff policy on the Stabilus Group is limited, the indirect impact is significant. Lower customer demand due to lower exports of capital goods from China and Europe to the U.S., reluctance to invest in capital goods (capex).

STABILUS GROUP IN Q3 FY2025

REVENUE AND EARNINGS IMPACTED BY CURRENT MARKET ENVIRONMENT

10.8% 10.5%

Revenue 9.9% y/y

• › Organic -5.3%, M&A 0.0%, FX -4.6% y/y
• › AMR1 and DIAMEC are stable, other market segments below PY

Adj. EBIT margin 1.8pp y/y

• › Adj. EBIT -23.2% y/y: Organic -20.2%, M&A +0.0%, FX -3.0%
• › Incurred integration cost €0.0m (PY: €2.0m)

Profit margin 3.7pp y/y

› Higher selling expenses, finance costs (interest expenses and net fx losses)

Adj. FCF % revenue 0.3pp y/y

• › Adjustments to FCF €2.4m (PY €9.0m)
• › Operating cash inflow down €1.2m, investing cash outflow (capex) down €3.2m y/y

STABILUS GROUP IN 9M FY2025

REVENUE AND EARNINGS IMPACTED BY CURRENT MARKET ENVIRONMENT

54.5 35.6 9M FY24 9M FY25 % margin % revenue % revenue - 34.7% 11.1% 5.6% 3.6%

Revenue 1.1% y/y

• › Organic -5.3%, M&A +9.5%, FX -3.1% y/y
• › Destaco sales synergies €6.6m

Adj. EBIT margin 0.8pp y/y

• › Adj. EBIT -5.7% y/y: Organic -18.6%, M&A +14.8%, FX -1.9%
• › Destaco cost synergies €0.9m
• › Incurred integration cost €1.5m (PY: €2.0m)

Profit margin 2.0pp y/y

› Higher selling expenses, finance costs (interest expenses and net fx losses)

Adj. FCF % revenue 1.8pp y/y

• › Adjustments to FCF €6.4m (PY €650.9m)
• › Operating cash inflow down €3.0m, investing cash outflow (capex) up €6.1m y/y

BUSINESS DEVELOPMENT BY REGION IN Q3 FY25

Revenue and adj. EBIT margin are impacted by the current market environment.

AMERICAS IMPACTED BY UNCERTAINTY AND WEAK USD

REVENUE (€M)

ADJ. EBIT (€M)

Revenue 12.8% y/y

• › Organic -3.9%, M&A 0.0%, FX -8.9%
• › Lower revenues in Automotive, CV1 , DIAMEC, EC, and IMA; higher revenues in HRF y/y; AMR on the prior-year level
• › Significant negative impact from weak US dollar

› Adj. EBIT -34.7% y/y: Organic -30.0%, - 34.7% M&A 0.0%, FX -4.7% y/y

EMEA REVENUE STABLE, AUTOMATION BUSINESS IMPACTED BY TARIFF CONFLICT

REVENUE (€M)

Revenue 0.6% y/y

• › Organic -0.1%, M&A 0.0%, FX -0.5%
• › Growth in Automotive, AMR1 , CV and DIAMEC was offset by revenue decline in HRF, EC and IMA
• › Lower IMA (Destaco) revenues due to indirect effects from the current tariff conflict and project delays on customer side

Adj. EBIT margin 1.1pp y/y

› Adj. EBIT -9.4% y/y: Organic -8.8%, M&A 0.0%, FX -0.6% y/y

APAC: AUTOMOTIVE AND IMA IMPACTED BY TARIFF CONFLICT

REVENUE (€M)

Q3 FY24 Q3 FY25

Revenue 21.9% y/y

• › Organic -17.0%, M&A 0.0%, FX -4.9%
• › Lower revenues in Automotive, HRF1 , DIAMEC, and IMA y/y; AMR, CV, EC revenues at prior-year level
• › IMA (Destaco) is impacted by indirect effects of the tariff conflict, low machinery exports from China to US

Adj. EBIT margin 1.6pp y/y

› Adj. EBIT -31.0% y/y: Organic -26.0%, M&A 0.0%, FX -5.0% y/y

BUSINESS DEVELOPMENT BY MARKET SEGMENT IN Q3 FY25

All market segments impacted by indirect effects of tariff conflict and customer hesitance to invest in capital goods; unfavorable product mix in Automotive.

