07.05.2018
STRATEC Biomedical AG DE000STRA555
DGAP-Adhoc: STRATEC reports preliminary Q1 2018 figures
DGAP-Ad-hoc: STRATEC Biomedical AG / Key word(s): Quarter Results/Forecast
STRATEC reports preliminary Q1 2018 figures
07-May-2018 / 21:13 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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STRATEC reports preliminary Q1 2018 figures
Birkenfeld, May 7, 2018
Based on preliminary figures, STRATEC expects to report sales of EUR 41.6
million for the first quarter of 2018 (previous year: EUR 49.5 million).
Year-on-year, this corresponds to a sales decline of 11.8% in constant
exchange rates (reported: -16.0%). This was due in particular to the strong
figures in the previous year, as well as to the specific timing of milestone
payments being recognized as sales. Quarterly sales were also adversely
affected by diverse internal factors at several key customers. Substantially
higher order volumes by these customers are expected in the second half of
the year.
The adjusted EBIT margin for the first quarter of 2018 is expected to amount
to 10.3% and thus to fall 360 basis points short of the previous year's
figure of 13.9%. This corresponds to an adjusted EBIT of EUR 4.3 million,
compared to EUR 6.9 million in the previous year. This year-on-year decline
in profitability is due in particular to the temporary fall in sales volumes
and corresponding absence of benefits of scale. For comparison purposes,
adjusted EBIT excludes amortizations resulting from purchase price
allocations in the context of acquisitions, associated integration expenses,
as well as other one-off items.
This weak start to the financial year is largely consistent with the
expectations already communicated as part of the publication of the 2017
full-year figures. In this context and based on current order forecasts from
customers, STRATEC confirms its financial guidance provided for the 2018
financial year. The company thus still expects to generate organic sales
growth net of exchange rate effects and acquisitions in at least a
mid-single-digit percentage range. Given higher sales contributions from
products newly launched onto the market and the aforementioned shifts in the
timing of sales, STRATEC still expects most of the sales growth budgeted for
2018 to be generated in the second half of the year. The company still
expects to achieve an adjusted EBIT margin at the previous year's level of
around 17%.
The preliminary figures hereby reported and the above guidance for 2018 do
not yet account for any implications resulting from first-time adoption of
IFRS 15. Based on initial, still preliminary assessments, STRATEC expects
IFRS 15 requirements to have only a moderate impact on its earnings,
financial, and asset position.
STRATEC will publish its full set of first-quarter figures on May 15, 2018.
Moreover, a conference call will be held in English on May 15, 2018.
Further information can be obtained from:
STRATEC Biomedical AG
Jan Keppeler, Investor Relations & Corporate Communications
Gewerbestr. 37, 75217 Birkenfeld
Germany
Tel: +49 7082 7916-6515
Fax: +49 7082 7916-9190
[email protected]
www.stratec.com
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07-May-2018 CET/CEST The DGAP Distribution Services include Regulatory
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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: [email protected]
Internet: www.stratec.com
ISIN: DE000STRA555
WKN: STRA55
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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683291 07-May-2018 CET/CEST
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