EQS-News: STRATEC SE
/ Key word(s): Quarter Results/Forecast
STRATEC REPORTS RESULTS FOR FIRST NINE MONTHS OF 2022
Birkenfeld, November 3, 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 September 30, 2022 with the publication of its Quarterly Statement 9M|2022.
KEY FIGURES 1
Adj. = adjusted
1 To facilitate comparison, the figures have been adjusted to exclude amortization from acquisition-related purchase price allocations and a tax 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.
Adjusted EBIT amounted to € 38.1 million in the first nine months of 2022, as against € 48.7 million in the previous year. The adjusted EBIT margin stood at 18.3% (9M/2021: 21.6%). The margin thus fell 330 basis points short of the previous year’s level but was nevertheless at the upper end of the target corridor communicated for the full year (16.5% to 18.5%). The lower level of profitability compared with the previous year, which is consistent with expectations, was due among other aspects to negative benefits of scale, a normalization in the product mix, and higher input costs. These factors were countered by a high volume of earnings contributions from development services recognized in the third quarter of 2022.
Given the lower level of operating earnings, adjusted consolidated net income for the first nine months of 2022 also decreased, in this case from € 40.6 million to € 29.5 million. Adjusted earnings per share (basic) amount to € 2.44 (9M/2021: € 3.35).
To facilitate comparison, the key earnings figures for the first nine months 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: € 2.4 million; interest expenses: € 0.2 million). A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Quarterly Statement 9M/2022 also published today.
For 2022, STRATEC still 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
Based on a well-stocked development pipeline, STRATEC expects numerous new product launches for new and existing partners in the coming months and years as well. The pipeline is also benefiting from dynamic developments in terms of reaching agreements for additional development cooperations. This is indicative of the trend observable within the industry towards instrumentation solutions being outsourced to specialist partners such as STRATEC.
DEVELOPMENT IN PERSONNEL
QUARTERLY STATEMENT 9M|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/audiowebcast20221103 (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:||1477763|
|End of News||EQS News Service|