EQS-News: STRATEC SE
/ Key word(s): Quarter Results
STRATEC REPORTS RESULTS FOR FIRST NINE MONTHS OF 2023
Birkenfeld, October 27, 2023
STRATEC SE, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard, SDAX) today announced its financial results and major events for the period from January 1, 2023 to September 30, 2023 with the publication of its Quarterly Statement 9M|2023.
KEY FIGURES 1
Adj. = adjusted / bp = basis points
1 For comparison purposes, adjusted figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and other non-recurring items (advisory expenses and restructuring costs relating to M&A activities and one-off personnel expenses). In the previous year, the figures were additionally adjusted to exclude a provision for expected back payments of tax (including interest payments).
Notwithstanding the absence of benefits of scale and despite further adverse product mix-related effects, in the third quarter of 2023 STRATEC made its first substantial progress in raising its profitability once again. This improvement was driven in particular by price adjustments agreed and already implemented for a number of major products as well as targeted measures in the areas of human resources and development. These factors enabled STRATEC to significantly increase its adjusted EBIT margin again in the third quarter of 2023 compared with the first half of 2023 (adjusted EBIT margin of 14.8% in Q3/2023). Adjusted EBIT for the first nine months of 2023 therefore amounts to € 16.2 million (9M/2022: € 38.1 million). The adjusted EBIT margin thereby implied for the nine-month period stands at 8.6% (9M/2022: 18.3%).
Given the lower level of operating earnings, adjusted consolidated net income for the first nine months of 2023 reduced from € 29.5 million to € 9.7 million. Adjusted earnings per share (basic) came to € 0.80 (9M/2022: € 2.44).
For comparison purposes, the earnings figures for the first nine months of 2023 have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and other non-recurring items (advisory expenses and restructuring costs relating to M&A activities and one-off personnel expenses). In the previous year, the figures were additionally adjusted to exclude a provision for expected back payments of tax (including interest payments). A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Quarterly Statement 9M|2023 also published today.
Irrespective of the amended sales basis, STRATEC can confirm that its forecast investment volumes for property, plant and equipment and intangible assets will correspond to 6.0% to 8.0% of sales.
This temporary phase, in which available molecular diagnostics test volumes still have to fill the capacities created during the pandemic, is countered by clearly positive developments in other product areas. Examples here include complex sample management, immunohematology, specialist immunoassay solutions, and cross-technology oncology applications. Based on the assessment by the Board of Management, the weakness in demand in the molecular diagnostics market referred to above will improve significantly by the beginning/middle of the coming year. Medium to long-term market dynamics are therefore assessed just as positively as before. Moreover, STRATEC’s strong development pipeline offers additional, highly varied growth potential.
PROJECTS AND OTHER DEVELOPMENTS
Based on its well-stocked development pipeline, STRATEC expects to see further product launches in the coming months as well. Moreover, two major development cooperations are currently being significantly extended.
In addition, STRATEC is holding a wide range of negotiations concerning new development cooperations and witnessing a high level of activity in the associated feasibility studies. In the third quarter of 2023, for example, a development cooperation for multiplex-capable and sensitive diagnostics test applications was initiated with an established partner.
DEVELOPMENT IN PERSONNEL
QUARTERLY STATEMENT 9M|2023
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 www.stratec.com/audiowebcast20231027 (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:||1758579|
|End of News||EQS News Service|