Annual General Meeting of Sartorius AG: Dynamic market with many growth opportunities

Following double-digit sales revenue growth in fiscal 2022, the life science group Sartorius is confident about its future prospects. “Against the backdrop of strong underlying trends, the biopharma market is developing very dynamically and is expected to grow by an average of around 10 percent per year through 2026. We are very well positioned to take advantage of the many growth opportunities in this industry,” CEO Joachim Kreuzburg said on the occasion of this year’s virtual Annual General Meeting. “Our innovative product portfolio enables our customers to develop drugs faster and manufacture them more efficiently, making them available to and affordable for more people,” he said. “At the same time, our products help reduce water and energy consumption at the customers’ sites”.

Kreuzburg confirmed the company’s sales revenue target for 2025, which was raised by 10 percent to approximately 5.5 billion euros¹ in January due to higher inflation and associated price adjustments. The underlying EBITDA² margin is still expected at around 34 percent in 2025. In 2022, sales revenue was approximately 4.2 billion euros, representing year-over-year growth of 15 percent in constant currencies. The underlying EBITDA margin reached 33.8 percent.

Kreuzburg reiterated that after the exceptionally strong previous years as a result of the pandemic, growth will be lower in 2023 in light of the expected current normalization in demand. For the current year, Sartorius continues to expect sales revenue growth in the low single-digit percentage range, or in the high single-digit range excluding the Covid-19-related business. The underlying EBITDA margin should be around the level of the previous year.

Since demand for biopharmaceuticals will continue to increase in the coming years, Sartorius is making substantial investments in expanding its capacities, according to Kreuzburg. This includes projects in Germany, France, the United States, and South Korea. Accordingly, the ratio of capital expenditures to sales revenue in the current year is expected to remain at a high level of roughly 12.5 percent. “Acquisitions that technologically expand the product portfolio and therefore make our offering even more relevant to customers also remain an integral part of our strategy, as in previous years,” said Kreuzburg.

_{1 All forecasts are based on constant currencies}

_{2 Underlying EBITDA: earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items}

_{This press release contains forward-looking statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language release. Sartorius shall not assume any liability for the correctness of this translation. The original German release is the legally binding version.}

Further information:

Press information: Resolutions of the Annual General Meeting of Sartorius AG