Full Year 2024 Stratec Se Earnings Call Transcript
Key Points
- Stratec SE (XTER:SBS) reported a significant improvement in margins, with the adjusted EBIT margin increasing by 250 basis points to 19.1%.
- The company achieved a strong cash flow from operating activities, increasing by 152% to EUR48.7 million.
- Stratec SE exceeded the higher end of its guidance range for 2024 regarding adjusted EBIT margin, which was between 10% to 12%.
- The company successfully renegotiated some long-term supply agreements, which is expected to positively impact future cash flows.
- Stratec SE is well-prepared for deglobalization with a strong presence in the United States and Europe, and is establishing a manufacturing site in Asia.
- Sales decreased by 4.7% compared to the previous year, primarily due to the application of new accounting principles.
- The company faced delays in its full-year disclosure due to the rotation of its balance sheet auditor and a routine Bafin audit.
- Stratec SE is experiencing elevated inventory levels, which are still too high due to long-term supply agreements made during the COVID-19 pandemic.
- There is a temporary decline in the percentage of sales coming from instruments, with customers hesitant to invest in new placements.
- The company is facing a high degree of fragmentation in the industry, leading to longer decision-making processes and increased efforts in sales and program management.
Welcome from my side to everyone joining us today for our full-year results conference call. With me today are, as always, our CEO, Marcus Wolfinger; as well as Oliver Albrecht, our CFO at Interim. Please note that this presentation will be webcast live, and you can download this presentation either from our website or directly from the webcast. And before we start, I also want to draw your attention to our Safe Harbor statement. This is on page 2 of the presentation.
And without further ado, I'm happy to hand over to Marcus.
Yes. Thanks, Jan, and a warm welcome from my side as well. I'm Marcus Wolfinger, CEO of Stratec. This will presentation consist out of four major segments. First of all, I would like to give you an overview of what happened in 2024. Then Oliver will take over for the financial review, which is certainly the main part of this presentation, followed by the outlook
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