STRATEC SE Announces First Quarter Financial Results for 2024

STRATEC SE, a German company listed on the Frankfurt Stock Exchange, reported its financial results for the first quarter of 2024. The results showed a decline in sales and earnings compared to the same period last year, but matched expectations and signal potential growth in upcoming quarters.

For Q1/2024, the company recorded consolidated sales of €50.9 million, a decrease of 15.7% at constant currency from Q1/2023's €60.5 million. The adjusted EBIT margin for the quarter was slightly down at 6.2% from 6.3% in the previous year, demonstrating resilience in margin performance despite the sales drop. The company credited this to efficiency measures and an improved sales mix focused more on Service Parts and Consumables, which have seen significant growth.

STRATEC also highlighted a robust development pipeline and recent advancements in development cooperations, particularly in the field of immunohematology. Despite the subdued market demand largely due to residual effects from the COVID-19 pandemic, STRATEC confirmed its financial guidance for 2024, forecasting strong sales growth in the second quarter and an adjusted EBIT margin of 10.0% to 12.0% for the year.

In addition, the company reported a decrease in personnel, aligning with its efficiency enhancement program initiated in 2023. STRATEC remains cautious but hopeful, as increased customer orders in the latter part of Q1 2024 suggest a positive shift in market dynamics moving forward.