AUBAGNE, France & GOETTINGEN, Germany--(BUSINESS WIRE)--Regulatory News:
Sartorius Stedim Biotech (Paris:DIM)
|€ in millions unless otherwise specified||1st half 2016||1st half 2015||Growth in %||Growth in % const. fx|
|Asia | Pacific1||89.3||80.3||11.3||14.8|
|EBITDA margin2 in %||26.8||25.2|
|Earnings per share3 in €||0.91||0.684||32.6|
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, non-cash amortization and based on a normalized financial result and tax rate; 4 Adjusted for stock split
Double-digit top-line growth
Within a continued dynamic market environment, Sartorius Stedim Biotech (SSB), a leading supplier for the biopharma industry, reported a strong first half 2016, with sales revenues up 22.3%. Besides a very dynamic organic performance, the acquired businesses of BioOutsource and Cellca, consolidated since April respectively July 2015, contributed approx. 3 percentage points of non-organic growth. Expansion was driven by high demand across the entire portfolio. Regionally, the Americas led growth, posting a gain of 27.3%, while EMEA and Asia also grew by significant double digits. Order intake exceeded expectations in particular due to some larger equipment orders.
Profits on the rise
Driven by economies of scale, SSB’s earnings increased overproportionately. Underlying EBITDA rose by 28.0% to 136.4 million euros; the corresponding margin reached 26.8%. Underlying earnings per share were 0.91 euro, up year over year from 0.68 euro.
Comfortable financial position
The financial position of SSB has remained strong and stable as reflected by an equity ratio of 59.2% and a ratio of net debt to underlying EBITDA of 0.4. Net debt at the end of the first six months was 108.6 million euros.
Outlook for 2016 raised
Based on the strong first-half business performance, some larger equipment orders and the positive overall business outlook, management has upgraded its forecast for the full year of 2016. Sales revenues are now expected to increase by about 17% to 20% in constant currencies (prev. guidance: about. 12% to 16%). The underlying EBITDA margin is projected to rise about 1.5 percentage points in constant currencies compared with the prior-year figure of 26.2% (prev. guidance: plus about 1 percentage point).
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.
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, July 25, 2016, at 3:30 p.m. Central European Time (CET), in a teleconference. You may dial into the teleconference starting at 3:20 p.m. CET at the following numbers:
Germany: +49(0)69 2222 10641
France: +33(0)1 76 77 22 38
UK: +44(0)20 3427 1934
USA: +1 646 254 3376
The dial-in code is: 5849821
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 2015, the company employed approx. 4,200 people, and earned sales revenue of 884.3 million euros.