Preliminary Results for 2015
€ in millions | 2015 | 2014 | Growth in % | Growth in % const. fx |
Order intake | 946.4 | 722.1 | 31.1 | 21.1 |
Sales revenue | 884.3 | 683.5 | 29.4 | 19.4 |
EMEA1 | 397.2 | 322.1 | 23.3 | 21.2 |
The Americas1 | 323.5 | 219.6 | 47.3 | 24.7 |
Asia | Pacific1 | 163.7 | 141.8 | 15.5 | 7.3 |
EBITDA2 | 231.3 | 160.5 | 44.2 | |
EBITDA margin2 in % | 26.2 | 23.5 | ||
Net profit3 | 139.3 | 87.2 | 59.7 | |
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.
