EQS-News: STS Group AG
/ Key word(s): Quarter Results
STS Group AG with strong sales revenue and earnings growth in the first quarter of 2023
Hagen, 26 May 2023 – STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed on the General Standard of the Frankfurt Stock Exchange, has made a successful start to the current financial year with a strong first quarter.
Sales revenue and earnings increase in all regions
STS Group AG generated sales revenue of 74.0 mEUR in the period from 1 January to 31 March 2023, compared to 59.2 mEUR in the same period of the previous year. The significant increase of 24.9% resulted from sales revenue growth in all three segments Plastics, Materials and China, driven by continued momentum in the European truck market and a marked recovery in the Chinese truck market. The Chinese heavy-duty truck market had slumped significantly in 2022. This was due on the one hand to the effects of the restrictive covid policy, but on the other hand also to a special boom that had expired in the previous period.
The earnings situation of the STS Group also developed very positively. The group's operating result before interest, taxes, depreciation and amortisation (EBITDA) rose strongly in the first quarter to 3.0 mEUR after 0.4 mEUR in the same quarter of the previous year. In addition to the growth in sales revenue, the Europe and Mexico regions benefited in the reporting quarter from the efficiency measures introduced in the 2022 financial year. China also made a significant contribution to earnings again. Here, the increase in earnings is due on the one hand to efficiency measures implemented in the third quarter of 2022 and on the other hand to a steady market recovery. As a result, the STS Group's EBITDA margin of 4.1% was significantly above the level of the same quarter of the previous year (1.1%).
Alberto Buniato, CEO of STS Group AG: "In the first quarter, we succeeded in achieving significant growth in sales revenue and improved earnings in all regions. The improved operating performance is the result of a recovery of the commercial vehicle market in China. In addition, the efficiency measures introduced in all regions last year are taking effect and led to a increase in profitability in the first quarter. Together with our upcoming ramp-up of the new plant in the USA, we have a good base to further develop our business within the upcoming months of the year."
Forecast 2023 confirmed
Key figures in the first three months of 2023
About STS Group:
STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry. It employs more than 1,400 people worldwide and generated sales of 235.1 mEUR in the financial year 2022. STS Group ("STS") produces and develops at its twelve plants and three development centers in France, Germany, Mexico, China and, in the future, also in the USA plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC), such as solid and flexible vehicle and aerodynamic trim, entire interior systems, as well as lightweight construction and battery components for electric vehicles. STS is considered as a technology leader in the manufacture of plastic injection moulding and components made of composite materials. STS has a large global footprint with plants in three continents. The customer portfolio comprises leading international manufacturers of commercial vehicles, passenger cars and electric vehicles.
STS Group AG
26.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||STS Group AG|
|Kabeler Str. 4|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1642319|
|End of News||EQS News Service|
1642319 26.05.2023 CET/CEST