- Group revenue up 9.8%; driven by
positive development in all regions
- Exchange rate effects dampen profit
growth
- Guidance for 2018 confirmed
Regulatory News:
Sartorius Stedim Biotech (SSB)(Paris:DIM), a leading partner of
the biopharma industry, successfully started off the year 2018.
“In the first quarter, we have seen continued positive business
momentum in all regions. On the currency side, we faced
considerable headwinds due to the depreciation of the U.S. dollar
against the euro, which also affected our profitability. Order
intake developed positively, giving us confidence that we are well
on track to deliver on our full-year targets,” said CEO Dr. Joachim
Kreuzburg.
Business development of the Group
In the first three months of 2018, Sartorius Stedim Biotech
increased its sales revenue in constant currencies by 9.8%
(reported +4.6%) from 268.8 million euros in the year-earlier
period to 281.1 million euros. The acquisition of the software
company Umetrics contributed around 1.5 percentage points of
inorganic growth. In the reporting period order intake increased by
9.0% in constant currencies (reported +3.9%).
Regionally, Asia|Pacific recorded the strongest growth, driven
by solid demand for single-use products. Sales were up by 19.5% to
64.8 million euros. First-quarter sales revenue for the Americas
region was 93.8 million euros, up 10.2% from a year ago. In the
EMEA1 region, SSB generated sales of 122.5 million euros, 5.0% more
than in the comparable year-earlier period (all regional growth in
constant currencies).
Compared with a strong prior-year base, underlying EBITDA2
increased 3.0%, and reached 74.0 million euros. Diluted by
unfavorable currency effects by approximately 0.5 percentage
points, the Group's respective margin was 26.3% relative to 26.7%
in the first three months of the previous year. Relevant net
profit3 for the Group grew by 7.0% from 44.0 million euros to 47.1
million euros. Earnings per share totaled 0.51 euros (3M 2017: 0.48
euros).
The Group's key financial indicators remained at very robust
levels. At the end of the reporting period, the ratio of net debt
to underlying EBITDA stood at 0.4, and company's equity ratio was
62.8% (Dec. 31, 2017: 0.4 and 62.6%, resp.). The capex ratio in the
first three months of 2018 was 9.2%.
2018 guidance confirmed
In view of positive business development in the first quarter of
2018, management confirms its full-year forecast for 2018: In
constant currencies, sales revenue is expected to increase by about
7% to 10%, and the underlying EBITDA margin is anticipated to rise
by approx. 0.5 percentage points over the prior-year figure of
27.3%
Because of the latest currency developments, reported figures in
actual currencies might differ from constant currency guidance;
details will be provided as 2018 progresses.
1 EMEA = Europe | Middle East | Africa
2 Sartorius uses underlying EBITDA (earnings before interest,
taxes, depreciation and amortization and adjusted for extraordinary
items) as the key profitability indicator
3 After non-controlling interest, adjusted for extraordinary
items and non-cash amortization, as well as based on the normalized
financial result and corresponding tax effects
This press release contains statements about the future
development of the Sartorius Stedim Biotech Group. We cannot
guarantee that the content of these statements will actually apply
because these statements are based upon assumptions and estimates
that harbor certain risks and uncertainties.
Conference call
Joachim Kreuzburg, CEO and Chairman of the Board of the
Sartorius Stedim Biotech Group, will discuss the company’s results
with analysts and investors on Tuesday, April 24, 2018, at 3:30
p.m. Central European Time (CET), in a teleconference. You may
register for the teleconference at:
http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=2821803&linkSecurityString=eeaa4dd9
Alternatively, you can dial into the teleconference, without
registering, at:+49 (0) 69 566 03 6000
To view the presentation, log onto: www.sartorius-stedim.com
Current Image Files
Dr. Joachim Kreuzburg, CEO and Chairman of the
Boardwww.sartorius.com/fileadmin/media/global/company/Sartorius_Kreuzburg.jpg
Sartorius products used in the manufacture of
medicationshttps://www.sartorius.com/mediafile/corp/Sartorius_0232_PG9_01_RGB.jpg
Upcoming Financial Dates
July 24, 2018 Publication of the first-half figures (January to
June 2018)
October 23, 2018 Publication of nine-month figures (January to
September 2018)
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international supplier of
products and services that enable the biopharmaceutical industry to
develop and manufacture drugs safely and efficiently. As a total
solutions provider, Sartorius Stedim Biotech offers a portfolio
covering nearly all steps of biopharmaceutical manufacture. The
company focuses on single-use technologies and value-added services
to meet the rapidly changing technology requirements of the
industry it serves. Headquartered in Aubagne, France, Sartorius
Stedim Biotech is quoted on the Eurolist of Euronext Paris. With
its own manufacturing and R&D sites in Europe, North America
and Asia and an international network of sales companies, Sartorius
Stedim Biotech has a global reach. In 2017, the company employed
approx. 5,100 people, and earned sales revenue of €1,081.0
million.
Key Performance Indicators for the first quarter of
2018
€ in millions unless
otherwise specified
3 months 2018 3 months2017
Growth in %
Growthin %const. fx
Sales revenue 281.1 268.8 +4.6 +9.8
EMEA1 122.5 117.4 +4.4 +5.0 Americas1
93.8 94.1 -0.3 +10.2 Asia | Pacific1
64.8 57.3 +13.1 +19.5 Order intake
313.8 302.1 +3.9 +9.0 EBITDA2
74.0 71.9 +3.0 EBITDA margin2 in %
26.3 26.7 -0.4pp Net profit3
47.1 44.0 +7.0 Earnings per
share3 in € 0.51 0.48 +7.0
1 According to customers’ location
2 Underlying EBITDA = earnings before interest, taxes,
depreciation and amortization, and adjusted for extraordinary
items
3 Underlying net profit = net profit after non-controlling
interest; adjusted for extraordinary items and non-cash
amortization, as well as based on a normalized financial result and
tax rate
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180423006649/en/
Sartorius Stedim Biotech
Petra Kirchhoff
Vice President of Corporate Communications and IR
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com
www.sartorius-stedim.com
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