(AOF) – Sartorius Stedim Biotech (+6.38% to 198.40 euros) is recovering after publication of its nine-month results. The pharmaceutical industry supplier was harshly sanctioned last Friday after issuing a new warning on its results. It today revealed a 9-month net result of 269.9 million euros, down 60% compared to the same period of 2022, for a turnover of 2.06 billion euros down organic growth of 20.6% at constant exchange rate.
The current Ebidta margin stood at 28.7% compared to 35% in 2022.
This year, it forecasts a drop in turnover of around 19% with a current Ebitda margin “slightly above 28%”.
“The timetable for market normalization has continued to lengthen over the first nine months of the year,” says the CEO of Sartorius Stedim Biotech. “Customers are reducing their inventories at a slower pace than initially expected, while their investment activities and, in part, their production levels remain subdued. Signs of a recovery in demand have become visible and, although “They are growing more slowly than expected, we expect the situation to continue to improve over the final quarter. Given the strong fundamental growth drivers in our markets, we expect profitable growth in 2024 and beyond.” .
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