DGAP-News: STRATEC reports on first half of 2013
(firmenpresse) - DGAP-News: STRATEC Biomedical AG / Key word(s): Quarter
Results/Interim Report
STRATEC reports on first half of 2013
23.07.2013 / 07:50
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STRATEC reports on first half of 2013
- Sales of EUR 59.4 million in H1/2013
(+8.0%; H1/2012: EUR 55.0 million*)
- EBIT margin of 14.1% in H1/2013
(H1/2012: 17.1%*)
- Flood-related delays expected to be made up in second half
- Consolidated net income of EUR 6.8 million in H1/2013
(-7.8%; H1/2012: EUR 7.4 million)
- Earnings per share of EUR 0.58 in H1/2013
(-7.9%; H1/2012: EUR 0.63)
Birkenfeld, July 23, 2013
STRATEC Biomedical AG (Frankfurt: SBS; Prime Standard, TecDAX) today
announced its results for the period from January 1, 2013 to June 30, 2013
upon the publication of its Interim Report as of June 30, 2013.
Key figures (EUR 000s) 01.01.- 06.30.2013 01.01.- 06.30.2012 Change* 2012 figure adjusted for a one-off item of EUR 3.3 million due to an
Sales 59,381 54,974* + 8.0%
EBIT 8,346 9,423 - 11.4%
EBIT margin (%) 14.1 17.1* - -
Consolidated net income 6,779 7,352 - 7.8%
Earnings per share (EUR) 0.58 0.63 - 7.9%
income-neutral reclassification from unfinished services and prepayments
received upon the write-down of a development project. On an unadjusted
basis, sales for the first half of 2012 amounted to EUR 58.2 million and
the corresponding EBIT margin amounted to 16.2%.
Financial performance
Despite flood-related damages in the second quarter, the company posted a
positive sales performance for the first half of 2013. Adjusted for a
one-off, income-neutral reclassification in the previous year, sales
increased by 8.0% compared with the first six months of 2012.
Notwithstanding delays of around EUR 3 million in services and supplies
related to flood damage, sales in the second quarter of 2013 were stable
year-on-year, with slight growth of 2.7%. STRATEC expects to be able to
make up for these delays in full in the course of the second half of the
year. The damages caused to buildings and materials have been reported to
the respective insurance companies.
Demand in the service and spare parts business continued to develop stably
at slightly improved levels compared to previous months. The reported
flood-related delays in services and supplies, the associated shifts in the
service and spare parts business, as well as cost and scale factors
resulted in an EBIT margin of 13.0% in the second quarter. The EBIT margin
for the first six months amounted to 14.1% and is within the budgeted
framework for the financial year as a whole.
Consolidated net income totaled EUR 6.8 million as of June 30, 2013, as
against EUR 7.4 million in the previous year's period, while earnings per
share decreased correspondingly by 5 cents to EUR 0.58.
Project development
Serial production of two recently launched analyzer systems is to be
stepped up in the second half of 2013. Moreover, further market launches
and approvals of analyzer systems are expected to follow in 2014.
Other developments
The clearance and renovation work associated with the flood damage in June
2013 has been completed and, now that the damages incurred have been
recorded, operations are fully back on track.
On July 12, 2013, STRATEC reported the discontinuation by a customer of a
development and supply agreement. Since then, no new insights have been
gained concerning the discontinuation of this contractual relationship.
Negotiations for compensation for STRATEC are currently underway with the
customer and at present, no more precise details can be provided as to the
nature, amount, or timing of such compensation. Further projects with this
partner and projects with other partners are not affected by the contract
discontinuation.
The distribution of a dividend of EUR 0.56 per share was resolved at the
company's Annual General Meeting in Pforzheim on June 6, 2013.
Developments in staff totals
Including temporary employees, the STRATEC Group had a total of 537
employees as of June 30, 2013 (June 30, 2012: 524). The company's workforce
thus grew by a further 10 employees compared with December 31, 2012.
Outlook and company forecast
STRATEC published a new company forecast on July 12, 2013. In the 2013
financial year, the company expects to generate sales of between EUR 127
million and EUR 138 million with an EBIT margin of 14.0% to 15.5%. Average
annual sales growth of 8% to 12% based on the sales figures for the 2013
financial year is expected in subsequent years. Profitability is expected
to improve slightly, albeit in proportion with the number and scale of new
development orders and the investments involved.
Our ability to issue precise forecasts continues to be impeded by several
external factors, such as capacity utilization rates at installed systems,
the timing of further market launches, the planned production launches for
new systems, further consolidation in the IVD market, and macroeconomic
market factors.
Marcus Wolfinger, Chairman of the Board of Management commented: 'Our new
forecast takes account of a changed situation. One major development
project has been discontinued prematurely. We have also seen larger-scale
fluctuations in our customers' acceptance forecasts, a factor that reduces
STRATEC's budgeting reliability and which is why we have provided a
relatively broad forecast corridor.
We continue to see sustained growth in our industry and, given our young
product portfolio and the systems due to be newly added, we still expect to
be able to generate company growth ahead of the industry average going
forward.'
Further details can be found in our Interim Report as of June 30, 2013
published at www.stratec.com>Investor Relations>IR News>Financial
Reports.
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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23.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: STRATEC Biomedical AG
Gewerbestr. 3775217 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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222383 23.07.2013
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Datum: 23.07.2013 - 07:50 Uhr
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