Business Wire

First-Quarter Figures: Sartorius Starts off Fiscal 2018 Successfully

Del

Sartorius, a leading international partner of the biopharmaceutical industry and the research sector, looks back on a successful first quarter 2018.

"Both divisions started off the year strongly in line with our expectations and further increased their revenues in the first quarter of 2018 in all regions. On the currency side, however, we faced some headwinds, especially due to the weakness of the U.S. dollar against the euro, which dampened our profit growth. Order intake developed at an encouragingly strong level for both divisions so we look optimistically to the months ahead and confirm our full-year forecast," said CEO Dr. Joachim Kreuzburg.

Business development of the Sartorius Group

In the first quarter of 2018, Sartorius increased its sales revenue by 11.4% (reported: 6.3%) in constant currencies to 364.9 million euros, with acquisitions contributing around 4.5 percentage points to this growth. Order intake for the same period rose 12.4%.

Regionally, Asia|Pacific recorded the strongest growth, with sales up 18.2% to 89.0 million euros. In the Americas, sales revenue also grew significantly at a rate of 13.8% to 116.6 million euros. In the EMEA2 region, Sartorius generated revenue of 159.3 million euros, 6.3% more than in the comparable year-earlier period. (All growth rates for the regions and order intake in constant currencies.)

Despite unfavorable currency effects, underlying EBITDA increased by 4.7% compared against a strong prior-year base and reached 88.6 million euros. The underlying EBITDA margin was diluted by around 0.5 percentage points due to currency effects and reached 24.3% at the end of the first quarter of 2018 relative to 24.7% for the first three months of 2017. Relevant net profit3 for the Group grew by 8.0% from 34.4 million euros to 37.2 million euros. Earnings per ordinary share totaled 0.54 euros (Q1 2017: 0.50 euros) and earnings per preference share 0.55 euros (Q1 2017: 0.51 euros).

The Group's key financial indicators continued to remain at robust levels. At the end of the reporting period, the company's equity ratio was 35.4%, and its ratio of net debt to underlying EBITDA stood at 2.5 (Dec. 31, 2017: 35.1% and 2.5, resp.). The capex ratio in the first three months of 2018 was 10.3%, as expected, due to the expansion of the Group's worldwide infrastructure.

Business development of the divisions

The Bioprocess Solutions Division, which offers a wide array of innovative technologies for the manufacture of biopharmaceuticals, recorded first-quarter sales growth of 10.0% in constant currencies to 263.4 million euros (reported: +4.9%). Demand for single-use technologies was especially strong in the reporting period. Consolidation of Umetrics acquired in the previous year contributed around 1.5 percentage points of non-organic growth in the first three months of 2018. Order intake rose by 9.1% in constant currencies.

Underlying EBITDA of the Bioprocess Solutions Division rose somewhat underproportionately relative to sales, by 2.9% to 70.3 million euros. Impacted by currency effects, the Group's corresponding margin was 26.7% relative to 27.2% in the previous period.

The Lab Products & Services Division, which offers products and technologies for laboratories primarily in the pharma sector and in life science research, recorded a significant gain in revenue, up 15.3% in constant currencies (reported: +10.3%) to 101.4 million euros. The acquisition of Essen BioScience contributed non-organic growth of around 11 percentage points. In order intake, the division saw strong growth of 22.7% in constant currencies.

Underlying earnings for Lab Products & Services rose 12.6% to 18.3 million euros. Despite negative currency impacts, the division's earnings margin increased from 17.7% to 18.0%, especially driven by volume and product mix effects.

Forecast for the full year confirmed

Based on the company's performance in the first quarter of 2018, management confirmed its sales and earnings forecast for the full year: Group sales revenue is projected to increase by about 9% to 12% and its underlying EBITDA margin by about 0.5 percentage points compared with the year-earlier figure of 25.1%.

For the Bioprocess Solutions Division, management continues to expect that sales will grow about 8% to 11%. This figure includes non-organic growth of approximately 0.5 percentage points contributed to sales. The division's underlying EBITDA margin is projected to increase from 28.0% to around 28.5%.

Based on its unchanged forecast for the Lab Products & Services Division, Sartorius also continues to anticipate that sales will expand approximately 12% to 15%. This projection includes more than 2.5 percentage points of non-organic growth contributed by Essen BioScience consolidated as of the end of March 2017. The division's underlying EBITDA margin is expected to increase by around one percentage point to more than 19.0%.

All forecasts are based on constant currencies. Due to the latest foreign exchange developments, the results reported in actual currencies may differ. We will explain the particular effects during the course of 2018.

