Corporate | 21 July 2016 07:45
STRATEC – Results for 1st Half of 2016 and new Financial Guidance
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DGAP-News: STRATEC Biomedical AG / Key word(s): Half Year Results/Interim Report
STRATEC – Results for 1
st
Half of 2016 and new Financial Guidance
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard, TecDAX) today announced its financial results for the period from January 1, 2016 to June 30, 2016 with the publication of its interim report as of June 30, 2016.
bps = basis points
STRATEC announced the acquisition of two companies – Diatron and Sony DADC BioSciences (now STRATEC Consumables), – in March and June respectively of the current financial year. These transactions have been successfully completed and work has begun on integrating the new units into the STRATEC Group’s activities and structures.
At STRATEC, the first six months of 2016 were characterized by a strong performance in the second quarter and the announcements of both acquisitions. The following comments on the Group’s results refer to the figures adjusted to exclude the one-off items relating to the acquisitions.
Financial performance
Six-month EBIT rose 5.3% to EUR 12.6 million. Due to the benefits of scale taking effect once again in the second quarter, the Group achieved an organic EBIT margin of 17.5%. The EBIT margin for the first half of 2016 came to 16.2%. The non-recurring items excluded for comparison include transaction and integration expenses of EUR 1.2 million and write-downs of EUR 1.5 million recognized upon the purchase price allocation for the Diatron Group. In addition, the second quarter of 2016 saw the recognition of non-recurring items, amounting to EUR 1.4 million, arising from the near complete external tax audit for the periods from 2009 to 2013. Excluding this item, consolidated net income for the first half amounted to EUR 10.3 million and was a 5.1% increase on the previous year’s equivalent figure. As a result, earnings per share rose by 5.3% to EUR 0.87 (previous year: EUR 0.83). Following the distribution in June of EUR 8.9 million in dividends, outflows of around EUR 97 million for two company acquisitions, and the commencement of EUR 68 million in short-term loans, cash and cash equivalents came to EUR 22.4 million at the reporting date on June 30, 2016.
The equity ratio of STRATEC AG amounted to 53.2% as of June 30, 2016. The bridge financing taken up for the acquisitions is to be converted before the end of the year into medium to long-term financing facilities.
Financial forecast
According to its most recent financial forecast, STRATEC expects its average annual sales growth, excluding newly acquired companies, to amount to around 6% in 2016 and 2017.
Acquisitions of Diatron and Sony DADC BioSciences
The acquisition of Diatron, announced on March 23, 2016, has extended STRATEC’s technology portfolio to include hematology and clinical chemistry for use in both human and veterinary diagnostics. Based in Budapest, Hungary, Diatron focuses in particular on low throughput and point-of-care solutions. This provides STRATEC with substantial new technology and expertise when it comes to producing smaller systems and modules. The Diatron Group has been included in STRATEC’s scope of consolidation since April 1, 2016.
This acquisition was followed on June 8, 2016 by the announcement of the takeover of Sony DADC BioSciences in Anif, near Salzburg, Austria. This company unit, which will be consolidated from July 1, 2016 onwards and is now known as STRATEC Consumables, specializes in the development and production of smart consumables. These product solutions, which complement each other ideally, have already been used in joint development projects with various customers.
Annual General Meeting and dividend proposal
Development in personnel
Projects and other developments
The new premises in Switzerland were occupied in the first half of 2016 and the new building in Romania is expected to be completed in the third quarter of 2016. STRATEC is also examining further measures to optimize locations with the aim of adjusting the company’s future structures in line with its expected growth.
Interim report as of June 30, 2016
About STRATEC
Die Partner vermarkten die Systeme, Software und Verbrauchsmaterialien weltweit als Systemlösungen, in der Regel gemeinsam mit ihren Reagenzien, an Laboratorien, Blutbanken und Forschungseinrichtungen. STRATEC entwickelt seine Produkte mit eigenen patentgeschützten Technologien. Die Aktien der Gesellschaft (ISIN: DE000STRA555) werden im Marktsegment Prime Standard an der Frankfurter Wertpapierbörse gehandelt und gehören dem Auswahlindex TecDAX der Deutschen Börse an.
Further information can be obtained from:
2016-07-21 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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