DGAP-News: STRATEC Biomedical AG / Key word(s): Quarterly / Interim Statement/Quarter Results
STRATEC continues to deliver growth in the first nine months 2017
Birkenfeld, October 26, 2017
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard) today announced its financial results and major events for the period from January 1, 2017 through to September 30, 2017 with the publication of its Quarterly Statement 9M|2017.
Major key figures for 9M|2017 and Q3|2017
bps = basis points
Nine-month adjusted EBIT grew by 30.4% from EUR 18.4 million in the previous year to EUR 24.0 million in 2017. The adjusted EBIT margin rose by 130 basis points to 15.9%, up from 14.6% in the previous year's nine-month period. The positive development in the margin was driven in particular by the Group's strong performance in the third quarter. Factors worth highlighting in this respect are a strong product mix, the recognition of revenues for development services performed in Q1 to Q3 2017, and the progress made in integrating and enhancing profitability at the subsidiaries acquired in 2016.
Adjusted consolidated net income increased year-on-year by 22.1% to EUR 18.6 million in the first nine months of the year. Earnings per share came to EUR 1.57 (+21.7%, previous year: EUR 1.29).
These earnings figures have been adjusted to exclude amortization for purchase price allocations (PPAs) resulting from acquisitions and to exclude one-off items incurred in connection with transaction activities and associated restructuring expenses. A detailed reconciliation of the adjusted and unadjusted figures can be found in the Quarterly Statement 9M|2017 also published today.
Projects and other developments
At the AACC, one of the most important fairs for the healthcare and diagnostics industries, which took place in July and August, the newly developed "KleeYa" and "Aquila" platforms were presented to a wider audience for the first time. The positive feedback received from customers confirms the Company's strategic approach of developing an extended platform concept as an additional offering for new and existing partners. In the period under report, STRATEC already managed to conclude two cooperation agreements for the KleeYa platform, a new fully automated chemiluminescence immunoassay system.
Hologic, one of STRATEC's largest customers, was able to report the successful European market launch of "Panther Fusion" in the first half of 2017. This was followed in October by FDA (Food and Drug Administration) approval for the first test using "Panther Fusion" in the US.
In the current financial year, STRATEC will continue to focus on achieving major development milestones and market launches.
Development in personnel
STRATEC continues to seek suitably qualified personnel and expects to report further workforce growth in the coming quarters to enable it to manage the large numbers of development projects and seize future growth opportunities.
Given upcoming market launches and the significant progress being made in numerous project negotiations, STRATEC continues to expect to generate average annual organic sales growth (CAGR) in the high single-digit or low double-digit percentage range in the years ahead. The expected positive development in profitability, due primarily to benefits of scale resulting from recent acquisitions, will be countered by a temporary increase in investment activity - to prepare the growth planned for the future - and by up-front financing of select customer projects. Overall, STRATEC expects the EBIT margin to remain broadly consistent.
Conference call and audio webcast
The access information (telephone number, password + individual PIN) will be provided following brief registration at the following link: www.stratec.com/registration
The call may also be followed as an audio webcast at www.stratec.com/audiowebcast20171026 brief registration required). Please note that it is not possible to submit any questions via the audio webcast.
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:
|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|