Business
Stratec : Quarterly Statement Q1|2026
Stratec : Quarterly Statement
About this update from Stratec Se
QUARTERLY STATEMENT Q1|2026 January 1 to March 31, 2026 STRATEC POSTS RESULTS FOR THE FIRST QUARTER OF 2026 Significant rise in free cash flow to € 18.6 million in Q1/2026 (Q1/2025: € -8.3 million) Consolidated sales and key profitability figures decreased as previously communicated, but remain within the intra-year planning corridor; ongoing strong momentum in the Systems business Well-filled development pipeline and progress in transferring projects to serial production 2026 guidance confirmed: Constant-currency sales expected to show growth in medium to high single-digit percentage range with adjusted EBIT margin at previous year's level (10.0 %) Key figures 1 € 000s Q1/2026 Q1/2025 Change Sales 53,426 60,363 -11.5 % (CC: -8.8 %) Adjusted EBITDA 4,691 9,305 -49.6 % Adjusted EBITDA margin (%) 8.8 15.4 -660 bps Adjusted EBIT 691 5,363 -87.1 % Adjusted EBIT margin (%) 1.3 8.9 -760 bps Adjusted consolidated net income -1,110 3,155 n/a Adjusted earnings per share (€) -0.09 0.26 n/a Free cash flow 18,597 -8,329 n/a 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 reorganization expenses). BUSINESS PERFORMANCE The consolidated sales of the STRATEC Group amounted to € 53.4 million in the first quarter of 2026, compared with € 60.4 million in the previous year's quarter. This corresponds to a constant-currency sales decline of 8.8 % (nominal: -11.5 %) and is thus consistent with the expectations underpinning the company's intra-year planning. The notably more dynamic performance recently seen in the Systems business continued, with double-digit growth rates in the first quarter of 2026. By contrast, the Service Parts and Consumables business posted a reduction in sales due to logistics optimization measures at customers. Sales from Development and Services also decreased as, in line with expectations, it was not possible to repeat the high volume achieved in the previous year. Due to negative scale effects and significant sales and product mix effects, particularly due to the lower share of high-margin Service Parts and Consumables sales, adjusted EBIT fell from € 5.4 million in the previous year's period to € 0.7 million in the first quarter of 2026. The adjusted EBIT margin therefore stood at 1.3 % and, consistent with the company's intra-year planning, fell significantly short of the previous year's figure of 8.9 %. The reduction in operating profitability also led adjusted consolidated net income to decrease from € 3.2 million in the previous year to € -1.1 million. Adjusted earnings per share (diluted) for the first quarter of 2026 therefore stood at € -0.09, as against € 0.26 in the previous year. Free cash flow improved significantly, rising from € -8.3 million in the previous year's quarter to € 18.6 million in the first quarter of 2026. This positive cash flow performance was driven by the strong momentum in Systems sales that had already emerged toward the end of the 2025 financial year. Given what remains a highly pronounced degree of seasonality, this led the elevated volume of trade receivables reported at the end of the year to decrease in Q1 2026. Reconciliation of adjusted EBITDA, EBIT, and consolidated net income To facilitate comparison, the earnings 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 reorganization expenses). A reconciliation of the adjusted results with the unadjusted key earnings figures is presented below: Reconciliation of adjusted EBITDA (€ 000s) Q1/2026 Q1/2025 Adjusted EBITDA 4,691 9,305 Adjustments: Other 1 -239 -1,369 EBITDA 4,452 7,936 1 Including one-off advisory expenses, fees, and reorganization expenses Reconciliation of adjusted EBIT (€ 000s) Q1/2026 Q1/2025 Adjusted EBIT 691 5,363 Adjustments: PPA amortization -556 -924 Other 1 -239 -1,369 EBIT -104 3,070 1 Including one-off advisory expenses, fees, and reorganization expenses Reconciliation of adjusted consolidated net income (€ 000s) Q1/2026 Q1/2025 Adjusted consolidated net income -1,110 3,155 Adjusted earnings per share in € (basic) -0.09 0.26 Adjustments: PPA amortization -556 -924 Other 1 -239 -1,369 Taxes 192 584 Consolidated net income -1,713 1,446 Earnings per share in € (basic) -0.14 0.12 1 Including one-off advisory expenses, fees, and reorganization expenses 2026 FINANCIAL GUIDANCE Overall, the first-quarter sales and earnings performance is consistent with the assumptions made in the company's intra-year planning for the 2026 financial guidance. As a result, and based on current orders and order forecasts received from customers, STRATEC's Board of Management can confirm the guidance provided for the 2026 financial year. STRATEC expects to generate year-on-year constant-currency consolidated sales growth in a medium to high single-digit percentage range in the 2026 financial year. The resultant benefits of scale are expected to be partly to fully offset by rising input costs due not least to adverse geopolitical factors. Accordingly, the adjusted EBIT margin for 2026 is expected to be around to the previous year's level (2025: 10.0 %). Furthermore, investments in property, plant and equipment and in intangible assets corresponding to a total of 6.5 % to 8.5 % of sales are still budgeted for the 2026 financial year (2025: 6.5 %). PROJECTS AND OTHER DEVELOPMENTS STRATEC has a well-filled development pipeline and, together with its partners, pressed further ahead with numerous developments and projects once again in the first quarter of 2026. Two system developments, for example, are currently being