Interim / Quarterly Report • Jul 27, 2011
Interim / Quarterly Report
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Interim Report as of June 30, 2011
STRATEC DEVELOPS AND MANUFACTURES FULLY AUTOMATED ANALYZER SYSTEMS BASED ON ITS OWN PATENTED TECHNOLOGIES FOR ITS PARTNERS IN THE FIELDS OF CLINICAL DIAGNOSTICS AND BIOTECHNOLOGY. STRATEC'S PARTNERS ARE MOSTLY GLOBAL PLAYERS OPERATING IN THE IN-VITRO DIAGNOSTICS INDUSTRY. THESE COMPANIES MARKET STRATEC'S SYSTEMS UNDER THEIR OWN NAMES, IN GENERAL TOGETHER WITH THEIR OWN REAGENTS, AS SYSTEM SOLUTIONS TO LABORATORIES, BLOOD BANKS, AND RESEARCH INSTITUTES AROUND THE WORLD.
| 03 | HIGHLIGHTS / KEY GROUP FIGURES AT A GLANCE |
|---|---|
| 04 | FOREWORD BY THE BOARD OF MANAGEMENT |
| 05 | INTERIM GROUP MANAGEMENT REPORT |
| 09 | CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2011 |
| 11 | CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the Period from April 1 to June 30, 2011 |
| 12 | CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the Period from January 1 to June 30, 2011 |
| 13 | STATEMENT OF CHANGES IN GROUP SHAREHOLDERS' EQUITY for the Period from January 1 to June 30, 2011 |
| 15 | CONSOLIDATED CASH FLOW STATEMENT for the Period from January 1 to June 30, 2011 |
| 16 | NOTES TO THE GROUP INTERIM REPORT for the Period from January 1 to June 30, 2011 |
| 18 | ADDITIONAL INFORMATION |
Sales of 1 48.5 million in Q1-Q2/2011 (+12.5%; Q1-Q2/2010: 1 43.1 million)
Increased EBIT margin of 18.7% in Q1-Q2/2011, up from 18.0% in Q1/2011 (Q1-Q2/2010: 18.7%)
Consolidated net income of 1 7.0 million in Q1-Q2/2011 (+14.8%; Q1-Q2/2010: 1 6.1 million)
Earnings per share of 1 0.60 in Q1-Q2/2011 (+13.2%; Q1-Q2/2010: 1 0.53)
Dividend of 1 0.50 per share distributed (dividend total: 1 5.8 million)
2011 sales guidance raised to between 1 114 million and 1 123 million (previously: 1 110 million to 1 123 million)
| in u thousands | 01.01.-06.30.2011 01.01.-06.30.2010 | Change | |
|---|---|---|---|
| Sales | 48,515 | 43,140 | + 12.5% |
| Overall performance | 54,800 | 48,821 | + 12.3% |
| EBITDA | 10,750 | 9,472 | + 13.5% |
| EBIT | 9,078 | 8,056 | + 12.7% |
| Consolidated net income | 6,964 | 6,069 | + 14.8% |
| Earnings per share (1) | 0.60 | 0.53 | + 13.2% |
| EBIT margin (%) | 18.7% | 18.7% | - |
| in u thousands | 06.30.2011 | 12.31.2010 | Change |
| Shareholders' equity | 73,486 | 71,879 | + 2.2% |
| Total assets | 106,837 | 98,836 | + 8.1% |
| Equity ratio (%) | 68.8% | 72.7% | - |
| No. of employees (absolute) |
466 | 440 | + 5.9% |
We can report a very pleasing performance for the second quarter of 2011 and are clearly on course to achieve or even exceed the targets we have set ourselves for the 2011 financial year as a whole. Alongside the detailed information in the press release on the quarterly report published on July 27, 2011, we would like to mention the following events in the past quarter that underline our company's ongoing growth course.
