Stratec falls on 'weak' Q4 results, guidance
28/03/2024 09:18
** Shares in Stratec SBSG.DE fall 10% after the German
biomedical technology company reported both fourth-quarter
results and outlook for 2024 behind expectations
** Q4 adjusted EBIT came in at 10.85 million euros, about
10% below consensus, while guidance implies notable EPS
downgrades of about 20%, Berenberg says
** The company expects 2024 sales in constant currency to
remain stable or grow slightly, with an adjusted EBIT margin of
around 10% to 12%
** "Given the pre-release last week that confirmed the
company would be within its guidance range for FY 2023, the fact
that Stratec's targets were met at the very lower end followed
by weak FY24 guidance could disappoint investors," Berenberg
writes
** Stratec's stock falls to the bottom of Germany's
small-caps index .SDAXI and if losses hold, it will see its
worst day since July 2023
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))