PowerPoint-Präsentationir.stratec.com/stratec/pdf/pdf_id/449877.pdf · 2 FY 2016 Annual Results...

FY 2016 Annual Results

April 20, 2017

Conference Call

www.stratec.com 2 FY 2016 Annual Results

Conference Call – April 20, 2017

Forward-looking statements involve risks.

This company presentation 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.

SAFE HARBOR STATEMENT



• 2016 at a Glance

• Performance in 2016

• Focus 2017

• Questions and Answers

AGENDA

www.stratec.com FY 2016 Annual Results


• Sales: € 184.9 million (+25.9%)

• EBIT: € 32.3 million (1) (+20.1%)

• EBIT margin: 17.5% (1) (-80 bps)

• Net income: € 25.4 million (2) (+14.9%)

• Tax rate at 14.7% (2015: 18.7%)

• EPS: € 2.14 (2) (+14.4%)

• Equity ratio: 55.7% (2015: 82.0%)

• Proposed dividend per share: € 0.77 (previous year: € 0.75)

2016 at a Glance

4

Financial Performance

(1) figure adjusted for one-off items resulting from transaction activities and related reorganization expenses (2) figure additionally adjusted for financing expenses and tax expenses in connection with the acquisitions of the Diatron Group and STRATEC Consumables,

for one-off items resulting from the tax audit for the 2009 to 2013 assessment periods, and for tax effects relating to reorganization expenses



• Service parts business improved to 29.0% of total sales

(2015: 24.3%) – including Diatron & STRATEC Consumables

• New developments for major customer programs

• Milestones for ongoing developments achieved

• Development of three STRATEC platforms in advanced stage

Update on integration process of newly acquired units

• Integration process transformed into optimization program

• Combined business cases on the way

• Implementation of a group-wide ERP system

2016 at a Glance

5

Operational Performance





• Focus 2017


AGENDA



Sales

7

Full Year Sales as of December 31

123 128 145 147 148

37

0

20

40

60

80

100

120

140

160

180

200

2012 2013 2014 2015 2016

Annual Sales as of 12/31

• 2016: +25.9% to € 184.9 million

• Organic: €148.1 million (+0.8%)

• Growth driven by:

Service parts business

Development projects

Diatron and STRATEC

Consumables

Sales in € million 184.9



Installed Base and Product Groups

Service parts

Analyzer systems

Development, service and consulting

As of December 31

Installed base (based on a 5 year average life cycle)

Number of analyzer systems delivered

Delivered systems & installed base Relative share by product group

As of December 31

0

2.000

4.000

6.000

8.000

10.000

12.000

14.000

16.000

18.000

20.000

2012 2013 2014 2015 2016*

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012 2013 2014 2015 2016

* 2016 includes delivered systems by Diatron



Gross Profit / EBIT

9

As of December 31

31,0%

37,5% 33,3%

20%

25%

30%

35%

40%

45%

50%

0

10

20

30

40

50

60

70

2014 2015 2016

Gross margin as % of sales Gross profit in € million

Gross profit Gross margin

As of December 31

EBIT EBIT margin

EBIT in € million EBIT margin in %

12%

14%

16%

18%

20%

22%

0

5

10

15

20

25

30

35

2012 2013 2014 2015 2016

Gross Profit and Gross Margin EBIT and EBIT Margin

EBIT margin at 17.5%* (2015: 18.3%)

• Organic adjusted EBIT-margin at 19.3%

• Positive service parts contribution

Gross margin at 33.3%

• Impact from new entities

• Lower margins at the new subsidiaries

*2016 figure adjusted to exclude non-recurring items for transaction activities

*



EBIT Adjustments



Cost Structure

11

As of December 31

Main cost drivers

• Sales related expenses increased by

110% to € 12.8 million

• Due to higher project support

services for new systems

• Inclusion of newly acquired

companies

• R&D expenses +8.8 % to € 22.8

million

• High number of development

projects

• Increased headcount

0

10

20

30

40

50

60

2014 2015 2016

R&D capitalized

Sales related expenses

General administration expenses

R&D (non-capitalized)

€ m

illio

n

*


Conference Call – April 20, 2017 12

As of December 31

9%

10%

11%

12%

13%

14%

15%

16%

02468

10121416182022242628

2012 2013 2014 2015 2016

Consolidated net income in € million Margin in %

Consolidated net income

Consolidated net income margin

119 132 168 187

214

0

25

50

75

100

125

150

175

200

225

2012 2013 2014 2015 2016

€ ce

nt

EPS as of 12/31

• EPS at € 2.14*

• Proposed dividend per share: € 0.77

(previous year: € 0.75)

Consolidated Net Income

As of December 31

Earnings per Share

Net Income / EPS

*2016 figure adjusted to exclude non-recurring items for transaction activities and adjusted to exclude financing expenses and tax expenses in connection with the acquisition of the Diatron Group and non-recurring items

arising from the external tax audit for the assessment periods from 2009 to 2013.

*

€ cent



Cash Flow

13

As of December 31

IFRS (€ million) 2016 2015

Cash flow – operating activities 16.3 26.0

Cash flow – investment activities -86.7 -8.7

Cash flow – financing activities 40.6 -8.7

Free cash flow -70.4 17.3

Cash and cash equivalents

at end of period 26.5 56.4





• Focus 2017


AGENDA



• Sales guidance for 2017: €205 million to €220 million

• Organic double digit top line growth in 2017

• Profitability in 2017 on a broadly stable level

• Guidance to be updated with H1 results in July 2017

Financial Guidance

Financial Guidance

Focus in 2017 and beyond

FY 2016 Annual Results

Conference Call – April 20, 2017 www.stratec.com 16

• Improve profitability across business (benefits of scale driven by top-line growth)

• Further realize synergies through development activities across STRATEC businesses

• Expand leading market role

• Facilitate integration process of instrument and consumables for partners

• Achieve milestones & market launches

• Accelerate development and supply agreement execution

QUESTIONS

&

ANSWERS

THANK YOU

FOR YOUR ATTENTION!

STRATEC Biomedical AG

Gewerbestr. 37

75217 Birkenfeld

Germany

Tel: +49 7082 7916-0

Fax: +49 7082 7916-999

www.stratec.com

Marcus Wolfinger

CEO

[email protected]

TICKER

Symbol: SBS.DE

Bloomberg: SBS:GR

Reuters: SBSG.DE

ISIN: DE000STRA555

WKN: STRA55

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