Stratec SeXETR: SBS

Publication Quarterly Statement 9M|2025

· MarketScreener

9M 2025 FINANCIAL RESULTS

November 7, 2025



  1. 9M 2025 AT A GLANCE

  2. FINANCIAL REVIEW

  3. OUTLOOK



  4. Q&A



HIGHLIGHTS AND ACHIEVEMENTS

Positive sales growth despite supply chain interruptions and thanks to high development activity as well as further stabilization in molecular system demand

Margin development held back by product mix effects and FX headwinds

Progress in development partnerships and significant upturn in demand in the area of system development

Lower end of 2025 margin guidance confirmed despite lowered sales outlook as efficiency measures unfold momentum



FINANCIALS AT A GLANCE1

€ 000s

9M/2025

9M/20242

Change

Q3/2025

Q3/20242

Change

Sales

175,588

172,958

+1.5%

(cc: +2.5%)

56,998

60,267

-5.4%

(cc: -3.4%)

Adjusted EBITDA

24,235

26,623

-9.0%

8,165

9,197

-11.2%

Adjusted EBITDA margin (%)

13.8

15.4 -160 bps

14.3

15.3 -100 bps

Adjusted EBIT

12,824

15,149

-15.3%

4,337

5,269

-17.7%

Adjusted EBIT margin (%)

7.3

8.8 -150 bps

7.6

8.7 -110 bps

Adjusted consolidated net income

7,104

8,434

-15.8%

2,126

2,831

-24.9%

Adjusted basic earnings per share (in €)

0.58

0.69

-15.9%

0.17

0.23

-26.1%

Basic earnings per share IFRS (in €)

0.34

0.39

-12.8%

0.13

0.06

+116.7%

bps = basis points

cc = at constant currency

1 To facilitate comparison, figures for 2025 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). The figures for 2024 have additionally been adjusted to exclude one-off personnel expenses of € 1.7 million in connection with the departure of a member of the Board of Management.

2 Restated pursuant to IAS 8.

ADJUSTMENTS 9M/2025

EBIT

Consolidated net income

€ 000s 9M/2025 9M/20242 € 000s 9M/2025 9M/20242

Adjusted EBIT

12,824

15,149

Adjustments:

PPA amortization

-2,309

-2,772

Other1

-1,677

-2,052

EBIT

8,838

10,325

1 Including one-off advisory expenses, fees, and restructuring expenses

2 Restated pursuant to IAS 8

Adjusted consolidated net income

7,104

8,434

Adjusted earnings per share in € (basic)

0.58

0.69

Adjustments:

PPA amortization

-2,309

-2,772

Other1

-1,677

-2,052

Taxes on income

985

1,156

Consolidated net income

4,103

4,766

Earnings per share in € (basic)

0.34

0.39

1 Including one-off advisory expenses, fees, and restructuring expenses

2 Restated pursuant to IAS 8

SALES 9M/2025

€ 173.0

million

+2.5% at cc

YOY

€ 175.6

million

9M/2025 sales +2.5% yoy in constant currency to € 175.6 million
  • Double digit growth with Development and service sales due to high development activity and high number of active customer projects

9M/2024 9M/2025

cc = at constant currency

9M/2024 restated pursuant to IAS 8 As of September 30

  • Subdued ramp-up curves for newly launched products

  • Supply chain driven delivery shortfalls

  • Volatile customer order behavior

  • Low but stabilizing demand for MDx systems following pandemic related disruptions

    ADJUSTED EBIT AND EBIT MARGIN 9M/2025

    9M 2025 adj. EBIT -15.3% to 12.8 million € Margin -150 bps YoY to 7.3%

    -150 bps YoY

    Margin 7.3%

Margin 8.8%

-15.3%

YoY

€ 12.8

million

€ 15.1

million

9M/2024 9M/2025

Adj. EBIT

9M/2024 restated pursuant to IAS 8 As of September 30

cy measures and structural changes taking effect

•

E

fficien

  • Gross margin down due to subdued product mix in the systems business and lower share of high margin Service parts & consumables sales in Q3/2025

    € 000s

    9M/2025

    9M/2024

    Research and development expenses

    -7,012

    -8,123

    Sales-related expenses

    -8,973

    -9,992

    General administrative expenses

    -18,992

    -18,597

    Income / Expenses from impairment of financial assets and contract assets

    -614

    -11

    Other operating income and expenses

    -828

    -238

  • Negative currency effects

CASH FLOW AND NET DEBT

€ 000s

9M/2025

9M/2024

Change

Cash flow - operating activities

-1,435

25,430

nm

Cash flow - investment activities

-13,375

-12,432

nm

Cash flow - financing activities

-8,971

-13,482

nm

Free cash flow

-14,810

+12,998

nm

€ 000s

9M/2025

FY/2024 Change

Cash

22,396

47,164 -52.5%

Equity ratio (%)

55.7

54.5 +120 bps

Net debt

109,846

87,096 +26.1%

  • Operating cash flow dynamics 9M/2025 burdened by high cash tax payments, decrease in trade payables and not yet materialized inventory reduction; Positive operating cash flow of € 4.4 million in Q3/2025

  • Strong focus to reduce still elevated inventory levels going forward

    € 000s

    9M/2025

    FY/2024

    Inventories

    126,389

    121,818

    Trade receivables

    41,947

    41,578

    Trade payables

    14,418

    18,447

  • Investment ratio1 at 7.3% of sales below projected corridor for FY 2025 of 8.0% to 10.0%

  • Net debt / LTM EBITDA at 2.4x (up from 1.9x at the end of FY 2024)

  • Negotiations on refinancing of bridge loan by a new € 125 million syndicated loan concluded and agreement signed in Q3/2025

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



FINANCIAL GUIDANCE FOR FISCAL YEAR 2025

Co

co



nsolidated sales for the 2025 financial year expected to approximately match the previous year's figure on a nstant currency basis



Adjusted EBIT margin: Lower end of forecast corridor of 10.0% to 12.0% (FY 2024: 13.0%) expected

Sequential improvement expected in Q4/2025:

− Higher earnings contribution from higher-margin development and services sales expected

− Better scale effects due to better utilization in the systems business despite upcoming supply chain interruptions



Investments in tangible and intangible assets combined expected to be slightly below originally targeted corridor of around 8.0% to 10.0% of sales (FY 2024: 7.1%)

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