STRATEC SE

Latest Results (05.02.2026):

STRATEC SE’s results for the first nine months of 2025 (9M/2025) show modest sales growth but weaker profitability: consolidated sales rose to €175.6m (+1.5% nominal; +2.5% at constant currency) while adjusted EBIT declined to €12.8m (adjusted EBIT margin 7.3%, down 150 bps). The company cites supply‑chain interruptions (trade‑policy related) that caused delivery backlogs in some system lines and weaker Service Parts & Consumables sales, while Development & Services grew strongly. Management expects a stronger earnings contribution in Q4 and maintained guidance for full‑year sales roughly flat (cc) with adjusted EBIT margin at the lower end of the 10.0–12.0% corridor.

Sales (9M/2025)

Consolidated sales: €175.6m in 9M/2025 (9M/2024: €173.0m). Growth was +1.5% nominal (+2.5% at constant currency). Systems sales were roughly flat (cc); Service Parts & Consumables slightly below prior year; Development & Services showed double‑digit growth.

Profitability (adjusted)

Adjusted EBITDA: €24.235m (–9.0% YoY), adjusted EBITDA margin 13.8% (–160 bps). Adjusted EBIT: €12.824m (–15.3% YoY), adjusted EBIT margin 7.3% (–150 bps). Adjusted consolidated net income: €7.104m (–15.8%); adjusted EPS €0.58 (–15.9%).

Reported earnings and Q3 highlights

Reported consolidated net income for 9M/2025: €4.103m (basic EPS €0.34, down from €0.39). Q3/2025 sales were €57.0m (Q3/2024: €60.3m; cc –3.4%), with adjusted EBIT for Q3 at €4.337m (–17.7% YoY) and adjusted consolidated net income for Q3 at €2.126m (–24.9% YoY). Note that adjusted and reported figures differ due to PPA amortization and one‑off items.

Operational headwinds — supply chain & customer behavior

STRATEC reported supply interruptions tied to trade‑policy tensions (a magnet component affected by rare‑earth export restrictions), causing delivery backlogs and reduced fourth‑quarter production capacity for affected system lines. Additionally, tariff tensions are increasing customer order volatility and logistics optimization, weighing on Service Parts & Consumables.

Outlook / guidance (2025)

STRATEC updated guidance: consolidated sales at constant currency expected to approximately match 2024; adjusted EBIT margin confirmed at the lower end of the previously announced 10.0–12.0% corridor (i.e., around 10%). Management expects stronger Q4 profitability driven by scale effects, efficiency measures and realized high‑margin development sales.

Cash flow and balance sheet moves

Cash fell to €22.4m at 30 Sept 2025 from €47.2m at year start. Operating cash flow was negative (€‑1.4m) in 9M/2025 (prior year €25.4m) and investing outflow was €13.4m. Financial liabilities increased on the non‑current side (non‑current financial liabilities €117.0m). Shareholders’ equity was €240.1m.

Business development & products

STRATEC reports continued momentum in Systems Development with new partnerships and multiple projects; launched the P780 clinical‑chemistry analyzer (Diatron brand) targeting medium‑to‑large labs. Management notes growing customer demand for lifecycle transfers and partners able to take full product lifecycle responsibility.

Workforce and efficiency actions

Headcount (including temporary staff and trainees) was 1,420 at 30 Sept 2025, down 2.9% YoY. The reduction aligns with ongoing efficiency and earnings improvement measures. Capital expenditures for 2025 are expected slightly below the previously guided 8–10% of sales range.