(AOF) – Sartorius Stedim Biotech (+ 2.53% to 242.80 euros) confirmed its reduced objectives on June 16. supplier to the biopharmaceutical industry is aiming for a current EBITDA margin of around 30% and a turnover down 9% to 15% after having recorded a 40.4% drop in its current net income in the first half to 241.5 million euros. Recurring EBITDA decreased by 31.5% to €416 million, mainly due to the evolution of volume.
The corresponding margin rose to 29.7% against 35.2% for the same period of the previous financial year.
Revenue amounted to €1.4 billion, an organic decline of 19.6% at constant exchange rates.
“After the extraordinary growth of previous years driven by pandemic-related activities and inventory accumulation by customers, Sartorius Stedim Biotech experienced temporarily weak demand throughout the first half of 2023,” the company commented.
“The situation remained difficult in our markets throughout the first half of the year. The evolution of order intake remained weak for longer than we had initially anticipated, as customers continued to reduce their inventories and invested less due to available production capacities. According to our forecasts, these adverse factors are only temporary and demand should gradually pick up again in the second half of 2023,” said Sartorius Stedim Biotech.
The title Sartorius Stedim Biotech was sanctioned on June 16 after its warning on its 2023 results: it has risen by some 5% for a month, but remains down more than 19% since the start of the year.
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