DGAP-News: STRATEC SE
/ Key word(s): Quarter Results/Forecast
STRATEC POSTS GOOD START TO YEAR AND FURTHER SALES GROWTH IN FIRST QUARTER OF 2022
- Sales rise by 4.7% to € 75.4 million in Q1/2022; +1.8% at constant-currency (Q1/2021: € 72.0 million)
Birkenfeld, May 5, 2022
STRATEC SE, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard, SDAX) today announced its financial results and major events for the period from January 1, 2022 to March 31, 2022 with the publication of its Quarterly Statement Q1|2022.
KEY FIGURES 1
Adj. = adjusted
1 For comparison purposes, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions.
Adjusted EBIT amounted to € 15.0 million in the first quarter of 2022. It thus fell moderately short of the high previous year’s figure (Q1/2021: € 16.0 million) but was nevertheless slightly ahead of the original budget. As a result, the adjusted EBIT margin for the first quarter of 2022 stood at 19.9%, as against 22.3% in Q1/2021. The development in the margin was negatively influenced by, among other factors, a normalization in the product mix (within system sales), as well as by increased input costs given the ongoing highly tense situation in global supply chains. Due to the provisions of individual contracts, the rise in input costs can only be passed on to customers with a certain delay.
Adjusted consolidated net income amounted to € 11.9 million in the first quarter of 2022, compared with € 13.1 million in the previous year’s period. Adjusted earnings per share (basic) amounted to € 0.99 (Q1/2021: € 1.09).
In the interests of comparability, 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 statement of comprehensive income can be found in the Quarterly Statement Q1|2022 also published today.
The year-on-year decrease in the adjusted EBIT margin hereby implied is attributable to the assumption that the product mix (within system sales) will continue to normalize, as well as to higher input costs given the global shortage of transport capacities, commodities, and upstream products.
The short-term development in demand for product groups relevant to COVID-19 will continue to be significantly shaped by the future course of the pandemic. Overall, STRATEC expects the high volume of global test volumes at the beginning of the year to fall to significantly lower levels during the second and third quarter of 2022. Any assessment of the further course of the pandemic, particularly from the fall onwards, and associated demand for in-vitro diagnostics products is nevertheless subject to great uncertainties.
STRATEC’s budget scenario for the 2022 financial year includes a higher than normal number of assumptions and risk adjustments. Furthermore, the situation in global supply chains also remains tense and increasingly difficult to predict, with this being due not least to the war in Ukraine and renewed lockdowns in Asia.
For 2022, STRATEC expects total investments in property, plant and equipment and in intangible assets to correspond to 6.0% to 8.0% of sales (2021: 7.0%).
PROJECTS AND OTHER DEVELOPMENTS
Furthermore, STRATEC is holding promising negotiations for numerous further development cooperations, and this is also reflected in the high number of feasibility studies currently underway. Preparations for the start of serial production for market launches in the near future are progressing as planned. The market launch of a molecular diagnostics system solution for one of the market leaders is still scheduled for mid-2022.
DEVELOPMENT IN PERSONNEL
QUARTERLY STATEMENT Q1|2022
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/audiowebcast20220505 (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:||1343743|
|End of News||DGAP News Service|