Earnings Release • Oct 28, 2009
Earnings Release
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Corporate | 28 October 2009 07:30
STRATEC on growth course
STRATEC Biomedical Systems AG / Quarter Results/Interim Report
28.10.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
STRATEC on growth course
Birkenfeld, October 28, 2009
STRATEC Biomedical Systems AG today released its figures for the period
January 1, 2009 to September 30, 2009 upon publication of its interim
report as of September 30, 2009.
Key Figures (EUR 000s) 01/01/-09/30/2009 01/01/-09/30/2008 Change
Sales 56,001 44,256 + 26.5%
Overall performance 62,164 48,595 + 27.9%
EBITDA 11,735 8,964 + 30.9%
EBIT 9,775 7,240 + 35.0%
Consolidated net income 7,788 5,701 + 36.6%
Earnings per share (EUR) 0.69 0.50 + 38.0%
EBIT margin (%) 17.5 16.4
Financial performance - The positive development in the company's operating
business is reflected in its sales and earnings figures for the first nine
months of the current financial year and has mainly been driven by strong
demand for existing analyzer systems, as well as for consumables such as
maintenance kits. Moreover, a number of pre-serial systems have also been
supplied in recent months. Serial production of these systems is currently
being launched.
Against this backdrop, the company further boosted its sales by 32.1% to
Euro 19.4 million in the period from July 1, 2009 to September 30, 2009
(Q3/2008: Euro 14.7 million) and generated EBIT of Euro 3.5 million over
the same period (Q3/2008: Euro 2.4 million), equivalent to growth of 45.8%.
The EBIT margin for the third quarter of 2009 amounted to 18.1% (Q3/2008:
16.4%).
Sales for the first nine months of 2009 rose by 26.5% to Euro 56.0 million
(Q1-Q3/2008: Euro 44.3 million) and are thus already at the upper end of
our forecast range, which provides for sales growth of 20% to 30% in the
2009 financial year. EBIT was increased by 35.0% to Euro 9.8 million
(Q1-Q3/2008: Euro 7.2 million). At 17.5% (Q1-Q3/2008: 16.4%), the EBIT
margin for the first nine months of 2009 developed on schedule to reach the
forecast range of 18.5% to 19.5% for the 2009 financial year as a whole.
Project development - Our new developments have shown positive progress.
For the first time in STRATEC's history, four development projects are
simultaneously in the ramp-up phase for serial production. These newly
developed analyzer systems will be launched by our customers in their
respective market segments in the coming months.
To account for these serial launches and for our development pipeline,
which remains full, production capacities in Switzerland are currently
being extended with a new building. The company's main location in
Birkenfeld in Germany is due to be expanded in 2010. The construction
projects will be financed by the cash flow from operations. These measures
will only burden the company's stock of financial funds and depreciation
rate to a minor extent. By extending its production sites, STRATEC will
gain sufficient capacity to do justice to growing demand at our partners.
Personnel development - Given the substantial expansion in our development
divisions and preparations for the serial production of four analyzer
system families, the total workforce of the STRATEC Group rose to 351
employees as of September 30, 2009 (09.30.2008: 274). The workforce has
thus grown by 25 employees compared with June 30, 2009.
Outlook - Our assessment in respect of the aforementioned growth rates for
2009 has been backed up by our positive current business performance. Our
development and production capacities are very well utilized.
The volume of production orders on hand gives grounds to expect further
substantial growth in the fourth quarter of 2009. Furthermore, our planning
indicators point to a continuing positive business performance in the 2010
and 2011 financial years as well.
Furthermore, we are holding talks on promising projects with existing and
potential customers. These lead us to expect further growth driven by new
projects well beyond 2012.
Further details can be found in our interim report as of September 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]
28.10.2009 Financial News transmitted by DGAP
Language: English
Company: 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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