BIRKENFELD (dpa-AFX) - As expected, the diagnostics specialist Stratec has made a weak start to the new year. Sales and earnings fell, in some cases significantly. The company continues to suffer from the ongoing destocking by its customers. However, Stratec expects a noticeable recovery in the second quarter. The forecast for the year was confirmed.

The share price rose significantly on Friday morning, gaining more than ten percent. This made the share one of the biggest winners in the small-cap segment SDax and almost made up for the losses so far this year. The share is still down 2.6 percent. The share's balance sheet has been in deep red recently. After the initial coronavirus boom with share prices above 140 euros, the share price fell again from fall 2021. The share price recently stabilized around EUR 40.

Analysts at private bank Berenberg described the quarterly figures as mixed. The operating result was largely in line with market expectations. In terms of turnover, however, the estimates were missed. According to the analysts, the confirmation of the forecast, which was considered rather disappointing when the annual figures were published, should now be seen as encouraging.

Turnover fell by 15.9 percent to around 50.9 million euros in the first quarter, 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 previous year. Stratec had already predicted a weak quarter when presenting its annual figures at the end of March.

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 anticipate stable to slightly increasing consolidated sales on a currency-adjusted basis and an adjusted EBIT margin of 10 to 12 percent./nas/mis/jha/