Sartorius Reports Nine-Month Figures
October 28 2008 - 5:16AM
Business Wire
Today on Tuesday, Sartorius (FWB:SRT), a leading international
process and laboratory technology provider, announced its results
of the first nine months for the current fiscal year. From January
through September, the Group earned a sales revenue of
453.4�million euros. This corresponds to a currency-adjusted gain
of 2.8% (current exchange rates: -1.2%). Order intake at a
currency-adjusted 454.0 million euros is slightly above last year�s
level* (+0.9%; current exchange rates: -3.0%). Despite this
restrained growth overall and the unfavorable currency effects,
Sartorius�s profitability continues to remain at a robust level.
Nine-month operating earnings, reported as EBITA (earnings before
interest, taxes and amortization), are at 40.6 million euros
relative to 46.9 million euros a year ago. The corresponding EBITA
margin is 8.9%. * To ensure the best possible comparability, the
figures of the year-earlier period are presented on a pro forma
basis and adjusted for extraordinary expenses and non-permanent
effects (�underlying�). Business Development of the Divisions
Sartorius Stedim Biotech On the basis of constant currencies, sales
revenue for Sartorius Stedim Biotech edged up by 1.0%. In the
reporting currency, the division�s revenue at 273.3 million euros
is 3.0% below the year-earlier figure of 281.8 million euros. The
major reason for this sluggish growth was the soft demand from
individual key accounts in the North American biopharmaceutical
sector, who temporarily manufactured considerably fewer medications
than originally planned because of delayed or restricted drug
approvals. In Europe, by contrast, sales revenue increased, where
the strong first-half development of equipment business
substantially weakened in the third quarter. Business in Asia
evolved at moderate growth rates. Sartorius Stedim Biotech�s order
intake developed sluggishly: For January to September, the
Biotechnology Division posted an order intake of 269.3 million
euros relative to 283.8 million euros a year ago (-1.1%; current
exchange rates: -5.1%). Based on the growth rates achieved,
management assesses that the Biotechnology Division performed well
within the overall difficult market environment. Reported at an
EBITA margin of 10.7%, the profitability of Sartorius Stedim
Biotech continues to remain sound (currency-adjusted around 11.5%;
Q1�Q3 2007: 12.5%). In absolute figures, the operating result
amounts to 29.1 million euros compared with 35.2 million euros last
year. Sartorius Mechatronics Nine-month sales revenue for the
Mechatronics Division continued to develop within the range of the
company�s expectations, rising by a currency-adjusted 5.5% to 180.0
million euros (current exchange rates: +1.7%). Significant growth
impulses came from all across its business areas, especially from
Asia and Europe. For order intake as well, Sartorius Mechatronics
posted a gain of 3.9% (current exchange rates: +0.2%). Its
operating result eased slightly from 11.7 million euros to 11.4
million euros. The corresponding EBITA margin at the end of the
nine-month period is at 6.3% (currency-adjusted around 7%; Q1�Q3
2007: 6.6%). Outlook As the global economic conditions are becoming
increasingly difficult and uncertain, Sartorius does not consider
it possible to make a reliable, quantitative forecast of further
business development for the last quarter of this year.
Nevertheless, the company does anticipate that the overall stable
development, though below forecasts, of the three quarters seen so
far will also continue in the coming months. For this reason, the
company does not expect to completely reach its full-year targets
announced after the first half. Among these targets projected, both
divisions were to post higher sales revenue and earnings in the
second half than in the first half. However, a robust operating
result is projected for the fourth quarter. Dr. Joachim Kreuzburg,
CEO of Sartorius, commented on this outlook as follows: �Even
though 100% reliable business forecasts are not possible to make in
the current turbulent economic situation, we remain confident about
the further development of Sartorius: The attractiveness of our
markets is above-average, we are very well-positioned in these
markets, and our broad-based geographical presence has a balancing
effect and lowers risks.� Conference Call and Webcast Dr. Joachim
Kreuzburg, CEO and Executive Board Chairman of Sartorius, will
discuss the nine-month figures with analysts and investors today,
October 28, at 3:00 p.m. Central European Time (CET), in a
teleconference. You may dial into the teleconference starting at
2:45 p.m. CET at the following numbers: Germany: +49 (0) 69 2222
2220; France: +33 (0) 1 70 99 42 82; UK: +44 (0) 20 7138 0839; USA:
+1 718 354 1362. The dial-in code is: 4944170; to view the webcast,
log onto http://www.sartorius.com or
http://www.livemeeting.com/cc/premconfeurope/join?id=4944170&role=atte
nd&pw=pw4329 Current Image Files: Dr. Joachim Kreuzburg, CEO
and Executive Board Chairman of Sartorius AG:
www.sartorius-stedim.com/media/content/press/support/Dr_Kreuzburg.
jpg Sartorius Stedim Biotech:
http://www.sartorius.com/media/content/press/support/biotechnology
_01.jpg Sartorius Mechatronics:
http://www.sartorius.com/media/content/press/support/Mechatronics_
2_AR_08.jpg (Due to their lengths, some of the above URLs may need
to be copied/pasted into your Internet browser's address field.
Remove any extra space if one exists.) Upcoming Financial Dates:
February 2009 Publication of the preliminary figures for fiscal
2008 March 2009 Annual press conference in Goettingen, Germany
April 23, 2009* Annual Shareholders� Meeting in Goettingen, Germany
April 2009 Publication of quarterly figures from Jan. � March 2009
* tentatively scheduled date This is a translation of the original
German-language press release. Sartorius shall not assume any
liability for the correctness of this translation. The original
German press release is the legally binding version. Furthermore,
Sartorius reserves the right not to be responsible for the
topicality, correctness, completeness or quality of the information
provided. Liability claims regarding damage caused by the use of
any information provided, including any kind of information which
is incomplete or incorrect, will therefore be rejected. A Profile
of Sartorius The Sartorius Group is an internationally leading
laboratory and process technology provider covering the segments of
biotechnology and mechatronics. In 2007, the technology group
earned pro forma sales revenue of 622.7 million euros. Founded in
1870, the Goettingen-based company currently employs approximately
4,500 persons. The major areas of activity in its biotechnology
segment focus on fermentation, filtration, purification, fluid
management and laboratory applications. In the mechatronics
segment, the company primarily manufactures equipment and systems
featuring weighing, measurement and automation technology for
laboratory and industrial applications. Key Sartorius customers are
from the pharmaceutical, chemical and food and beverage industries
and from numerous research and educational institutes of the public
sector. Sartorius has its own production facilities in Europe, Asia
and America as well as sales subsidiaries and local commercial
agencies in more than 110 countries.
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