Sartorius raises forecast for the full year of 2020
Göttingen, July 15, 2020 – 6:37 pm
- Stronger growth and higher profitability expected for the Bioprocess Solutions Division and the entire Group; outlook for the Lab Products & Services Division unchanged
Based on the strong performance of the Bioprocess Solutions Division in the first half of 2020 as well as on high demand also expected to continue for the rest of the current fiscal year, Sartorius raised its full-year sales and earnings guidance for this division and thus for the entire Group. Management now expects consolidated sales revenue to increase by 22% to 26% (previously 15% to 19%) and the Group’s underlying EBITDA margin1 to reach around 28.5% (previously about 27.5%). Upward revision of this forecast is partly due to the current coronavirus pandemic as Sartorius products are used for manufacturing both vaccines and antiviral medications.
For the Bioprocess Solutions Division, management now forecasts sales growth of 26% to 30% (previously 17% to 21%) and an underlying EBITDA margin1 of approximately 31% (previously around 30%). The outlook for Lab Products & Services remains unchanged, with sales revenue expected to grow by 10% to 14% at an underlying EBITDA margin1 of approximately 20% (all forecasts are based on constant currencies as in the past).
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 Group increased its order intake2 according to preliminary figures by 27.5% in constant currencies. Its sales revenue rose by 17.9% at an underlying EBITDA margin1 of 27.8%.
Sartorius 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.
1 Underlying EBITDA: Earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items
2 Order intake: All customer orders contractually concluded during the respective reporting period
This notification according to Article 17 MAR contains statements about the future development of the Sartorius 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 German-language announcement. The Sartorius Group shall not assume any liability for the correctness of this translation. The original German ad hoc announcement is the legally binding version. Furthermore, the Sartorius Group 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.