The Annual General Meeting held on April 14, 2011 approved the distribution of a dividend of 1 0.50 per share. Since starting to pay dividends in 2004, STRATEC thus increased its distribution for the seventh consecutive year. A total of 1 5.8 million was therefore paid out to shareholders for the 2010 financial year on the day after the Annual General Meeting.
Based on additional, more detailed information received from customers, in May 2011 STRATEC provided a more specific sales forecast for the current financial year. Accordingly, STRATEC has raised the lower end of its 2011 sales corridor to at least 1 114 million. As previously announced, achievement of the upper end of the forecast range (1 123 million) is dependent on the specific scheduling of further planned market launches and follow-up market launches in the current financial year, as well as on how demand for those systems already on the market continues to develop. Our medium-term expectations for the period 2011 to 2013 still apply without amendment. STRATEC thus expects to generate average sales growth (CAGR) of at least 17% with an EBIT margin of at least 18.5% in 2011 and of at least 19.0% in 2012 and 2013.
Not only that, in the first months of the current financial year we have pressed ahead with measures to optimize our procurement and production processes in order to exploit further savings potential, for example in our materials procurement, and enhance our productivity. These measures are to be viewed in the context of our further growth and the improvement in our cash flow structure.
Birkenfeld, July 2011
The Board of Management of STRATEC Biomedical AG
Marcus Wolfinger Dr. Robert Siegle Bernd M. Steidle
While sales rose to 148.5 million in the first six months of the 2011 financial year, up 12.5% on the previous year's figure (143.1 million), the Group increased its overall performance in the same period by 12.3% to 154.8 million (previous year: 148.8 million). In line with these developments, the cost of materials also rose from 123.9 million to 125.7 million.
Due in particular to the increase in development activities, as well as to the further expansion in production capacities and the acquisition of STRATEC Biomedical USA, Inc. in July of the previous year (increase in personnel expenses from July 1, 2010; Q1-Q2/2010 therefore excluding acquisition-related personnel expenses), personnel expenses rose from 111.5 million to 114.1 million. Given this base effect, we do not expect personnel expenses to increase to any significant extent in the coming quarters.
Other operating expenses increased from 14.2 million to 14.7 million. Here too, it should be noted that STRATEC Biomedical USA, Inc. has only been included in the consolidated figures since July 1, 2010. Depreciation and amortization rose to 11.7 million. STRATEC thus generated consolidated net income of 17.0 million in the period under report (previous year: 16.1 million), corresponding to earnings per share of 10.60 (previous year: 10.53).
Due to the launch of serial production on three development projects, inventories rose from 135.2 million to 143.5 million. At 124.0 million, total receivables and other assets remained more or less unchanged, while cash and cash equivalents reduced from 113.2 million to 111.5 million in the period under report.
The equity ratio amounts to 68.8%. The increase in non-current financial liabilities to 19.5 million was due to the taking up of low-interest loans. The rise in accounts payable was driven by higher procurement volumes for raw materials and supplies. Miscellaneous current liabilities and provisions include an amount of around 19.9 million for prepayments received for development services.
The inflow of funds from operating activities (previous year: outflow) amounted to 12.6 million (previous year: 1-1.2 million). The STRATEC Group invested 11.5 million in the first six months of the 2011 financial year (previous year: 14.2 million), of which 11.3 million in property, plant and equipment (previous year: 13.2 million, especially buildings).
The global economic upturn continued apace in the first months of the current year. In its latest Economic Outlook, the International Monetary Fund (IMF) has forecast global economic growth of 4.3% for 2011. However, the immense debt accumulated by some countries and the resultant potential implications might significantly impede this growth.
The IMF has forecast further growth for the euro area (2.0% in 2011). With expected growth of 3.2% in its economic output in 2011, Germany continues to hold top position in this respect.
For the USA, the IMF expects to see economic growth of 2.5% in 2011. This represents a further slight downward correction compared with the previous forecast.
