STRATEC Biomedical Systems AG / Forecast/Profit Warning
30.09.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
STRATEC adjusts sales and earnings forecast for 2008
Birkenfeld, September 30, 2008
Having today received a binding purchase forecast from a major customer for
the fourth quarter of 2008, the Board of Management of STRATEC Biomedical
Systems AG, which is listed in the Prime Standard (ISIN: DE0007289001), no
longer expects to be able to achieve its sales and earnings targets in full
for the 2008 financial year.
Based on the adjusted budget, the company expects to generate sales of more
than Euro 60 million and earnings before taxes (EBT) of more than Euro 11.5
million in the 2008 financial year. The slight margin reduction is
attributable to development expenses incurred now for analyzer systems due
to be launched onto the market in coming years.
This adjustment to the sales and earnings forecast is the result of the
customers unexpectedly high volume of stock, which is currently being
reduced and has therefore led to a loss of orders for the final quarter.
The unexpectedly high volume of stock is in turn attributable to this
customer undergoing a phase of transition in connection with an
acquisition. Neither the implications of the financial crisis nor the
euro/dollar exchange rate played any role in the adjustment to the sales
and earnings forecast for 2008.
Current purchase forecasts from this and other customers, coupled with the
pending market launch of systems currently in the final stages of the
development pipeline, mean that there is substantial growth potential from
2009 onwards. STRATEC therefore expects to be able to achieve its
previously published average annual growth rates (CAGR 2009 - 2011) of more
than 11% for sales and more than 18% for earnings before taxes (EBT). In
particular, considerably stronger growth is now expected for 2009 given
this reduction in the estimates for 2008.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
The long-term structure of our business model, which focuses on several
select market leaders as customers, means that temporary fluctuations may
arise in the development of sales in individual financial years as a result
of collection delays like that outlined above. This was most recently also
the case in the 1998 and 2002 financial years. Alongside these risks, the
business model also harbors enormous opportunities, as new development
projects can lead to very strong sales growth.
In view of the development orders on hand and its business with existing
customers, the company expects to be able to achieve significant growth in
coming years once again.
The preliminary unaudited consolidated figures pursuant to IFRS of the
STRATEC Group for the first nine months of the 2008 financial year are
expected to be published in the final week of October (calendar week 44).
The extensive 'Interim report as of September 30, 2008' will be available
for
downloading from our internet site from around 3 p.m. (CET) on November 18,
2008.
About STRATEC
STRATEC Biomedical Systems AG (http://www.stratec-biomedical.de) 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, 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.
The STRATEC Group consists of the publicly listed parent company STRATEC
Biomedical Systems AG and of subsidiaries and second-tier subsidiaries in
Germany, the USA, the UK, Switzerland and Romania.
Further information can be obtained from:
STRATEC Biomedical Systems AG
André Loy, Investor Relations
Gewerbestr. 37, 75217 Birkenfeld
Germany
Phone: +49 7082 7916 190
Fax: +49 7082 7916 999
Email: ir@stratec-biomedical.de
DGAP 30.09.2008
---------------------------------------------------------------------------
Language: English
Issuer: STRATEC Biomedical Systems AG
Gewerbestraße 37
75217 Birkenfeld
Deutschland
Phone: +49 (0)7082 7916 0
Fax: +49 (0)7082 7916 999
E-mail: info@stratec-biomedical.de
Internet: www.stratec-biomedical.de
ISIN: DE0007289001
WKN: 728900
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Stuttgart, München, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: STRATEC adjusts sales and earnings forecast for 2008
| Source: EQS Group AG