DGAP-News: STRATEC posts record sales for 2011
(firmenpresse) - DGAP-News: STRATEC Biomedical AG / Key word(s): Final Results
STRATEC posts record sales for 2011
28.03.2012 / 07:53
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STRATEC posts record sales for 2011
- Sales at EUR 116.6 million (+14.3%; previous year: EUR 102.0m)
- EBIT at EUR 21.8 million (+24.1%; previous year: EUR 17.6m)
- Consolidated net income at EUR 16.3 million *
(+25.3%; previous year: EUR 13.0m)
- Earnings per share at EUR 1.41 * (+23.7%; previous year: EUR 1.14)
- Current guidance confirmed - new forecast to be specified at the latest
by the Annual General Meeting on May 16, 2012
- Proposed dividend increase to EUR 0.55 per share
(+10.0%; previous year: EUR 0.50)
- Accounting to be converted to cost of sales method in 2012
Birkenfeld, March 28, 2012
STRATEC Biomedical AG, Birkenfeld, Germany, (Frankfurt: SBS; Prime
Standard, TecDAX) today announced its definitive results for the financial
year ending on December 31, 2011 with the publication of its 2011 Annual
Report. These figures, prepared in line with International Financial
Reporting Standards (IFRS), have been audited and granted an unqualified
audit opinion.
Key figures (EUR 000s) 01.01.- 12.31.2011 01.01.- 12.31.2010 Change* adjusted for one-off item of EUR 1.1 million due to routine external tax
Sales 116,558 101,978 +14.3%
Overall performance 122,197 106,732 +14.5%
EBITDA 25,703 20,875 +23.1%
EBIT 21,844 17,609 +24.1%
Consolidated net income * 16,341 13,039 +25.3%
Earnings per share (EUR) * 1.41 1.14 +23.7%
EBIT margin (%) 18.7 17.3 --
audit for 2005 to 2008 financial years. On an unadjusted basis,
consolidated net income amounts to EUR 15.3 million and earnings per share
to EUR 1.32.
Financial performance
STRATEC generated sales of EUR 116.6 million in the 2011 financial year,
thus setting a further new record. This sales growth was driven by a rise
in the number of newly supplied analyzer systems to 2,319, as well as by
higher sales with maintenance and replacement parts. This was achieved even
though not all of the market launches and follow up launches originally
planned by STRATEC's customers for 2011 actually took place. The sales
performance was within our previously announced 2011 guidance range of EUR
114 million to EUR 123 million.
As expected, the share of sales generated with replacement parts and
consumables increased to around 23.5% of total sales. Together with
efficiency enhancements in terms of logistics and production, this led the
EBIT margin to improve to 18.7% (prev. year: 17.3%).
At EUR 16.3 million, consolidated net income adjusted for a one-off tax
back payment of EUR 1.1 million due to a routine external tax audit for the
2005 to 2008 financial years was 25.3% up on the previous year's figure of
EUR 13.0 million. Earnings per share therefore amounted to EUR 1.41
(unadj.: EUR 1.32; prev. year: EUR 1.14).
Outlook and guidance
All indicators and forecasts, as well as our current business performance,
allow us to forecast further substantial growth in our underlying business
in 2012 and to confirm our current guidance for the years2011 to 2013. Our
ability to issue specific forecasts for this year is currently restricted
by external factors, such as market approval by the authorities, the dates
of further market launches, analyzer system generation changes,
macroeconomic market influences, further consolidation in the IVD market,
and planned production ramp-ups for new systems. We plan to specify a
breakdown of our guidance for the years 2012 to 2014 in greater detail at
the latest by the Annual General meeting on May 16, 2012.
Dividend proposal
At the Supervisory Board meeting on Monday, March 19, 2012, it was decided
to propose a 10.0% higher dividend of EUR 0.55 per share for the 2011
financial year for approval by the Annual General Meeting due to be held on
May 16, 2012. Here, the Board of Management and Supervisory Board believed
it important to allow shareholders to participate in the company's positive
performance with a further increase in the dividend, while also maintaining
a good balance between employees' interests, shareholders' interests and
factors relevant to the company's external and organic growth.
Development in staff totals
The workforce of the STRATEC Group has grown further and, including
temporary employees, totaled 503 employees as of December 31, 2011
(previous year: 440). This year-on-year growth in the number of employees
was mainly attributable to the group-wide expansion in development
capacities. Over the past 15 months, the contracts of one quarter of around
50 employees in temporary employment were converted into permanent
employment contracts.
Other events
The company acquired two major new development orders in 2011.These involve
an analyzer system for an existing partner that is expected to be launched
onto the market in 2013, and a development and supply agreement with
Quanterix including a minimum acceptance volume, plus options for STRATEC
to acquire shares in Quanterix.
It is planned to convert the company's accounting in the current 2012
financial year from the total cost method used to date to the cost of sales
method. This move is specifically intended to facilitate better
international comparability. This change will not have any impact on
STRATEC's revenue or earnings figures.
2011 Annual Report
The 2010 Annual Report of STRATEC Biomedical AG can be found of the
company's internet site at www.stratec.com>Investor Relations>IR News>Financial Reports.
Forthcoming dates
The interim report as of March 31, 2012 will be published on April 25,
2012.
The Annual General Meeting of STRATEC Biomedical AG will be held in
Pforzheim on Wednesday, May 16, 2012. The invitation to the Annual General
Meeting will be forwarded to STRATEC shareholders via their depositing
banks in good time ahead of the Annual General Meeting.
About STRATEC
STRATEC Biomedical AG (www.stratec.com) designs and manufactures fully
automated analyzer systems for its partners in the fields of clinical
diagnostics and biotechnology. These partners market such systems, in
general together with their own reagents, as system solutions to
laboratories, blood banks and research institutes around the world. The
company develops its products on the basis of its own patented
technologies.
Shares in the company (ISIN: DE0007289001) are traded in the Prime Standard
segment of the Frankfurt Stock Exchange and are listed in the TecDAX select
index of the German Stock Exchange.
Further information can be obtained from:
STRATEC Biomedical AG
AndréLoy, Investor Relations
Gewerbestr. 37, 75217 Birkenfeld
Germany
Tel: +49 7082 7916-190
Fax: +49 7082 7916-999
ir(at)stratec.com
www.stratec.com
End of Corporate News
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Language: English
Company: STRATEC Biomedical AG
Gewerbestr. 37
75217 Birkenfeld
Germany
Phone: +49 (0)7082 7916 0
Fax: +49 (0)7082 7916 999
E-mail: info(at)stratec.com
Internet: www.stratec.com
ISIN: DE0007289001
WKN: 728900
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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162584 28.03.2012
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