Date
6:03 a.m. CET
Sartorius Stedim Biotech S.A.
Financial News
Press Release

Sartorius Stedim Biotech increases its full-year 2021 guidance

Aubagne, France, March 18, 2021 – 6:03 am

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 Stedim Biotech has raised its growth forecast 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 38% (previously 20% to 26%) and an underlying EBITDA margin1 of about 33% (previously at about 32.0%) for the Group. The major part of the expected additional business is related to the coronavirus pandemic as many products of Sartorius Stedim Biotech are used for manufacturing vaccines.

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 around 0.6 at year-end (previously at around 0.75). 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.

Sartorius Stedim Biotech will publish first quarter 2021 figures as scheduled on April 21, 2021.

Aubagne, France, March 18, 2021 – 6:03 am

1 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

- 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



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.