Sartorius AG Investor Relations

A Trusted Partner for the Biopharmaceutical Industry and Laboratories

Sartorius is a leading international partner for the biopharma sector. Our solutions are supporting our customers to develop and produce drugs safely, timely and economically. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies.

Seven reasons to invest

  • Clear focus on the attractive biopharma sector
  • Long-term growth drivers and significant market entrance barriers
  • Market leading position in key technologies and recognized brand
  • High share of recurring revenue as well as diversified earnings base
  • Strong presence in growth regions
  • Proven track record with alliances and acquisitions
  • High continuity with respect to customer base, employees and management

Nine-Month Results 2018: Double-Digit Growth Continues

Joachim Kreuzburg, CEO:

“In the first nine months of 2018, Sartorius achieved excellent organic growth. This applies particularly to the Bioprocess Solutions Division, which grew dynamically across all product categories and geographies. For the Lab Products & Services Division, growth in the third quarter was below our expectations due to softer demand in Europe. At the Group level, however, this effect is largely compensated for by the strong development of our bioprocess business so that we confirm our ambitious full-year forecast.”

Nine-Month Results January to September 2018

October 23, 2018

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Strategy and Targets for 2025

Sartorius’ goal is to continue its profitable growth and systematically expand its position as a leading international partner for biopharmaceutical research and the industry. We are pursuing various strategic initiatives to grow sustainably up to 2025 – and beyond.

  • Achieve consolidated sales revenue of around 4 billion euros with about two-thirds of this growth to be generated organically and about one third by acquisitions
  • Increase underlying EBITDA margin1) to around 28%
  • Expand sales in the Bioprocess Solutions Division to about 2.8 billion euros; increase the division’s underlying EBITDA margin to around 30%
  • Grow sales in the Lab Products & Services Division to about 1.2 billion euros; increase the division’s underlying EBITDA margin to around 2

1) Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization; adjusted for extraordinary items) as the key profitability indicator.

We focus in both divisions on the attractive biopharmaceutical market characterized by long‑term and stable growth trends.

Key Growth Drivers

  • Growing world population
  • Increasing incomes and better access to healthcare services in emerging economies
  • Aging population and rise in age-related diseases in industrialized countries

Medical progress is also fueling growth, resulting in the ongoing development and approval of new biopharmaceuticals and in the improvement or expansion of indications for already existing active pharmaceutical ingredients. Therefore, a growing number of biotech medications are being approved for treatment of rare diseases considered incurable until now, and innovative cell and gene therapies are projected to further drive growth in the biopharma sector.

Sartorius has leading market positions in core technologies and is continuously expanding its portfolio by new, complementary technologies that help our biopharma customers develop and manufacture medications faster and more easily. Our strength in selecting suitable partners or acquisition candidates is based upon our in-depth understanding of applications. We are thoroughly familiar with our customers’ requirements and their entire value-added chains, and particularly understand the interactivity of the systems they use. Our innovation strategy is based on three pillars:

  • Integration of innovations through acquisitions
  • Alliances with partners
  • Own product development

North America and selected countries in Asia are at the focus of our growth strategy.

North America is the world’s largest market for both the development and the manufacture of biopharmaceuticals. Because North America is home to the main competitors for both company divisions, Sartorius has historically lower market shares in this region than in Europe and Asia. Accordingly, the company is striving to gain market share, primarily by strengthening its sales and service capacities.

Our second regional focus is on Asia, especially on China, South Korea and India. These markets have tremendous growth potential due to their increased healthcare spending by private households and governments. In these regions, Sartorius has invested in its sales infrastructure and is planning to expand its production capacities.

Moreover, Sartorius is investing in the digitalization of its processes. In addition, it has substantially expanded its production capacities, above all for filter and bag products.

In view of the company’s performance in the first nine months of 2018, management confirms its full-year projections, substantially raised at mid-year, that consolidated sales will grow by about 12% to 15%. The Group’s underlying EBITDA margin1) remains forecasted to increase by about 0.5 percentage points compared with the year-earlier figure of 25.1%.

Based on the dynamic growth recorded for the Bioprocess Solutions Division in the reporting period, management now projects that the division’s sales revenue will increase at the upper range of the previously targeted bandwidth of about 12% to 15%. This figure includes a non-organic growth contribution of slightly less than 0.5 percentage points. The division's underlying EBITDA margin is forecasted to further gain about half a percentage point over the prior-year figure of 28.0%. 

For the Lab Products & Services Division, management reduces growth projections for sales due to softer demand in Europe, to 8% to 10% (previous guidance: about 12% to 15%). Essen BioScience consolidated since March 2017 is forecasted to contribute a good 2.5 percentage points of non-organic growth, as expected so far. The division’s underlying EBITDA margin is projected to further rise; due to the division’s lower sales growth, however, this increase will now be around half a percentage point over the prior-year figure of 18.0% (previous forecast: one percentage point).

All forecasts are based on constant currencies. As a result of changes in the currency exchange rates, reported figures in actual currencies may differ from constant currency guidance.


1) Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization; adjusted for extraordinary items) as the key profitability indicator.

Sartorius is a globally operating company with two separately listed entities: Sartorius AG and Sartorius Stedim Biotech S.A.

Sartorius AG is the parent company of the Sartorius Group. It is headquartered in Göttingen, Germany, and listed on the Frankfurt Stock Exchange with preference and ordinary shares.

Sartorius AG holds approximately 74% of the share capital and around 85% of the voting rights of Sartorius Stedim Biotech S.A. Sartorius Stedim Biotech S.A is headquartered in Aubagne, France, and listed on the Euronext Paris. It is the parent company of the Group’s bioprocessing business.

In addition, Sartorius AG holds a 100% stake in Sartorius Lab Holding GmbH, which is the parent corporation of the subgroup comprising the Group’s lab Business.

Your Investor Relations Contacts

Head of Corporate Communications & Investor Relations
Petra Kirchhoff
Head of Investor Relations

About Sartorius

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Financial Calendar

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Documents

IR Presentation 11|2018

PDF 3.6 MB

Earnings Release 9M|2018

PDF 383.8 KB

IR Factsheet 9M|2018

PDF 462.4 KB

About Sartorius Stedim Biotech

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Downloads

Nine-Month Results January to September 2018

October 23, 2018

Half-Year Report January to June 2018

July 24, 2018

First-Quarter 2018 Results

April 24, 2018

Capital Markets Day 2018

February 21, 2018

Preliminary Full-year Results January to December 2017

January 31, 2018

Nine-month Results January to September 2017

October 25, 2017

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Investor Relations Sartorius Stedim Biotech SA

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