Global demographic developments represent one of the most serious challenges facing the world. The dynamic growth in the world's population, together with an unprecedented increase in the elderly share of the population and the sharp rise in the number of people with access to medical care, represent key factors which will shape the 21st century. This situation is accompanied by scientific and technological progress, which is opening up ever new possibilities in the fields of medicine, research, diagnostics and life science.
These developments will lead not only to an increase in the numbers of medical tests to be performed, but will also result in new, unique opportunities for which STRATEC is optimally positioned with its automation solutions and on which it will continue to focus its strategy and operations.
In view of the factors outlined above, global economic risks, such as the recent recession, only have a very limited impact on STRATEC's business performance and business model. Moreover, long-term supply agreements with our customers and the fact that the work performed is invoiced almost exclusively in euros further minimize the implications of the crisis for STRATEC.
Based on the latest forecasts and on current information published by our customers, on May 9, 2011 STRATEC released a more specific sales forecast for the 2011 financial year.
Accordingly, STRATEC expects to generate sales in a range of 1114 million to 1123 million (previously 1110 million to 1123 million) with an EBIT margin of at least 18.5% in 2011. Medium-term expectations for the period from 2011 to 2013 remain unaffected by current developments. Accordingly, STRATEC continues to expect to achieve average sales growth (CAGR) of at least 17.0% over these three financial years with an EBIT margin of at least 18.5% in 2011, and at least 19.0% in 2012 and 2013. Achievement or any potential exceeding of the upper end of the sales corridor of 1123 million in 2011 is dependent on the timing of the planned pending market launches of new systems and their approval in the relevant markets.
The systems newly launched onto the market in the past year have shown a promising performance in the new year and form the cornerstone for the growth expected in the second half of the year. Furthermore, in the coming weeks and months we will be creating production capacities for further systems currently in preparation for serial production and expanded production volumes.
Further development projects are progressing on schedule and give reason to expect further system market launches in the coming years.
Of the new contracts expected in 2011, a first development and supply contract has already been signed. Additional negotiations are in advanced stages and provide grounds to affirm our forecast. Further details concerning these contracts will be published once agreements have been reached with the respective customers.
Following the international economic crisis and the resultant economic downturn, the macroeconomic situation has now shown a significant recovery. All industrial sectors are nevertheless still confronted with a low level of budgeting reliability, not least on account of the immense debt accumulated by some countries and the resultant potential implications (debt crisis). This situation continues to harbor risks for STRATEC's customers and suppliers, as a result of which STRATEC also faces economic risks. The ongoing difficult economic climate also means that STRATEC continues to face increased market risk.
Apart from this, since the assessment of the situation of the company provided on February 22, 2011 upon the compilation of the Annual Report for the 2010 financial year, no new information has arisen which could lead to any change in our assessment of the expected development of the company.
We analyze and evaluate the risks facing the company and its business environment within the framework of our risk management system, which has been established as an early warning risk identification system. Furthermore, this system also includes a compliance system to ensure compliance with the relevant legal and industry-specific requirements.
The earthquake and subsequent tsunami in Japan on 11 March 2011 caused great human suffering. Due to efficient risk management, STRATEC has not been affected by any of the supply problems arising in other industries in connection with this catastrophe. Provided the situation in Japan does not show any further unexpected deterioration, then we continue not to expect any implications for STRATEC's supply chain.
STRATEC's business activities basically focus on sustainability and responsible behavior. In future, the company will document this in a sustainability report.
