euro adhoc: Sartorius AG
Earnings
For 2002, the Sartorius Group Reports Historic Highs in Sales Revenue and Operating Profit (EBITDA) (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
- Sales revenue grew 6.1% to EUR476.5 million - EBITDA rose 7.1% to EUR36.3 million
The Sartorius Group increased its earnings before interest, taxes, depreciation and amortization, EBITDA, in fiscal 2002 to a historic high of EUR36.3 million from EUR33.9 million in 2001. Earnings before interest and taxes, EBIT, which were adjusted for restructuring in the Industrial Mechatronics business area and for the structural buildup of Vivascience, rose 42.3% to EUR24.9 million from EUR17.5 million a year ago. This, too, has been a record high so far. At EUR13.5 million, unadjusted EBIT was just under the year-earlier figure of EUR13.8 million. These figures show that the measures taken during the first half had their full impact. After having posted weak first-half earnings, the Sartorius Group succeeded in substantially boosting second-half earnings.
Despite the overall difficult macroeconomic climate, the Sartorius Group was able to successfully continue its pattern of growth even in 2002. Group sales revenue climbed 6.1% to EUR476.5 million from EUR449.3 million the year before. Adjusted for the impact of exchange rate fluctuations, growth in sales revenue at 8.1% was even higher. The Biotechnology Division supported this positive development in Group sales revenue. This divisions sales revenue grew by 21.1% to EUR254.6 million from EUR210.3 million the previous year, whereas the Mechatronics Division reported a 7.1% decrease, caused by the soft economy, to EUR221.9 million from EUR239.0 million a year earlier. As a result, the Biotechnology Divisions share of sales revenue was higher in 2002 for the first time than that of the Mechatronics Division. This sales development shows how important the Groups proactively implemented structural evolution has been towards focusing on biotechnology. This evolution proved to be the right approach in 2002. Order intake relative to the previous year fell 4.4% to EUR459.6 million from EUR481.0 million a year ago because of two large orders won and included in 2001.
The Executive Board will suggest to the Supervisory Board to pay dividends on the same level as the previous years, and thus continues to uphold its dividend policy based on continuity and consistency. At the meeting scheduled for March 17, 2003, the Supervisory Board will deal with this dividend proposal and with the approval of the financial statements. The figures stated above are still subject to the auditors final review. The final numbers will be made public at the annual press conference on April 29, 2003. The Annual Shareholders Meeting will take place on June 18, 2003, in Goettingen, Germany.
end of announcement euro adhoc 27.02.2003
Further inquiry note:
Thomas Hartwig Chief Financial Officer +49 551 308 3871
Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: SDAX, SMAX
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Hamburger Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / official dealing
Niedersächsische Börse zu Hannover / official dealing