Sartorius 2020 Earnings, Revenue Grew; Raises Long-Term Targets
January 27 2021 - 02:51AM
Dow Jones News
By Cecilia Butini
Sartorius AG said Wednesday that 2020 earnings and revenue rose
and that it has raised its long-term targets for the 2020-25
period.
The German biopharmaceutical company reported net profit of
299.3 million euros ($364 million) for 2020, up from EUR209.4
million for 2019.
Underlying earnings before interest, taxes, depreciation and
amortization came in at EUR692.2 million, compared with EUR495.8
million the previous year, the company said.
Sales revenue grew to EUR2.34 billion for 2020 from EUR1.83
billion the previous year, Sartorius said.
The company updated its targets until 2025, saying that it now
plans to increase its consolidated sales revenue to about EUR5
billion in the period, having previously guided for a target around
EUR4 billion. Sartorius said the change was made given the results
achieved in the Bioprocess Solutions division in 2020 and on
expectations of future organic growth in the segment.
For 2021, the company expects consolidated sales revenue to
increase by about 19% to 25% and initial consolidation of
acquisitions to contribute about 5.5 percentage points to this
growth.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 27, 2021 02:36 ET (07:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Sartorius (TG:SRT)
Historical Stock Chart
From Feb 2024 to Mar 2024
Sartorius (TG:SRT)
Historical Stock Chart
From Mar 2023 to Mar 2024