DGAP-News: STRATEC SE
/ Key word(s): Quarter Results/Forecast
STRATEC WITH FURTHER ACCELERATION IN SALES AND EARNINGS GROWTH IN FIRST QUARTER OF 2021
- Sales up by 32.5% at constant currency to € 72.0 million in Q1/2021; nominal +27.4%
- Adjusted EBIT in Q1/2021 rises by 109.5% to € 16.0 million (Q1/2020: € 7.7 million)
- Adjusted EBIT margin for Q1/2021 improves by 870 basis points to 22.3% (Q1/2020: 13.6%)
- Further success in pressing ahead with development pipeline
- Recently raised guidance for 2021 confirmed: Constant-currency sales growth at least in a high single-digit percentage range and adjusted EBIT margin of around 17.5% to 18.5% expected
Birkenfeld, May 7, 2021
STRATEC SE, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard, SDAX) today announced its financial results and major events for the period from January 1, 2021 to March 31, 2021 with the publication of its Quarterly Statement Q1|2021.
KEY FIGURES 1
bps = basis points
1 For comparison purposes, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions.
Adjusted EBIT showed substantial growth in the first quarter, rising by 109.5% from € 7.7 million in the previous year's quarter to € 16.0 million. As a result, the corresponding margin improved by 870 basis points to 22.3% (Q1/2020: 13.6%). The margin was positively influenced by benefits of scale, measures to enhance efficiency (e.g. targeted increase in production depth at Budapest location), and a strong product mix, including an above-budget performance in the Service Parts and Consumables business. Conversely, measurement items for stock appreciation rights had a negative impact on earnings of around € 0.8 million in the first quarter.
Adjusted consolidated net income for the first quarter increased by 110.5% to € 13.1 million (Q1/2020: € 6.2 million). Adjusted earnings per share (basic) therefore amounted to € 1.09, as against € 0.52 in the previous year's period.
To facilitate comparison, key earnings figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions. A reconciliation of the adjusted figures with those reported in the consolidated income statement can be found in the Quarterly Statement Q1|2021 also published today.
For the 2021 financial year, STRATEC expects constant-currency sales growth at least in a high single-digit percentage range and an adjusted EBIT margin of around 17.5% to 18.5% (2020: 16.7%).
Due to the COVID-19 pandemic, STRATEC continues to observe higher volatility in its customers' order behavior. In the first quarter of 2021, the company witnessed an overall rise in order forecasts for the second half of 2021. Due to the additional forecasting uncertainty resulting from the pandemic, however, the higher order forecasts for the fourth quarter of 2021 in particular have not been incorporated in the above financial guidance.
Following the completion in 2020 of the construction measures to convert and extend buildings at the company's Birkenfeld location, STRATEC expects its investment ratio to decrease in 2021. The company still expects total investments in property, plant and equipment and intangible assets in 2021 to correspond to around 6.0% to 8.0% of sales (2020: 10.2%).
PROJECTS AND OTHER DEVELOPMENTS
DEVELOPMENT IN PERSONNEL
QUARTERLY STATEMENT Q1|2021
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 http://www.stratec.com/audiowebcast20210507 (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 and are listed in the SDAX select index of the German 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:||1193620|
|End of News||DGAP News Service|