PARIS (Agefi-Dow Jones)–Biopharmaceutical industry supplier Sartorius Stedim Biotech on Thursday confirmed its financial targets for 2022, after recording a strong increase in its turnover in the first half, despite a context made more difficult by the decrease in demand linked to Covid-19.
Over the period from January to June, the company’s turnover jumped 27.5% on a reported basis and 22.1% at constant exchange rates, to reach 1.72 billion euros.
In the first half, on the other hand, order intake fell by 3.3% on a reported basis and by 7.3% on a like-for-like basis, to 1.83 billion euros. Following the exceptionally high growth rates recorded in the first half of 2021 due to the Covid-19 pandemic, order intake “continued to normalize”, justified the group in a press release.
Current gross operating surplus (EBITDA) increased by 24.5% in the first half of this year, to 607 million euros, reflecting a margin of 35.2%, down 0.9 percentage points compared to the first half of 2021. “This development was influenced by positive economies of scale, themselves offset by negative currency effects and, as expected, by higher costs following the recruitment of new employees as well as ‘to the increase in business travel,’ the group explained.
The net current half-year profit increased by 26% over one year, to 405.2 million euros.
“Given the solid underlying demand in our sector and the good level of order intake, we confirm our objectives for the full year and our ambitious investment program, despite higher inflation and lower demand linked to the coronavirus”, said Joachim Kreuzburg, the company’s CEO, quoted in the press release.
Sartorius Stedim Biotech still expects consolidated revenue growth of between 15% and 19% in 2022. “Inorganic growth related to acquisitions is expected at 2 percentage points”, added the company, which also maintained its forecast of a current EBITDA margin of more than 35% this year.
“However, faced with the uncertainties due to the current global political and economic context and the resulting tense situation for supply chains, our projections and outlook are also uncertain,” warned Joachim Kreuzburg.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
-FINANCIAL COMMUNICATIONS OF SARTORIUS STEDIM BIOTECH:
https://www.sartorius.com/en/company/newsroom/corporate-news
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July 21, 2022 01:25 ET (05:25 GMT)