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STRATEC SE Investor Presentation 2021

Aug 6, 2021

416_ip_2021-08-06_0bc4bd9e-fd08-46b8-8c04-664b6adac64f.pdf

Investor Presentation

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STRATEC H1 2021 FINANCIAL RESULTS

Birkenfeld, 2021-08-06

Forward-looking statements involve risks.

This company presentation 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.

1. H1 2021 AT A GLANCE

    1. FINANCIAL REVIEW
    1. OUTLOOK
    1. Q&A
    1. APPENDIX

  • • Sales up by 36.0% at constant exchange rates to € 155.8 million with double digit growth rates in all three segments (Instrumentation, Diatron and Smart Consumables)

  • • Adjusted EBIT margin improvement of 670 basis points to 22.1%; driven by scale effects and product mix; strong profitability upswing in Smart Consumables segment
  • •Operating cash flow boosted by 180% to € 33.3 million
  • •Number of employees up by 4.9% to 1,400
  • • STRATECs proprietary random access immunoassay platform KleeYa® was brought to the market by a first customer in Q2

1. H1 2021 AT A GLANCE

2. FINANCIAL REVIEW

    1. OUTLOOK
    1. Q&A
    1. APPENDIX

FINANCIALS AT A GLANCE

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bps = basis points

For comparison purposes, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions and an impairment for a proprietary development project in the Diatron Segment. For more details please see appendix.

2Results from continuing operations.

SALES

Sales in € million

78.0100.788.9108.6119.4155.8020406080100120140160H1/16 H1/17 H1/18 H1/19 H1/20 H1/21 H1/2021 sales up 30.5% yoy to € 155.8 million

  • • High demand for product groups relevant to COVID-19 testing
  • •Recovery in routine testing applications
  • • Growth contribution of newly launched products

36.0% at constant currency

As of June 30

SALES BY OPERATING DIVISIONS

9.9% 7.0%34.1%31.2%55.8% 61.5%0%20%40%60%80%100%H1 2020 H1 2021

SystemsDevelopment & services

In % of total sales

Service parts and consumables Others

CER = Constant exchange rates

As of June 30

H1 2021 FINANCIAL RESULTS – AUGUST 6, 2021 8

ADJUSTED EBIT AND EBIT MARGIN

H1/2021 EBIT up 87.1% yoy to € 34.5 million

H1/2021 adjusted EBIT margin at 22.1%

Margin expansion of 670 bps yoy

(+) Economies of scale

(+) Product mix

(+) Efficiency enhancements

(+) Lower burden from stock appreciation rights (SARs)

As of June 30

SEGMENT PERFORMANCE

Instrumentation

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Strong growth with COVID-19-related product groups, new launches and pick up of immunohematology business

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Diatron

Strong growth with molecular diagnostics products

Smart Consumables

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Transition from development revenues to end product sales

CASH FLOW AND NET DEBT

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1 Includes incoming payments of € 1.9 million from sale of companies previously consolidated

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  • • Strong improvement in operating cash flow dynamics despite still elevated inventory needs
  • • Investment ratio1 at 6.7% of sales versus 9.7% in H1/2020
  • • Net debt down by 12.0% versus fiscal year end 2020Net debt / LTM EBITDA of 1.1x

1 Total investments in intangible and tangible assets in % of sales

LTM = Last twelve months

1. H1 2021 AT A GLANCE

2. FINANCIAL REVIEW

3. OUTLOOK

    1. Q&A
    1. APPENDIX

FINANCIAL GUIDANCE FOR FISCAL YEAR 20211

  • •Constant-currency sales growth of at least 12.0%
  • •Adjusted EBIT margin of around 17.5% to 18.5% (2020: 16.7%)
  • •Investments in tangible and intangible assets combined of around 6.0% to 8.0% of sales

1 The above guidance is based on a planning scenario which assumes that the vaccines currently available will remain highly effective against new virus mutations and that further major waves of infection can be avoided in North America and Europe. Furthermore, STRATEC continues to observe a high level of volatility in its customers' order behavior. This volatility is tending to increase overall. In view of this, some customer orders for the fourth quarter of 2021 are still not incorporated in the above financial guidance.

FOCUS IN 2021 AND BEYOND

  • • Drive forward development program for next-generation MDx solution for one of the dominant market players. Market launch expected for H1/2022.
  • •Focus on potential M&A activities in-light of solid balance sheet and upcoming opportunities
  • • Execute deal pipeline regarding new development and manufacturing agreements
  • Two bigger deals in the final negotiation stage
  • •Manage transition to post-pandemic priorities
  • • Restore pre-pandemic efficiency levels throughout the company

QUESTIONS& ANSWERS

H1 2021 FINANCIAL RESULTS – AUGUST 6, 2021 15

APPENDIX

ADJUSTMENTS

EBIT

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Results from continuing operations

CONTACT

STRATEC SEGewerbestr. 3775217 BirkenfeldGermany

Phone +49 7082 7916-0Fax +49 7082 7916-999www.stratec.com

CONTACT

Jan Keppeler, CFA Head of Investor Relations & Corporate Communications

Phone +49 7082 7916-6515 [email protected]

THANK YOU FOR YOUR ATTENTION

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