STRATEC SE / Key word(s): Preliminary Results/Change in Forecast
STRATEC REPORTS PRELIMINARY FIGURES FOR FIRST NINE MONTHS OF 2021 AND RAISES FINANCIAL GUIDANCE
Birkenfeld, October 28, 2021
Based on preliminary figures, STRATEC can report further record sales and earnings for the first nine months of 2021. According to these figures, STRATEC expects consolidated sales of € 225.4 million for the first nine months of 2021, up from € 179.1 million in the previous year. On a constant-currency basis, this corresponds to organic growth of 29.5% (nominal: +25.9%). The sales performance in the third quarter of 2021 (constant currency: +16.7%) once again exceeded the budget scenario, which was most recently adjusted upwards in July 2021. Highly dynamic developments were shown by, among others, the service parts and consumables business, as well as by molecular diagnostics and immunohematology systems.
Adjusted EBIT for the first nine months of 2021 is expected to rise by 73.7% to € 48.8 million (previous year: € 28.1 million). This corresponds to an adjusted EBIT margin of 21.6% (previous year: 15.7%). The company's profitability was positively influenced in particular by benefits of scale, as well as by the sales and product mix, which exceeded recent expectations.
Based on this above-budget performance in the third quarter of 2021, and given current order volumes and updated risk adjustments, the company's Board of Management has decided once again to raise the financial guidance for the 2021 financial year. As a result, STRATEC now expects to generate constant-currency sales growth of at least 16.0% in the 2021 financial year (previously: "at least 12.0%"). For its adjusted EBIT margin, the company is forecasting a figure of around 19.0% to 20.0% (previously: "around 17.5% to 18.5%").
In view of the COVID-19 pandemic, STRATEC continues to observe increased volatility in its customers' order behavior. Global supply chains also remain tense and subject to uncertainties. The above guidance therefore specifically includes risk discounts for both sales and product mixes in the fourth quarter of 2021, as well as for potential further increases in logistics costs.
STRATEC will publish its Quarterly Statement with complete figures for the first nine months of 2021 as planned on November 11, 2021. Furthermore, a conference call (in English) will also be held on November 11, 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:||1244430|
|End of Announcement||DGAP News Service|