Sartorius Stedim Biotech increases its full-year 2020 guidance
Aubagne, France, July 15, 2020 – 6:37 pm
Disclosure of inside information according to Article 17 MAR
Based on strong business performance in the first half of 2020 and on expectations that demand will remain high for the rest of the year, Sartorius Stedim Biotech is raising its growth and earnings forecast for fiscal 2020. Management now projects sales growth of 26% to 30% (previously 17% to 21%) and an underlying EBITDA margin1 of approximately 31% (previously around 30%), with figures given in constant exchange rates as in the past. Upward revision of the forecast is partly related to the current coronavirus pandemic as Sartorius Stedim Biotech products are used for manufacturing both vaccines and antiviral medications.
Due to the ongoing pandemic, this guidance is subject to greater uncertainty than usual. In particular, these updated projections are based on the assumptions that logistics chains will continue to be stable and production lines remain in operation.
In the first half of 2020, the Sartorius Stedim Biotech Group increased its order intake2 according to preliminary figures by 34.1% in constant currencies. Sales revenue in constant currencies rose 22.0% and the company’s underlying EBITDA margin1 surged to 30.2%.
Sartorius Stedim Biotech will publish its complete first-half report on July 21, 2020, as planned. A conference call for investors and analysts will be held on the same day at 3:30 pm CEST.
Sartorius Stedim Biotech 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.
1 Underlying EBITDA: Earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items
2 Order intake: All customer orders that were legally concluded in the respective reporting period
This notification according to Article 17 MAR contains statements about the future development of the Sartorius Stedim Biotech Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties. This is a translation of the original French-language announcement. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French announcement is the legally binding version. Furthermore, Sartorius Stedim Biotech reserves the right not to be responsible for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which is incomplete or incorrect, will therefore be rejected.