Sartorius provides preliminary first-half financial key figures and raises forecast for 2021

Rhea-AI Summary

Sartorius, based in Göttingen, Germany, projects strong growth in the first half of 2021, estimating revenue growth of approximately 60% in constant currencies. They anticipate an underlying EBITDA margin slightly above 34%. The Bioprocess Solutions Division expects a 63% revenue increase, while the Lab Products & Services Division is estimated to grow by 52%. Following this performance, Sartorius has raised its full-year sales growth forecast to around 45%. The company will release detailed half-year figures on July 21, 2021.

Positive

• Revenue growth expected at approximately 60% in constant currencies.
• Underlying EBITDA margin forecast slightly above 34%.
• Bioprocess Solutions Division revenue expected to grow by around 63%.
• Lab Products & Services Division revenue anticipated to increase by about 52%.
• Full-year sales growth forecast raised to around 45% from previously 35%.

Negative

• Guidance subject to higher uncertainty due to the pandemic.
• Assumes stable supply chains and production lines.

GÖTTINGEN, Germany, July 5, 2021 /PRNewswire/ -- Sartorius announces today that it expects strong first–half performance and raises its forecast for the full year of 2021. For the first six months ended June 30, the company expects revenue growth to be approximately 60% in constant currencies with an underlying EBITDA margin¹ slightly above 34.0%. Revenue of the Bioprocess Solutions Division is anticipated to grow by around 63% with an underlying EBITDA margin¹ of 36.0 to 36.5%, and growth of the Lab Products & Services Division is estimated to be approximately 52% with an underlying EBITDA margin¹ at 26.0 to 26.5%. This better-than-expected performance is broad-based across both divisions and all geographies and is backed by continuously strong order intake, stable supply chains, and expanded production capacities.

Based on the dynamic business development so far and on increasingly robust prospects for the second half, Sartorius is raising its forecast for the full year:  The company now projects consolidated sales growth of around 45% (previously 35%) and an underlying EBITDA margin¹ of about 34% (previously about 32%) for the Group. For the Bioprocess Solutions Division, sales are anticipated to increase by about 50% (previously 40%), and the division's underlying EBITDA margin¹ is projected at about 36% (previously at about 34%). Sales growth for the Lab Products & Services Division is now expected to be 30% (previously 20%) at an underlying EBITDA margin¹ of about 26% (previously about 24%). All figures are given in constant currencies as in the past.

Due to the pandemic, this guidance continues to be subject to higher uncertainty than usual and is particularly based on the assumptions that supply chains will remain stable and production lines will stay up and running. The mid-term targets up to 2025 that were updated in January 2021 are unaffected by these adjustments.

Sartorius will publish the full set of half-year figures for 2021 as scheduled on July 21, 2021, and will hold a conference call on the same day.

1 Sartorius publishes alternative performance measures that are not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry.

• Relevant / underlying EBITDA: earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items

 

This notification according to Article 17 MAR 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 announcement. The Sartorius Group shall not assume any liability for the correctness of this translation. The original German ad hoc announcement is the legally binding version. Furthermore, the Sartorius Group 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.

Contact

Petra Kirchhoff
Head of Corporate Communications and Investor Relations
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com      

https://www.sartorius.com/en

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SOURCE Sartorius AG

FAQ

What is Sartorius' revenue growth forecast for the first half of 2021?

Sartorius expects approximately 60% revenue growth in constant currencies for the first half of 2021.

What are the updated sales growth projections for Sartorius in 2021?

Sartorius has raised its full-year sales growth forecast to around 45%, previously 35%.

What revenue growth is expected for Sartorius' Bioprocess Solutions Division?

The Bioprocess Solutions Division is anticipated to grow by around 63%.

When will Sartorius publish its half-year financial figures?

Sartorius will release its full set of half-year figures on July 21, 2021.