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Stabilus SE Investor Presentation 2026
6214_ip_2026-01-25_50b44e23-808a-442e-9fb6-b165af2f9cf7.pdf
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STABILUS
Q1 FY2026 RESULTS
ANALYST & INVESTOR WEB CONFERENCE
JANUARY 26, 2026
MOTION CONTROL
DISCLAIMER
STABILUS
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
STABILUS
Strong cash generation: Adj. FCF at €23.9m (PY: €8.9m). Adj. EBIT¹ margin at 10.1%, -1.5pp y/y; Adj. EBIT margin in China recovered q/q and reached 18% in Q1 FY26.
Revenue at €291.1m, -10.7% y/y: organic change -7.0%, FX - 3.7% y/y. Revenue and earnings development continue to be negatively affected by the current economic situation and unfavorable currency effects. Excluding currency effects, stable revenues y/y in EMEA and Americas, difficult business development with an organic change of -25% in APAC.
Significant overhead cost reduction. The transformation program to boost long-term competitiveness is well on track, further cost savings expected going forward.
Net leverage ratio as of end December 2025 at 3.04.
The key growth drivers until 2030 are intact and will support our development going forward, primarily from H2 FY2026 on.
¹ See list of acronyms in appendix.
KEY GROWTH DRIVERS UNTIL 2030
STABILUS
INDUSTRIAL POWERISE
Industrialization of electromechanical motion
AUTOMOTIVE SIDE DOOR ACTUATION
OEM adoption in next-gen vehicle platforms
AUTOMATION SYNERGIES
Automation Solutions, Industrial Robots, Humanoids
STABILUS GROUP IN Q1 FY2026
STABILUS
REVENUE AND EARNINGS IMPACTED BY CURRENT MARKET ENVIRONMENT
REVENUE (€M)
☐ % organic growth
REVENUE ▼ 10.7% y/y
- Organic -7.0%, FX -3.7% y/y
- Soft automotive business, predominantly in APAC¹ (China)
- Destaco revenue synergies €1.7m
ADJ. EBIT (€M)
☐ % margin
ADJ. EBIT margin ▼ 1.5pp y/y
- Organic -18.8%, FX -3.7% y/y
- Reduction of R&D, selling and administrative costs by €6.7m or -10.5% y/y
- Destaco cost synergies €0.5m
PROFIT (€M)
☐ % revenue
Profit margin ▼ 1.6pp y/y
- Higher finance costs y/y due to unfavorable fx rate development: €0.4m net fx loss in Q1 FY26 vs. €2.5m net fx gain in Q1 FY25
- Lower income tax expense y/y
ADJ. FCF (€M)
☐ % revenue
Adj. FCF % revenue ▲ 5.5pp y/y
- Adjustments to FCF €1.8m (PY €2.0m)
- Higher cash flow from operations by €7.9m y/y, lower cash flow for investing activities by €7.3m y/y
¹ See list of acronyms in appendix.
BUSINESS DEVELOPMENT BY REGION IN Q1 FY2026
STABILUS
| AMERICAS | EMEA | ASIA-PACIFIC | |
|---|---|---|---|
| Revenue | ▼ 5.7% y/y | ▼ 1.4% y/y | ▼ 30.6% y/y |
| adj. EBIT margin | 4.7% | 10.8% | 18.1% |
| ▼ 3.8pp y/y | ▲ 1.9pp y/y | ▼ 1.3pp y/y |
Despite difficult business development and revenue dip by 31% in APAC, the countermeasures were effective to safeguard an adj. EBIT margin of 18% in this region.
AMERICAS: REVENUE AND EARNINGS IMPACTED BY WEAK US DOLLAR AND SOFTER INDUSTRIAL BUSINESS
STABILUS
1 See list of acronyms in appendix.
REVENUE (€M)
ADJ. EBIT (€M)
Revenue ▼ 5.7% y/y
> Organic -0.5%, FX -5.2% y/y
> Lower revenues primarily in Industrial Components business unit
> Organic growth in Automotive Gas Spring, Automotive Powerise and Industrial Automation (Destaco) by 0.4%, 2.2% and 3.2% y/y, respectively
Adj. EBIT margin ▼ 3.8pp y/y
> Organic -43.3%, FX -5.2%
> Lower margin as a result of softer industrial business
> Mexico and US gas spring operations with workforce turnover challenges, driving increased training investments and reduced operational efficiency
EMEA: MARGIN IMPROVEMENT WITH REVENUES ROUGHLY ON THE PRIOR-YEAR LEVEL
STABILUS
REVENUE (€M)
ADJ. EBIT (€M)
Revenue ▼ 1.4% y/y
> Organic -0.3%, FX -1.1%
> Lower revenues in Automotive Gas Spring (AGS¹) and Industrial Automation (Destaco) business units
> Organic growth in Automotive Powerise and Industrial Components by 4.2% and 4.0% y/y, respectively
Adj. EBIT margin ▲ 1.9pp y/y
> Organic +21.4%, FX -1.8%
> Effective cost cutting measures
> First cost savings from the announced transformation program
¹ See list of acronyms in appendix.
