FRANKFURT (dpa-AFX) - Disappointing quarterly figures from Stabilus have spoiled the start of the week for investors in the automotive and industrial supplier. On Monday morning, the shares slumped to their lowest level since mid-December and fell below the 21- and 50-day lines, which are regarded as short- to medium-term support. Most recently, Stabilus was the weakest MDax stock, trading 6.1 percent lower at 60.15 euros.

The company increased sales by a total of 5.1 percent in the first quarter. However, revenues in the important Americas region declined due to strikes in the US automotive industry. The operating margin fell from 11.2 percent a year earlier to 10.9 percent.

In an initial assessment, JPMorgan analyst Akshat Kacker referred to the challenging market environment on the American continent. This, in turn, was due to the impressive development in the Asia-Pacific region. Although Stabilus has confirmed its revenue target for the 2023/24 financial year, he fears that this could prove to be too optimistic./edh/stk