Business Wire

First-Quarter Figures: Sartorius Starts off Fiscal 2018 Successfully

Jaa

Sartorius, a leading international partner of the biopharmaceutical industry and the research sector, looks back on a successful first quarter 2018.

"Both divisions started off the year strongly in line with our expectations and further increased their revenues in the first quarter of 2018 in all regions. On the currency side, however, we faced some headwinds, especially due to the weakness of the U.S. dollar against the euro, which dampened our profit growth. Order intake developed at an encouragingly strong level for both divisions so we look optimistically to the months ahead and confirm our full-year forecast," said CEO Dr. Joachim Kreuzburg.

Business development of the Sartorius Group

In the first quarter of 2018, Sartorius increased its sales revenue by 11.4% (reported: 6.3%) in constant currencies to 364.9 million euros, with acquisitions contributing around 4.5 percentage points to this growth. Order intake for the same period rose 12.4%.

Regionally, Asia|Pacific recorded the strongest growth, with sales up 18.2% to 89.0 million euros. In the Americas, sales revenue also grew significantly at a rate of 13.8% to 116.6 million euros. In the EMEA2 region, Sartorius generated revenue of 159.3 million euros, 6.3% more than in the comparable year-earlier period. (All growth rates for the regions and order intake in constant currencies.)

Despite unfavorable currency effects, underlying EBITDA increased by 4.7% compared against a strong prior-year base and reached 88.6 million euros. The underlying EBITDA margin was diluted by around 0.5 percentage points due to currency effects and reached 24.3% at the end of the first quarter of 2018 relative to 24.7% for the first three months of 2017. Relevant net profit3 for the Group grew by 8.0% from 34.4 million euros to 37.2 million euros. Earnings per ordinary share totaled 0.54 euros (Q1 2017: 0.50 euros) and earnings per preference share 0.55 euros (Q1 2017: 0.51 euros).

The Group's key financial indicators continued to remain at robust levels. At the end of the reporting period, the company's equity ratio was 35.4%, and its ratio of net debt to underlying EBITDA stood at 2.5 (Dec. 31, 2017: 35.1% and 2.5, resp.). The capex ratio in the first three months of 2018 was 10.3%, as expected, due to the expansion of the Group's worldwide infrastructure.

Business development of the divisions

The Bioprocess Solutions Division, which offers a wide array of innovative technologies for the manufacture of biopharmaceuticals, recorded first-quarter sales growth of 10.0% in constant currencies to 263.4 million euros (reported: +4.9%). Demand for single-use technologies was especially strong in the reporting period. Consolidation of Umetrics acquired in the previous year contributed around 1.5 percentage points of non-organic growth in the first three months of 2018. Order intake rose by 9.1% in constant currencies.

Underlying EBITDA of the Bioprocess Solutions Division rose somewhat underproportionately relative to sales, by 2.9% to 70.3 million euros. Impacted by currency effects, the Group's corresponding margin was 26.7% relative to 27.2% in the previous period.

The Lab Products & Services Division, which offers products and technologies for laboratories primarily in the pharma sector and in life science research, recorded a significant gain in revenue, up 15.3% in constant currencies (reported: +10.3%) to 101.4 million euros. The acquisition of Essen BioScience contributed non-organic growth of around 11 percentage points. In order intake, the division saw strong growth of 22.7% in constant currencies.

Underlying earnings for Lab Products & Services rose 12.6% to 18.3 million euros. Despite negative currency impacts, the division's earnings margin increased from 17.7% to 18.0%, especially driven by volume and product mix effects.

Forecast for the full year confirmed

Based on the company's performance in the first quarter of 2018, management confirmed its sales and earnings forecast for the full year: Group sales revenue is projected to increase by about 9% to 12% and its underlying EBITDA margin by about 0.5 percentage points compared with the year-earlier figure of 25.1%.

For the Bioprocess Solutions Division, management continues to expect that sales will grow about 8% to 11%. This figure includes non-organic growth of approximately 0.5 percentage points contributed to sales. The division's underlying EBITDA margin is projected to increase from 28.0% to around 28.5%.

Based on its unchanged forecast for the Lab Products & Services Division, Sartorius also continues to anticipate that sales will expand approximately 12% to 15%. This projection includes more than 2.5 percentage points of non-organic growth contributed by Essen BioScience consolidated as of the end of March 2017. The division's underlying EBITDA margin is expected to increase by around one percentage point to more than 19.0%.

