Jul 29, 2024 / 08:30AM GMT
Michael Buechsner - Stabilus SE - Chief Executive Officer, Member of the Management Board
Welcome to our quarterly call today. We have Stefan Bauerreis, our CFO; Andreas Schroder, Investor Relations; and myself, Michael Buechsner, CEO of the Stabilus Group on the call. We have some good news for you today, the market is stabilizing for us in the fourth quarter and the first-time consolidation of DESTACO contributes positive to our financials, so let's go into the details.
As expected, we saw some softer call-offs in the third quarter, which we forecasted, and this is mainly driven by our bigger OEMs and also by the electric car segments. However, customer demand is stabilizing in the fourth quarter and therefore, in the third quarter, the organic revenue growth in Asia Pacific was positive 3.2%, organic development in the EMEA a little softer as expected, 5%, 0.1%, 5.1% negative and in Americas, minus 3%. Also here, softer, impacted by lower quantities, automotive and commercial vehicle sector.
However, the consolidation of the stake really drove our sales and we, overall, quarter-to
Q3 2024 Stabilus SE Earnings Call Transcript
Jul 29, 2024
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