EANS-Adhoc: Sartorius AG
Biotechnology Division grows and achieves
significantly overproportionate profitability | Sharp slump in demand and
negative earnings for the Mechatronics Division | Solid Group operating earnings
| Comprehensive package of ...
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
First-Quarter Figures for 2009
22.04.2009
Consolidated first-quarter sales revenue is at 146.0 million euros (previous year: 149.2 mn euros; -2.1%; currency-adjusted: -4.8%). The Biotechnology Division increased its sales revenue 6.6% (currency-adjusted: +4.1%) from 90.6 million euros to 96.6 million euros. In particular, business with single-use products for the biopharmaceutical industry fueled this gain at clearly double-digit growth rates. As a result of the global recession, sales revenue for the Mechatronics Division fell 15.6% (currency-adjusted: -18.6%) from 58.6 million euros to 49.5 million euros.
Earnings before interest, taxes and amortization (EBITA) for the Group were 10.0 million euros (12.2 mn euros). The Biotechnology Division contributed earnings of 12.6 million euros (9.1 mn euros) and the Mechatronics Division -2.6 million euros (3.1 mn euros) to consolidated EBITA. While the Biotechnology Division´s EBITA margin rose from 10.0% to 13.0% as a result of economies of scale, an enhanced product mix and more favorable exchange rates, the Mechatronics Division contributed negative earnings at an EBITA margin of -5.2% (5.4%). At the Group level, this resulted in a decrease in EBITA margin from 8.2% to 6.9%. Net profit after minority interest excluding the two non-cash items of amortization and interest for share price warrants is at 1.8 million euros (4.2 mn euros), which equates to earnings per share of 0.11 euro (0.25 euro).
In view of the negative earnings of the Mechatronics Division, the Executive Board will be announcing a package of measures for cutting costs by more than 25 million euros on a lasting basis. The goal of these measures is to steer the Mechatronics Division clearly back into the profit zone in 2010. One-time expenses that will be incurred in this context are estimated at about 10-15 million euros.
Our planning for the Biotechnology Division projects sales revenue growth and an overproportionate increase in earnings for 2009. For the Mechatronics Division, we anticipate a double-digit decline in sales revenue and a negative earnings contribution. We still consider it not possible to make a precise full-year forecast.
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will discuss the results with analysts and investors on Thursday, April 23, 2009, at 4:30 p.m. Central European Time (CET) in a teleconference. You may dial into the teleconference starting at 4:15 p.m. CET at the following numbers: Germany: +49 (0)69 2222 2245; France: +33 (0)1 70 99 42 77; U.K.: +44 (0)20 7138 0826; USA: +1 212 444 0481. The dial-in code is 4627574. To view the webcast and presentation, log onto www.sartorius.com.
end of announcement euro adhoc
Further inquiry note:
Andreas Wiederhold
Team Leader Treasury & Investor Relations
Telefon: +49 (0)551 308-1668
E-Mail: andreas.wiederhold@sartorius.com
Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade