Stratec (SBS) Investor presentation summary

Business overview and market position

• Leading OEM provider of automation solutions for diagnostics and translational research, with over 1,400 employees and a global installed base of around 50,000 systems.

• Production sites span Germany, Switzerland, Hungary, Austria, and the US, supporting a diversified international presence.

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

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

• Maintains long-term partnerships with top global IVD companies, supporting recurring revenue streams.

Financial performance and key metrics

• H1 2026 sales reached €112.5 million, down 3.3% year-over-year at constant currency, with strong system sales offset by lower service parts and consumables.

• Adjusted EBIT for H1 2026 was €7.7 million (6.9% margin), nearly matching the prior year despite a decrease in high-margin consumables.

• Free cash flow improved significantly to €23.5 million in H1 2026, driven by reduced trade receivables.

• Net debt/EBITDA ratio improved to 2.9x, and the equity ratio increased to 58.1%.

• Sales split in 2025: Systems 35%, Service Parts & Consumables 41%, Development & Services 24%.

Strategic initiatives and outlook

• 2026 guidance confirmed: medium to high single-digit sales growth expected, with adjusted EBIT margin targeted at prior year’s level (10%).

• Focus areas include cost discipline, efficient transfer of new systems to production, and mitigating profitability dilution from certain business units.

• Sales CAGR of 6–8% targeted for 2025–2028, with adjusted EBIT margin goals of at least 13% by 2028 and 15% by 2030.

• Pipeline includes next-generation immunoassay, molecular, and immunohematology systems, with several products in advanced ramp-up phases.

• Strategic emphasis on operational and commercial excellence, portfolio optimization, and leveraging scale for margin improvement.