DGAP-News: STRATEC SE
/ Key word(s): Half Year Results
STRATEC POSTS NEW RECORD LEVEL OF SALES AND EARNINGS IN FIRST HALF OF 2021
- Sales up by 36.0% at constant currency to € 155.8 million in H1/2021; nominal +30.5%
(H1/2020: € 119.4 million)
- Adjusted EBIT in H1/2021 rises by 87.1% to € 34.5 million (H1/2020: € 18.4 million)
- Adjusted EBIT margin improves by 670 base points to 22.1% (H1/2020: 15.4%)
- New products launched and important development milestones achieved
- Recently raised guidance for 2021 confirmed: Constant-currency sales growth of at least 12.0% and adjusted EBIT margin of around 17.5% to 18.5%
Birkenfeld, August 6, 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 June 30, 2021 with the publication of its Half-Year Financial Report H1|2021.
KEY FIGURES 1
Adj. = adjusted
1 To facilitate comparison, adjusted figures exclude amortization resulting from acquisition-related purchase price allocations and an impairment recognized on a proprietary development project.
Adjusted EBIT for the first six months of 2021 rose by 87.1% to € 34.5 million, compared with € 18.4 million in the previous year. Accordingly, the adjusted EBIT margin improved by 670 basis points to 22.1% (H1/2020: 15.4%). This marked rise in profitability was due among other factors to benefits of scale, a strong product mix, measures to enhance efficiency, and, unlike in the previous year, a positive earnings contribution from the Smart Consumables segment. Moreover, the charges resulting from measurement items for stock appreciation rights (SARs) were lower than in the previous year.
Given the company's increased operating profitability, adjusted consolidated net income also improved, in this case by 83.1% to € 28.5 million (H1/2020: € 15.6 million). Adjusted earnings per share (basic) for the first six months of 2021 rose by 81.5% to € 2.36 compared with € 1.30 in the previous year's period. Unadjusted earnings per share (basic) increased to € 2.08, up from € 1.01 in the previous year's period.
To facilitate comparison, key earnings figures have been adjusted to exclude amortization resulting from acquisition-related purchase price allocations and an impairment recognized on a proprietary development project in the Diatron segment. A reconciliation of the adjusted figures with those reported in the consolidated income statement can be found in the Half-Year Financial Report H1|2021 also published today.
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. This volatility is tending to increase overall. In view of this, several customer orders for the fourth quarter of 2021 are still not incorporated in the above guidance.
Following the completion in 2020 of the construction measures to convert and extend buildings at the Birkenfeld location, STRATEC expects its investment ratio to decrease in 2021. The company 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
STRATEC's development pipeline is well stocked and also includes projects in highly advanced stages of development. STRATEC therefore expects to launch numerous significant projects onto the market together with its partners in the months ahead as well. The launch of a new molecular diagnostic product family for one of the market leaders in this field, for example, is scheduled for the first half of 2022.
DEVELOPMENT IN PERSONNEL
HALF-YEAR FINANCIAL REPORT H1|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/audiowebcast20210806 (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 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:||1224476|
|End of News||DGAP News Service|