Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

STRATEC SE

Investor Presentation • Nov 5, 2020

416_ip_2020-11-05_7254dcb9-2122-445d-965a-786f02df2b4b.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

9M 2020 FINANCIAL RESULTS

Conference Call – November 5, 2020

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. 9M 2020 HIGHLIGHTS

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

9M 2020 AT A GLANCE

  • • Sales in 9M 2020 up organically by 13.1% yoy to € 179.1 million (9M 2019: € 158.3 million)
  • Organic growth of 22.4% in Q3 2020
  • • Adjusted EBIT in 9M 2020 up by 40.7% to € 28.1 million (9M 2019: € 20.0 million)
  • Adjusted EBIT in Q3 2020 up by 35.2%
  • • Achievement of major development milestones
  • e.g. launch of serial production for a polymer-based smart consumable in the field of flow cytometry
  • • New cooperation agreements concluded and several promising late stage negotiations regarding new development projects with partners
  • • Number of employees up by 2.6% to 1,315 organic increase of 7.0%

UPDATE COVID-19 PANDEMIC

  • •Several STRATEC customers are at the forefront of containing the COVID-19 pandemic
  • • Significant proportion of genetic COVID-19 testing is performed on systems developed and manufactured by STRATEC
  • • Unbroken and unprecedented demand within certain product lines:
  • Number of molecular diagnostics analyzer shipments more than doubled yoy in 9M 2020
  • Additional demands for immunoassay solutions due to antibody screening tests
  • •Supply chain challenges in light of massive capacity ramp-up
  • •Health of our employees remains top priority

9M 2020 HIGHLIGHTS

CONSTRUCTION WORK AT HEADQUARTER COMPLETED

BEFORE

20 Mio. € investment +15.000 sqm for development, prototyping, storage and administration

NOW

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

FINANCIALS AT A GLANCE

€
0
0
0s		 9
/
2
0
2
0
M		 2
9
/
2
0
9
M
1		 C
ha
ng
e		 Q
3
/
2
0
2
0		 2
Q
3
/
2
0
9
1		 C
ha
ng
e
Sa
les		 1
7
9,
0
8
2		 1
5
8,
3
3
6		 +1
3.
1
%		 5
9,
7
1
5		 4
9,
7
3
2		 +2
0.
1
%
A
A
d
d
E
B
I
T
D
j
te
us		 3
5,
8
2
1		 2
6,
7
7
6		 +3
3.
8
%		 1
2,
2
8
4		 9,
4
5
1		 +3
0.
0
%
A
d
d
E
B
I
T
D
A
(
%
)
j
in
te
us
m
ar
g		 2
0.
0		 1
6.
9		 +3
1
0
bp
s		 2
0.
6		 1
9.
0		 +1
6
0
bp
s
A
d
d
E
B
I
T
j
te
us		 2
8,
2
1
1		 9,
9
8
1
5		 +4
0.
%
7		 9,
0
8
7		 8
0
7,
1		 +3
2
%
5.
A
d
d
E
B
I
T
(
%
)
j
in
te
us
m
ar
g		 1
5.
7		 1
2.
6		 +3
1
0
bp
s		 1
6.
3		 1
4.
4		 +1
9
0
bp
s
3
A
d
d
l
da
d
j
i
inc
te
te
t
us
co
ns
o
ne
om
e		 2
3,
7
6
5		 1
5,
9
3
1		 +4
9.
2
%		 8,
1
7
0		 5,
4
7
6		 +4
9.
2
%
3
(
€
)
A
d
d
ba
ha
j
ic
ing
in
te
us
s
ea
rn
s p
er
s
re		 9
1.
7		 3
3
1.		 +4
8.
%
1		 0.
6
7		 0.
4
6		 +4
%
5.
7
3
Ba
ha
I
F
R
S
(
€
)
ic
ing
in
s
ea
rn
s p
er
s
re		 1.
5
5		 0.
7
2		 +1
1
5.
3
%		 0.
5
4		 0.
2
4		 +1
2
5.
0
%

bps = basis points

To facilitate comparison, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions and associated reorganization expenses

2Retrospectively adjusted to account for the recognition of the Data Solutions business unit as a discontinued operation pursuant to IFRS 5.

Consolidated net income from continuing operations.

FINANCIAL REVIEW

SALES

Sales in € million

107.2126.3149.4134.6158.3179.10204060801001201401601809M/15 9M/16 9M/17 9M/18 9M/19 9M/20

9M 2020 sales organically up by 13.1% yoy to € 179.1 million

  • • Double-digit growth with systems as well as service parts and consumables
  • • Continuing strong demand for MDx systems as a result of COVID-19 pandemic
  • • Significantly lower amount of recognized development revenues due to strong prior year comparison basis (particularly in Q2)

As of September 30

FINANCIAL REVIEW

ADJUSTED EBIT AND EBIT MARGIN

As of September 30

9M 2020 adjusted EBIT up 40.7% yoy to € 28.1 million

9M 2020 adjusted EBIT margin at 15.7 %

Margin expansion of 310 bps yoy

  • (+) Economies of scale
  • (+) Positive sales and product mix
  • (+) Earnings improvement initiative
  • (-) Stock appreciation rights (negative margin effect of 280 bps)

