DGAP-News: STRATEC publishes 2012 Annual Report
(firmenpresse) - DGAP-News: STRATEC Biomedical AG / Key word(s): Final Results
STRATEC publishes 2012 Annual Report
18.04.2013 / 07:35
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STRATEC publishes 2012 Annual Report
- Sales at EUR 122.4 million (+5.0%; previous year: EUR 116.6m)
- EBIT at EUR 17.6 million (-19.3%; previous year: EUR 21.8m)
- More than 2,600 analyzer systems shipped (+12.2%)
- Earnings per share at EUR 1.19 (-9.8%; previous year: EUR 1.32)
- Equity ratio at 75.5%
- Reporting based on cost of sales method for first time
- Proposed dividend of EUR 0.50 per share (previous year: EUR 0.55)
- Update in company forecast for 2013 and 2014 planned for H1/2013
Birkenfeld, April 18, 2013
STRATEC Biomedical AG, Birkenfeld, Germany, (Frankfurt: SBS; Prime
Standard, TecDAX) today announced its final results for the financial year
ending on December 31, 2012 with the publication of its 2012 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.- 12.31.2012 01.01.- 12.31.2011 ChangeBusiness and financial performance
Sales 122,424 116,558 +5.0%
EBIT 17,618 21,844 -19.3%
Consolidated net income 13,973 15,282 -8.6%
Earnings per share (EUR) 1.19 1.32 -9.8%
EBIT margin (%) 14.4 18.7 --
The STRATEC Group continued to grow in the past financial year, boosting
the number of analyzer systems supplied from 2,319 in the previous year to
2,602. As a result, the Group's sales rose to EUR 122.4 million, up 5.0% on
the 2011 financial year. This growth was mainly driven by persistently high
demand for established systems, as well for the systems launched onto the
market in the past 24 months. These factors made up for the slight decline
in the share of sales generated with service and spare parts, and for
development payments that are dependent on the respective project stage and
thus can be lumpy over time. Having witnessed an unexpectedly marked
reduction in the third quarter of 2012, sales from service and spare parts
began to show signs of recovery in the fourth quarter and have slightly
improved since then. These sales accounted for around 20.5% of total sales
in 2012 as a whole, compared with 23.4% in the previous year. This is one
of the main reasons for the reduction in the EBIT margin to 14.4%.
The volume of sales from development services, whose recognition depends on
the respective project stage, was relatively weak compared with the
previous year. This stands in sharp contrast to the number and size of
development projects that have been initiated and which will contribute to
the company's further growth from 2015 onwards.
Sales and the EBIT margin were within the ranges communicated in the most
recent company forecast for 2012 (sales: EUR 120 million to EUR 125
million; EBIT: 14% to 16%).
At EUR 14.0 million, consolidated net income fell 8.6% short of the
previous year's figure of EUR 15.3 million. Earnings per share amounted to
EUR 1.19 (previous year: EUR 1.32).
Outlook and guidance
Given our current business performance, and accounting for the latest
indicators and forecasts,we expect to generate further growth accompanied
by slightly higher profitability in the current 2013 financial year. Based
on a recovering contribution of service parts and its high degree of
related sensitivities to overall earnings as well as the favorable
development of Q1/2013 business, we plan to publish an updated company
forecast for the current financial year at the latest by the end of the
first half of 2013.
Dividend proposal
At the Supervisory Board meeting on April 8, 2013, it was decided to
propose a dividend of EUR 0.50 per share for the 2012 financial year for
approval by the Annual General Meeting due to be held on June 6, 2013.
Here, we are maintaining our dividend policy of basing the amount
distributed on our current cash flow situation and future financing needs.
Development in staff totals
The workforce of the STRATEC Group has grown further and, including
temporary employees, totaled 527 employees as of December 31, 2012
(previous year: 503). 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 around a quarter of
the employees in temporary employment were converted into permanent
employment contracts.
Other events
The 2012 financial year saw important follow-up approvals granted in key
markets for two analyzer system families that were launched by our
customers in 2011. Two further systems were presented by our customers at
the end of 2012. These will be supplied in significant quantities for the
first time in 2013. STRATEC's customers are planning further market
approvals for the current year. These should then contribute significantly
towards further sales growth from the coming year onwards.
The IFRS annual financial statements for 2012 have been prepared for the
first time using the cost of sales method. Conversion from the total cost
method previously used is intended to enhance international comparability
of the financial statements with peer group companies. Here, items have in
some cases been reclassified from development to sales-related expenses, a
modification chiefly due to activities in the context of new project
development work.
Furthermore, 2013 will also see a conversion in the method used to value
projects. This conversion results from the adoption of a non-mandatory
recommendation made by the German Financial Reporting Enforcement Panel
(DPR) the implementation of which will be completed during the course of
2013. Further details can be found in the current Annual Report.
2012 Annual Report
The 2012 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, 2013 will be published on May 7, 2013.
The Annual General Meeting of STRATEC Biomedical AG will be held in
Pforzheim on Thursday, June 6, 2013. 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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