STRATEC Biomedical AG / Key word(s): Quarter Results/Interim Report
STRATEC reports on first half of 2013
Birkenfeld, July 23, 2013
STRATEC Biomedical AG (Frankfurt: SBS; Prime Standard, TecDAX) today announced its results for the period from January 1, 2013 to June 30, 2013 upon the publication of its Interim Report as of June 30, 2013.
* 2012 figure adjusted for a one-off item of EUR 3.3 million due to an income-neutral reclassification from unfinished services and prepayments received upon the write-down of a development project. On an unadjusted basis, sales for the first half of 2012 amounted to EUR 58.2 million and the corresponding EBIT margin amounted to 16.2%.
Demand in the service and spare parts business continued to develop stably at slightly improved levels compared to previous months. The reported flood-related delays in services and supplies, the associated shifts in the service and spare parts business, as well as cost and scale factors resulted in an EBIT margin of 13.0% in the second quarter. The EBIT margin for the first six months amounted to 14.1% and is within the budgeted framework for the financial year as a whole.
Consolidated net income totaled EUR 6.8 million as of June 30, 2013, as against EUR 7.4 million in the previous year's period, while earnings per share decreased correspondingly by 5 cents to EUR 0.58.
On July 12, 2013, STRATEC reported the discontinuation by a customer of a development and supply agreement. Since then, no new insights have been gained concerning the discontinuation of this contractual relationship. Negotiations for compensation for STRATEC are currently underway with the customer and at present, no more precise details can be provided as to the nature, amount, or timing of such compensation. Further projects with this partner and projects with other partners are not affected by the contract discontinuation.
The distribution of a dividend of EUR 0.56 per share was resolved at the company's Annual General Meeting in Pforzheim on June 6, 2013.
Developments in staff totals
Outlook and company forecast
Our ability to issue precise forecasts continues to be impeded by several external factors, such as capacity utilization rates at installed systems, the timing of further market launches, the planned production launches for new systems, further consolidation in the IVD market, and macroeconomic market factors.
Marcus Wolfinger, Chairman of the Board of Management commented: 'Our new forecast takes account of a changed situation. One major development project has been discontinued prematurely. We have also seen larger-scale fluctuations in our customers' acceptance forecasts, a factor that reduces STRATEC's budgeting reliability and which is why we have provided a relatively broad forecast corridor.
We continue to see sustained growth in our industry and, given our young product portfolio and the systems due to be newly added, we still expect to be able to generate company growth ahead of the industry average going forward.'
Further details can be found in our Interim Report as of June 30, 2013 published at www.stratec.com > Investor Relations > IR News > Financial Reports.
Shares in the company (ISIN: DE0007289001) are traded in the Prime Standard segment of the Frankfurt Stock Exchange and are listed in the TecDAX select index of the German Stock Exchange.
Further information can be obtained from:
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|Company:||STRATEC Biomedical AG|
|Phone:||+49 (0)7082 7916 0|
|Fax:||+49 (0)7082 7916 999|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart|
|End of News||DGAP News-Service|