DGAP-News: STRATEC Biomedical AG / Key word(s): Quarter Results/Interim Report
STRATEC reports on first nine months of 2015
Birkenfeld, October 28, 2015
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard, TecDAX) today announced its results for the period from January 1, 2015 to September 30, 2015 upon the publication of its Interim Report as of September 30, 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 EBIT for the first nine months of 2014 amounted to EUR 17.0 million; the corresponding EBIT margin amounted to 16.2%, consolidated net income to EUR 14.2 million and earnings per share to EUR 1.20. The actual amount of the aforementioned expense item may differ at the time of payment from the amounts presented here.
Group performance was driven by a positive product mix and efficiency enhancements. Service parts continued to account for a proportionately high share of sales. This was due to a rise in demand for service materials as a result of continued expansion in the global base of installed analyzer systems. Also, the ratio of instruments sold to the growing share of service parts lead to positive margin development on a group level. Individual customers have reported weaker sales figures in various regions within Asia in recent months.
The Group's tax rate amounted to 18.1% for the first nine months of 2015. As a result, consolidated net income was EUR 15.9 million, corresponding to an increase of 8.8% compared to the figure for the first nine months of the previous year (+12.5% on unadjusted 2014 figure). Earnings per share increased by EUR 0.11 to EUR 1.35 (+8.9% / +12.5% on unadjusted 2014 figure).
Free cash flow amounted to EUR 16.1 million after nine months 2015. The decline in comparison to last year was mainly due to higher preliminary tax payments. Cash and cash equivalents rose to EUR 54.7 million at the reporting date on September 30, 2015 and the equity ratio amounted to 80.4%.
Development in personnel
Projects and other developments
Financial forecast remains valid
Although individual customers have slightly reduced their forecasts for the remainder of the financial year and for 2016 to account for the current dip in turnover figures in Asia, we can confirm our valid mid-term financial forecast. This provides for average annual sales growth of eight to twelve percent through to 2017 based on the figures for the 2013 financial year (EUR 128.0 million) and for this to be accompanied by increasing profitability. We expect figures to fall below or exceed this range in individual years.
As well as pursuing the opportunities offered by organic growth, STRATEC is increasingly reviewing external opportunities which could enable the company to generate faster growth in key areas or access new niche markets. All activities serve to broaden the share of the value chain we can offer to our customers. One key priority is to avoid entering into any situation of competition with existing or potential partners.
Conversion to registered shares
Since this time, only the new international and German security identification numbers have been valid, namely ISIN DE000STRA555 (previously: DE0007289001) and WKN STRA55 (previously 728900). The company's ticker symbol SBS has remained unchanged. Further information about the registered shares can be found at www.stratec.com/registered_shares.
Interim report as of September 30, 2015
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2015-10-28 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|