transferred to serial production and therefore approaching market launch by the respective customers. STRATEC is also holding numerous promising negotiations for additional collaborations with existing and new partners. DEVELOPMENT IN PERSONNEL Including personnel hired from employment agencies and trainees, the STRATEC Group had a total of 1,395 employees at the end of the first quarter of 2026, compared with 1,443 in the previous year's period. This reduction by 3.3% is aligned to the business performance and also reflects the consistent implementation of measures in the Operational Excellence program. CONSOLIDATED BALANCE SHEET as of March 31, 2026 Assets € 000s 03.31.2026 12.31.2025 Non-current assets Goodwill 50,275 49,853 Other intangible assets 58,427 58,157 Right-of-use assets 11,366 12,192 Property, plant and equipment 63,355 64,452 Non-current financial assets 4,080 4,085 Non-current other receivables and assets 294 294 Non-current contract assets 21,794 21,390 Deferred taxes 2,430 2,162 212,021 212,585 Current assets Inventories 114,474 113,185 Trade receivables 43,437 56,933 Current financial assets 1,189 1,345 Current other receivables and assets 6,091 6,247 Current contract assets 5,865 8,228 Income tax receivables 2,162 4,407 Cash 23,740 23,056 196,958 213,401 Total assets 408,979 425,986 Shareholders' equity and debt € 000s 03.31.2026 12.31.2025 Shareholders' equity Share capital 12,158 12,158 Capital reserve 37,599 37,498 Revenue reserves 188,018 189,732 Treasury stock -35 -35 Other equity -946 -2,033 236,794 237,320 Non-current debt Non-current financial liabilities 102,107 110,653 Other liabilities 1,133 1,105 Non-current contract liabilities 2,350 2,039 Provisions for pensions 4,132 4,158 Provisions 116 116 Deferred taxes 16,885 16,854 126,723 134,925 Current debt Current financial liabilities 14,868 24,862 Trade payables 13,523 12,635 Current other liabilities 10,823 9,757 Current contract liabilities 3,285 4,305 Provisions 463 461 Income tax liabilities 2,500 1,721 45,462 53,741 Total shareholders' equity and debt 408,979 425,986 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the period from January 1 to March 31, 2026 € 000s 01.01. - 03.31.2026 01.01. - 03.31.2025 Sales 53,426 60,363 Cost of sales -43,225 -44,325 Gross profit 10,201 16,038 Research and development expenses -1,718 -2,242 Sales-related expenses -3,261 -3,355 General administration expenses -5,561 -6,891 Income / Expenses from impairment of financial assets and contract assets -103 -230 Other operating expenses -1,212 -1,374 Other operating income 1,550 1,124 Earnings before interest and taxes (EBIT) -104 3,070 Financial income 34 65 Financial expenses -1,021 -1,118 Other financial result -65 -61 Net financial result -1,052 -1,114 Earnings before taxes (EBT) -1,156 1,956 Taxes on income -557 -510 Consolidated net income -1,713 1,446 Items that may be subsequently reclassified to profit or loss: Currency translation differences from translation of foreign operations 1,087 930 Other comprehensive income (OCI) 1,087 930 Comprehensive income -626 2,376 Basic earnings per share in € -0.14 0.12 No. of shares used as basis (undiluted) 12,155,942 12,155,942 Diluted earnings per share in € -0.14 0.12 No. of shares used as basis (diluted) 12,155,942 12,155,942 CONSOLIDATED STATEMENT OF CASH FLOWS for the period from January 1 to March 31, 2026 € 000s 01.01. - 03.31.2026 01.01. - 03.31.2025 I. Operations Consolidated net income (after taxes) -1,713 1,446 Depreciation 4,556 4,866 Current income tax expenses 787 581 Income taxes paid less income taxes received 2,233 -4,873 Financial income -34 -65 Financial expenses 1,021 1,118 Interest paid -1,683 -1,085 Interest received 33 88 Other non-cash expenses 824 1,797 Other non-cash income -826 -1,082 Change in net pension provisions through profit or loss -49 -50 Change in deferred taxes through profit or loss -230 -71 Profit (-) / loss (+) on disposals of non-current assets -94 0 Increase (-) / decrease (+) in inventories, trade receivables and other assets 15,298 -839 Increase (+) / decrease (-) in trade payables and other liabilities 1,370 -4,984 Cash flow from operating activities 21,493 -3,153 II. Investments Outgoing payments for investments in non-current assets Intangible assets Property, plant and equipment -1,344 -1,551 -2,341 -2,835 Cash flow from investing activities -2,896 -5,176 III. Financing Incoming funds from taking up of financial liabilities 0 1,000 Outgoing payments for repayment of financial liabilities -17,177 -22,584 Outgoing payments for repayment of lease liabilities -894 -824 Cash flow from financing activities -18,071 -22,408 IV. Cash-effective change in cash (net balance of I - III) 526 -30,737 Cash at start of period 23,056 47,164 Impact of exchange rate movements 158 -313 Cash at end of period 23,740 16,114 11 11.24.2026 German Equity Forum (Analyst Conference) 11 11.12.2026 Quarterly Statement 9M|2026 08 08.14.2026 Half-year Financial Report H1|2026 06 06.23.2026 Annual General Meeting 05 05.11.2026 Quarterly Statement Q1|2026 FINANCIAL CALENDAR Subject to amendment. Quarterly statements and half-year financial reports are neither audited nor subject to an audit review by the group auditor. ABOUT STRATEC STRATEC 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 by STRATEC SE Gewerbestr. 37 75217 Birkenfeld Germany Phone: +49 7082 7916-0 [email protected] https://www.stratec.com Head of Investor Relations, Sustainability & Corporate Communications Jan Keppeler Phone: +49 7082 7916 - 6515 [email protected] 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.