STRATEC Biomedical AG / Key word(s): Final Results
STRATEC posts new record sales and earnings for 2014
Birkenfeld, April 14, 2015
STRATEC Biomedical AG, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard, TecDAX) today announced the final audited results of the STRATEC Group for the financial year ending on December 31, 2014 with the publication of its 2014 Annual Report. These figures prepared in line with International Financial Reporting Standards (IFRS) have been audited and granted an unqualified audit opinion.
bps = basis points
Sales grew by 13.2% to EUR 144.9 million in 2014, up from EUR 128.0 million in the previous year. This growth was driven once again by a strong performance with analyzer systems launched by STRATEC's partners since 2011. The company also posted a high volume of milestone payments for development services. These projects and subsequent market launches are expected to generate the growth planned for the coming years. The share of sales attributable to service parts increased from 21.3 percent in the previous year to 23.4 percent in 2014.
When assessing the development in costs, it should be noted that some items have been reclassified from administration to sales-related expenses. The latter item nevertheless reduced slightly, due to lower project support costs in the context of market launches. The rise in research and development expenses was attributable to ongoing high volumes of development services.
EBIT increased to EUR 24.6 million in 2014, up 26.0% from EUR 19.5 million in the previous year. This corresponds to an EBIT margin of 17.0%. Consolidated net income grew by 30.3% to EUR 20.2 million, and earnings per share increased 29.6% to EUR 1.71. These earnings figures have been adjusted to exclude a one-off negative item resulting from recognition in the first quarter of 2014 of expenses for the remaining years of the term of a management board contract for a retired member of the Board of Management and a positive non-operating item due to recognition of income for a development project discontinued in 2013. On an unadjusted basis, EBIT amounted to EUR 24.1 million, the corresponding EBIT margin to 16.6%, consolidated net income to EUR 19.8 million and earnings per share to EUR 1.68.
Financial forecast remains in line with prior guidance
For the 2015 financial year, we expect to see slight sales growth accompanied by a slight increase in the EBIT margin compared to 2014.
Development in personnel
Ongoing demand for our analyzer systems and for our development work mean that we will remain on the lookout for highly qualified personnel, especially in the development division.
Both STRATEC's Board of Management and its Supervisory Board have an interest in long-term staff retention. At its meeting on April 8, 2015, the Supervisory Board therefore extended the appointment of Dr. Robert Siegle to the Board of Management, which would have expired as of
Projects and other developments
The lifting of the exchange rate peg by the Swiss national bank will have minor negative implications for cost structures at STRATEC Biomedical Switzerland AG. Various measures have been implemented to limit these. The company still plans to implement the extension in production areas at the Beringen location in Switzerland, which should raise the STRATEC Group's production capacity by around 20%.
2014 Annual Report
The Annual General Meeting of STRATEC Biomedical AG will be held in Pforzheim on May 22, 2015. The invitation to the Annual General Meeting will be forwarded to STRATEC shareholders via their depositing banks in good time ahead of the Annual General Meeting.
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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|