KOBLENZ (dpa-AFX) - The automotive and industrial supplier Stabilus has started the new fiscal year (until the end of September) with slightly higher sales. While the company was able to grow in Europe and Asia, revenues in the Americas region declined due to strikes in the US automotive industry. Overall, the company had to accept losses in profitability. As Stabilus announced in Koblenz on Monday, sales in the quarter ending December climbed by 5.1 percent year-on-year to EUR 305.4 million. While earnings before interest and taxes adjusted for special effects rose slightly to 33.3 million euros, the corresponding margin fell from 11.2 percent a year earlier to 10.9 percent. At the bottom line, profit fell by 3.3 million euros to 12.2 million euros.

The company confirmed its targets for the year as a whole. The management expects turnover to increase to between 1.4 and 1.5 billion euros. At 13 to 14 percent, the Group expects the adjusted operating margin to be roughly on a par with the previous two years. According to the information provided, the forecast also includes effects from the consolidation of Destaco, including expected costs for the integration of the American company.