Sartorius Stedim Biotech now expects a current EBITDA margin of around 30% after having forecast a margin similar to that of the previous year (35%). (photo credit: Sartorius AG / )
(AOF) – Biggest drop in the SBF 120, Sartorius Sted Biotech drops 14.82% to 236.90 euros. The biotechnology industry supplier issued a 2023 earnings warning on Friday. Sartorius Stedim Biotech now expects a current EBITDA margin of around 30% after forecasting a margin similar to the previous year. (35%). Management is also targeting a decline in turnover of 10% to 15% against previously an increase of between 0% and 5%.
Acquisitions should contribute around 1 percentage point to revenue growth, excluding the planned acquisition of Polyplus.
The group blamed a “longer-than-expected reduction in inventory among biopharmaceutical customers following the Covid-19 pandemic, as well as relatively weak customer investment activities due to production available”.
The capex to revenue ratio in 2023 is now estimated at around 15% (previously around 12.5%) and the net debt to current EBITDA ratio at around 1.1 (previously around 0.5). ). Potential acquisitions, including the proposed transaction for Polyplus, are not included in this projection
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