AUBAGNE, France--(BUSINESS WIRE)--Regulatory News:
Sartorius Stedim Biotech (SSB)(Paris:DIM), a leading partner of the biopharma industry, successfully started off the year 2018.
“In the first quarter, we have seen continued positive business momentum in all regions. On the currency side, we faced considerable headwinds due to the depreciation of the U.S. dollar against the euro, which also affected our profitability. Order intake developed positively, giving us confidence that we are well on track to deliver on our full-year targets,” said CEO Dr. Joachim Kreuzburg.
Business development of the Group
In the first three months of 2018, Sartorius Stedim Biotech increased its sales revenue in constant currencies by 9.8% (reported +4.6%) from 268.8 million euros in the year-earlier period to 281.1 million euros. The acquisition of the software company Umetrics contributed around 1.5 percentage points of inorganic growth. In the reporting period order intake increased by 9.0% in constant currencies (reported +3.9%).
Regionally, Asia|Pacific recorded the strongest growth, driven by solid demand for single-use products. Sales were up by 19.5% to 64.8 million euros. First-quarter sales revenue for the Americas region was 93.8 million euros, up 10.2% from a year ago. In the EMEA1 region, SSB generated sales of 122.5 million euros, 5.0% more than in the comparable year-earlier period (all regional growth in constant currencies).
Compared with a strong prior-year base, underlying EBITDA2 increased 3.0%, and reached 74.0 million euros. Diluted by unfavorable currency effects by approximately 0.5 percentage points, the Group's respective margin was 26.3% relative to 26.7% in the first three months of the previous year. Relevant net profit3 for the Group grew by 7.0% from 44.0 million euros to 47.1 million euros. Earnings per share totaled 0.51 euros (3M 2017: 0.48 euros).
The Group's key financial indicators remained at very robust levels. At the end of the reporting period, the ratio of net debt to underlying EBITDA stood at 0.4, and company's equity ratio was 62.8% (Dec. 31, 2017: 0.4 and 62.6%, resp.). The capex ratio in the first three months of 2018 was 9.2%.
2018 guidance confirmed
In view of positive business development in the first quarter of 2018, management confirms its full-year forecast for 2018: In constant currencies, sales revenue is expected to increase by about 7% to 10%, and the underlying EBITDA margin is anticipated to rise by approx. 0.5 percentage points over the prior-year figure of 27.3%
Because of the latest currency developments, reported figures in actual currencies might differ from constant currency guidance; details will be provided as 2018 progresses.
1 EMEA = Europe | Middle East | Africa
2 Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator
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 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 Tuesday, April 24, 2018, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at:
Alternatively, you can dial into the teleconference, without
+49 (0) 69 566 03 6000
To view the presentation, log onto: www.sartorius-stedim.com
Current Image Files
Dr. Joachim Kreuzburg, CEO and Chairman of the Board
Sartorius products used in the manufacture of medications
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 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 2017, the company employed approx. 5,100 people, and earned sales revenue of €1,081.0 million.
Key Performance Indicators for the first quarter of 2018
€ in millions unless
|Growth in %||
|Asia | Pacific1||64.8||57.3||+13.1||+19.5|
|EBITDA margin2 in %||26.3||26.7||-0.4pp|
|Earnings per share3 in €||0.51||0.48||+7.0|
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