FRANKFURT, Germany—Automotive sealing major Standard Profil has reported a "brightening" outlook at the first quarter of this year.
The three months to end of March saw an easing of headwinds, amid diminishing supply chain issues and falling material prices, the company reported.
Sales increased by 46.5 percent to about $150 million (€137.6 million), or $133 million pro forma*, reaching a new record level for the fourth consecutive quarter, said CEO Klaus Elmer in the company's first quarter report.
Standard Profil, he said, benefited from its SPrint25 profitability improvement program, as well as from recently agreed cost-compensation-mechanisms with customers.
"Overall, we were able to significantly increase our normalized reported EBITDA to €31.4 million ($34.2 million)—pro forma: €16.1 million ($17.5 million)—in Q1/23 versus €12.8 million ($13.5 million) in Q1/2022," Elmer added.
The CEO went on to note a continuing stabilization in customers' planned production schedules (EDIs), with production volumes outstripping those of previous years.