euro adhoc: Sartorius AG
Quarterly or Semiannual Financial
Statements
Ad hoc Announcement According to Section 15 of the
German Securities Trading Act (WpHG
Group sales revenue up 3.4%; currency-adjusted figure up 4.7% /
EBITDA slightly below and E
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.04.2005
In the first quarter of fiscal 2005, Group sales revenue increased by 3.4% (currency adjusted: +4.7%) to EUR111.8 million (previous year: EUR108.1 million). Sales revenue for the Biotechnology Division climbed 7.8% (currency-adjusted: +9.1%) to EUR58.9 million (EUR54.6 million). In the Mechatronics Division, sales revenue slipped 1.2% (currency-adjusted: +0.1%) to EUR52.9 million (EUR53.5 million). At EUR114.6 million, order intake at the Group level was 1.1% higher (currency-adjusted: +4.6%) than the year-earlier figure (EUR113.4 million).
EBITDA fell 5.0% to EUR9.1 million (EUR9.6 million). At the same time, EBIT rose to EUR4.6 million and is thus 10.9% above the previous years figure of EUR4.1 million, which can be particularly attributed to the elimination of goodwill amortization. Because of the excellent development of earnings in our filter business, EBIT substantially increased for the Biotechnology Division to EUR3.3 million (EUR1.9 million). By contrast, the Mechatronics Division posted a decrease in earnings to EUR1.3 million (EUR2.2 million) due to currency fluctuations.
Essentially, this development of earnings, which is not yet satisfactory, can be attributed to foreign currency fluctuations that had a negative effect on our gross margin, on the one hand, and affected the valuation of our currency hedging transactions, on the other hand. In addition, increased research and development costs and a slightly altered product mix impacted our earnings.
Net cash flow increased from EUR4.1 million to EUR6.2 million, and was used to reduce gross debt by EUR4.9 million to EUR80.7 million (net debt: EUR73.2 million).
Our full-year targets are to attain an increase in sales revenue on the basis of constant currencies in the mid- to upper percentage range of one digit and to raise EBIT to over 8% of sales revenue. We assume that we will achieve these targets.
end of announcement euro adhoc 25.04.2005 21:05:13
Further inquiry note:
Andreas Wiederhold
Phone +49.551.308.1668
andreas.wiederhold@sartorius.com
Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: Prime Standard, CDAX, Prime All Share, Technologie All Share
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing
Niedersächsische Börse zu Hannover / official dealing