(Boursier.com) — Sartorius Stedim Biotech fell further by 0.8% to 252 euros in Paris on Friday, while the title fell 13% this week. The supplier of equipment and services for the biopharmaceutical industry has unveiled sharply lower accounts in the first quarter with a current Ebitda down 27.5%, to 220 million euros, for a turnover of 726 million euros, down 18.4% organically at constant exchange rates (-17.2% at constant exchange rates taking acquisitions into account).
As expected, the normalization of demand that began in the third quarter of 2022 continued in the first quarter of 2023 in all regions, while the turnover linked to Covid-19 has almost completely disappeared, the group said. Management nevertheless confirmed its forecast for the current financial year, ie a consolidated turnover up by a low single-digit percentage. The group’s current EBITDA margin should be approximately at the same level as the previous year (35%). Among the latest analysts’ opinions, Credit Suisse cut its target from 320 to 300 euros with a ‘neutral’ opinion.
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