EANS-Adhoc: Sartorius AG: Figures for the First Quarter of 2011
-------------------------------------------------------------------------------- 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. --------------------------------------------------------------------------------
19.04.2011
Order intake and sales revenue rose by double digits | Profitability increased over-proportionately | Full-year targets for 2011 confirmed
Order intake for the Sartorius Group substantially rose in the first quarter by 15.8% (currency-adjusted: +13.9%) to EUR193.5 million (mn) from EUR167.2 mn a year ago. The Biotechnology Division contributed EUR128.9 mn, up from EUR110.4 mn in the prior-year quarter, and thus increased its order intake by 16.8% (+15.0%). For the Mechatronics Division, order intake rose to EUR64.6 mn from EUR56.8 mn a year earlier, representing a gain of 13.8% (+11.6%). Consolidated sales climbed 14.4% (+12.6%) to EUR172.1 mn from EUR150.4 mn a year ago. At the segment level, revenue for the Biotechnology Division grew 10.6% (+8.9%) year on year to EUR110.7 mn from EUR100.1 mn; the Mechatronics Division increased its sales volume by 22.1% (+19.9%) to EUR61.5 mn from EUR50.4 mn.
Consolidated earnings before interest, taxes and amortization and adjusted for extraordinary items of +EUR0.3 mn (prev. yr. -EUR0.9 mn), or operating earnings, significantly increased overproportionately by 38.8% to EUR22.8 mn from EUR16.4 mn a year earlier; the Group´s respective margin rose to 13.3% from 10.9% a year ago. The Biotechnology Division contributed operating earnings of EUR17.5 mn (prev. yr. EUR14.6 mn) and a margin that improved year over year from 14.6% to 15.8%. The Mechatronics Division boosted its operating earnings from EUR1.8 mn to EUR5.3 mn and its respective margin from 3.7% to 8.6%.
Underlying consolidated net profit after minority interest and excluding non- cash amortization rose to EUR10.9 mn from EUR6.9 mn in the year-earlier quarter; the respective earnings per share were at EUR0.64, up from EUR0.41 a year ago. Unadjusted consolidated net profit after minority interest was EUR10.1 mn, up year on year from EUR5.1 mn.
For fiscal 2011, management confirms its full-year targets: Sales revenue is expected to grow between 6% and 8% in constant currencies for both divisions and, therefore, also at Group level; the Group´s operating earnings margin is projected to increase in constant currencies to around 14% (Biotechnology: around 17%; Mechatronics: around 8%). In addition, management anticipates a significantly positive cash flow.
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will discuss the results with analysts and investors on Thursday, April 21, 2011, at 4:00 p.m. Central European Time (CET) in a webcast teleconference. You may dial into the teleconference starting at 3:45 p.m. CET at the following numbers: Germany: +49 (0)69 5007 1305; France: +33 (0)1 70 99 42 98; UK: +44 (0)20 7806 1951; USA: +1 718 354 1385. The dial-in code is 1154435. The webcast and presentation can be viewed at www.sartorius.com.
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
Henriette Meyer
Treasury & Investor Relations
Tel.: +49 (0)551-308-3232
E-Mail: henriette.meyer@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
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München / free trade