QUARTERLY STATEMENT 9M|2025
January 1 to September 30, 2025
STRATEC QUARTERLY STATEMENT 9M|2025
Despite supply chain-induced interruption to production, consolidated sales at constant currency up 2.5 % (nominal: +1.5 %) to € 175.6 million in 9M/2025 (9M/2024: € 173.0 million)
Scale effects and higher earnings contributions from the realization of high-margin development sales are expected to drive significantly more dynamic earnings momentum in the fourth quarter of 2025
Ongoing great momentum and strong demand for system solution development cooperations; new partnerships initiated
2025 guidance: sales at constant currency expected at around previous year's level with adjusted EBIT margin at lower end of forecast corridor of 10.0 % to 12.0 %
€ 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 earnings per share (€) | 0.58 | 0.69 | -15.9 % | 0.17 | 0.23 | -26.1 % |
Earnings per share (€) | 0.34 | 0.39 | -12.8 % | 0.13 | 0.06 | +116.7 % |
bps = basis points
cc = 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.
2
BUSINESS PERFORMANCESTRATEC increased its consolidated sales year-on-year by 2.5 % on a constant-currency basis (nominal: +1.5 %) to € 175.6 million in the first nine months of 2025 (9M/2024: € 173.0 million). Systems sales at constant currency virtually matched the previous year's level. Alongside start-up curves for new product launches remaining flatter than usual, the third quarter also brought supply chain interruptions in connection with trade policy tensions and thus delivery backlogs with some system lines. By contrast, the stabilization in demand for system lines which had seen disruptions in the wake of the COVID-19 pandemic continued apace. Constant-currency sales with Service Parts and Consumables fell slightly short of the previous year's high figure. In the third quarter of 2025, this division felt the effects of volatile order behavior and logistics optimization measures taken by customers to account for changeable global tariff restrictions. Conversely, sales with Development and Services showed double-digit percentage growth, benefiting from a high volume of development activities and numerous customer projects currently underway.
Adjusted EBIT amounted to € 12.8 million in the first nine months of 2025 (9M/2024: € 15.1 million). Compared with the previous year, the adjusted EBIT margin thus fell by 150 basis points from 8.8 % to 7.3 %. This was particularly due to product mix effects within the Systems operating division, as well as to a temporary dip in the share of high-margin Service Parts and Consumables in the third quarter of 2025. The margin performance was additionally held back by negative exchange rate effects.
Adjusted consolidated net income stood at € 7.1 million in the first nine months of 2025, compared with € 8.4 million in the previous year. Here, STRATEC witnessed a year-on-year improvement in its net financial expenses and an increase in its adjusted tax rate. Adjusted earnings per share (basic) amounted to € 0.58 (9M/2024:
€ 0.69).
Reconciliation of adjusted EBITDA, EBIT, and consolidated net incomeThe key earnings figures for the first nine months of 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). A reconciliation of the adjusted results with the unadjusted key earnings figures is presented below:
Reconciliation of adjusted EBITDA (€ 000s)9M/2025 | 9M/20241 | |
Adjusted EBITDA | 24,235 | 26,623 |
Adjustments:
Other2 | -1,677 | -2,052 |
EBITDA | 22,558 | 24,571 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
2 Including one-off advisory expenses, fees, and restructuring expenses
Reconciliation of adjusted EBIT (€ 000s)9M/2025 | 9M/20241 | |
Adjusted EBIT | 12,824 | 15,149 |
Adjustments:
PPA amortization | -2,309 | -2,772 |
Other2 | -1,677 | -2,052 |
EBIT | 8,838 | 10,325 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
2 Including one-off advisory expenses, fees, and restructuring expenses
Reconciliation of adjusted consolidated net income (€ 000s)9M/2025 | 9M/20241 | |
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 |
