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STS Group AG starts the new year successfully with a strategic e-mobility contract for the European market

2020| Jan| 08
Financial News

DGAP-News: STS Group AG / Key word(s): Incoming Orders
08.01.2020 / 07:30
The issuer is solely responsible for the content of this announcement.

STS Group AG starts the new year successfully with a strategic e-mobility contract for the European market

Hallbergmoos/Munich, January 8, 2020. STS Group AG (ISIN: DE000A1TNU68;, the global system supplier for the automotive industry listed in the Prime Standard of the Frankfurt Stock Exchange, has made a strong start to 2020 by winning a strategic e-mobility contract in Europe. The previous year was already successfully concluded with a major order from the US market with a volume of approx. 230 mEUR (production start planned for the second quarter of 2021). At the start of the year, STS has now won the first contract in the e-mobility sector for the European market.

In future, STS will produce cover modules for complete battery systems for a hybrid vehicle of a well-known premium sports car manufacturer. The start of production is scheduled for the beginning of 2022. The order with a volume in the single-digit million euro range has a total term of eight years.

After winning several orders for battery cover modules in the e-mobility sector in the Chinese market in 2019, STS has now received its first order for this innovative product in Europe. In doing so, STS is strengthening its position in the European market with a strategically important product. The mentioned modules are high-performance components made of the composite material SMC (Sheet Molding Compound), which have to meet the highest requirements. They guarantee heat resistance and also provide a significant weight reduction compared to conventional materials. The company sees considerable growth potential for this new product group in Europe in addition to the Chinese market.

"STS has the components for the mobility concepts of tomorrow. The order for the battery cover modules clearly underlines this. We are now also pleased to enter the European market with this innovative product group, as we see very promising growth opportunities, especially in the e-mobility sector. With this order we have reached another important milestone in our expansion strategy, which at the same time broadens the foundation for further growth," says Andreas Becker, CEO of STS Group AG.

About STS Group:
STS Group AG, (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry for soft and hard trim. The Group, which has a history of tradition and expertise dating back to 1934, employs more than 2,500 people and generated revenue of 401,2 mEUR in the 2018 financial year. At its 17 plants in total in France, Italy, Germany, Poland, Mexico, Brazil and China, the STS Group ("STS") produces plastic and acoustic components, such as solid and flexible vehicle trim, noise and vibration-damping materials and entire interior and exterior trim systems. STS is considered a technology leader in the manufacture of plastic injection molding, specialty acoustic products and components from sheet molding compounds (SMC). STS has a strong footprint with plants in China, Europe, Mexico and Brazil. The customer portfolio comprises leading international commercial vehicle and automotive manufacturers.

STS Group AG
Stefan Hummel
Head of Investor Relations
Zeppelinstrasse 4
85399 Hallbergmoos
+49 811 1244 9412

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08.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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