STRATEC reports contract discontinuation and updates guidance
Birkenfeld, July 12, 2013
STRATEC Biomedical AG (Frankfurt: SBS; Prime Standard, TecDAX) today reports that the company has been informed by a customer on July 11, 2013 that a contract announced on December 14, 2010 concerning the development and supply of an analyzer system will no longer be continued due to a strategic change on the part of this customer. STRATEC expects the impact on future budgeted development and production sales to be in the double-digit million euro range. The amount of compensation expected to be paid to STRATEC is currently under negotiation.
Excluding this potential compensation payment, STRATEC expects to generate sales of between Euro 127 million and Euro 138 million in the 2013 financial year, with an EBIT margin of between 14.0% and 15.5%. Given the other analyzer systems currently in development that are expected to be launched by customers between 2014 and 2016, the company expects to generate average annual sales growth of 8% to 12% through to 2017 based on 2013 sales figures. This company forecast replaces the previously valid forecast.
As planned, the company’s interim report as of June 30, 2013 will be published on July 23, 2013.
STRATEC Biomedical AG (www.stratec.com) designs and manufactures fully automated analyzer systems for its partners in the fields of clinical diagnostics and biotechnology. These partners market such systems, in general together with their own reagents, to laboratories, blood banks and research institutes around the world. The company develops its products on the basis of its own patented technologies. Shares in the company (ISIN: DE0007289001) are traded in the Prime Standard segment of the Frankfurt Stock Exchange, and are a constituent of the Deutsche Börse TecDAX.
Further information can be obtained from:
STRATEC Biomedical AG
André Loy, Investor Relations
Gewerbestr. 37, 75217 Birkenfeld
Phone: +49 7082 7916 190
Fax: +49 7082 7916 999