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DGAP-News: STRATEC SE / Key word(s): Quarter Results/Forecast
STRATEC POSTS SUBSTANTIAL GROWTH AND INCREASED PROFITABILITY IN FIRST NINE MONTHS OF 2021
- Sales in 9M/2021 increase by 29.5% at constant-currency to € 225.4 million (9M/2020: € 179.1 million); nominal 25.9%
Birkenfeld, November 11, 2021
STRATEC SE, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard, SDAX) today announced its financial results and major events for the period from January 1, 2021 to September 30, 2021 with the publication of its Quarterly Statement 9M|2021.
KEY FIGURES 1
Adj. = adjusted
1 To facilitate comparison, adjusted figures exclude amortization resulting from acquisition-related purchase price allocations and an impairment recognized on a proprietary development project in the second quarter of 2021.
Adjusted EBIT for the first nine months of 2021 rose by 73.1% to € 48.7 million, compared with € 28.1 million in the previous year. Accordingly, the adjusted EBIT margin improved by 590 basis points to 21.6% (9M/2020: 15.7%). The margin performance was positively influenced by benefits of scale, as well as by a strong sales and product mix and the implementation of efficiency enhancement measures. Moreover, the charges recognized for stock appreciation rights (SARs) were significantly lower than in the previous year.
Consistent with the improvement in operating profitability, adjusted consolidated net income for the first nine months of 2021 also increased, in this case from € 23.8 million in the previous year to € 40.6 million. Adjusted earnings per share (basic) for the first nine months of 2021 rose by 70.1% to € 3.35 € (9M/2020: € 1.97). Unadjusted earnings per share (basic) amounted to € 3.00, up from € 1.55 in the previous year.
To facilitate comparison, key earnings figures have been adjusted to exclude amortization resulting from acquisition-related purchase price allocations and an impairment recognized on a proprietary development project in the Diatron segment in the second quarter of 2021. A reconciliation of the adjusted figures with those reported in the consolidated income statement can be found in the Quarterly Statement 9M|2021 also published today.
In view of the COVID-19 pandemic, STRATEC continues to observe increased volatility in its customers' order behavior. Global supply chains also remain tense and subject to uncertainties. The above guidance therefore specifically includes risk discounts for both sales and product mixes in the fourth quarter of 2021, as well as for potential further increases in logistics costs.
Following the completion in 2020 of the construction measures to convert and extend buildings at the Birkenfeld location, STRATEC expects its investment ratio to decrease in 2021. The company expects total investments in property, plant and equipment and intangible assets in 2021 to correspond to around 6.0% to 8.0% of sales (2020: 10.2%).
PROJECTS AND OTHER DEVELOPMENTS
STRATEC has always accorded great value to sustainable corporate governance and responsible resource handling. In August 2021, STRATEC joined the UN Global Compact, the world's largest corporate sustainability initiative. This move, which has once again underlined STRATEC's commitment to the ten universal principles of the UN Global Compact in the fields of human rights, labor, environment and anti-corruption, represents a further step by the company towards incorporating sustainability considerations into its corporate strategy.
DEVELOPMENT IN PERSONNEL
QUARTERLY STATEMENT 9M|2021
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/audiowebcast20211111 (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.
11.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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