Business
Stratec : Publication Quarterly Statement 9M|2025
Stratec : Publication Quarterly Statement
About this update from Stratec Se
9M 2025 FINANCIAL RESULTS November 7, 2025 9M 2025 AT A GLANCE FINANCIAL REVIEW OUTLOOK 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 GLANCE 1 € 000s 9M/2025 9M/2024 2 Change Q3/2025 Q3/2024 2 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/2024 2 € 000s 9M/2025 9M/2024 2 Adjusted EBIT 12,824 15,149 Adjustments: PPA amortization -2,309 -2,772 Other 1 -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 Other 1 -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 ratio 1 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%) Attention : This is an excerpt of the original content. 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