Stratec (SBS) Corporate presentation summary

Business overview

• Leading OEM provider of automation solutions for diagnostics and translational research, with over 1,400 employees and global production sites.

• Installed base of around 50,000 systems worldwide, with a sales split in 2025 of 35% systems, 41% service parts and consumables, and 24% development and services.

• Focuses on high-complexity, fast-growing IVD market segments such as molecular diagnostics, immunodiagnostics, and immunohematology.

• Benefits from industry trend toward outsourcing instrumentation development, leveraging a broad technology pool and long-term customer partnerships.

• Recurring revenue base is strong, with service parts and consumables accounting for over 40% of sales.

Financial performance

• Q1 2026 sales declined 11.5% year-over-year to €53.4 million, with adjusted EBITDA margin dropping to 8.8% and adjusted EBIT margin to 1.3%.

• Decline attributed to negative scale and product mix effects, and a decrease in service parts and consumables sales due to customer logistics optimizations.

• Free cash flow improved significantly to €18.6 million, driven by reduction in trade receivables.

• Net debt reduced by 17.1% to €93.2 million, with an equity ratio of 57.9%.

• FY 2025 sales were €250.9 million, with a 10.0% adjusted EBIT margin and 1,403 employees.

Strategic outlook

• 2026 sales expected to grow mid to high single digits (constant currency), with volumes heavily weighted to the second half.

• Adjusted EBIT margin targeted at around 10%, with investments in assets projected at 6.5–8.5% of sales.

• By 2028, aims for a 6–8% sales CAGR and adjusted EBIT margin of at least 13%; by 2030, targets >15% margin and 10–12% sales CAGR.

• Growth to be driven by new product launches, system sales, and expansion in service parts and consumables.

• Launch pipeline includes next-generation immunoassay and molecular systems, and new high-sensitivity platforms.