Apart from the factors outlined in the "Report on forecasts and other statements concerning the company's expected development", we do not see any changes compared with the risks and opportunities identified in the Group Management Report for the 2010 financial year dated February 22, 2011. Reference is made to the "Risk Report" section within the 2010 Group Management Report for details concerning our risk management system and our company's specific opportunity and risk profile.
| 06.30.2011 | 12.31.2010 |
|---|---|
| 4,314 | 4,480 |
| 5,568 | 5,678 |
| 16,890 | 16,358 |
| 316 | 342 |
| 312 | 333 |
| 27,400 | 27,191 |
| 10,356 | 7,731 |
| 32,332 | 26,838 |
| 825 | 589 |
| 0 | 3 |
| 17,015 | 15,817 |
| 4,656 | 5,629 |
| 233 | 103 |
| 2,098 | 1,187 |
| 431 | 526 |
| 11,491 | 13,222 |
| 79,437 | 71,645 |
| 98,836 | |
| 106,837 |
| ' EQUITY AND DEBT in u thousands SHARE HOLDERS |
06.30.2011 | 12.31.2010 |
|---|---|---|
| SHAREHOLDERS' EQUITY | ||
| Share capital | 11,639 | 11,569 |
| Capital reserve | 14,620 | 13,915 |
| Revenue reserves | 40,246 | 32,985 |
| Consolidated net income | 6,964 | 13,039 |
| Other equity | 17 | 371 |
| 73,486 | 71,879 | |
| DEBT | ||
| Non-current debt | ||
| Non-current financial liabilities | 9,715 | 7,420 |
| Pension provisions | 321 | 321 |
| Deferred taxes | 1,676 | 2,055 |
| 11,712 | 9,796 | |
| Current debt | ||
| Current financial liabilities | 522 | 588 |
| Trade payables | 5,254 | 2,842 |
| Liabilities to associates | 188 | 88 |
| Other current liabilities | 12,959 | 10,952 |
| Current provisions | 1,282 | 1,496 |
| Income tax liabilities | 1,434 | 1,195 |
| 21,639 | 17,161 | |
| TOTA L SHARE HOLDERS ' EQUITY AND DEBT |
106,837 | 98,836 |
for the Period from April 1 to June 30, 2011 of STRATEC Biomedical AG
| in u thousands | 04.01.-06.30.2011 | 04.01.-06.30.2010 |
|---|---|---|
| Sales | 26,406 | 22,897 |
| Increase in volume of finished and | ||
| unfinished products and unfinished services | 2,676 | 2,567 |
| Other own work capitalized | 387 | 109 |
| Overall performance | 29,469 | 25,573 |
| Other operating income | 335 | 105 |
| Cost of raw materials and supplies | 13,762 | 12,063 |
| Cost of purchased services | 446 | 291 |
| Personnel expenses | 7,137 | 5,987 |
| Other operating expenses | 2,429 | 2,389 |
| EBITDA | 6,030 | 4,948 |
| Amortization of intangible assets and depreciation of property, plant and equipment |
898 | 726 |
| EBIT | 5,132 | 4,222 |
| Net financial expenses | -51 | 37 |
| Operating result (EBT) | 5,081 | 4,259 |
| Current tax expenses | 1,359 | 1,155 |
| Deferred tax income | 289 | 4 |
| Consolidated net income | 4,011 | 3,108 |
| Income and expenses recognized directly in equity (after taxes) | ||
| Currency translation of foreign financial statements | 100 | 859 |
| Comprehensive income | 4,111 | 3,967 |
| Earnings per share in v | 0.34 | 0.27 |
| Number of shares used as basis | 11,609,164 | 11,429,881 |
| Earnings per share, diluted, in v | 0.34 | 0.27 |
| Number of shares used as basis, diluted | 11,691,661 | 11,594,254 |
for the Period from January 1 to June 30, 2011 of STRATEC Biomedical AG
| in u thousands | 01.01.-06.30.2011 | 01.01.-06.30.2010 |
|---|---|---|
| Sales | 48,515 | 43,140 |
| Increase in volume of finished and | ||
| unfinished products and unfinished services | 5,545 | 5,467 |
| Other own work capitalized | 740 | 214 |
| Overall performance | 54,800 | 48,821 |
| Other operating income | 446 | 302 |
| Cost of raw materials and supplies | 24,904 | 23,073 |
| Cost of purchased services | 839 | 811 |
| Personnel expenses | 14,073 | 11,532 |
| Other operating expenses | 4,680 | 4,235 |
| EBITDA | 10,750 | 9,472 |
| Amortization of intangible assets and depreciation of property, plant and equipment |