Other2 | -1,677 | -2,052 |
Taxes | 985 | 1,156 |
Consolidated net income | 4,103 | 4,766 |
Earnings per share in € (basic) | 0.34 | 0.39 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
2 Including one-off advisory expenses, fees, and restructuring expenses
STRATEC QUARTERLY STATEMENT 9M|2025
FINANCIAL GUIDANCEAs already communicated in the announcement published on October 30, 2025, STRATEC expects to witness temporary interruptions to the supply of input materials for some system lines in the fourth quarter of 2025. In particular, in connection with trade policy tensions supply chain interruptions have arisen for a specific type of magnet with impurities relating to export-restricted rare earths (share of rare earths in affected production batch: 0.1 %). Against this backdrop, delivery backlogs already arose for system deliveries in the third quarter of 2025. STRATEC does not expect to receive sufficient quantities of input materials to make up for these delivery backlogs or for the production volumes originally planned for the fourth quarter of 2025. Furthermore, global tariff conflicts are leading to higher fluctuations in customers' order behavior and to associated logistics optimization measures.These particularly affect the Service Parts and Consumables division. In view of these factors, on October 30, 2025 the Board of Management decided to adjust its sales guidance for the 2025 financial year. STRATEC now expects its consolidated sales at constant currency to approximately match the previous year's figure. Despite the lower sales base hereby forecast and negative currency items, STRATEC confirmed the lower end of the forecast corridor of around 10.0 % to 12.0 % for its adjusted EBIT margin. The expected intra-year rise in profitability in the fourth quarter of 2025 is attributable to benefits of scale, efficiency measures, and higher earnings contributions from the realization of high-margin development sales.
Based on updated planning, STRATEC assumes that its investments in property, plant and equipment and intangible assets in the 2025 financial year will fall slightly short of the originally forecast range of a total of 8.0 % to
10.0 % of sales (2024: 7.1 %).
PROJECTS AND OTHER DEVELOPMENTS
Together with its partners, in the third quarter of 2025 STRATEC once again made further scheduled progress with numerous development projects and paved the way for additional cooperation agreements. The increasing willingness shown by customers in recent months to reach decisions concerning cooperations in the Systems Development business continued. Among other aspects, STRATEC has observed growing demand for lifecycle transfers. Furthermore, customers are increasingly looking for partners who are able to assume full responsibility for design, production, and delivery for the entire product lifecycle. The background to this development involves reorganization measures and M&A activities at customers, as well as their strategic focus on products already established in the market. These factors are
supplemented by changed market conditions and growing requirements in terms of materials procurement. Against this backdrop, STRATEC recently initiated a partnership for a well-established high-throughput product in the field of molecular diagnostics.
The third quarter of 2025 also saw the market launch of the P780, a next-generation analyzer system offered under the Diatron brand in the field of clinical chemistry. To address a wide range of target customers, the P780 was developed for medium to large laboratories, offering an innovative and scalable solution characterized by great reliability.
DEVELOPMENT IN PERSONNELIncluding personnel hired from temporary employment agencies and trainees, the STRATEC Group had a total of 1,420 employees as of September 30, 2025 (previous year: 1,462 employees). This corresponds to a reduction of 2.9 % compared with the previous year's reporting date and is to be viewed in connection with the continuation in 2025 of the measures taken to enhance efficiency and improve earnings.