APAC: MARGIN IN HIGH TEENS (18%), DESPITE REVENUE DIP
STABILUS
REVENUE (€M)
ADJ. EBIT (€M)
Revenue ▼ 30.6% y/y
> Organic -24.9%, FX -5.7% y/y
> Lower revenues in Automotive Powerise (APR¹) and Automotive Gas Spring (AGS) business units, predominantly in China
Adj. EBIT margin ▼ 1.3pp y/y
> Organic -31.4%, FX -4.1%
> Despite significantly lower revenues, the EBIT margin stood at 18.1%
> Substantial margin improvement q/q: 11.1% in Q4 FY25 vs. 18.1% in Q1 FY26
¹See list of acronyms in appendix.
BUSINESS DEVELOPMENT BY MARKET SEGMENT
STABILUS
Industrial business ▼ 7% y/y
Organic -2%
FX -5%
Automotive business ▼ 14% y/y
Organic -10%
FX -4%
| ICON | MARKET SEGMENT | % CHANGE Y/Y |
|---|---|---|
| Automotive (AGS and APR) | ▼ 14% | |
| Industrial Machinery & Automation (IMA) | ▼ 10% | |
| Distributors, Independent Aftermarket, E-commerce (DIAMEC) | ▼ 1% | |
| Commercial Vehicles (CV) | ▼ 2% | |
| Health, Recreation & Furniture (HRF) | ▼ 4% | |
| Energy & Construction (EC) | ▼ 30% | |
| Aerospace, Marine & Rail (AMR) | ▲ 16% |
Revenue affected by unfavorable currency effects. Organic development in diversified industrial business more resilient than in automotive.
NET LEVERAGE RATIO AT 3.04 AS OF END DECEMBER 2025
STABILUS
Net financial debt as of end of quarter in €m | Net leverage ratio = net financial debt / LTM adj. EBITDA
- In Q1 FY26, net financial debt was reduced by €13.3m.
- Since end FY2024, net financial debt was reduced by €49.9m or 7.5%.
- Our goal is to reduce net leverage ratio below 2.0 within the next three years.
- Our mid-term target leverage ratio is 1.0.
NWC/REVENUE RATIO IMPROVED TO 17.3%
STABILUS
03 FY22 04 FY22 01 FY23 02 FY23 03 FY23 04 FY23 01 FY24 02 FY24 03 FY24 04 FY24 01 FY25 02 FY25 03 FY25 04 FY25 01 FY26
NWC/revenue ratio improved by 60bp q/q to 17.3% as of end 01 FY26.
> Receivables sold under the factoring program as of end December 2025: €20.6m (Sept 2025: €25.8m, Dec 2024: €8.3m).
NWC as of end of quarter in €m | NWC/revenue ratio = NWC in % of LTM revenue
INVESTMENT FOCUS ON INNOVATIVE NEW PRODUCTS
STABILUS
> Important investment projects:
> radar technology,
> smart door actuation,
> electric grippers,
> automation of production facilities.
Capital expenditure (CAPEX) in €m | Capex in % revenue
CONFIRMING GUIDANCE FOR FY2026
STABILUS
| | FY2025
Actual | FY2026
Forecast |
| --- | --- | --- |
| Revenue | €1,296.1m | €1.1bn - €1.3bn |
| Adj. EBIT
margin | 11.0% | 10% - 12% |
| Adj. FCF | €119.0m | €80m - €110m |
> The forecast range reflects difficult market conditions, macroeconomic and geopolitical uncertainties.
> Despite softer development in Q1 FY2026, we confirm our FY2026 guidance from December 8, 2025.
SUMMARY AND OUTLOOK
STABILUS
The Q1 FY2026 revenue and earnings development was significantly impacted by the current market environment.
We confirm our FY2026 guidance from December 8, 2025.
Despite the headwinds, we continue to pursue our long-term strategy STAR 2030, focusing on profitable and sustainable growth, customer and employee satisfaction, innovation and sustainability.
