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

Sartorius Group | Conference Call Q1 2021 Results

The Sartorius Group will publish its Q1 2021 results on April 21, 2021, at 7 a.m. CEST. Dr. Joachim Kreuzburg, CEO, and Rainer Lehmann, CFO, will discuss the results with analysts and investors at 3.30 p.m. CEST.

To register for the webcast, please use the following link:
Register Now

Alternatively, you can dial into the teleconference, without registering, at:
+49 (0) 69 566 03 7000

The presentation slides will be accessible through our website that day, 2.30 p.m. CEST, at:
Presentations

Ad Hoc Information

Sartorius raises forecast for the full year of 2021

Göttingen, Germany, March 18, 2021

Ad Hoc Release



Sartorius Group | FY 2020 Results 

  • Results for the full year of 2020: Order intake up 49.0 percent; sales revenue up 30.2 percent; underlying EBITDA margin climbs to 29.6 percent
  • Bioprocess Solutions Division with a sharp rise in sales revenue and earnings and a key role as a provider of essential technologies for vaccine production
  • Significant double-digit growth in the Lab Products & Services Division despite a challenging first half due to the pandemic
  • Number of employees rises by 17.7 percent to more than 10,600
  • Strong outlook for 2021: Sales revenue set to increase by 19 percent to 25 percent
  • Group management raises sales target for 2025 to about 5 billion euros

Annual Report

Financial Statements

Online Annual Report

Press Release

Conference Call Presentation 

Conference Call Audio


Documents

Investors Presentation FY|2020 Results

PDF 4.2 MB

IR Factsheet FY|2020

PDF 126.8 KB

Annual Report 2020

PDF 6.8 MB

Half-Year Report H1|2020

PDF 288.2 KB
About Sartorius
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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.

As early as 2018, management presented its strategy and long-term targets for the period of 2020 to 2025. The targets for 2025 have now been updated and partly raised, given the results achieved in the Bioprocess Solutions Division in 2020 and the resulting increase in the baseline values, as well as expectations of future organic growth in this segment.

Accordingly, Sartorius now plans to increase its consolidated sales revenue to about 5 billion euros in the five-year period up to 2025 (previous target: around 4 billion euros). The company intends to achieve this increase in both divisions primarily through organic growth as well as additionally by acquisitions. The Group’s underlying EBITDA1 margin is forecasted to rise to around 32 percent (former guidance: around 28 percent). For the Bioprocess Solutions Division, the company now projects sales revenue of around 3.8 billion euros (former guidance: approximately 2.8 billion euros), with an underlying EBITDA1 margin of around 34 percent (former guidance: around 30 percent). The outlook for the Lab Products & Services Division remains unchanged, with sales revenue forecasted at around 1.2 billion euros and an underlying EBITDA1 margin at about 25 percent.

These projections are based on the assumption that on average the margins of future acquisitions will initially be somewhat below and, after integration, at a level comparable to those of the Group’s existing businesses, and that there will be no relevant changes in the key currency exchange rates.

Management points out that the dynamics and volatilities in the life science and biopharma sectors have increased over the past years and the coronavirus pandemic has further amplified this trend, so that multi-year forecasts show even higher uncertainties than usual.


1 Sartorius publishes alternative performance measures that are not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry.

  • Order intake: all customer orders contractually concluded and booked during the respective reporting period
  • Relevant / underlying EBITDA: earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items
  • Relevant net profit: profit for the period after non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and the normalized tax rate
  • Ratio of net debt to underlying EBITDA: quotient of net debt and underlying EBITDA over the past 12 months, including the pro forma amount contributed by acquisitions for this period
  • CAPEX ratio: investment payments in relation to sales revenue for the same period

.

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.

Based on very strong order intake during the first 10 weeks of 2021 and high demand expected to continue in the further course of the year, Sartorius has raised its growth forecast for both divisions and, therefore, for the entire Group for fiscal 2021. Against the backdrop of higher sales expectations and significant economies of scale, the company’s earnings outlook has also been raised. Management now projects consolidated sales growth of around 35% (previously 19% to 25%) and an underlying EBITDA margin1 of about 32% (previously about 30.5%) for the Group. The major part of the additional expected business is related to the coronavirus pandemic: products of the Bioprocess Solutions Division are used for manufacturing vaccines, and specific products of the Lab Products & Services Division are needed for coronavirus testing.

For the Bioprocess Solutions Division, sales are anticipated to increase by about 40% (previously 22% to 28%) and the division’s underlying EBITDA margin1 is projected at about 34% (previously at about 33%). Expected sales growth for the Lab Products & Services Division is now about 20% (previously 10% to 16%) at an underlying EBITDA margin1 of about 24% (previously about 23%).

The CAPEX ratio1 for the Group is now projected at about 14% (previously 15%) due to the higher revenue base. Net debt to underlying EBITDA1 is currently expected to be about 2.0 at year-end (previously somewhat below 2.5). Possible acquisitions are not included in these projections.

All figures are given in constant currencies as in the past.

Due to the pandemic, this guidance continues to be subject to higher uncertainty than usual and is particularly based on the assumptions that supply chains will remain stable and production lines will stay up and running. The mid-term targets up to 2025 that were updated in January 2021 are unaffected by these adjustments.


1 Sartorius publishes alternative performance measures that are not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry.

  • Relevant / underlying EBITDA: earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items
  • Ratio of net debt to underlying EBITDA: quotient of net debt and underlying EBITDA over the past 12 months, including the pro forma amount contributed by acquisitions for this period
  • CAPEX ratio: investment payments in relation to sales revenue for the same period

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.

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Full-Year 2020 Results

February 18, 2021

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

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