First-Quarter Figures: Sartorius Stedim Biotech Off to a Good Start in 2017
24 April 2017 - 2:55PM
Business Wire
Regulatory News:
€ in millions
3 months 3 months Growth
in % Growth unless otherwise
2017 2016 in % specified
const. fx Sales
revenue 268.8 245.8 9.4 8.2 EMEA1
117.4 114.1 2.9 4.0 Americas1
94.1 91.0 3.4 0.4 Asia | Pacific1 57.3
40.7 40.9 37.5 Order intake 302.1
274.1 10.2 9.0 EBITDA2 71.9 64.6
11.2 EBITDA margin2 in % 26.7
26.3 Net profit3 44.0
39.4 11.5 Earnings per share3,4 in €
0.48 0.43 11.6
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
4 Q1 2016 adjusted for stock split
Continued top-line growth
Sartorius Stedim Biotech (SSB), a leading supplier for the
biopharma industry, recorded an increase in sales revenue of around
8% in the first quarter of 2017. As expected, the market
environment returned to normal growth rates after two exceptional
years. Business development in the Americas was influenced by
softer customer demand as well as by limited delivery capacities
for cell culture media, while Asia | Pacific posted the highest
growth rate with a gain of around 37%, driven by strong demand
across the portfolio. The acquisition of the software company
Umetrics, closed in early April, did not affect Q1 2017
results.
Overproportionate rise in profits
Driven by economies of scale, SSB’s underlying EBITDA increased
by 11.2% to 71.9 million euros; the corresponding margin reached
26.7%. Underlying earnings per share were 0.48 euros, up year over
year from 0.43 euros.
Strong financial position
With an equity ratio of 61.9% and a ratio of net debt to
underlying EBITDA of 0.3, SSB’s financial position remained very
strong and stable. Net debt at the end of the first quarter stood
at 74.8 million euros.
2017 guidance confirmed
Based on the company’s first-quarter results, management
confirmed its full-year forecast for 2017. Sales revenue is
expected to increase by about 8% to 12% and the underlying EBITDA
margin is anticipated to rise by approx. 0.5 percentage points over
the prior-year figure of 27.5%, with both forecasts given in
constant currencies.
SSB continues to project capital expenditures of around 10% to
13% of sales in the current year.
Including the acquisition of Umetrics and excluding any further
potential acquisitions, the ratio of net debt to underlying EBITDA
at the end of 2017 is expected to be slightly above the level of
0.2 reported for year-end 2016.
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 Monday, April 24, 2017, 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=2173934&linkSecurityString=8938b98a
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
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 2016, the company employed
approx. 4,700 people, and earned sales revenue of 1.052 million
euros.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170423005058/en/
Sartorius Stedim BiotechPetra Kirchhoff, +49 (0)551.308.1686Vice
President of Corporate
Communicationspetra.kirchhoff@sartorius.com
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