Posted Oct 19, 2022 7:59 AM
PARIS (Agefi-Dow Jones)–Pharmaceutical industry supplier Sartorius Stedim Biotech on Wednesday lowered its sales forecast but confirmed its 2022 EBITDA margin target, due to a more difficult environment. by the decrease in demand linked to Covid-19 and global geopolitical uncertainties.
“Revenue growth is now expected to be in the lower half of the previous range of 15% to 19%” in 2022, the group said, although it maintained its forecast for a current EBITDA margin of more than 35% this year.
For the first nine months of the year, Sartorius Stedim Biotech reported sales of 2.6 billion euros, up 23.4% as reported and 17% at constant changes. Over the period, order intake fell by 8.8% to 2.6 billion euros.
“From January to September, Sartorius Stedim Biotech achieved significant growth despite a challenging environment. We achieved double-digit revenue growth and excellent profit margin despite unfavorable cost trends. and currency effects. As expected, this development also reflects the rapid normalization of demand after two years marked by exceptional effects due to the pandemic”, commented Joachim Kreuzburg, CEO of Sartorius Stedim Biotech, quoted in the press release.
Pandemic-related business fell sharply from the same period a year earlier, the group said.
Over the period from January to September, current EBITDA grew less than that of sales, increasing by 19.1% to 912 million euros. The corresponding margin stood at 35%, against 36.3% a year earlier.
The net current result after non-controlling interests of the group increased by 19.2%, to reach 607 million euros, or a net result per share of 6.58 euros, against 5.52 euros a year earlier .
These nine-month results are below analysts’ expectations. The financial intermediaries surveyed by Factset were expecting on average a net current result after non-controlling interests of the group of 683 million euros, a current EBITDA of 927 million euros and a turnover of 2. 63 billion euros.
-Pierre-Jean Lepagnot, Agefi-Dow Jones +33 (0)1 41 27 47 95; [email protected] ed: VLV
-FINANCIAL COMMUNICATIONS OF SARTORIUS STEDIM BIOTECH:
https://ir-reports.sartorius.com/fr/ssb/hy-2016/annual-accounts-sartorius-stedim-biotech-sa-and-notes-appendixes/
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
October 19, 2022 01:47 ET (05:47 GMT)