NET LEVERAGE RATIO AT 3.0 AS OF END JUNE 2025

• › Net financial debt and net leverage ratio slightly up vs. end FY24.
• › As of end 9M FY25, the net leverage ratio amounted to 3.0.
• › Our goal is to reduce net leverage ratio well below 2.0 within the next two to three years.
• › Our mid-term target leverage ratio is 1.0.

NWC/REVENUE RATIO IMPROVED TO 19%

INVESTMENT FOCUS ON INNOVATIVE NEW PRODUCTS

• › Investment focus: radar technology, smart door actuation, eGrippers and automation of production facilities.
• › In FY2025, we expect capex to surpass the PY level of €82.9m and the originally planned 6% of revenue.

FY2025 FORECAST NARROWED DOWN TO THE LOWER END OF THE RESPECTIVE RANGE

	FY2024 Actual	FY2025 Forecast
Revenue	€1,305.9m	c. €1.3bn
Adj. EBIT margin	12.0%	c. 11%
Adj. FCF	€132.8m	c. €105m

› The FY2025 outlook was narrowed down to the lower end of the respective range, i.e., to c. €1.3bn revenue, c. 11% adj. EBIT margin, and c. €105m adj. FCF (prior forecast released on December 9, 2024: €1.3bn - €1.45bn revenue, 11% -13% adj. EBIT margin, €90m - €140m adj. FCF).

The Q3 revenue and earnings development was significantly impacted by the current market environment.

We monitor the global tariff situation very closely and have already implemented measures to mitigate potential negative effects.

We have further intensified our cost-cutting measures.

Covenant headroom substantially increased: maximum net leverage ratio temporarily up to 4.0.

We expect to reach the lower end of the respective forecast range from December 9, 2024.

¹⁸ MOTION CONTROL

APPENDIX

¹⁹ MOTION CONTROL

REVENUE AND ADJUSTED EBIT MARGIN BY QUARTER

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25

REVENUE

THREE MONTHS ENDED JUNE 30, 2025

REVENUE (€M)

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change	Acquisition effect	Currency effect	Organic growth
Automotive Gas Spring	32.0	31.4	(0.6)	(1.9)%	0.0%	0.0%	(1.9)%
Automotive Powerise	27.7	29.6	1.9	6.9%	0.0%	(1.1)%	8.0%
Industrial Components	66.6	66.9	0.3	0.5%	0.0%	(0.6)%	1.1%
Industrial Automation (Destaco)	14.6	12.1	(2.5)	(17.1)%	0.0%	0.5%	(17.6)%
EMEA	140.9	140.0	(0.9)	(0.6)%	0.0%	(0.5)%	(0.1)%
Automotive Gas Spring	31.1	26.5	(4.6)	(14.8)%	0.0%	(9.4)%	(5.4)%
Automotive Powerise	39.0	33.3	(5.7)	(14.6)%	0.0%	(16.1)%	1.5%
Industrial Components	36.9	31.3	(5.6)	(15.2)%	0.0%	(6.1)%	(9.1)%
Industrial Automation (Destaco)	26.9	25.6	(1.3)	(4.8)%	0.0%	(1.4)%	(3.4)%
AMERICAS	133.9	116.7	(17.2)	(12.8)%	0.0%	(8.9)%	(3.9)%
Automotive Gas Spring	25.7	21.3	(4.4)	(17.1)%	0.0%	(5.2)%	(11.9)%
Automotive Powerise	36.7	28.8	(7.9)	(21.5)%	0.0%	(5.4)%	(16.1)%
Industrial Components	6.2	5.9	(0.3)	(4.8)%	0.0%	(5.5)%	0.7%
Industrial Automation (Destaco)	7.3	3.3	(4.0)	(54.8)%	0.0%	(0.7)%	(54.1)%
APAC	75.9	59.3	(16.6)	(21.9)%	0.0%	(4.9)%	(17.0)%
Total Automotive Gas Spring (AGS)	88.8	79.2	(9.6)	(10.8)%	0.0%	(4.8)%	(6.0)%
Total Automotive Powerise (APR)	103.4	91.7	(11.7)	(11.3)%	0.0%	(8.3)%	(3.0)%
Total Industrial Components (IC)	109.7	104.1	(5.6)	(5.1)%	0.0%	(2.8)%	(2.3)%
Total Industrial Automation (Destaco)	48.8	41.0	(7.8)	(16.0)%	0.0%	(0.7)%	(15.3)%
Total	350.7	316.0	(34.7)	(9.9)%	0.0%	(4.6)%	(5.3)%