1,672 | 1,416 |
| EBIT | 9,078 | 8,056 |
| Net financial expenses | -165 | 39 |
| Operating result (EBT) | 8,913 | 8,095 |
| Current tax expenses | 2,264 | 2,006 |
| Deferred tax income (previous year: deferred tax expenses) | 315 | 20 |
| Consolidated net income | 6,964 | 6,069 |
| Income and expenses recognized directly in equity (after taxes) | ||
| Currency translation of foreign financial statements | -559 | 1,128 |
| Comprehensive income | 6,405 | 7,197 |
| Earnings per share in v | 0.60 | 0.53 |
| Number of shares used as basis | 11,577,248 | 11,424,011 |
| Earnings per share, diluted, in v | 0.60 | 0.52 |
| Number of shares used as basis, diluted | 11,691,307 | 11,591,930 |
for the Period from January 1 to June 30, 2011 of STRATEC Biomedical AG
| JANUARY - JUNE 2010 | Revenue reserves | ||||
|---|---|---|---|---|---|
| in u thousands | Share capital | Capital reserve | Retained earnings |
Free revenue reserves |
|
| Balance at 12.31.2009 | 11,446 | 11,167 | 18,893 | 7,540 | |
| Dividend payment | |||||
| Issue of subscription shares from stock option plans, less costs of capital issue after taxes |
36 | 778 | |||
| Allocations due to stock option plans | 108 | ||||
| Allocation to free revenue reserves | 3,000 | ||||
| Profit carried forward | 3,552 | ||||
| Comprehensive income | |||||
| Balance at 06.30.2010 | 11,482 | 12,053 | 22,445 | 10,540 | |
| Januar Y – Jun E 2011 |
||||
|---|---|---|---|---|
| Share capital | Capital reserve | Retained earnings |
Free revenue reserves |
|
| 11,569 | 13,915 | 22,445 | 10,540 | |
| 70 | 771 | |||
| 82 | ||||
| -148 | ||||
| 3,000 | ||||
| 4,261 | ||||
| 11,639 | 14,620 | 26,706 | 13,540 | |
| Revenue reserves |
| Other equity | ||
|---|---|---|
| Currency translation |
Treasury stock | Consolidated net income |
| -435 | -998 | 11,674 |
| -5,122 | ||
| -3,000 | ||
| -3,552 | ||
| 1,128 | 6,069 | |
| 693 | -998 | 6,069 |
| Other equity | |||
|---|---|---|---|
| Group equity | Currency translation |
Treasury stock | Consolidated net income |
| 71,879 | 788 | -417 | 13,039 |
| -5,778 | -5,778 | ||
| 841 | |||
| 82 | |||
| 57 | 205 | ||
| 0 | -3,000 | ||
| 0 | -4,261 | ||
| 6,405 | -559 | 6,964 | |
| 73,486 | 229 | -212 | 6,964 |
for the Period from January 1 to June 30, 2011 of STRATEC Biomedical AG
| in u thousands | 01.01.-06.30.2011 | 01.01.-06.30.2010 |
|---|---|---|
| Consolidated net income | 6,964 | 6,069 |
| Depreciation and amortization | 1,672 | 1,416 |
| Current income tax expenses | 2,264 | 2,006 |
| Income taxes paid less income taxes received | -2,060 | -1,618 |
| Financial income | -88 | -146 |
| Financial expenses | 252 | 107 |
| Interest paid | -157 | -106 |
| Interest received | 58 | 46 |
| Other non-cash expenses | 287 | 319 |
| Other non-cash income | -740 | -314 |
| Cash flow | 8,452 | 7,779 |
| Change in deferred taxes through profit or loss | -315 | 20 |
| Profit on disposals of non-current assets | -116 | 0 |
| Increase in inventories, trade receivables and other assets | -9,717 | -11,973 |
| Increase in trade payables and other liabilities | 4,306 | 2,939 |
| Inflow of funds from operating activities (previous year: outflow) | 2,610 | -1,235 |
| Incoming payments from disposals of non-current assets | ||
| Property, plant and equipment | 134 | 14 |
| Outgoing payments for investments in non-current assets | ||
| Intangible assets | -113 | -204 |
| Property, plant and equipment | -1,311 | -3,218 |
| Prepayments made/assets under construction | -198 | -746 |
| Outflow of funds for investment activities | -1,488 | -4,154 |
| Incoming payments from taking up of financial liabilities | 2,515 | 2,494 |
| Outgoing payments for repayment of financial liabilities | -287 | -573 |