All forecasts are based on constant currencies. Due to the latest foreign exchange developments, the results reported in actual currencies may differ. We will explain the particular effects during the course of 2018.

1 Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator

2 EMEA = Europe | Middle East | Africa

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 Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties. This is a translation of the original German-language press release. Sartorius shall not assume any liability for the correctness of this translation. The original German press release is the legally binding version. Furthermore, Sartorius reserves the right not to be responsible for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which is incomplete or incorrect, will therefore be rejected.

Current image files

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius AG

www.sartorius.com/fileadmin/media/global/company/Sartorius_Kreuzburg.jpg

Sartorius products used in the manufacture of medications

www.sartorius.com/mediafile/corp/Sartorius_0232_PG9_01_RGB.jpg

Sartorius products used in pharmaceutical research

www.sartorius.com/mediafile/corp/Sartorius_0424_PG14.jpg

Conference call

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, 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 by clicking on the following link:

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:

http://www.sartorius.com/com/group/investor-relations/sartorius-ag/

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

The Sartorius Group is a leading international pharmaceutical and laboratory equipment provider with two divisions: Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions with its broad product portfolio focusing on single-use solutions helps customers produce biotech medications and vaccines safely and efficiently. Lab Products & Services, with its premium laboratory instruments, consumables and services, concentrates on serving the needs of laboratories performing research and quality assurance at pharma and biopharma companies and on those of academic research institutes. Founded in 1870, the company earned sales revenue of more than 1.4 billion euros in 2017. More than 7,500 people work at the Group's approximately 50 manufacturing and sales sites, serving customers around the globe.

Key Performance Indicators for the First Quarter of 2018

Sartorius Group Bioprocess Solutions Lab Products & Services
In millions of € (unless otherwise specified) Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1 Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1 Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1
Sales Revenue and Order Intake
Sales revenue 364.9 343.1 6.3 11.4 263.4 251.1 4.9 10.0 101.4 92.0 10.3 15.3
- EMEA2 159.3 151.2 5.3 6.3 111.3 105.6 5.4 6.1 48.0 45.6 5.3 6.9
- Americas2 116.6 111.9 4.2 13.8 90.7 91.2 -0.5 8.8 25.9 20.8 24.9 35.3
- Asia | Pacific2 89.0 80.0 11.3 18.2 61.5 54.4 13.1 19.7 27.5 25.6 7.4 15.0
Order intake 404.8 376.9 7.4 12.4 295.1 283.5 4.1 9.1 109.6 93.4 17.3 22.7
Earnings
EBITDA3 88.6 84.6 4.7   70.3 68.4 2.9   18.3 16.3 12.6  
EBITDA margin3 in % 24.3 24.7     26.7 27.2     18.0 17.7    
Net profit for the period4 37.2 34.4 8.0                  
Financial Data per Share
Earnings per ordinary share4 in € 0.54 0.50 8.1                  
Earnings per preference share4 in € 0.55 0.51 8.0                  

1 In constant currencies abbreviated as "cc"

2 Acc. to the customer's location
3 Underlying
4 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.

Contact information

Sartorius
Petra Kirchhoff
Vice President of Corporate Communications and IR
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com
www.sartorius.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

P&G Launches New Film Highlighting Its Internal Journey for LGBT+ Inclusion18.6.2019 21:00:00 EESTTiedote

The Procter & Gamble Company (NYSE:PG) in partnership with Great Big Story, today released Out of the Shadows, a new film chronicling P&G’s journey of Lesbian, Gay, Bisexual and Transgender inclusion. The film highlights the employees who challenged the Company and overcame adversity during the tumultuous 1990s and early 2000s. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005920/en/ P&G, in partnership with Great Big Story, today released Out of the Shadows, a new film chronicling P&G’s journey of Lesbian, Gay, Bisexual and Transgender inclusion. The film highlights the employees who challenged the company and overcame adversity during the tumultuous 1990s and early 2000s. (Photo: Business Wire) In 1992, P&G became one of the first Fortune 500 companies to add sexual orientation into its diversity statement. The struggle for workplace equality for the LGBT+ community, however, was just beginning. Ravaged by the HIV/A

Rockwell Automation Opens New Electric Vehicle Innovation Center in Silicon Valley18.6.2019 17:00:00 EESTTiedote

