AUBAGNE, France & GOETTINGEN, Germany--(BUSINESS WIRE)--Regulatory News:
Sartorius Stedim Biotech S.A. (Paris:DIM):
€ in millions
|2015||2014||Growth in %||
|Asia | Pacific1||163.7||141.8||15.5||7.3|
|EBITDA margin2 in %||26.2||23.5|
|Earnings per share in €3||9.06||5.68||59,5|
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
Double-digit topline growth
As a leading supplier for the biopharma industry, Sartorius Stedim Biotech (SSB) successfully closed the year 2015 with gains of 19.4% in sales and 21.1% in order intake. Growth was boosted by vibrant market dynamics, while the company additionally continued to expand its market share. Demand was strong across the entire portfolio and all regions contributed to growth, with the Americas in the lead.
Profits on the rise
Mainly driven by economies of scale SSB continued to increase its earnings overproportionately. Underlying EBITDA soared 44.2% to 231.3 million euros; the corresponding margin reached 26.2%. Underlying earnings per share were 9.06 euros, up year over year from 5.68 euros.
Strong financial performance
The financial position of SSB has strengthened even further as reflected by an equity ratio of 60.7% and a ratio of net debt to underlying EBITDA of 0.4. Net debt at year-end was 86.4 million euros.
Positive outlook for 2016
Based on SSB’s unique strategic positioning and ongoing healthy biopharma market conditions, business expansion is expected to continue throughout the current year. Specifically, management forecasts that sales revenue will increase about 12% to 16% and the underlying EBITDA margin will rise approx. one percentage point; both figures are in constant currencies.
2020 financial targets updated and specified
SSB updated its long-term 2020 targets that had been developed in 2011. In view of the successful execution so far, management anticipates that in 2020 sales revenue will reach about 1.5 to 1.6 billion euros and the underlying EBITDA margin will attain about 29 to 30%; both figures are in constant currencies. This assumes that future acquisitions will not significantly dilute SSB’s profitability level.
All figures given above are subject to a final audit by statutory auditors.
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 and webcast
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, February 1, 2016, at 4:00 p.m. Central European Time (CET), in a teleconference. You may dial into the teleconference starting at 3:50 p.m. CET at the following numbers:
Germany: +49(0)69 2222 10642
France: +33(0)1 76 77 22 34
UK: +44(0)20 3427 1929
USA: +1 646 254 3373
The dial-in code is: 4569484
To view the webcast or 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 a global network of sales companies, Sartorius Stedim Biotech has a global reach. The company employs approx. 4,200 people, and in 2015 earned sales revenue of 884.3 million euros according to preliminary figures.