FINANCIAL REVIEW

CASH FLOW AND NET DEBT

€
0
0
0s		 9
M
/
2
0
2
0		 9
M
/
2
0
1
9		 C
ha
ng
e
Ca
f
h
lo
ing
iv
i
ies
t
t
t
s
w
op
er
a
a
c
–		 8,
8
9
8
1		 0
8
6
1
1,		 0.
%
7
5
+
Ca
f
h
lo
inv
iv
i
ies
tm
t a
t
t
s
es
en
c
w
–		 0
4
1
5,
1
-		 2
3
1,
1
1
-		 nm
Ca
h
f
lo
f
ina
ing
iv
i
ies
t
t
s
w
nc
a
c
–		 5,
4
0
6		 7,
2
2
8
-		 nm
Fr
h
f
lo
ee
c
as
w		 3,
8
5
7		 1
0,
0
2
7
-		 nm
  • • Cash flow from operating activities up by 70.5% yoy to € 18.9 million due to increased profitability and lower cash tax payments
  • • Still elevated working capital levels as a result of COVID-19 pandemic
  • • Investment ratio1 of 9.9% for the first nine months slightly below full year target corridor of around 10% to 12%
€
0
0
0s		 9
M
/
2
0
2
0		 F
Y
/
2
0
1
9		 C
ha
ng
e
Ca
h
d
h
len
iva
ts
s
an
ca
s
eq
u
d
f p
d
io
t e
a
n
o
er		 2
6
8
7,
5		 2
2,
0
8
7		 2
4
%
1.
+
Eq
(
%
)
i
io
ty
t
u
ra		 5
0.
3		 5
3.
1		 2
8
0
bp
s
-
N
de
b
t
t
e		 9
1,
1
2
4		 7
7,
2
5
4		 1
8.
0
%
+

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

    1. 9M 2020 HIGHLIGHTS
    1. FINANCIAL REVIEW
    1. OUTLOOK
    1. Q&A
    1. APPENDIX

FINANCIAL GUIDANCE FOR FY 2020

  • • Group sales are expected to increase by 14.0% to 18.0% (at constant exchange rates; 2019 revenue basis of € 214.2 million)
  • Additional demand due to COVID-19 pandemic expected to remain high in Q4 2020
  • Upper end of target corridor expected
  • • Adjusted EBIT margin of around 15.5% to 16.5% (2019: 13.7%)
  • Sales and product mix expected to remain strong in Q4 2020
  • Upper end of target corridor expected
  • • Investments in tangible and intangible assets of around 10% to 12% of sales
  • After the completion of construction projects for capacity expansion, investment ratio will likely decline considerably from 2021 onwards

QUESTIONS& ANSWERS

APPENDIX

ADJUSTMENTS

EBIT

€
0
0
0s		 9
/
2
0
2
0
M		 1
9
/
2
0
9
M
1
j
A
d
d
E
B
I
T
te
us		 2
8,
2
1
1		 9,
9
8
1
5
A
d
j
tm
ts
us
en
:
P
P
A
iza
io
t
t
am
or
n		 -6
0
7
1
,		 -6
7
7
4
,
Ex
lat
ing
io
to
tr
ct
p
en
se
s r
e
an
sa
ns
d a
d
iat
ing
str
tu
an
sso
c
e
re
uc
r
ex
p
en
se
s		 0 -2
2
3
0
,
E
B
I
T		 2
2,
0
5
0		 1
0,
9
8
1

Retrospectively adjusted

Consolidated net income

€
0
0
0s		 9
M
/
2
0
2
0		 1
9
M
/
2
0
1
9
A
d
j
d
l
i
da
d
in
te
te
t
us
co
ns
o
ne
co
m
e
fro
in
in
io
t
t
m
c
on
u
g
op
er
a
ns		 2
3,
7
6
5		 1
5,
9
3
1
A
d
j
d
in
ha
fro
te
us
ea
rn
g
s p
er
s
re
m
in
in
io
in
€
(
ba
ic
)
t
t
co
n
u
g
op
er
a
ns
s		 1.
9
7		 1.
3
3

Adjustments:

P
P
A
iza
io
t
t
am
or
n		 -6
0
7
1
,		 -6
7
7
4
,
Ex
lat
d
ing
io
to
tr
ct
p
en
se
s r
e
an
sa
ns
an
d
iat
ing
str
tu
as
so
c
e
re
uc
r
ex
en
se
s
p		 0 -2
2
3
0
,
Ta
inc
xe
s o
n
om
e		 9
4
6		 1,
6
7
6
Co
l
i
da
d
in
te
t
ns
o
ne
co
m
e
fro
in
in
io
t
t
m
co
n
op
er
a
ns
u
g		 8,
6
4
0
1		 8,
6
0
3
in
fro
Ea
ha
rn
g
s p
er
s
re
m
in
in
io
in
€
(
ba
ic
)
t
t
co
n
u
g
op
er
a
ns
s		 1.
5
5		 0.
2
7

Retrospectively adjusted

CONTACT

STRATEC SEGewerbestr. 3775217 BirkenfeldGermany

Phone +49 7082 7916-991Fax +49 7082 7916-9190www.stratec.com

CONTACT

Marcus WolfingerCEO

Jan Keppeler, CFA Head of Investor Relations & Corporate Communications

Phone +49 7082 7916-6515 [email protected]

THANK YOU FOR YOUR ATTENTION

More from STRATEC SE

Earnings Release 2025
Nov 7
Quarterly Report 2025
Nov 7
Earnings Release 2025
Oct 30
Board/Management Information 2025
Aug 27
Governance Information 2025
Aug 21
Earnings Release 2025
Aug 19
Interim / Quarterly Report 2025
Aug 19
Investor Presentation 2025
Aug 19
Report Publication Announcement 2025
Aug 12
Declaration of Voting Results & Voting Rights Announcements 2025
Jul 14
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.