STRATEC QUARTERLY STATEMENT 9M|2025
CONSOLIDATED BALANCE SHEET
as of September 30, 2025
Assets€ 000s | 09.30.2025 | 12.31.2024 |
Non-current assets | ||
Goodwill | 49,597 | 50,975 |
Other intangible assets | 64,447 | 62,889 |
Right-of-use assets | 12,914 | 15,180 |
Property, plant and equipment | 64,771 | 65,065 |
Non-current financial assets | 4,086 | 3,472 |
Non-current other receivables and assets | 343 | 0 |
Non-current contract assets | 23,170 | 20,859 |
Deferred taxes | 3,922 | 3,116 |
223,250 | 221,556 | |
Current assets | ||
Inventories | 126,389 | 121,818 |
Trade receivables | 41,947 | 41,578 |
Current financial assets | 1,617 | 1,563 |
Current other receivables and assets | 6,898 | 7,951 |
Current contract assets | 7,545 | 1,209 |
Income tax receivables | 1,194 | 2,219 |
Cash | 22,396 | 47,164 |
207,986 | 223,502 | |
Total assets | 431,236 | 445,058 |
€ 000s | 09.30.2025 | 12.31.2024 |
Shareholders' equity | ||
Share capital | 12,158 | 12,158 |
Capital reserve | 37,723 | 37,131 |
Revenue reserves | 194,076 | 197,267 |
Treasury stock | -35 | -35 |
Other equity | -3,844 | -3,988 |
240,078 | 242,533 | |
Non-current debt | ||
Non-current financial liabilities | 116,952 | 88,695 |
Current other liabilities | 1,330 | 1,201 |
Non-current contract liabilities | 2,112 | 343 |
Provisions for pensions | 5,117 | 5,338 |
Provisions | 156 | 190 |
Deferred taxes | 15,908 | 16,412 |
141,575 | 112,179 | |
Current debt | ||
Current financial liabilities | 15,290 | 45,565 |
Trade payables | 14,418 | 18,447 |
Current other liabilities | 9,351 | 10,369 |
Current contract liabilities | 7,216 | 7,235 |
Provisions | 622 | 760 |
Income tax liabilities | 2,686 | 7,970 |
49,583 | 90,346 | |
Total shareholders' equity and debt | 431,236 | 445,058 |
STRATEC QUARTERLY STATEMENT 9M|2025
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the period from January 1 to September 30, 2025
€ 000s | 01.01. - 09.30.2025 | 01.01. - 09.30.2024 Retrospectively adjusted1 |
Sales | 175,588 | 172,958 |
Cost of sales | -130,331 | -125,672 |
Gross profit | 45,257 | 47,286 |
Research and development expenses | -7,012 | -8,123 |
Sales-related expenses | -8,973 | -9,992 |
General administration expenses | -18,992 | -18,597 |
Income / Expenses from impairment of financial assets and contract assets | -614 | -11 |
Other operating expenses | -4,752 | -4,038 |
Other operating income | 3,924 | 3,800 |
Earnings before interest and taxes (EBIT) | 8,838 | 10,325 |
Financial income | 154 | 275 |
Financial expenses | -3,140 | -4,486 |
Other financial result | -179 | 88 |
Net financial result | -3,165 | -4,123 |
Earnings before taxes (EBT) | 5,673 | 6,202 |
Taxes on income | -1,570 | -1,436 |
Consolidated net income | 4,103 | 4,766 |
Items that may be subsequently reclassified to profit or loss: | ||
Currency translation differences from translation of foreign operations | 142 | -4,104 |
Other comprehensive income (OCI) | 142 | -4,104 |
Comprehensive income | 4,245 | 662 |
Basic earnings per share in € | 0.34 | 0.39 |
No. of shares used as basis (undiluted) | 12,155,942 | 12,155,942 |
Diluted earnings per share in € | 0.34 | 0.39 |
No. of shares used as basis (diluted) | 12,155,942 | 12,157,875 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the period from July 1 to September 30, 2025
€ 000s | 01.01. - 09.30.2025 | 01.01. - 09.30.2024 Retrospectively adjusted1 |
Sales | 56,998 | 60,267 |
Cost of sales | -43,696 | -43,527 |
Gross profit | 13,302 | 16,740 |
Research and development expenses | -1,587 | -2,563 |
Sales-related expenses | -2,466 | -3,140 |
General administration expenses | -6,004 | -7,337 |
Income / Expenses from impairment of financial assets and contract assets | -196 | -20 |
Other operating expenses | -622 | -1,461 |
Other operating income | 1,092 | 217 |
Earnings before interest and taxes (EBIT) | 3,519 | 2,436 |
Financial income | 33 | 5 |
Financial expenses | -1,056 | -1,483 |
Other financial result | -117 | 89 |
Net financial result | -1,140 | -1,389 |
Earnings before taxes (EBT) | 2,379 | 1,047 |
Taxes on income | -878 | -327 |
Consolidated net income | 1,501 | 720 |
Items that may be subsequently reclassified to profit or loss: | ||
Currency translation differences from translation of foreign operations | 1,690 | -434 |
Other comprehensive income (OCI) | 1,690 | -434 |
Comprehensive income | 3,191 | 286 |
