STRATEC SE
STRATEC POSTS RESULTS FOR FIRST QUARTER OF 2023 AND CONFIRMS FINANCIAL GUIDANCE
EQS-News: STRATEC SE
/ Key word(s): Quarter Results/Forecast
STRATEC POSTS RESULTS FOR FIRST QUARTER OF 2023 AND CONFIRMS FINANCIAL GUIDANCE
Birkenfeld, April 28, 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 March 31, 2023 with the publication of its Quarterly Statement Q1|2023. KEY FIGURES 1
Adj. = adjusted BUSINESS PERFORMANCE Adjusted EBIT stood at € 3.8 million in the first quarter of 2023, compared with € 15.0 million in the previous year’s quarter. As a result, the adjusted EBIT margin amounted to 6.3% (Q1/2022: 19.9%) and was, as expected, adversely affected by negative effects of scale, changes in the product mix, and higher input costs due to inflation. The development in the first-quarter margin was also negatively influenced by lower efficiency rates seen at the start of serial production for products newly launched onto the market. In keeping with the marked reduction in current operating profitability, adjusted consolidated net income for the first quarter of 2023 also fell, in this case from € 11.9 million in the previous year to € 2.1 million. Adjusted earnings per share (basic) came to € 0.18 (Q1/2022: € 0.99). For comparison purposes, the earnings figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and other non-recurring items (including consulting expenses in connection with M&A activities). A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Quarterly Statement Q1|2023 also published today. INITIATION OF EARNINGS IMPROVEMENT PROGRAM The program is expected to involve earnings improvement potential of € 10.0 million to 15.0 million (before taxes) in 2024 compared with the original company budget. This earnings improvement potential does not account for additionally anticipated effects relating to the product and sales mix or for rising efficiency in the serial production of systems recently launched onto the market. FINANCIAL GUIDANCE For the 2023 financial year, STRATEC is still budgeting investments in property, plant and equipment and intangible assets corresponding to a total of 6.0% to 8.0% of sales (2022: 6.9%). The above guidance figures do not account for those effects of the earnings improvement program for 2023 that are already possible. PROJECTS AND OTHER DEVELOPMENTS Furthermore, several products recently launched onto the market are in a dynamic start-up phase of serial production. Key production efficiency milestones were already reached in recent weeks and the procurement of necessary input products secured. STRATEC also expects to see further market launches in the coming months. One notable example is a product version for a flow cytometry flow solution that has been extended to include additional functions. DEVELOPMENT IN PERSONNEL QUARTERLY STATEMENT Q1|2023 FORTHCOMING DATES 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/audiowebcast20230428 (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. ABOUT STRATEC 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. FURTHER INFORMATION IS AVAILABLE FROM:
28.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
Language: | English |
Company: | STRATEC SE |
Gewerbestr. 37 | |
75217 Birkenfeld | |
Germany | |
Phone: | +49 (0)7082 7916 0 |
Fax: | +49 (0)7082 7916 999 |
E-mail: | info@stratec.com |
Internet: | www.stratec.com |
ISIN: | DE000STRA555 |
WKN: | STRA55 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1619635 |
End of News | EQS News Service |
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