REVENUE

NINE MONTHS ENDED JUNE 30, 2025

REVENUE (€M)

	9M FY2024 Actual	9M FY2025 Actual	Change	% change	Acquisition effect	Currency effect	Organic growth
Automotive Gas Spring	95.2	92.1	(3.1)	(3.3)%	0.0%	0.0%	(3.3)%
Automotive Powerise	86.0	83.6	(2.4)	(2.8)%	0.0%	(0.4)%	(2.4)%
Industrial Components	200.9	195.3	(5.6)	(2.8)%	0.0%	(0.4)%	(2.4)%
Industrial Automation (Destaco)	14.6	38.4	23.8	163.0%	180.1%	0.5%	(17.6)%
EMEA	396.7	409.4	12.7	3.2%	6.6%	(0.3)%	(3.1)%
Automotive Gas Spring	89.4	80.7	(8.7)	(9.7)%	0.0%	(6.7)%	(3.0)%
Automotive Powerise	123.7	101.7	(22.0)	(17.8)%	0.0%	(13.2)%	(4.6)%
Industrial Components	102.3	95.8	(6.5)	(6.4)%	0.0%	(3.0)%	(3.4)%
Industrial Automation (Destaco)	26.9	80.0	53.1	197.4%	202.2%	(1.4)%	(3.4)%
AMERICAS	342.3	358.2	15.9	4.6%	15.9%	(7.5)%	(3.8)%
Automotive Gas Spring	81.0	74.9	(6.1)	(7.5)%	0.0%	(1.2)%	(6.3)%
Automotive Powerise	124.4	104.7	(19.7)	(15.8)%	0.0%	(1.2)%	(14.6)%
Industrial Components	18.0	18.5	0.5	2.8%	0.0%	(1.4)%	4.2%
Industrial Automation (Destaco)	7.3	14.3	7.0	95.9%	150.7%	(0.7)%	(54.1)%
APAC	230.6	212.4	(18.2)	(7.9)%	4.8%	(1.2)%	(11.5)%
Total Automotive Gas Spring (AGS)	265.5	247.7	(17.8)	(6.7)%	0.0%	(2.6)%	(4.1)%
Total Automotive Powerise (APR)	334.1	290.0	(44.1)	(13.2)%	0.0%	(5.4)%	(7.8)%
Total Industrial Components (IC)	321.2	309.6	(11.6)	(3.6)%	0.0%	(1.3)%	(2.3)%
Total Industrial Automation (Destaco)	48.8	132.7	83.9	171.9%	187.9%	(0.7)%	(15.3)%
Total	969.6	980.0	10.4	1.1%	9.5%	(3.1)%	(5.3)%

ADJUSTED EBIT

THREE AND NINE MONTHS ENDED JUNE 30, 2025

ADJUSTED EBIT (€M)

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change	Acquisition effect	Currency effect	Organic change
EMEA	18.1	16.4	(1.7)	(9.4)%	0.0%	(0.6)%	(8.8)%
AMERICAS	15.0	9.8	(5.2)	(34.7)%	0.0%	(4.7)%	(30.0)%
APAC	10.0	6.9	(3.1)	(31.0)%	0.0%	(5.0)%	(26.0)%
Total	43.1	33.1	(10.0)	(23.2)%	0.0%	(3.0)%	(20.2)%

	9M FY2024 Actual	9M FY2025 Actual	Change	% change	Acquisition effect	Currency effect	Organic change
EMEA	44.1	42.5	(1.6)	(3.6)%	11.3%	(0.2)%	(14.7)%
AMERICAS	31.8	34.2	2.4	7.5%	31.8%	(5.7)%	(18.6)%
APAC	39.3	31.9	(7.4)	(18.8)%	5.1%	(0.8)%	(23.1)%
Total	115.2	108.6	(6.6)	(5.7)%	14.8%	(1.9)%	(18.6)%