Basic earnings per share in € | 0.13 | 0.06 |
No. of shares used as basis (undiluted) | 12,155,942 | 12,155,942 |
Diluted earnings per share in € | 0.13 | 0.06 |
No. of shares used as basis (diluted) | 12,155,942 | 12,157,686 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
STRATEC QUARTERLY STATEMENT 9M|2025
CONSOLIDATED CASH FLOW STATEMENT
for the period from January 1 to September 30, 2025
€ 000s | 01.01. - 09.30.2025 | 01.01. - 09.30.2024 Retrospectively adjusted1 |
I. Operations | ||
Consolidated net income (after taxes) | 4,103 | 4,766 |
Depreciation and amortization | 13,720 | 14,246 |
Current income tax expenses | 3,023 | 1,513 |
Income taxes paid less income taxes received | -7,253 | -171 |
Financial income | -154 | -275 |
Financial expenses | 3,140 | 4,486 |
Interest paid | -3,420 | -4,542 |
Interest received | 224 | 275 |
Other non-cash expenses | 4,227 | 1,732 |
Other non-cash income | -2,046 | -1,195 |
Change in net pension provisions through profit or loss | -252 | -23 |
Change in deferred taxes through profit or loss | -1,453 | -77 |
Profit (-) / loss (+) on disposals of non-current assets | 13 | 74 |
Increase (-) / decrease (+) in inventories, trade receivables and other assets | -11,685 | 4,418 |
Increase (+) / decrease (-) in trade payables and other liabilities | -3,622 | 203 |
Cash flow from operating activities | -1,435 | 25,430 |
II. Investments | ||
Incoming payments from disposals of non-current assets
| 0 | 9 |
Outgoing payments for investments in non-current assets
| -5,671 -7,124 -580 | -6,344 -5,997 -100 |
Cash flow from investing activities | -13,375 | -12,432 |
III. Financing | ||
Incoming funds from taking up of financial liabilities | 42,000 | 12,000 |
Outgoing payments for repayment of financial liabilities | -41,109 | -16,388 |
Outgoing payments for repayment of lease liabilities | -2,568 | -2,407 |
Dividend payments | -7,294 | -6,687 |
Cash flow from financing activities | -8,971 | -13,482 |
IV. Cash-effective change in cash (net balance I - III) | -23,781 | -484 |
Cash at start of period | 47,164 | 33,532 |
Impact of exchange rate movements | -987 | 60 |
Cash at end of period | 22,396 | 33,108 |
1 Restated pursuant to IAS 8. Further details can be found in the 2024 Annual Report.
FINANCIAL CALENDAR11
11.25.2025German Equity Forum (Analyst Conference)
11
11.07.2025Quarterly Statement 9M|2025
Subject to amendment.
Quarterly statements and half-year financial reports are neither audited nor subject to an audit review by the group auditor.
ABOUT STRATECSTRATEC SE (https://www.stratec.com) designs and manufactures fully automated analyzer systems for its partners in the fields of clinical diagnostics and life siences. Furthermore, the company offers complex consumables for diagnostic and medical applications. For its analyzer systems and consumables, STRATEC covers the entire value chain - from development to design and production through to quality assurance.
The partners market the systems, software and consumables, in general together with their own reagents, as system solutions to laboratories, blood banks and research institutes around the world. STRATEC develops its products on the basis of patented technologies.
Shares in the company (ISIN: DE000STRA555) are traded in the Prime Standard segment of the Frankfurt Stock Exchange.
IMPRINT AND CONTACT Published bySTRATEC SE
Gewerbestr. 37
75217 Birkenfeld Germany
Phone: +49 7082 7916-0
info@stratec.com https://www.stratec.com
Head of Investor Relations, Sustainability & Corporate CommunicationsJan Keppeler
Phone: +49 7082 7916 - 6515
j.keppeler@stratec.com
Notice
Forward-looking statements involve risks:This quarterly statement 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.
This quarterly statement contains various disclosures that from an economic point of view are not required by the relevant accounting standards. These disclosures should be regarded as a supplement, rather than a substitute for the IFRS disclosures.
Apparent discrepancies may arise throughout this quarterly statement on account of mathematical rounding up or down in the course of addition.
This quarterly statement is available in both German and English. Both versions can be downloaded from the company's website at www. stratec.com. In the event of any discrepancies between the two, the German report is the definitive version.