BIRKENFELD (dpa-AFX) - Diagnostics specialist Stratec is becoming more cautious for 2023 after a disappointing first half. Sales adjusted for currency effects are expected to be stable to slightly up year-on-year, the company announced on Tuesday evening. Previously, Stratec had assumed an eight to twelve percent increase in sales. According to Stratec, the reasons for the new caution include the expectation of significantly reduced customer orders. In addition, sales of service parts are likely to be lower than originally planned due to lower than expected capacity utilization.

In the first half of the year, Stratec's sales fell by 8.9 percent to 125 million euros compared to the same period last year. The Ebit margin (earnings before interest and taxes) fell from 15.4 to 5.6 percent. Overall, the results for the first half of the year were slightly below the company's own expectations, it added. This was due, among other things, to lower demand for products for which there was a significant increase in demand during the coronavirus pandemic. In addition, there was a decline in sales of veterinary diagnostic solutions.

Investors were horrified. In an initial reaction, Stratec's share price on the Tradegate trading platform slumped by seven percent compared to the Xetra close./he/ck