Sartorius Stedim Biotech: Key Figures on 9-Month Business Development in 2017
October 16 2017 - 4:20PM
Business Wire
- Business performance temporary
weaker than expected
- Full-year 2017 guidance adjusted
accordingly
- Mid-term outlook and targets remain
unchanged
Regulatory News:
Sartorius Stedim Biotech (Paris:DIM), a leading supplier for the
biopharmaceutical industry, today pre-announced results for the
first nine months 2017. Based on preliminary figures sales revenue
grew by 3.3% in constant currencies to approximately €806 million
(reported: +2.7%), while its underlying EBITDA1 margin reached
26.8% (9M 2016: 27.3%).
Business performance in the first nine months was influenced by
some concurrent, temporary effects: demand was relatively soft in
some regions, partly as a result of customer inventory destocking.
Moreover, no deliveries were possible from the company’s facility
in Puerto Rico immediately after Hurricane Maria, although
production has now been resumed. In addition, ongoing restrictions
in a partner’s capacity to supply cell culture has affected the
business longer than expected.
Management assumes that these factors will also influence
business development for the full-year of 2017. Therefore,
Sartorius Stedim Biotech now expects that sales revenue in constant
currencies will increase by approximately 4% (previous guidance:
approx. 8% to 12%). The underlying EBITDA1 margin in constant
currencies is now projected to reach approx. the prior-year level
of 27.5% (previous guidance: approx. +0.5 percentage points vs. FY
2016).
Sartorius Stedim Biotech confirms its mid-term targets.
Further information will be published on October 25, 2017.
1 Underlying EBITDA = earnings before interest, taxes,
depreciation and amortization, and adjusted for extraordinary
items
This publication contains statements about the future
development of the Sartorius Stedim Biotech Group. We cannot
guarantee that the content of these statements will actually apply
because these statements are based upon assumptions and estimates
that harbor certain risks and uncertainties.
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version on businesswire.com: http://www.businesswire.com/news/home/20171016006219/en/
Sartorius Stedim BiotechPetra Kirchhoff, +49(0)551.308.1686Vice
President of Group Corporate Communications and
IRpetra.kirchhoff@sartorius.com
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