Full Year 2025 Stabilus SE Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Akshat Kacker - JPMorgan Chase & Co - Analyst : Welcome, Andreas. Akshat from JPMorgan. I have three questions, please. The first one around the full year 2026 outlook. Obviously, a cautious guide at this point of the year, and the range is definitely wider than what we have seen in your previous outlooks. So, could you just give us more details and I think starting with business divisions and then going into different geographies. So, if you could just talk about overall business development expectations across Powerise, Industrial Components, and Industrial Automation, those three segments going into next year? What are the key growth drivers? Or where do you see risks across those business divisions? And the second part, as I said, on the regional outlook, you are clearly expecting sharp declines of 10% to 15% at the midpoint of the guide, specifically in APAC and Americas. So could you just give us more details on what exactly is going on in those geographies? The second question is on the transformation program. And I see that you're talking about $32 million of gross savings by 2028, but you're also talking about higher-than-expected cost inflation in Mexico and Romania, along with other moving parts that you mentioned, materials and energy. So could you just help us put all of that in context and talk about the expectations around net savings, if possible, by 2027 and '28? How do you expect overall inflation elements to balance out on the P&L, please? And the last one is probably some kind of guidance on the first quarter to help us put this guide for the full year into perspective. If you could just share some more details on how the first quarter of FY26 has been progressing on a sales or an adjusted EBIT level? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 08, 2025 / 9:30AM, STM1.DE - Full Year 2025 Stabilus SE Earnings Call

Question: Akshat Kacker - JPMorgan Chase & Co - Analyst : I'm sorry for the long questions. Just a very quick follow up. So, when I think about the first question and your outlook, when I'm understanding what you're saying in terms of overall market development on GDP and LVP, your expectations around outperformance, your expectations around offsetting pricing pressure, it sounds to me like you are comfortable between the mid- to high end of the revenue guide as of now when you're thinking about the overall business. Because the lower end of the guide basically talks about 10% to 15% decline.

Question: Klaus Ringel - Oddo BHF SCA - Analyst : I actually have two, and I would like to take them one by one. Well the first one being, yes, your view on the pathway of your net debt-to-EBITDA leverage in the next quarters. There's some areas a big attention on this multiple. And the question would be, if we will go south from this 2.96 at year-end or due to this cash out for restructuring and maybe also payment of the dividend, we could see it going up a bit still before it will go down. So very -- would be very interested to hear your thoughts here. That's the first question.

Question: Klaus Ringel - Oddo BHF SCA - Analyst : Okay. And the second one would be a clarification on the impact of this transfer pricing on the margins. That's a one-off? Or will we see a continuous impact in the next couple of quarters?