DGAP-News

STRATEC WITH DOUBLE-DIGIT GROWTH IN SALES AND EARNINGS IN FIRST NINE MONTHS OF 2020 - Seite 2

Adj. = adjusted
bps = basis points

¹ To facilitate comparison, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions and associated reorganization expenses.
² Retrospectively adjusted to account for the recognition of the Data Solutions business unit as a discontinued operation pursuant to IFRS 5.
³ Consolidated net income from continuing operations.

BUSINESS PERFORMANCE
At € 179.1 million, consolidated sales for the first nine months of 2020 showed both constant-currency and nominal growth of 13.1% compared with the previous year's period. The high level of additional demand seen for in-vitro diagnostics products to contain the COVID-19 pandemic continued unabated in the third quarter (consolidated sales Q3/2020: +22.4% at constant-currency). Against this backdrop, the systems business in particular showed highly dynamic developments in the first nine months of 2020. Sales with service parts and consumables also reported double-digit percentage growth. By contrast, sales with development and services fell by more than € 10 million in the first nine months of 2020. This reduction, which was in line with expectations, was due not least to the exceptionally high basis of comparison of the previous year's period.

Adjusted EBIT improved by 40.7% to € 28.1 million in the first nine months of 2020, compared with € 20.0 million in the previous year's period. As a result, the adjusted EBIT margin rose by 310 basis points to 15.7% (9M/2019: 12.6%). This substantial increase in the margin was driven by positive benefits of scale, as well as by improved sales and product mixes. Measures taken within the initiative to improve earnings launched in 2018 also showed their expected effect. By contrast, measurement items for stock appreciation rights had a negative impact of 280 basis points on the margin.

Adjusted consolidated net income from continuing operations (pursuant to IFRS 5) increased by 49.2% to € 23.8 million (9M/2019: € 15.9 million). Adjusted earnings per share (basic) from continuing operations for the first nine months of 2020 rose by 48.1% to € 1.97, up from € 1.33 in the previous year's period.

To facilitate comparison, key earnings figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and associated reorganization expenses. A reconciliation of the adjusted figures with those reported in the consolidated income statement can be found in the Quarterly Statement 9M|2020 also published today.