Report

Stratec - Strong sales growth helped by COVID-19

Stratec SE is a highly regarded German company that designs, develops and supplies about 8,000 fully automated diagnostics systems and modules annually. Clients include major companies like Hologic, DiaSorin and Siemens Healthineers. Typical 12–15-year product life cycles give underlying stability. Stratec is benefiting from COVID-19 driven diagnostic demand. H120 sales were €119.4m, up 9.9% y-o-y, with a 15.4% adjusted EBIT margin. The company guides to FY20 revenue growth of 14–18% with a 15.5–16.5% adjusted EBIT margin.
Underlying
Stratec SE

STRATEC Biomedical designs and manufactures automation solutions and technologies for use mainly in in-vitro diagnostics (IVD) and in other regulated markets. IVD refers to those diagnostics activities performed outside the body in a glass or in test receptacles in a laboratory. Co. operates through two segments: Instrumentation and All Other. In the Instrumentation segment, Co. designs and manufactures fully automated analyzer systems for its clinical diagnostics and biotechnology customers. In its all other segment, Co. develops workflow software for networking several analyzer systems and develops and sells scientific materials and technologies such as nucleic acid purification.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Sean Conroy

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