Earnings Release • Aug 5, 2009
Earnings Release
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Corporate | 5 August 2009 07:10
STRATEC – Strong half-year figures affirm growth forecast for 2009
STRATEC Biomedical Systems AG / Half Year Results/Interim Report
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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STRATEC - Strong half-year figures affirm growth forecast for 2009
Birkenfeld, August 5, 2009
STRATEC Biomedical Systems AG today released its figures for the period
January 1, 2009 to June 30, 2009 upon publication of its interim report as
of June 30, 2009.
Key Figures (EUR 000s) 01/01/-06/30/2009 01/01/-06/30/2008 Change
Sales 36,552 29,548 + 23.7%
Overall performance 40,355 32,102 + 25.7%
EBITDA 7,526 6,016 + 25.1%
EBIT 6,231 4,862 + 28.2%
Consolidated net income 4,894 3,849 + 27.1%
Earnings per share (EUR) 0.43 0.34 + 26.5%
EBIT margin (%) 17.1 16.5
The second quarter of 2009
Financial performance - As forecast, and as far as our company is
concerned, developments in the field of in-vitro diagnostics have remained
virtually unaffected by the current economic climate and the global
financial crisis. Indeed, sales into all of our major customers continue to
develop positively. At Euro 36.6 million in the first half of 2009
(previous year: Euro 29.5 million), sales grew by 23.7%, and thus within
our forecast range, which foresees sales growth of between 20% and 30% for
the 2009 financial year. With EBIT of Euro 6.2 million (previous year: Euro
4.9 million), we achieved an EBIT margin of 17.1% (previous year: 16.5%).
In the period from April 1, 2009 to June 30, 2009, we increased our sales
by 21.3% to Euro 19.8 million (Q2 2008: Euro 16.3 million). Over the same
period, we generated EBIT of Euro 3.5 million (Q2 2008: Euro 2.8 million),
equivalent to growth of 27.5%. The EBIT margin for the second quarter of
2009 amounted to 17.8% (previous year: 16.9%).
Project development - We are pleased to report very positive news on the
development status of our new systems. Prototypes and validation units have
been and continue to be delivered for all new systems whose market launches
are scheduled by our customers for the coming quarters. In some cases,
customers have already granted approval for the respective systems, and we
are pressing ahead with serial production in all cases. In view of this, we
expect to be able to significantly increase the number of analyzer systems
delivered from the third quarter of 2009 onwards.
Moreover, sales of one analyzer system whose turnover was marked by weak
developments in the past year and which had already recovered notably in
the first quarter of 2009 were significantly higher again in the second
quarter of 2009. Indeed, the binding order placed for deliveries of this
analyzer system by the end of this year enables sales volumes with the
corresponding customer to be extrapolated to a level above the strong
performance seen in 2007. What's more, based on market developments and
various measures taken by the respective customer, we also expect to see a
further increase in purchasing volumes.
Other highlights - The integration of Invitek Gesellschaft für Biotechnik
& Biodesign mbH, a company acquired in April 2009 which specializes in
particular in purifying nucleic acids for OEM customers, is progressing to
schedule. Alongside technology synergies, the first cross-selling
discussions are already underway with potential new customers and existing
STRATEC customers interested in extending their systems to include the
services offered by Invitek.
Due to this acquisition, and in particular because of the significant
expansion of our development departments, the Group's total workforce grew
to 325 as of June 30, 2009 (previous year: 267).
Outlook - In view of the scheduled progress made on our current development
projects, and given the call-up orders and forecasts received from our
customers to date, we continue to expect our business to develop very
positively in the current year. Specifically, all business indicators
affirm the validity of the guidance issued for 2009. Accordingly, we
continue to expect the STRATEC Group to achieve sales growth of between 20%
and 30% in 2009, with an EBIT margin of between 18.5% and 19.5%.
Further details can be found in our interim report as of June 30, 2009,
which has been published under www.stratec-biomedical.de > IR News >
Financial Reports.
About STRATEC
STRATEC Biomedical Systems AG (http://www.stratec-biomedical.de) designs
and manufactures fully automated 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: [email protected]
05.08.2009 Financial News transmitted by DGAP
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: [email protected]
Internet: www.stratec-biomedical.de
ISIN: DE0007289001
WKN: 728900
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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