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STRATEC SE — Investor Presentation 2016
Apr 14, 2016
416_ip_2016-04-14_513dcde4-81fa-4f12-81e2-775120d5bb73.pdf
Investor Presentation
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FY 2015 Annual Results
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 forwardlooking 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.
- 2015 at a Glance
- Performance in 2015
- Focus 2016
- Questions and Answers
2015 at a Glance
Financial Performance
- Sales: € 146.9 million (+1.4%)
- EBIT: € 26.9 million (+11.7%)
- EBIT margin: 18.3% (+170 bps)
- Net income: € 22.1 million (+11.7%)
- Tax rate at 18.7% (2014: 17.8%)
- EPS: € 1.87(+11.3%)
- Equity ratio: 82.0% (2014: 81.3%)
- Proposed dividend per share: € 0.75 (previous year: € 0.70)
Operational Performance
- Service parts business improved to 24.3% of total sales (2014: 23.4%)
- New developments for major customer programs started
- Milestones for ongoing developments achieved
- Development of two system platforms
- Capacities extended in Switzerland, Romania and UK
-
Efficiency improvements throughout the company
-
2015 at a Glance
- Performance in 2015
- Focus 2016
- Questions and Answers
FullYear Sales as of December 31
Sales in € million
Annual Sales as of 12/31
- 2015: +1.4% to € 146.9 million
- Growth driven by:
- Service parts business
- Workflow management software
- Favourable currency rates
- Slow down from one partner in Asia
Installed base and product groups
As of December 31
Delivered systems & installed base Relative share by product group
Installed base (based on a 5 year average life cycle) Number of analyzer systems delivered
As of December 31
Analyzer systems
Development, service and consulting
Service parts
FY 2015 / Annual Results Conference Call - April 14, 2016
Gross Profit / EBIT
Gross Profit and Gross Margin EBIT and EBIT Margin
- Gross margin at 37.5%
- EBIT margin at 18.3% (2014:16.6 / adjusted 17.0%)
As of December 31
Increase due to:
- Share of service parts
- Efficiency imrovements
As of December 31
Main cost drivers
- Sales related expenses increased by 12% to € 6.6 million due to project support for market launches
- R&D expenses +9% to € 21.0 million
- High number of development projects
10
Net Income / EPS
As of December 31
Consolidated Net Income
As of December 31
Earnings per Share
EPS as of 12/31
- EPS at € 1.87
- Proposed dividend per share: € 0.75 (previous year: € 0.70)
As of December 31
| IFRS (€ million) |
2015 | 2014 |
|---|---|---|
| Cash flow | 25.0 | 28.9 |
| Cash flow – operating activities |
26.0 | 39.8 |
| Cash flow – investment activities |
-8.7 | -6.8 |
| Cash flow – financing activities |
-8.7 | -8.0 |
| Free cash flow | 17.3 | 32.9 |
| Cash and cash equivalents at end of period |
56.4 | 46.6 |
- 2015 at a Glance
- Performance in 2015
- Focus 2016
- Questions and Answers
Focus in 2016
- Successful Integration of Diatron
- M&A Opportunities
- Further extend development and manufacturing capacities
-
Sign new projects
-
Product launches and ramp-ups
- Development projects
- Revenues from new business
Revenue Growth Profitability and Cash Flow
- Diatron: Integration cost, investments and synergy effects
- Efficiency improvements
- Continue to build up consumable business
- Reduction of working capital
Financial Guidance
- Sales guidance: 6% CAGR (2014 to 2017)
- Sales guidance for 2016: €150 million to €154 million
- Profitability in 2016 on a stable level
- Guidance to be updated with H1 results in July 2016
Outlook: Market & Special Situations
- Optimistic comments from partners
- Special effects in Asia for selected partners
- Installed base with growing complexity and ASP
- Continuous M&A activities in the healthcare industry
QUESTIONS & ANSWERS
STRATEC Biomedical AG Gewerbestr. 37 75217 Birkenfeld Germany Tel: +49 7082 7916-0 Fax: +49 7082 7916-999 www.stratec.com
Marcus Wolfinger CEO [email protected]
| TICKER | |
|---|---|
| Symbol: | SBS.DE |
| Bloomberg: | SBS:GR |
| Reuters: | SBSG.DE |
| ISIN: | DE000STRA555 |
| WKN: | STRA55 |
THANK YOU FOR YOUR ATTENTION!