DGAP-News: STRATEC SE
/ Key word(s): Half Year Results
STRATEC REPORTS RESULTS FOR FIRST HALF OF 2022 AND CONFIRMS FINANCIAL GUIDANCE
Birkenfeld, August 10, 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 June 30, 2022 with the publication of its Half-Year Financial Report H1|2022. The results are consistent with the preliminary business results already reported.
KEY FIGURES 1
Adj. = adjusted / bps = basis points
1 To facilitate comparison, the figures have been adjusted to exclude amortization resulting from acquisition-related purchase price allocations and a provision recognized for expected tax back payments (including interest payments). In the previous year, the figures were also adjusted to exclude an impairment recognized on a proprietary development project in the Diatron segment.
The adjusted EBIT margin for the first half of 2022 amounted to 15.4% (H1/2021: 22.1%) and thus fell 670 basis points short of the previous year’s figure. Alongside negative economies of scale in connection with the temporary reduction in sales volumes, this key figure was also affected by a weaker product and sales mix, as well as by the negative earnings impact of measurement items for currency hedges, some of which involving multiyear transactions. Moreover, the adjustments to the prices of STRATEC products needed to account for higher input costs are in some cases still being implemented.
Given the lower level of operating earnings, adjusted consolidated net income for the first half of 2022 also decreased, in this case from € 28.5 million to € 16.7 million. Adjusted earnings per share (basic) amount to € 1.38 (H1/2021: € 2.36).
To facilitate comparison, the key earnings figures for the first half of 2022 have been adjusted to exclude amortization resulting from acquisition-related purchase price allocations and a provision recognized for expected tax back payments (including interest payments) for the period from 2014 to 2021 (tax expenses: € 2.3 million; interest expenses: € 0.2 million). The previous year’s figures were additionally adjusted to exclude an impairment recognized on a proprietary development project in the Diatron segment. A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Half-Year Financial Report H1|2022 also published today.
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
A further particular focus at present is on preparing serial production for a system solution in the field of digital PCRs. The market launch of this product by our partner, one of the market leaders in molecular diagnostics, is now imminent. Alongside the analyzer system, in this project STRATEC will also produce the complex polymer-based consumables needed to perform the tests and supply these to the partner.
The trend within the IVD industry towards outsourcing automation solutions to specialist companies is continuing unabated. This is reflected in the company’s well-stocked development pipeline. Furthermore, STRATEC is holding numerous promising negotiations with regard to additional development projects.
DEVELOPMENT IN PERSONNEL
HALF-YEAR FINANCIAL REPORT H1|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/audiowebcast20220810 (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:||1416619|
|End of News||DGAP News Service|