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)

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