Q&A SESSION
APPENDIX
REVENUE AND ADJUSTED EBIT MARGIN BY QUARTER
STABILUS
REVENUE
STABILUS
THREE MONTHS ENDED DECEMBER 31, 2025
REVENUE (€M)
| 01 FY2025 Actual | 01 FY2026 Actual | Change | % change | Acquisition effect | Currency effect | Organic growth | |
|---|---|---|---|---|---|---|---|
| Automotive Gas Spring | 29.0 | 27.1 | (1.9) | (6.6)% | 0.0% | (0.1)% | (6.5)% |
| Automotive Powerise | 26.1 | 26.6 | 0.5 | 1.9% | 0.0% | (2.3)% | 4.2% |
| Industrial Components | 57.3 | 58.9 | 1.6 | 2.8% | 0.0% | (1.2)% | 4.0% |
| Industrial Automation (Destaco) | 12.9 | 11.0 | (1.9) | (14.7)% | 0.0% | (0.4)% | (14.3)% |
| EMEA | 125.4 | 123.6 | (1.8) | (1.4)% | 0.0% | (1.1)% | (0.3)% |
| Automotive Gas Spring | 25.5 | 24.4 | (1.1) | (4.3)% | 0.0% | (4.7)% | 0.4% |
| Automotive Powerise | 29.8 | 30.6 | 0.8 | 2.7% | 0.0% | 0.5% | 2.2% |
| Industrial Components | 32.2 | 27.4 | (4.8) | (14.9)% | 0.0% | (8.0)% | (6.9)% |
| Industrial Automation (Destaco) | 26.2 | 24.8 | (1.4) | (5.3)% | 0.0% | (8.5)% | 3.2% |
| AMERICAS | 113.7 | 107.2 | (6.5) | (5.7)% | 0.0% | (5.2)% | (0.5)% |
| Automotive Gas Spring | 29.8 | 22.1 | (7.7) | (25.8)% | 0.0% | (6.1)% | (19.7)% |
| Automotive Powerise | 44.6 | 28.4 | (16.2) | (36.3)% | 0.0% | (5.2)% | (31.1)% |
| Industrial Components | 6.7 | 6.0 | (0.7) | (10.4)% | 0.0% | (7.4)% | (3.0)% |
| Industrial Automation (Destaco) | 5.9 | 3.8 | (2.1) | (35.6)% | 0.0% | (5.1)% | (30.5)% |
| APAC | 86.9 | 60.3 | (26.6) | (30.6)% | 0.0% | (5.7)% | (24.9)% |
| Total Automotive Gas Spring (AGS) | 84.3 | 73.6 | (10.7) | (12.7)% | 0.0% | (3.6)% | (9.1)% |
| Total Automotive Powerise (APR) | 100.5 | 85.6 | (14.9) | (14.8)% | 0.0% | (2.8)% | (12.0)% |
| Total Industrial Components (IC) | 96.2 | 92.3 | (3.9) | (4.1)% | 0.0% | (3.9)% | (0.2)% |
| Total Industrial Automation (Destaco) | 45.0 | 39.6 | (5.4) | (12.0)% | 0.0% | (5.7)% | (6.3)% |
| Total | 326.0 | 291.1 | (34.9) | (10.7)% | 0.0% | (3.7)% | (7.0)% |
ADJUSTED EBIT
STABILUS
THREE MONTHS ENDED DECEMBER 31, 2025
ADJUSTED EBIT (€M)
| 01 FY2025 Actual | 01 FY2026 Actual | Change | % change | Acquisition effect | Currency effect | Organic change | |
|---|---|---|---|---|---|---|---|
| EMEA | 11.2 | 13.4 | 2.2 | 19.6% | 0.0% | (1.8)% | 21.4% |
| AMERICAS | 9.7 | 5.0 | (4.7) | (48.5)% | 0.0% | (5.2)% | (43.3)% |
| APAC | 16.9 | 10.9 | (6.0) | (35.5)% | 0.0% | (4.1)% | (31.4)% |
| Total | 37.8 | 29.3 | (8.5) | (22.5)% | 0.0% | (3.7)% | (18.8)% |
P&L AND ADJUSTED EBIT
STABILUS
THREE MONTHS ENDED DECEMBER 31, 2025
P&L (€M)
| Q1 FY2025 Actual | Q1 FY2026 Actual | Change | % change | |
|---|---|---|---|---|
| Revenue | 326.0 | 291.1 | (34.9) | (10.7)% |
| Cost of sales | (238.7) | (215.4) | 23.3 | (9.8)% |
| Gross Profit | 87.2 | 75.7 | (11.5) | (13.2)% |
| % margin | 26.7% | 26.0% | ||
| R&D expenses | (9.4) | (7.7) | 1.7 | (18.1)% |
| Selling expenses | (33.4) | (32.4) | 1.0 | (3.0)% |
| Administrative expenses | (20.9) | (16.9) | 4.0 | (19.1)% |
| Other income/expenses | 4.7 | 2.4 | (2.3) | (48.9)% |
| EBIT | 28.1 | 21.1 | (7.0) | (24.9)% |
| % margin | 8.6% | 7.2% | ||
| Finance income/costs | (7.3) | (9.5) | (2.2) | 30.1% |
