STRATEC Biomedical AG / Key word(s): Quarter Results/Interim Report
STRATEC remains on track in first quarter of 2015
Birkenfeld, April 29, 2015
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard, TecDAX) today announced its results for the period from January 1, 2015 to March 31, 2015 upon the publication of its Interim Report as of March 31, 2015.
bps = basis points
* 2014 figure adjusted to exclude a one-off negative item resulting from the recognition in the first quarter of expenses for the remaining years of the term of a management board contract for a retired member of the Board of Management. Unadjusted results for the first quarter 2014 EBIT amounted to EUR 4.4 million; the corresponding EBIT margin amounted to 12.7%, consolidated net income to EUR 3.7 million and earnings per share to EUR 0.31. The actual amount of the aforementioned expense item may differ at the time of payment from the amounts presented here.
The ongoing positive trend in the free cash flow, which grew from EUR 7.6 million in the first quarter of the previous year to EUR 9.0 million in Q1 2015, led cash and cash equivalents to rise to EUR 58.6 million at the reporting date on March 31, 2015.
Development in personnel
Given ongoing demand for a combination of analyzer system deliveries and our research and development services, we continue to seek well-qualified personnel, especially in the development division.
Projects and other developments
STRATEC is continuing to focus on achieving further key development milestones, further market launches, and finalizing negotiations for new development and production contracts through this year.
The spare parts and services business has continued to perform very solidly. The expansion in production and development capacities is set to play a major role in the coming quarters. STRATEC plans, for example, to construct a proprietary development building at its site in Romania. The groundbreaking ceremony is due to take place in the coming days.
The shell construction for the extension to production areas at the Beringen location in Switzerland, which will boost the STRATEC Group's production capacities by around 20%, will be complete by the beginning of 2016.
Financial forecast remains valid
The targets set out in our financial forecast first communicated in July 2013, which provides for average annual sales growth of eight to twelve percent through to 2017 accompanied by increasing profitability, remain valid. The results are expected to fall below or exceed this range in individual years, as most recently reported for the 2014 financial year.
As well as pursuing the opportunities offered by organic growth, STRATEC is increasingly also reviewing inorganic opportunities, which would enable the company to generate faster growth in key areas or to access new niche markets. All activities will serve to broaden the share of the value chain we can offer to our customers. However, a key priority in our evaluation of such prospects will be to avoid entering into any competitive situation with existing or potential partners.
Interim Report as of March 31, 2015
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|Company:||STRATEC Biomedical AG|
|Phone:||+49 (0)7082 7916 0|
|Fax:||+49 (0)7082 7916 999|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart|
|End of News||DGAP News-Service|