EANS-Adhoc: Sartorius AG
Both divisions continue to grow | Group operating
earnings rise around 34% | Growth forecast for 2010 reaffirmed; slightly higher
profit guidance
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.
Figures for the First Nine Months of 2010
22.10.2010
In the first nine months, the order volume for the Sartorius Group rose 11.8% (currency-adjusted: +9.0%) from EUR454.8 million a year ago to EUR508.3 million. Sales revenue increased 8.5% (+5.9%) to EUR482.3 million from EUR444.7 million a year earlier. The Biotechnology Division received orders valued at EUR330.9 million, up 9.1% (+6.4%) from EUR303.4 million a year ago, and increased its sales revenue by 7.0% (+4.6%) from EUR298.0 million to EUR318.8 million. In the Mechatronics Division, order volume jumped considerably by 17.2% (+14.1%) to EUR177.4 million from EUR151.4 million a year earlier and sales revenue climbed 11.4% (+8.5%) to EUR163.6 million from EUR146.8 million in the previous year.
Underlying EBITA consolidated earnings before interest, taxes and amortization and adjusted for extraordinary expenses of EUR3.3 million (prev. year: EUR24.7 million) rose 34.1% to EUR58.9 from EUR43.9 million a year ago. The respective margin increased from 9.9% to 12.2%. The Biotechnology Division contributed an underlying EBITA of EUR50.1 million, up from EUR46.3 million a year earlier, to this result, which means its margin edged up from 15.5% to 15.7%. For the Mechatronics Division, underlying EBITA surged to EUR8.8 million following an operating loss of EUR2.4 million in the previous year. Its respective earnings margin improved from -1.6% to 5.4%.
Excluding non-cash amortization and extraordinary expenses, the relevant net profit after minority interest for the period totals EUR26.4 million (prev. year: EUR13.9 mn); the respective earnings per share are at EUR1.55, up from EUR0.81 a year ago.
For the Group as a whole, we reaffirm our sales forecast for the full fiscal year of 2010 and slightly raise our profit guidance. Relative to the year earlier, we expect sales revenue growth to be slightly above 5% in constant currencies, and our operating EBITA margin to improve by around 2.5 percentage points (earlier guidance: up one to two percentage points). Furthermore, our anticipated target of achieving a significantly positive operating cash flow remains unchanged.
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will discuss the results with analysts and investors on Friday, October 22, 2010, at 2:00 p.m. Central European Time in a webcast teleconference. You may dial into the teleconference starting at 1:45 p.m. CET at the following numbers: Germany +49 (0)69 2222 2245; France +33 (0)1 70 99 42 66; UK +44 (0)20 7138 0825; USA +1 212 444 0481. The dial-in code is as follows: 4240400 The webcast and presentation can be viewed at 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, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade