Sartorius Stedim Biotech

Latest Results (17.12.2024):

Sales Revenue Decline

Sartorius Stedim Biotech reported a sales revenue of 2,029 million euros for the first nine months of 2024, marking an organic decline of 3.0 percent in constant currencies. The reported decline was slightly lower at 1.9 percent. This decrease was primarily attributed to a reduction in equipment investments by customers, despite a significant increase in order intake for consumables.

EBITDA and Profit Margins

The company's underlying EBITDA for the first nine months of 2024 stood at 565 million euros, with a resulting margin of 27.8 percent. This represents a decrease from the previous year's margin of 28.7 percent. The net profit for the period was 129 million euros, down from 279 million euros in the same period of 2023.

Regional Performance

Regionally, Sartorius Stedim Biotech experienced varied performance. In the Americas, sales revenue declined by 9.7 percent due to a soft equipment business. However, sales revenue in the EMEA region grew by 5.9 percent, and the Asia Pacific region saw a slight increase of 1.3 percent, despite challenges in the Chinese market.

Financial Position and Investments

As of September 30, 2024, Sartorius Stedim Biotech's equity was 3,939 million euros, with an equity ratio of 49.3 percent. The company significantly increased its net operating cash flow to 530 million euros, up from 410 million euros in the prior-year period. Investments in research and production infrastructure totaled 260 million euros, with a capex to sales revenue ratio of 12.8 percent.

Outlook for 2024

Sartorius Stedim Biotech has confirmed its outlook for the full year 2024, expecting sales revenue to remain at prior-year levels with slight variations. The underlying EBITDA margin is projected to be between 27 to 29 percent. The company anticipates that its ongoing efficiency program will contribute over 85 million euros, while the ratio of net debt to underlying EBITDA is expected to be approximately 2.5 to 3.0.