P&L AND ADJUSTED EBIT

THREE MONTHS ENDED JUNE 30, 2025

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change
Revenue	350.7	316.0	(34.7)	(9.9)%
Cost of sales	(256.3)	(228.5)	27.8	(10.8)%
Gross Profit	94.4	87.5	(6.9)	(7.3)%
% margin	26.9%	27.7%
R&D expenses	(9.1)	(10.0)	(0.9)	9.9%
Selling expenses	(31.4)	(34.2)	(2.8)	8.9%
Administrative expenses	(18.8)	(17.7)	1.1	(5.9)%
Other income/expenses	4.2	(0.8)	(5.0)	<(100.0)%
EBIT	39.3	24.8	(14.5)	(36.9)%
% margin	11.2%	7.8%
Finance income/costs	(6.2)	(11.5)	(5.3)	85.5%
EBT	33.0	13.2	(19.8)	(60.0)%
% margin	9.4%	4.2%
Income tax	(8.7)	(3.1)	5.6	(64.4)%
Profit	24.3	10.1	(14.2)	(58.4)%
% margin	6.9%	3.2%
EPS in €	0.97	0.40	(0.57)	(58.8)%

P&L (€M) ADJUSTED EBIT (€M)

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change
EBIT	39.3	24.8	(14.5)	(36.9)%
PPA adj. - D&A	3.9	7.7	3.8	97.4%
Reorganization	-	0.7	0.7	n/a
Advisory costs	0.8	-	(0.8)	(100.0)%
PPA adjustments	(0.9)	-	0.9	(100.0)%
Total adjustments	3.8	8.3	4.5	>100.0%
Adjusted EBIT	43.1	33.1	(10.0)	(23.2)%
% margin	12.3%	10.5%

P&L AND ADJUSTED EBIT

NINE MONTHS ENDED JUNE 30, 2025

	9M FY2024 Actual	9M FY2025 Actual	Change	% change
Revenue	969.6	980.0	10.4	1.1%
Cost of sales	(717.8)	(711.5)	6.3	(0.9)%
Gross Profit	251.8	268.4	16.6	6.6%
% margin	26.0%	27.4%
R&D expenses	(26.0)	(29.8)	(3.8)	14.6%
Selling expenses	(85.9)	(102.9)	(17.0)	19.8%
Administrative expenses	(57.6)	(60.3)	(2.7)	4.7%
Other income/expenses	8.2	3.4	(4.8)	(58.5)%
EBIT	90.5	78.8	(11.7)	(12.9)%
% margin	9.3%	8.0%
Finance income/costs	(13.2)	(29.3)	(16.1)	>100.0%
EBT	77.3	49.4	(27.9)	(36.1)%
% margin	8.0%	5.0%
Income tax	(22.8)	(13.8)	9.0	(39.5)%
Profit	54.5	35.6	(18.9)	(34.7)%
% margin	5.6%	3.6%
EPS in €	2.15	1.40	(0.75)	(34.9)%

P&L (€M) ADJUSTED EBIT (€M)

	9M FY2024 Actual	9M FY2025 Actual	Change	% change
EBIT	90.5	78.8	(11.7)	(12.9)%
PPA adj. - D&A	12.1	25.7	13.6	>100.0%
Reorganization	-	2.9	2.9	n/a
Advisory costs	13.4	1.2	(12.2)	(91.0)%
PPA adjustments	(0.8)	-	0.8	(100.0)%
Total adjustments	24.7	29.8	5.1	20.6%
Adjusted EBIT	115.2	108.6	(6.6)	(5.7)%
% margin	11.9%	11.1%

BALANCE SHEET

JUNE 30, 2025

BALANCE SHEET (€M)

	Sept 2024 Actual	June 2025 Actual	Change	% change
Property, plant and equipm.	300.3	300.0	(0.3)	(0.1)%
Goodwill	540.0	527.3	(12.7)	(2.4)%
Other intangible assets	477.9	455.2	(22.7)	(4.7)%
Other investments	6.0	6.0	-	0.0%
Inventories	223.6	210.7	(12.9)	(5.8)%
Trade receivables	203.4	193.0	(10.4)	(5.1)%
Other assets	50.3	50.1	(0.2)	(0.4)%
Cash	109.4	126.2	16.8	15.4%
Total assets	1,910.9	1,868.5	(42.4)	(2.2)%
Equity incl. minorities	677.7	646.1	(31.6)	(4.7)%
Debt (incl. accrued interest)	777.8	799.9	22.1	2.8%
Pension plans	47.3	44.9	(2.4)	(5.1)%
Deferred tax liabilities	64.2	57.4	(6.8)	(10.6)%
Trade payables	159.7	149.6	(10.1)	(6.3)%
Other liabilities	184.2	170.6	(13.6)	(7.4)%
Total equity and liabilities	1,910.9	1,868.5	(42.4)	(2.2)%