Rockwell Automation, a leading solutions and services provider to the automotive industry, today opened a new 8,000 square-foot Electric Vehicle (EV) Innovation Center at 111 North Market Street in San Jose, California, within its Information Solutions development facility. The center will provide live manufacturing demonstrations, hands-on trials utilizing new technology and events showcasing collaboration with industry experts and Rockwell Automation partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005201/en/ Utilizing augmented and virtual reality modeling, the EV Innovation Center provides automotive start-ups and established manufacturers an environment to learn new technologies and standards, enabling them to deliver electric vehicles to market faster, with less risk and at lower cost. The combination of Rockwell Automation technology with partner technology is what makes the center unique. Specifically,

Andersen Name Grows in Poland18.6.2019 16:30:00 EESTTiedote

Just a few months after joining Andersen Global as a collaborating firm, KSP Legal and Tax Advice (KSP T.Srokosz i Wspólnicy Sp.k.), has adopted the name Andersen Tax & Legal and joined the Andersen Tax & Legal team in Poland. The Andersen name now has broad coverage in Poland with Andersen Tax & Legal offices in both Warsaw and Katowice. Marcin Matyka will be Managing Partner of Andersen Tax & Legal in Warsaw, while the team in Katowice will continue to be led by Office Managing Partner Magdalena Patryas. “We are excited to adopt the Andersen name and be a part of a global organization where we can provide best-in-class services in a seamless manner across the globe,” said Magdalena. “Very early in our relationship it was obvious that our group was very much aligned with Andersen values and the mission of providing the best in tax and legal services, what we have been doing in Katowice for the last 16 years.” The Katowice-based group has over 30 legal and tax advisors who provide lega

Ascend Completes Investment in Reliability, Capacity of NTA Chelate Production18.6.2019 16:00:00 EESTTiedote

Ascend Performance Materials, a global provider of premium chemicals, fibers and plastics, announced today the completion of a multimillion-dollar reliability and capacity investment in nitrilotriacetic acid production at its Chocolate Bayou facility in Alvin, Texas. The investment increased production of the company’s biodegradable chelate, FlexaTrac™-NTA, by over 10 percent. “Demand for our FlexaTrac-NTA has increased by nearly 30 percent over the past two years,” said Jonathan Craig, vice president of specialty chemicals at Ascend. “Our continued investment in capacity and production is about providing our customers with a biodegradable, cost-effective solution that meets their needs.” FlexaTrac-NTA is a highly effective chelating agent used primarily in industrial cleaning and oil and gas applications to bind to and isolate heavy metal ions. NTA has a higher binding capacity than other widely used chelates currently available in the market. About Ascend Performance Materials Ascend

DXC Technology Launches Innovation Centre in London18.6.2019 16:00:00 EESTTiedote

DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, today announced the opening of the DXC Innovation Centre in London for the company and its clients to develop and deliver high-impact digital solutions. DXC’s London Innovation Centre is a collaborative environment that draws on the company’s global experience in digital transformation, leverages its rich industry knowledge and independent partner network, and creates an environment for the incubation of ideas, learning and development. The London Innovation Centre adds to DXC’s digital network in the UK, which includes a Digital Transformation Centre in Newcastle that is already helping customers to transform and accelerate the creation of business value. As part of this network, DXC digital technologists and enterprise solution experts will work with customers and partners to modernize and integrate mainstream IT by deploying digital solutions at scale. “Our Innovation Centre brings together

Small Giant Games Announces Epic Expansion to Hit Franchise Empires & Puzzles18.6.2019 16:00:00 EESTTiedote

Small Giant Games (“Small Giant”), a subsidiary of Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, is announcing an epic expansion to its popular franchise, Empires & Puzzles. The expansion, backed by player demand, features significant base updates including an increase of the stronghold’s max level from 20 to 21 as well as advanced versions of mines, farms, storage units and houses. A brand new building, the Hunter’s Lodge, is also being introduced, allowing players to craft new battle items. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005014/en/ Empires & Puzzles from Small Giant Games (Graphic: Business Wire) “Since the Small Giant team joined the Zynga family last year, we’ve been blown away by their continued ingenuity in innovating within Empires & Puzzles, a cornerstone of our portfolio of forever franchises,” said Bernard Kim, President of Publishing at Zynga. “Comprised of passiona

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme