STRATEC SE / Key word(s): Preliminary Results/Change in Forecast
STRATEC POSTS PRELIMINARY FIGURES FOR THE FIRST HALF AND PUBLISHES NEW SALES GUIDANCE FOR THE 2021 FINANCIAL YEAR
Birkenfeld, July 21, 2021
Based on preliminary figures, STRATEC expects to report consolidated sales of € 155.8 million for the first half of 2021 (previous year: € 119.4 million), corresponding to constant-currency sales growth of 36.0% compared with the previous year (nominal: +30.5%). The dynamic growth already seen in the first months of 2021 gained further slight momentum in the second quarter (sales growth in Q2 2021: constant-currency: +39.1%; nominal: +33.3%). Alongside product groups relevant to COVID-19, this sales growth was also driven by products newly launched onto the market.
Adjusted EBIT for the first half of 2021, also based on preliminary figures, is expected to rise year-on-year by 87.0% to € 34.4 million (previous year: € 18.4 million). The adjusted EBIT margin would then amount to 22.1% (previous year: 15.4%). Adjusted EBIT corresponds to EBIT adjusted to eliminate amortization from acquisition-related purchase price allocations, as well as an impairment of € 1.0 million recognized on a proprietary development project in the Diatron segment.
Given a better than expected performance in the second quarter of 2021, updated risk adjustments, and the resultant partial inclusion of orders for the second half of 2021 that were previously not accounted for, the company's Board of Management has decided to adjust the sales growth guidance figure for 2021. As a result, STRATEC now expects to generate constant-currency sales growth of at least 12.0% in the 2021 financial year (previously: "at least in a high single-digit percentage range"). For its adjusted EBIT margin, the company is still forecasting an unchanged figure of around 17.5% to 18.5%.
The above guidance is based on a planning scenario which assumes that the vaccines currently available will remain highly effective against new virus mutations and that further major waves of infection can be avoided in North America and Europe. Furthermore, STRATEC continues to observe a high level of volatility in its customers' order behavior, which is tending to increase overall. In view of this, some orders for the fourth quarter of 2021 are still not incorporated in the above financial guidance.
STRATEC will publish its Half-Year Financial Report with the complete figures for the first half as planned on August 6, 2021. Furthermore, a conference call (in English) will also be held on August 6, 2021.
|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:||1220766|
|End of Announcement||DGAP News Service|