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STS Group AG with noticeable market recovery in Europe in the nine-month period - Significant improvement of EBITDA in the third quarter 2022

2022| Nov| 28

EQS-News: STS Group AG / Key word(s): Quarterly / Interim Statement
STS Group AG with noticeable market recovery in Europe in the nine-month period - Significant improvement of EBITDA in the third quarter 2022
28.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

STS Group AG with noticeable market recovery in Europe in the nine-month period - Significant improvement of EBITDA in the third quarter 2022

  • Sales revenue growth in Europe could not completely offset purely market related decline in China, mainly due to continued local restrictive zero-covid policy
  • Slight decline in Group sales revenue by 3.2% to 172.1 mEUR (9M/2021: 177.9 mEUR)
  • EBITDA decreases in nine-month period to 7.0 mEUR (9M/2021: 13.5 mEUR), but increased to 4.2 mEUR in Q3/2022 compared to 2.9 mEUR in the first half year 2022
  • Forecast 2022 confirmed

Hagen, 28 November 2022 – STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed on the General Standard of the Frankfurt Stock Exchange, today publishes its nine-month figures for 2022.

Alberto Buniato, CEO of STS Group AG: “The market recovery in Europe, which was already noticeable in the first half of the year, continued for us in the third quarter of 2022. The brightening mood contributed to a significant overall sales growth in our Plastics and Materials segments. The positive development of our site in Mexico also helped to achieve these growth rates. On the one hand, we are using joint synergies there with our strategic investor Adler Pelzer. On the other hand, the structural measures introduced last year are taking effect. Overall, the expansion of the North American business is and remains of great relevance to us. We see great potential there, which we want to leverage through further growth efforts in the region.”

Revenue development

STS Group AG generated sales revenue of 172.1 mEUR in the period from 1 January to 30 September 2022, compared to 177.9 mEUR in the same period of the previous year. The slight decline of 3.2% is mainly due to the drastic decline in demand in China, which is purely market related as a result of the ongoing restrictive zero-covid policy and the associated lockdowns. However, the significant growth in sales revenue in the Plastics and Materials related to a strong market recovery within the European truck market, could not fully compensate for this decline.

Earnings development

Due to the absence of the earnings contribution from China, the Group’s operating result before interest, taxes, depreciation and amortization (EBITDA) fell to 7.0 mEUR in the nine-month period, compared to 13.5 mEUR in the same period of the previous year.

In Europe the increased cost of materials in the first half of 2022 continued to persist in the third quarter and still had a negative impact on the result. Nevertheless, the first material price increases were achieved with customers, which was particularly noticeable in the third quarter in the rising profitability of the Plastics segment which contributed positively to the overall Group result. This led to an increased Group EBITDA of 4.2 mEUR in the third quarter 2022, compared to an EBITDA of 2.9 mEUR for the complete first half of the year 2022. Further negotiations with the customers on material price and energy costs compensations are in the process of finalisation.

The well-developing location in Mexico also had a positive effect on the earnings situation, as the structural measures taken there last year are continuing. Several restructuring actions have been implemented in China to counteract the current market related local sales decline, these actions will show full effect in the first Quarter of 2023 and related restructuring costs will be fully absorbed in 2022. This already contributed to an improved profitability in China in the third quarter of the reporting year despite the COVID-19-related decrease in sales.

Adjusted for restructuring-related special effects, adjusted EBITDA fell to 7.3 mEUR in the reporting period (9M/2021: 13.8 mEUR). For the nine-month period, STS Group AG reported a consolidated result of -6.4 mEUR (9M/2021: 0.8 mEUR).

Forecast 2022 confirmed

The STS Group's business development in the nine-month period is in line with expectations with regard to the targets for 2022 communicated in the annual report. The forecast therefore remains unchanged. In this context, the Executive Board assumes that there will be no dramatic intensification and expansion of the war in Ukraine and no discontinuation of raw material deliveries, and that sales revenue for the full year 2022 will be slightly lower than in the previous year. The development of sales revenue will have the same effect on adjusted EBITDA. Minor special charges are expected for fiscal 2022, so adjusted EBITDA will be roughly in line with EBITDA.

Key figures in the first nine months of 2022

in mEUR
 9M/2022 9M/2021
Revenues 172.1 177.9
EBITDA 7.0 13.5
Adjusted EBITDA 7.3 13.8
Adjusted EBITDA margin 4.2% 7.8%


About STS Group:

STS Group AG, (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry. It employs more than 1,500 people worldwide and generated sales of 242.0 mEUR in the financial year 2021. 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
Investor Relations
Kabeler Str. 4
58099 Hagen

28.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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