DGAP-News: STRATEC Biomedical AG / Key word(s): Quarter
Results/Interim Report
STRATEC remains on track in first quarter of 2015
29.04.2015 / 07:32
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STRATEC remains on track in first quarter of 2015
- Sales of EUR 34.5 million in 3M/2015 (+0.5%; 3M/2014: EUR 34.4 million)
- EBIT of EUR 5.8 million in 3M/2015 (+9.7%; 3M/2014: EUR 5.3 million*)
- EBIT margin of 16.9% in 3M/2015 (+140 basis points; 3M/2014: 15.5%*)
- Earnings per share of EUR 0.40 in 3M/2015 (+8.1%; 3M/2014: EUR 0.37*)
- Ongoing strong cash flow performance /
free cash flow up 17.3% on previous year
- Major middleware software contract concluded
- Proposed dividend of EUR 0.70 per share for 2014
(distribution in previous year: EUR 0.60)
Birkenfeld, April 29, 2015
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard,
TecDAX) today announced its results for the period from January 1, 2015 to
March 31, 2015 upon the publication of its Interim Report as of March 31,
2015.
<pre>
Key figures (EUR 000s) 01.01.- 03.31.2015 01.01.- 03.31.2014 Change
Sales 34,547 34,370 +0.5%
EBIT 5,840 5,326* +9.7%
EBIT margin (%) 16.9 15.5* +140 bps
Consolidated net income 4,739 4,372* +8.4%
Earnings per share (EUR) 0.40 0.37* +8.1%
</pre>
bps = basis points
* 2014 figure adjusted to exclude a one-off negative item resulting from
the recognition in the first quarter of expenses for the remaining years of
the term of a management board contract for a retired member of the Board
of Management. Unadjusted results for the first quarter 2014 EBIT amounted
to EUR 4.4 million; the corresponding EBIT margin amounted to 12.7%,
consolidated net income to EUR 3.7 million and earnings per share to EUR
0.31. The actual amount of the aforementioned expense item may differ at
the time of payment from the amounts presented here.
Financial performance
First-quarter sales increased year-on-year by 0.5% to EUR 34.5 million.
Profitability improved significantly compared with the previous year. The
EBIT margin rose to 16.9%, up from 15.5% in the previous year (unadjusted
2014 figure: 12.7%). Year-on-year, EBIT grew by 9.7% to EUR 5.8 million,
consolidated net income by 8.4% to EUR 4.7 million, and earnings per share
by 8.1% to EUR 0.40. The first-quarter tax rate in 2015 amounted to 19.8%.
The ongoing positive trend in the free cash flow, which grew from EUR 7.6
million in the first quarter of the previous year to EUR 9.0 million in Q1
2015, led cash and cash equivalents to rise to EUR 58.6 million at the
reporting date on March 31, 2015.
Dividend proposal
Given STRATEC's positive business performance in 2014 and its ongoing
strong long-term prospects, the Board of Management and Supervisory Board
of STRATEC Biomedical AG will propose the distribution of a dividend of EUR
0.70 per share with dividend rights for the 2014 financial year for
approval by the Annual General Meeting on May 22, 2015 (distribution in
previous year: EUR 0.60). Subject to approval by the Annual General
Meeting, shareholders can thus expect to benefit from the eleventh
consecutive dividend increase since payment of the first dividend in 2004.
We thus intend to uphold our continuity-based dividend policy, which
involves a distribution quota of 40 to 60 percent. STRATEC will continue to
focus on external and internal growth opportunities, which may result in
temporary deviations from this distribution quota. These opportunities may
take the form of acquisitions or potential up-front financing for major
projects.
Development in personnel
The STRATEC Group had a total of 546 employees as of March 31, 2015. This
total, which includes personnel hired from a temporary employment agency
and trainees, remains unchanged compared to the figure at the previous
year's reporting date. Savings generated from enhancing efficiency and
focusing production depth were offset by higher staff totals in the
development division in particular.
Given ongoing demand for a combination of analyzer system deliveries and
our research and development services, we continue to seek well-qualified
personnel, especially in the development division.
Projects and other developments
The data management business has signed a major contract with a leading
global diagnostics company for the development of a middleware software
solution.
STRATEC is continuing to focus on achieving further key development
milestones, further market launches, and finalizing negotiations for new
development and production contracts through this year.
The spare parts and services business has continued to perform very
solidly. The expansion in production and development capacities is set to
play a major role in the coming quarters. STRATEC plans, for example, to
construct a proprietary development building at its site in Romania. The
groundbreaking ceremony is due to take place in the coming days.
The shell construction for the extension to production areas at the
Beringen location in Switzerland, which will boost the STRATEC Group's
production capacities by around 20%, will be complete by the beginning of
2016.
Financial forecast remains valid
In line with our expectations, the performance apparent to date in the
second quarter of 2015 is consistent with that seen in the first three
months and we expect to see slight sales growth in the second half of the
year. For the 2015 financial year as a whole, we expect slight sales growth
compared with 2014 and a slight increase in the EBIT margin.
The targets set out in our financial forecast first communicated in July
2013, which provides for average annual sales growth of eight to twelve
percent through to 2017 accompanied by increasing profitability, remain
valid. The results are expected to fall below or exceed this range in
individual years, as most recently reported for the 2014 financial year.
As well as pursuing the opportunities offered by organic growth, STRATEC is
increasingly also reviewing inorganic opportunities, which would enable the
company to generate faster growth in key areas or to access new niche
markets. All activities will serve to broaden the share of the value chain
we can offer to our customers. However, a key priority in our evaluation of
such prospects will be to avoid entering into any competitive situation
with existing or potential partners.
Interim Report as of March 31, 2015
Further details can be found in our Interim Report as of March 31, 2015,
which has been published today on the company's homepage at
www.stratec.com/financial_reports.
Forthcoming dates
The Annual General Meeting of STRATEC Biomedical AG will be held in
Pforzheim on May 22, 2015. 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
André Loy, Investor Relations
Gewerbestr. 37, 75217 Birkenfeld
Germany
Tel: +49 7082 7916-190
Fax: +49 7082 7916-999
ir@stratec.com
www.stratec.com
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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@stratec.com
Internet: www.stratec.com
ISIN: DE0007289001
WKN: 728900
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP News-Service
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350069 29.04.2015
DGAP-News: STRATEC remains on track in first quarter of 2015
| Source: EQS Group AG