| Incoming payments from issues of shares | ||
| for employee stock option programs | 841 | 814 |
| Dividend payment | -5,778 | -5,122 |
| Outflow of funds for financing activities | -2,709 | -2,387 |
| Cash-effective change in cash and cash equivalents | -1,587 | -7,776 |
| Cash and cash equivalents at beginning of period | 13,222 | 21,187 |
| Change in cash and cash equivalents due to changes in exchange rates | -144 | 255 |
| Cash and cash equivalents at end of period | 11,491 | 13,666 |
for the Period from January 1 to June 30, 2011 of STRATEC Biomedical AG
The consolidated financial statements of STRATEC AG as of December 31, 2010, were prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU valid at the balance sheet date. In the interim report as of June 30, 2011, which has been prepared on the basis of International Accounting Standard (IAS) 34 "Interim Financial Reporting", application has been made of the same accounting methods as in the consolidated financial statements for the 2010 financial year. Application has also been made of all interpretations of the International Financial Reporting Interpretations Committee (IFRIC) with binding effect as of June 30, 2011.
There were no indications of any potential impairment in goodwill at the balance sheet date.
The company's interim reports are neither audited, nor subject to an audit review, by the group auditor, WirtschaftsTreuhand GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Stuttgart.
Reference is made to the consolidated financial statements of STRATEC AG as of December 31, 2010 with regard to further information concerning the individual accounting and valuation methods applied.
The Group's currency is the euro. Unless otherwise indicated, all amounts have been stated in thousand euros (1 thousand).
The breakdown of sales by geographical region represents the distribution of the STRATEC Group's products. As the customers of the STRATEC Group generally supply their country outlets and customers from central distribution centers, however, this breakdown of sales does not represent the geographical distribution of the final operating locations of the STRATEC Group's analyzer systems.
There have been no changes in the segmentation of the Group's results compared with the consolidated financial statements as of December 31, 2010.
Sales can be broken down by geographical regions (customer locations) as follows:
| in u thousands | Germany | EU | Other | Total |
|---|---|---|---|---|
| 9,262 | 29,467 | 9,786 | 48,515 | |
| January - June 2011 | 19.1% | 60.7% | 20.2% | 100.0% |
| in u thousands | Germany | EU | Other | Total |
| 7,474 | 28,012 | 7,654 | 43,140 | |
| January - June 2010 | 17.3% | 65.0% | 17.7% | 100.0% |
The expenses relating to research and project management, and to development services not fulfilling the capitalization criteria set out in IAS 38, amounted to 1 2.6 million in the first six months of the 2011 financial year (previous year: 1 3.1 million). These have been reported, mainly as personnel expenses, in the company's consolidated statement of comprehensive income. Moreover, procurement volumes of around 1 0.5 million (previous year: 1 0.5 million) were incurred during the period under report in connection with materials used in research and development. These have been included in the cost of materials item.
The development in shareholders' equity at the STRATEC Group has been presented in the statement of changes in group shareholders' equity on Pages 13 and 14.
The number of ordinary shares with a nominal value of 1 1.00 each issued by STRATEC AG as of June 30, 2011, amounts to 11,638,895. These are all bearer shares.
