Business · Companies · 7 hrs ago

Stabilus cuts 2030 targets as demand weakens in China and North America

Stabilus cuts 2030 targets as demand weakens in China and North America

Stabilus lowered its targets for 2030 as it expects weaker business in China and North America.

The auto and industrial supplier now expects revenue of €1.5 billion, €500 million below its previous target.

It also expects an adjusted operating profit margin of 12% to 15%, instead of its earlier target of 15%.

Weaker-than-expected demand in the Americas led to a €67 million write-down in the latest financial year.

In the fourth quarter, revenue fell 4.4% year on year to €302.1 million, while adjusted operating profit dropped to €28.9 million from €34 million.

Stabilus proposed a dividend of €0.22 per share, down from €0.35, subject to approval by its supervisory board and shareholders.

The company cited debt reduction as a reason for the lower payout, and its shares fell 7% on Tradegate compared with their Xetra closing price.

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