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Stratec : Half-yearly Financial Report H1|2025
Stratec : Half-yearly Financial Report
About this update from Stratec Se
HALF-YEAR FINANCIAL REPORT H1|2025 January 1 to June 30, 2025 STRATEC HALF-YEAR FINANCIAL REPORT H1| 2025 MISSION STATEMENT Together with our partners, we improve quality of life. We do this by leveraging our expertise, technology, and collaborative approach to develop innovative, purpose-built solutions for leading companies in in-vitro diagnostics and adjacent markets. As a leading OEM partner, we share responsibility for the entire product life cycle: from initial design through development, regulatory approval, production, product expansion, and ongoing support. Our success is based on the talent and dedication of our employees and our commitment to drive innovation forward. 2 CONTENTS Current Information / Key Figures | 4 Interim Group Management Report | 5 Consolidated Balance Sheet as of June 30, 2025 | 10 Consolidated Statement of Comprehensive Income for the period from January 1 to June 30, 2025 | 12 Consolidated Statement of Cash Flows for the period from January 1 to June 30, 2025 | 13 Consolidated Statement of Changes in Equity for the period from January 1 to June 30, 2025 | 14 Selected Explanatory Notes for the period from January 1 to June 30, 2025 | 16 Further Information | 26 3 STRATEC HALF-YEAR FINANCIAL REPORT H1| 2025 CURRENT INFORMATION Consolidated sales at constant currency grow 5.8 % to € 118.6 million in H1/2025 (H1/2024: € 112.7 million) Gross margin remains stable, but currency items lower adjusted EBIT margin to 7.2 % in H1/2025 (H1/2024: 8.8 %) Significant revival in deal pipeline in the area of system development 2025 guidance confirmed: sales at constant currency expected to show growth in a low to medium single-digit percentage range with adjusted EBIT margin of around 10.0 % to 12.0 % KEY FIGURES 1 € 000s H1/2025 H1/2024 2 Change Q2/2025 Q2/2024 2 Change +5.2 % -1.0 % Sales 118,590 112,691 (cc: +5.8 %) 58,227 58,803 (cc: +0.9 %) Adjusted EBITDA 16,070 17,426 -7.8 % 6,765 10,834 -37.6 % Adjusted EBITDA margin (%) 13.6 15.5 -190 bps 11.6 18.4 -680 bps Adjusted EBIT 8,487 9,880 -14.1 % 3,124 6,960 -55.1 % Adjusted EBIT margin (%) 7.2 8.8 -160 bps 5.4 11.8 -640 bps Adjusted consolidated net income 4,978 5,603 -11.2 % 1,823 4,539 -59.8 % Adjusted earnings per share (€) 0.41 0.46 -10.9 % 0.15 0.37 -59.5 % Earnings per share (€) 0.21 0.33 -36.4 % 0.09 0.31 -71.0 % bps = basis points cc = constant currency 1 To facilitate comparison, figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and other non-recurring items (including one-off advisory expenses, fees, and restructuring expenses). 2 Restated pursuant to IAS 8. € 000s 06.30.2025 12.31.2024 Change Equity 236,698 242,533 -2.4 % Total assets 422,408 445,058 -5.1 % Equity ratio (%) 56.0 54.5 +150 bps bps = basis points 4 INTERIM GROUP MANAGEMENT REPORT Report on earnings, financial, and asset position Earnings position STRATEC increased its consolidated sales year-on-year by 5.8 % on a constant-currency basis (nominal: 5.2 %) to € 118.6 million in the first half of 2025 (H1/2024: € 112.7 million). At € 34.9 million, Systems sales fell slightly short of the previous year's figure (H1/2024: € 35.8 million). This reflects the fact that start-up curves for new product launches remain flatter than usual. For molecular diagnostics systems, by contrast, which had witnessed disruptions to demand in the wake of the COVID-19 pandemic, the stabilization in demand continued. Given rising test volumes and the associated higher level of laboratory capacity utilization rates, sales with Service Parts and Consumables increased to € 53.7 million, corresponding to constant-currency growth of 3.4 % (nominal: 2.8 %) on the previous year's already high figure (H1/2024: € 52.3 million). Driven by a high volume of development activity for new customer projects, the Development and Services division reported significant sales growth of 20.5 % on a constant-currency basis (nominal: 19.9 %) to € 28.8 million (H1/2024: € 24.0 million). Consolidated sales by operating division € 000s H1/2025 H1/2024 1 Change Analyzer systems 34,933 35,795 -2.4 % cc -2.2 % Service Parts and +2.8 % Consumables 53,728 52,254 cc +3.4 % Development and +19.9 % Services 28,750 23,969 cc +20.5 % Other 1,179 673 +75.2 % cc +76.8 % Consolidated sales 118,590 112,691 +5.2 % cc +5.8 % cc = constant currency 1 Restated pursuant to IAS 8. Gross profit (gross profit on sales) rose from € 30.5 million to € 32.0 million in the first half of 2025. At 26.9 %, the associated gross margin for the first half of 2025 almost matched the previous year's figure of 27.1 %. In view of the ongoing high volume of development activity, investments in research and development (gross development expenses) grew from € 28.1 million in the previous year to € 29.0 million in the first six months of 2025. Of this total, € 5.4 million (H1/2024: € 5.6 million) involved expenses not meeting the criteria for capitalization pursuant to IAS 38 (Intangible Assets). Sales-related expenses decreased from € 6.9 million in the previous year to € 6.5 million in the first half of 2025. General administration expenses rose from € 11.3 million in the previous year to € 13.0 million in the first half of 2025, with this increase being due among other factors to higher advisory expenses and fees. The net balance of income and expenses for impairments of financial assets and contract assets amounted to € -0.4 million for the first half of 2025 (H1/2024: € 9k). The net balance of other operating income and expenses stood at € -1.3 million in the first half of 2025 (H1/2024: € 1.0 million). Among other factors, the expenses incurred compared for the currency-related translation of balance sheet items were higher than in the previous year. 5 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .