Stabilus rises on outlook hike above estimates

Stabilus SE

01/08/2022 07:31

** Shares in Stabilus  STAB.DE  jump 5.6% in early Frankfurt
trade after the Luxemburg-based automotive and industrial
supplier hikes 2022 sales guidance  urn:newsml:reuters.com:*:nASM000LJO
    ** The company now sees FY revenue of EUR 1.07 bln ($1.09
bln) vs previous guidance of EUR 940-990 mln, citing positive
business development in the first nine months of its fiscal year
    ** It expects EBIT margin of around 14%, at the low end of
its earlier 14-15% range
    ** "Full-year sales guidance raised even more than expected
and so 1.07 Bln sales at 14% margin means ~150mn FY22 EBIT,
which is clearly above consensus," a local trader says
    ** The trader adds some profit taking later in the day can't
be excluded as "pattern (including trimmed margin guidance) was
expected"
    ** Q3 revenue rose by 18.5% to EUR 271.1 mln
    ** Stock is seen at the top of the German mid-cap index
 .MDAXI 

($1 = 0.9784 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))