from STRATEC SE (isin : DE000STRA555)
EQS-Adhoc: STRATEC POSTS PRELIMINARY RESULTS FOR FIRST NINE MONTHS OF 2024: TARGET CORRIDOR FOR ADJUSTED EBIT MARGIN CONFIRMED WITH ADJUSTMENT TO 2024 SALES GUIDANCE
EQS-Ad-hoc: STRATEC SE / Key word(s): Preliminary Results/Change in Forecast
STRATEC POSTS PRELIMINARY RESULTS FOR FIRST NINE MONTHS OF 2024: TARGET CORRIDOR FOR ADJUSTED EBIT MARGIN CONFIRMED WITH ADJUSTMENT TO 2024 SALES GUIDANCE
17-Oct-2024 / 19:43 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
STRATEC POSTS PRELIMINARY RESULTS FOR FIRST NINE MONTHS OF 2024; TARGET CORRIDOR FOR ADJUSTED EBIT MARGIN CONFIRMED WITH ADJUSTMENT TO 2024 SALES GUIDANCE
Birkenfeld, October 17, 2024
Based on preliminary figures, STRATEC generated consolidated sales of € 176.3 million in the first nine months of 2024 (9M/2023: € 187.7 million). Its sales performance in the third quarter of 2024 therefore fell short of expectations. This is mainly due to deliveries being postponed to the fourth quarter of 2024 and the 2025 financial year respectively. Despite negative scale effects and the product mix still not being optimal, STRATEC managed to achieve a level of profitability consistent with the targeted pathway needed to meet its full-year margin guidance for 2024. Based on preliminary calculations, the adjusted EBIT margin for the first nine months of 2024 will amount to 8.4% and thus almost match the previous year’s level (adjusted EBIT margin 9M/2023: 8.6%). In this respect, the margin has benefited in particular from the earnings enhancement measures initiated eighteen months ago and since continually extended, as well as from the associated early steps to adjust capacities in line with the current market situation.
Furthermore, STRATEC is shortly due to sign further additional orders with customers, most of which were not included in the original financial guidance for 2024. As a result, sales and earnings are expected to improve significantly in the fourth quarter of 2024 compared with the first nine months of 2024. STRATEC accordingly expects to be able to make up for most of the shortfall in sales by the end of the year. Given the ongoing volatility in the market climate, STRATEC’s Board of Management has therefore decided to slightly adjust its sales guidance for 2024. STRATEC now expects its constant-currency sales to remain stable or decline slightly compared with the previous year (previously: constant-currency sales to remain stable or rise slightly). By contrast, the 2024 guidance for the adjusted EBIT margin has been confirmed at around 10.0% to 12.0%.
STRATEC will publish its final figures and its Quarterly Statement for the first nine months of 2024 as planned on October 25, 2024.
FURTHER INFORMATION IS AVAILABLE FROM:
STRATEC SE
Jan Keppeler, CFA | Investor Relations, Sustainability & Corporate Communications
Tel: +49 7082 7916-6515
ir@stratec.com
www.stratec.com
End of Inside Information
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| Language: | English |
| Company: | STRATEC SE |
| Gewerbestr. 37 | |
| 75217 Birkenfeld | |
| Germany | |
| Phone: | +49 (0)7082 7916 0 |
| Fax: | +49 (0)7082 7916 999 |
| E-mail: | info@stratec.com |
| Internet: | www.stratec.com |
| ISIN: | DE000STRA555 |
| WKN: | STRA55 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2010991 |
| End of Announcement | EQS News Service |
2010991 17-Oct-2024 CET/CEST