DGAP-News: STRATEC SE
/ Key word(s): Quarter Results/Quarterly / Interim Statement
STRATEC SHOWS DYNAMIC GROWTH IN FIRST NINE MONTHS OF 2019
- Sales up by 17.3% at constant currency to EUR 161.1 million in 9M/2019; nominal growth of 19.6% (9M/2018: EUR 134.6 million)
Birkenfeld, November 7, 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 September 30, 2019 with the publication of its Quarterly Statement 9M|2019.
KEY FIGURES 1
Adj. = Adjusted
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 year-on-year by 17.8% to EUR 20.1 million in the first nine months of 2019 (9M/2018: EUR 17.0 million). The adjusted EBIT margin therefore stands at 12.5%, falling slightly short of the previous year's figure (9M/2018: 12.7%). The subdued development in the margin compared with the previous year was due among other factors to the product mix. Furthermore, valuation effects in connection with stock appreciation rights had a negative impact of 90 basis points on the margin. In contrast, the margin was positively influenced by measures introduced within the earnings improvement initiative launched in 2018. Furthermore, in the fourth quarter of 2019 the margin is set to benefit from the forthcoming realization of development sales with above-average margins, as well as from improvements in the product mix.
As a result of the increase in operating earnings, adjusted consolidated net income from continuing operations also improved by 16.7% to EUR 15.9 million (9M/2018: EUR 13.6 million). Adjusted earnings per share from continuing operations (basic) for the first nine months of 2019 amount to EUR 1.32, as against EUR 1.14 in the previous year.
In the interests of comparability, key earnings figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions, associated reorganization expenses, and other non-recurring items. A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Quarterly Statement 9M|2019 also published today.
PROJECTS AND OTHER DEVELOPMENTS
DEVELOPMENT IN PERSONNEL
Given the construction work currently underway to significantly expand capacities at the company's headquarters in Birkenfeld and the investments also being made in numerous development projects, STRATEC expects its investment ratio to remain at an above-average high level in 2019. Investments in property, plant and equipment and intangible assets are budgeted at around 12% to 14% of sales in 2019 (2018: 10.3%). Following completion of the construction work, the investment ratio is expected to fall significantly once again from 2020 onwards.
QUARTERLY STATEMENT 9M|2019
CONFERENCE CALL AND AUDIO WEBCAST
You will receive the dial-in data (telephone number, password + individual PIN) following brief registration at the following link: www.stratec.com/registration
The conference call will also be available at the same time as an audio webcast at www.stratec.com/audiowebcast20191107 (brief registration required). Please note that no questions can be submitted via the audio webcast. Clicking this link also enables you 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.
|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:||906063|
|End of News||DGAP News Service|