STRATEC Biomedical Systems AG / Final Results
08.04.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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STRATEC publishes final figures for the 2008 financial year and expects
strong growth in 2009
- Sales of Euro 61 million
- Consolidated net income of Euro 8.2 million *
- EBIT margin of 18.4%
- Record dividend of Euro 0.35 per share (+59%) due to very good business
outlook and strong cash position
- Equity ratio of 71.3%
- 2009 financial guidance for sales growth of between 20% and 30% and
EBIT margin of between 18.5% to 19.5% forecast for 2009
- Further growth in employee totals
* Excluding a non-operative one-off expense of Euro 2.1 million due to a
valuation adjustment
Birkenfeld, April 8, 2009
With the publication of its 2008 Annual Report today, STRATEC Biomedical
Systems AG has announced its final figures in accordance with IFRS for the
2008 financial year. These have been audited and granted an unqualified
audit opinion.
Financial report
STRATEC recorded sales of Euro 60.97 million (previous year: Euro 67.53
million), EBIT of Euro 11.23 million (previous year: Euro 14.32 million)
and EBT of Euro 11.48 million * (previous year: Euro 14.52 million) in the
2008 financial year. Consolidated net income amounted to Euro 8.2 million *
(previous year: Euro 10.0 million). Earnings per share amounted to Euro
0.72 (previous year: Euro 0.88) and to Euro 0.54 prior to adjustment.
The EBIT margin amounted to 18.4% despite higher costs due to increased
research activity and preparations for the forthcoming market launches of
new systems in 2009.
At Euro 19.2 million, the volume of cash holdings as of December 31, 2008
remained at a constant level (previous year: Euro 19.9 million). The equity
ratio amounted to 71.3% (previous year: 72.6%).
Dividend proposal
In view of the company's excellent capital resources and increasingly
positive business outlook, a 59% increase in the dividend to Euro 0.35 per
share with dividend entitlement (previous year: Euro 0.22) is to be
proposed to the Annual General Meeting for approval.
Personnel development
The total number of employees increased further during 2008 to 284 at the
end of the year (previous year: 270). This trend is set to continue through
2009. STRATEC is therefore making a valuable contribution to the
development of the regional economy, even in a difficult broader economic
climate.
Other highlights of the 2008 financial year
The technical development status achieved for new systems (as defined by
the achievement of scheduled milestones) has been confirmed by our
customers and is consistent with the agreed schedule of market launches for
2009 and 2010. Substantial technological progress has been made in this
respect and will help STRATEC's customers and partners achieve and maintain
their competitive positions in the diagnostics market.
STRATEC was able to announce the conclusion of further major contracts in
the 2008 financial year, and these will serve as a foundation for Company's
growth in the coming years. They include agreements with QIAGEN, Bio-Rad
and One-Lambda. The Company also achieved the progress level scheduled for
the development of future system platforms, whose technology will find
additional application in future systems at partners.
As a result of the agreements announced in the past two years for the
development of new molecular diagnostics systems, STRATEC is also playing a
leading role as an independent instrumentation partner in this fast-growing
segment of the in-vitro diagnostics market.
'The 2008 financial year was characterized by preparations for the
forthcoming market launches of four new analyzer systems in 2009 and 2010,'
commented Hermann Leistner, Chairman of the Board of Management of STRATEC
Biomedical Systems AG. 'In a similar vein to progress made between 2002 and
2005, we have therefore laid the foundation for the next stage in the
Company's growth. Even though sales fell short of expectations in 2008, the
current development in turnover across our customers, and the market
launches expected in 2009 and 2010, give us reason to look to the future
with great confidence.'
New guidance figures - sales growth of 20% to 30% in 2009, positive
long-term outlook
The forthcoming market launches of a total of four new analyzer systems and
high visibility of a majority of call-up commitments made by customers mean
that STRATEC is able to issue a positive forecast concerning developments
in the current financial year. Specifically, the Company expects to
generate sales growth of between 20% and 30% in 2009, achieving an EBIT
margin of between 18.5% and 19.5%.
Due to significant growth in the volumes of analyzer systems to be placed
in 2009 and especially in 2010, we expect to achieve a similar level of
sales growth, with slight margin growth, in 2010.
STRATEC is currently involved in negotiations with existing and potential
customers concerning several long-term development and production projects.
Moreover, a number of partners have expressed their interest in extending
their business relationship with STRATEC in the coming years in connection
with the development of next generation system solutions. In view of this,
as well as of the increasing trend towards outsourcing instrumentation
among diagnostics companies, STRATEC sees great potential for long-term
growth beyond 2010.
Finally, and due to its strong cash position and treasury stock holdings,
STRATEC believes that it is well-equipped to make selected future
acquisitions with the aim of further extending the Company's technology
pool.
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 08.04.2009
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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
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DGAP-News: STRATEC publishes final figures for the FY 2008 and gives outlook
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