DGAP-News: STRATEC SE / Key word(s): Quarter Results/Quarterly / Interim Statement
STRATEC REPORTS GOOD START TO THE 2019 FINANCIAL YEAR
- Consolidated sales in Q1/2019 up 17.6% year-on-year at constant currency to EUR 47.7 million; nominal growth of 20.3% (Q1/2018: EUR 39.6 million)
Birkenfeld, May 24, 2019
STRATEC SE, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard) today announced its financial results and major events for the period from January 1, 2019 to March 31, 2019 with the publication of its Quarterly Statement Q1|2019.
KEY FIGURES 1
bps = Basis points
1 For comparison purposes, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions and the associated reorganization expenses, as well as other non-recurring effects.
Adjusted EBIT increased by 26.2% to EUR 5.1 million in the first quarter of 2019, compared with EUR 4.0 million in the previous year. As a result, the adjusted EBIT margin rose year-on-year by 60 basis points to 10.7%. The margin was positively affected in particular by the higher sales volumes and associated benefits of scale. This effect was nevertheless partly offset by increased costs in connection with the full development pipeline, higher personnel expenses relating to stock appreciation rights, and the product mix. In line with expectations, the launch of a new ERP system in January and the therefore scheduled interruption to production activities also impacted negatively on the company's performance.
Due to the increase in operating profitability, adjusted consolidated net income from continuing operations also improved, in this case by 14.3% from EUR 3.4 million in the previous year to EUR 3.8 million. Adjusted earnings per share from continuing operations (basic) amounted to EUR 0.32, as against EUR 0.28 in the previous year's quarter.
To facilitate comparison, the adjusted figures are stated net of the amortization of purchase price allocations resulting from acquisitions, associated restructuring expenses, and other non-recurring items. A reconciliation of the adjusted figures with the figures reported in the consolidated income statement has been provided in the Quarterly Statement Q1|2019 also published today.
PROJECTS AND OTHER DEVELOPMENTS
On an operating level, the successful go-live of a new ERP system at the company's two largest production locations in Birkenfeld (DE) and Beringen (CH) in the first quarter of 2019 represented a major milestone. Following implementation at the Budapest (HU) and Anif (AT) locations in 2018 already, this means that all locations relevant to the STRATEC Group's production activities now have a uniform ERP system. Once the inefficiencies customary to the initial phase have been addressed, the new system will make cooperation between the locations significantly easier and enable processes to be structured more efficiently.
DEVELOPMENT IN PERSONNEL
Given the construction work underway to significantly expand capacities at its headquarters in Birkenfeld and investments in numerous development projects, STRATEC expects its investment ratio to remain at an above-average high level in 2019. The company has budgeted investments in property, plant and equipment and intangible assets corresponding to around 12% to 14% of sales for 2019 (previous year: 10.3%). However, the investment ratio will likely decline considerably from 2020 onwards once the construction measures have been completed.
QUARTERLY STATEMENT Q1|2019
CONFERENCE CALL AND AUDIO WEBCAST
You will receive the access data (telephone number, password + individual PIN) after brief registration via the following link: www.stratec.com/registration
The conference call can also be followed as an audio webcast at www.stratec.com/audiowebcast20190524 (brief registration necessary). Please note that it is not possible to submit any questions via the audio webcast. You can also use this link to follow or download the slide presentation.
The partners market the systems, software and consumables, in general together with their own reagents, as system solutions to laboratories, blood banks and research institutes around the world. STRATEC develops its products on the basis of its own patented technologies.
Shares in the company (ISIN: DE000STRA555) are traded in the Prime Standard segment of the Frankfurt Stock Exchange.
FURTHER INFORMATION IS AVAILABLE FROM:
|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|
|EQS News ID:||815435|
|End of News||DGAP News Service|