Auto supplier Stabilus rises as mixed results 'good enough' to lift shares

Stabilus SE

31/10/2024 07:52

** Shares in Stabilus  STM1.DE  rise 2.4% in early Frankfurt
trade after the industrial and automotive supplier reports
preliminary FY results
    ** Stabilus reported a "mixed" set of prelim FY23/24
figures, a local trader says, noting adj. FCF of 132.8 mln euros
came in "considerably above Vara consensus" of 86 mln euros, but
EBIT of 113 mln euros fell short of expectations (e: 124mn)
    ** "Mixed, but should be good enough for a bounce as shares
are in downtrend since months," the trader says
    ** Shares in the company have lost about 45% so far this
year
    
  

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))