As a one-off bonus payment, employees at STRATEC Biomedical AG received a total of 6,425 STRATEC shares from the company's holdings of treasury stock in February and April 2011. Furthermore, a total of 9,457 treasury stock were issued to employees in March 2011 to service stock options exercised by the respective employees within the employee stock option program.
STRATEC AG owned a total of 12,223 treasury stock at the interim balance sheet date. This corresponds to a prorated amount of 1 12,223.00 of the company's share capital and to a 0.11% share of its equity.
| Board of Management/ Managing Directors |
Employees | Total | |
|---|---|---|---|
| Outstanding on 12.31.2010 | 154,500 | 50,964 | 205,464 |
| Issued | 45,000 | 1,800 | 46,800 |
| Exercised | 65,000 | 6,284 | 71,284 |
| Lapsed | 0 | 1,180 | 1,180 |
Members of the Board of Management/ Managing Directors and employees held the following numbers of subscription rights (share option rights) at the interim balance sheet date:
A total of 1,800 and 45,000 stock option rights were granted to company employees and to members of the Board of Management respectively on the basis of option agreements dated February 1, 2011 and March 21, 2011.
Outstanding on 06.30.2011 134,500 45,300 179,800
Members of the Board of Management and employees exercised 65,000 and 6,284 stock option rights respectively in the first half of 2011. A total of 9,457 treasury stock shares were issued and 69,869 shares created from conditional capital to service these stock option rights.
Furthermore, 1,180 stock option rights lapsed during the period under report.
Including temporary employees the STRATEC Group had a total workforce of 466 employees as of June 30, 2011 (previous year: 399).
No events of particular significance with material implications for the business performance of our Group have occurred since the interim balance sheet date.
To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group for the remaining months of the financial year.
| July 27, 2011 | Interim Report as of June 30, 2011 |
|---|---|
| September 29, 2011 | Analysts' event |
| October 26, 2011 | Interim Report as of September 30, 2011 |
Berenberg Bank European Conference, London, UK
Furthermore, based on current planning, STRATEC will also be taking part in the following capital market conferences in 2011:
| August 2011 | Commerzbank Sector Conference, Frankfurt am Main, Germany |
|---|---|
| September 2011 | 8th Annual Goldman Sachs European Medtech and Healthcare Services Conference, London, UK |
| DZ Bank 9th German Healthcare Conference, Zurich, Switzerland | |
| U | BS Global Life Sciences Conference, New York City, USA |
| Jefferies 2011 Global Healthcare Conference, London, UK | |
| November 2011 | WestLB Deutschland Conference, Frankfurt am Main, Germany |
Partially incomplete/subject to amendment
STRATEC Biomedical AG 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: DE 0007289001) 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.
The STRATEC Group consists of the publicly listed parent company STRATEC Biomedical AG and of subsidiaries and second-tier subsidiaries in Germany, the USA, the UK, Switzerland and Romania.
Further information about STRATEC is available on the internet at www.stratec.com.
STRATEC Biomedical AG Gewerbestr. 37 75217 Birkenfeld Germany
Phone: +49 7082 7916-0 Fax: +49 7082 7916-999 [email protected] www.stratec.com
Andreas Künzel Phone: +49 7082 7916-185 Fax: +49 7082 7916-999 [email protected]
Andre Loy Phone: +49 7082 7916-190 Fax: +49 7082 7916-999 [email protected]
Forward-looking statements involve risks: This interim report contains various statements concerning the future performance of STRATEC. These statements are based on both assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we can provide no guarantee of this. This is because our assumptions involve risks and uncertainties which could result in a substantial divergence between actual results and those expected. It is not planned to update these forward-looking statements.
Discrepancies may arise throughout this interim report on account of mathematical rounding up or down in the course of addition.
This interim report is also available in German.
Gewerbestr. 37 75217 Birkenfeld Germany
Phone: +49 7082 7916-0 Fax: +49 7082 7916-999
[email protected] www.stratec.com
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