CASH FLOW

THREE MONTHS ENDED JUNE 30, 2025

CASH FLOW STATEMENT (€M)

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change
Cash flow from operating activities	52.1	50.9	(1.2)	(2.3)%
Cash flow from investing activities	(23.2)	(20.0)	3.2	(13.8)%
Cash flow from financing activities	(13.1)	4.6	17.7	<(100.0)%
Net increase / (decrease) in cash	15.7	35.6	19.9	>100.0%
Effect of movements in exchange rates	(0.8)	(4.5)	(3.7)	>100.0%
Cash as of beginning of the period	124.4	95.1	(29.3)	(23.6)%
Cash as of end of the period	139.4	126.2	(13.2)	(9.5)%

ADJ. FCF (€M)

	Q3 FY2024 Actual	Q3 FY2025 Actual	Change	% change
Cash flow from operating activities	52.1	50.9	(1.2)	(2.3)%
Cash flow from investing activities	(23.2)	(20.0)	3.2	(13.8)%
Free cash flow	28.9	30.9	2.0	6.9%
Adjustments	9.0	2.4	(6.6)	(73.3)%
Adj. FCF	37.9	33.3	(4.6)	(12.1)%

CASH FLOW

NINE MONTHS ENDED JUNE 30, 2025

CASH FLOW STATEMENT (€M)

	9M FY2024 Actual	9M FY2025 Actual	Change	% change
Cash flow from operating activities	122.3	119.3	(3.0)	(2.5)%
Cash flow from investing activities	(695.4)	(65.4)	630.0	(90.6)%
Cash flow from financing activities	521.4	(32.8)	(554.2)	<(100.0)%
Net increase / (decrease) in cash	(51.7)	21.2	72.9	<(100.0)%
Effect of movements in exchange rates	(2.1)	(4.4)	(2.3)	>100.0%
Cash as of beginning of the period	193.1	109.4	(83.7)	(43.3)%
Cash as of end of the period	139.4	126.2	(13.2)	(9.5)%

ADJ. FCF (€M)

	9M FY2024 Actual	9M FY2025 Actual	Change	% change
Cash flow from operating activities	122.3	119.3	(3.0)	(2.5)%
Cash flow from investing activities	(695.4)	(65.4)	630.0	(90.6)%
Free cash flow	(573.1)	53.9	627.0	<(100.0)%
Adjustments	650.9	6.4	(644.5)	(99.0)%
Adj. FCF	77.8	60.3	(17.5)	(22.5)%

LVP DEVELOPMENT / FORECAST

QUARTERLY VIEW: Q1 FY24 – Q4 FY25

5.2 5.2 5.1 4.3 5.0 5.0 4.9 4.2

Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25

Source: leading market forecast institutes, July 2025

EMEA

LVP DEVELOPMENT / FORECAST

YEARLY VIEW: FY2023 – FY2025

Light vehicle production in million units

ACRONYMS AND ABBREVIATIONS

Adj.	Adjusted
AGS	Automotive Gas Spring
AMR	Aerospace, Marine & Rail
APAC	Asia-Pacific
APR	Automotive Powerise
bp	Basis point
CAPEX	Capital expenditure
CV	Commercial Vehicles
CY	Calendar year
D&A	Depreciation and amortization
DIAMEC	Distributors, Independent Aftermarket, E-commerce
EMEA	Europe, Middle East & Africa
EBIT	Earnings before interest and taxes
EBITDA	Earnings before interest, taxes, depreciation and amortization
EBT	Earnings before taxes
EC	Energy & Construction
FCF	Free cash flow

FX	Foreign exchange, currency effect
FY	Fiscal year
GDP	Gross domestic product
HRF	Health, Recreation & Furniture
IMA	Industrial Machinery & Automation
LTM	Last twelve months
LVP	Light vehicle production
M&A	Mergers & Acquisitions, acquisition effect
NLR	Net leverage ratio
NWC	Net working capital
pp	Percentage point
PPA	Purchase price allocation
PPE	Property, plant and equipment
Prelim	Preliminary
PY	Prior year
q/q	Quarter-on-quarter
y/y	Year-on-year

MOTION CONTROL

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