| EBT | 20.9 | 11.6 | (9.3) | (44.5)% |
| % margin | 6.4% | 4.0% | ||
| Income tax | (6.6) | (3.5) | 3.1 | (47.0)% |
| Profit | 14.3 | 8.1 | (6.2) | (43.4)% |
| % margin | 4.4% | 2.8% | ||
| EPS in € | 0.56 | 0.31 | (0.25) | (44.6)% |
ADJUSTED EBIT (€M)
| Q1 FY2025 Actual | Q1 FY2026 Actual | Change | % change | |
|---|---|---|---|---|
| EBIT | 28.1 | 21.1 | (7.0) | (24.9)% |
| PPA adj. - D&A | 8.9 | 7.6 | (1.3) | (14.6)% |
| Reorganization | - | 0.6 | 0.6 | n/a |
| Advisory costs | 0.8 | - | (0.8) | (100.0)% |
| Total adjustments | 9.7 | 8.2 | (1.5) | (15.5)% |
| Adjusted EBIT | 37.8 | 29.3 | (8.5) | (22.5)% |
| % margin | 11.6% | 10.1% |
BALANCE SHEET
STABILUS
DECEMBER 31, 2025
BALANCE SHEET (€M)
| | Sept 2025
Actual | Dec 2025
Actual | Change | % change |
| --- | --- | --- | --- | --- |
| Property, plant and equipm. | 303.9 | 301.5 | (2.4) | (0.8)% |
| Goodwill | 526.6 | 527.1 | 0.5 | 0.1% |
| Other intangible assets | 450.4 | 447.2 | (3.2) | (0.7)% |
| Other investments | 6.0 | 6.0 | - | 0.0% |
| Inventories | 204.4 | 211.4 | 7.0 | 3.4% |
| Trade receivables | 176.1 | 150.5 | (25.6) | (14.5)% |
| Other assets | 50.5 | 55.9 | 5.4 | 10.7% |
| Cash | 162.6 | 166.4 | 3.8 | 2.3% |
| Total assets | 1,880.5 | 1,866.0 | (14.5) | (0.8)% |
| Equity incl. minorities | 635.8 | 646.7 | 10.9 | 1.7% |
| Debt (incl. accrued interest) | 794.4 | 784.8 | (9.6) | (1.2)% |
| Pension plans | 44.9 | 44.2 | (0.7) | (1.6)% |
| Deferred tax liabilities | 60.0 | 60.1 | 0.1 | 0.2% |
| Trade payables | 149.0 | 143.3 | (5.7) | (3.8)% |
| Other liabilities | 196.4 | 186.9 | (9.5) | (4.8)% |
| Total equity and liabilities | 1,880.5 | 1,866.0 | (14.5) | (0.8)% |
CASH FLOW
STABILUS
THREE MONTHS ENDED DECEMBER 31, 2025
CASH FLOW STATEMENT (€M)
| 01 FY2025 Actual | 01 FY2026 Actual | Change | % change | |
|---|---|---|---|---|
| Cash flow from operating activities | 29.7 | 37.6 | 7.9 | 26.6% |
| Cash flow from investing activities | (22.8) | (15.5) | 7.3 | (32.0)% |
| Cash flow from financing activities | (21.4) | (19.4) | 2.0 | (9.3)% |
| Net increase / (decrease) in cash | (14.5) | 2.8 | 17.3 | <(100.0)% |
| Effect of movements in exchange rates | 2.5 | 1.0 | (1.5) | (60.0)% |
| Cash as of beginning of the period | 109.4 | 162.6 | 53.2 | 48.6% |
| Cash as of end of the period | 97.5 | 166.4 | 68.9 | 70.7% |
ADJ. FCF (€M)
| 01 FY2025 Actual | 01 FY2026 Actual | Change | % change | |
|---|---|---|---|---|
| Cash flow from operating activities | 29.7 | 37.6 | 7.9 | 26.6% |
| Cash flow from investing activities | (22.8) | (15.5) | 7.3 | (32.0)% |
| Free cash flow | 6.9 | 22.1 | 15.2 | >100.0% |
| Adjustments | 2.0 | 1.8 | (0.2) | (10.0)% |
| Adj. FCF | 8.9 | 23.9 | 15.0 | >100.0% |
LVP DEVELOPMENT / FORECAST
STABILUS
QUARTERLY VIEW: Q1 FY25 - Q4 FY26
Source: leading market forecast institutes, January 2026
LVP DEVELOPMENT / FORECAST
STABILUS
YEARLY VIEW: FY2024 - FY2026
Source: leading market forecast institutes, January 2026
ACRONYMS AND ABBREVIATIONS
STABILUS
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
STABILUS
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