BIRKENFELD (dpa-AFX) - The diagnostics specialist Stratec has made a weak start to the new year. Due to continued destocking by customers, sales in the first quarter fell by 15.9 percent to around 50.9 million euros, as the company announced in Birkenfeld on Friday. Adjusted earnings before interest and taxes (EBIT) fell by 17.6 percent to 3.15 million euros. The restructuring program implemented by the company showed its first effects. The adjusted EBIT margin fell only slightly by 0.1 percentage points to 6.2%. The bottom line was an adjusted profit of 1.2 million euros, almost half less than in the same period last year. Stratec had already predicted a weak first quarter when presenting its annual figures at the end of March. However, an improvement is now in sight.

The first quarter continued to be characterized by the reduction of customer inventories and subdued demand in the area of molecular diagnostic systems due to the lingering effects of the coronavirus pandemic. Stratec expects an upturn from the second quarter onwards. The SDax-listed company expects a "very strong" increase in sales for the second quarter of the year.

The Group has confirmed its forecast for the year and continues to expect sales to remain stable or increase slightly after adjusting for exchange rate effects and an adjusted EBIT margin of 10 to 12 percent./nas/mis