Stratec (SBS) Investor Presentation summary

Business overview and market position

• Leading OEM provider of automation solutions for diagnostics and translational research, with over 1,500 employees and more than 50,000 systems installed globally.

• Production sites in Germany, Switzerland, Hungary, Austria, and the US, with a strong focus on R&D (about 50% of staff).

• Sales in 2024 reached €257.6 million, with a CAGR of ~13% since IPO.

• Main revenue streams: systems (32%), service parts and consumables (43%), development and services (25%).

• Long-term partnerships with global top 20 IVD companies and technology innovators.

Market focus and growth drivers

• Active in high-growth IVD segments: molecular diagnostics, immunodiagnostics, advanced imaging, and cell & gene therapy.

• Benefiting from the ongoing trend of outsourcing instrumentation development by diagnostics companies.

• Recurring revenue base strengthened by growing installed system base and increasing system complexity.

• Focus on high-sensitivity immunoassays, advanced imaging, and cell & gene therapy as key market areas.

• Leveraging established partnerships and technology pools to address evolving customer needs.

Financial performance and key figures

• 2024 sales declined 4.9% yoy (cc) to €257.6 million, mainly due to pandemic-related disruptions and customer inventory levels.

• Adjusted EBIT rose 10.1% to €33.5 million, with margin up 180 bps to 13.0%; strong gross margin improvement to 29.7%.

• Q1 2025 sales up 12% yoy (cc) to €60.4 million; adjusted EBIT up 83.6% to €5.4 million.

• Free cash flow rebounded to €32.7 million in 2024, with net debt/EBITDA reduced to 1.8x.

• Dividend per share proposed at €0.60 for 2024, subject to AGM approval.