1 Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator

2 EMEA = Europe | Middle East | Africa

3 After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and corresponding tax effects.

This press release contains statements about the future development of the Sartorius Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties. 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.

Current image files

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius AG

www.sartorius.com/fileadmin/media/global/company/Sartorius_Kreuzburg.jpg

Sartorius products used in the manufacture of medications

www.sartorius.com/mediafile/corp/Sartorius_0232_PG9_01_RGB.jpg

Sartorius products used in pharmaceutical research

www.sartorius.com/mediafile/corp/Sartorius_0424_PG14.jpg

Conference call

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will discuss the company's results with analysts and investors on Tuesday, April 24, 2018, at 3:30 p.m. Central European Time (CET) in a teleconference. You may register by clicking on the following link:

http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=2821803&linkSecurityString=eeaa4dd9

Alternatively, you can dial into the teleconference, without registering, at:

+49 (0) 69 566 03 6000

To view the presentation, log onto:

http://www.sartorius.com/com/group/investor-relations/sartorius-ag/

Upcoming financial dates

July 24, 2018 Publication of the first-half figures (January to June 2018)

October 23, 2018 Publication of nine-month figures (January to September 2018)

A Profile of Sartorius

The Sartorius Group is a leading international pharmaceutical and laboratory equipment provider with two divisions: Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions with its broad product portfolio focusing on single-use solutions helps customers produce biotech medications and vaccines safely and efficiently. Lab Products & Services, with its premium laboratory instruments, consumables and services, concentrates on serving the needs of laboratories performing research and quality assurance at pharma and biopharma companies and on those of academic research institutes. Founded in 1870, the company earned sales revenue of more than 1.4 billion euros in 2017. More than 7,500 people work at the Group's approximately 50 manufacturing and sales sites, serving customers around the globe.

Key Performance Indicators for the First Quarter of 2018

Sartorius Group Bioprocess Solutions Lab Products & Services
In millions of € (unless otherwise specified) Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1 Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1 Q1
2018
Q1
2017
Δ in % Reported Δ in % cc1
Sales Revenue and Order Intake
Sales revenue 364.9 343.1 6.3 11.4 263.4 251.1 4.9 10.0 101.4 92.0 10.3 15.3
- EMEA2 159.3 151.2 5.3 6.3 111.3 105.6 5.4 6.1 48.0 45.6 5.3 6.9
- Americas2 116.6 111.9 4.2 13.8 90.7 91.2 -0.5 8.8 25.9 20.8 24.9 35.3
- Asia | Pacific2 89.0 80.0 11.3 18.2 61.5 54.4 13.1 19.7 27.5 25.6 7.4 15.0
Order intake 404.8 376.9 7.4 12.4 295.1 283.5 4.1 9.1 109.6 93.4 17.3 22.7
Earnings
EBITDA3 88.6 84.6 4.7   70.3 68.4 2.9   18.3 16.3 12.6  
EBITDA margin3 in % 24.3 24.7     26.7 27.2     18.0 17.7    
Net profit for the period4 37.2 34.4 8.0                  
Financial Data per Share
Earnings per ordinary share4 in € 0.54 0.50 8.1                  
Earnings per preference share4 in € 0.55 0.51 8.0                  

1 In constant currencies abbreviated as "cc"

2 Acc. to the customer's location
3 Underlying
4 After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and corresponding tax effects.

Contact information

Sartorius
Petra Kirchhoff
Vice President of Corporate Communications and IR
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com
www.sartorius.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Moody’s Completes Acquisition of Omega Performance20.8.2018 21:06Pressemelding

Moody’s Corporation (NYSE:MCO) announced today that it has completed its acquisition of Omega Performance, a leading provider of online credit training. Moody’s announced its intention to acquire Omega Performance, a business unit of TwentyEighty Inc, on July 8, 2018. Omega Performance offers a wide range of online credit training courses to clients worldwide and serves more than 300 customers, ranging from large global banks to local lending institutions. The acquisition will enhance Moody’s Analytics as a worldwide market standard in credit proficiency for financial institutions that offer consumer, small business and corporate lending. The acquisition of Omega Performance is not expected to have a material impact on Moody’s 2018 financial results. For further information about Moody’s Analytics eLearning solutions, visit www.moodysanalytics.com/elearning-courses. ABOUT MOODY'S CORPORATION Moody's is an essential component of the global capital markets, providing credit ratings, rese

Pacific Drilling Announces Settlement in Mediation Between Quantum Pacific and Ad Hoc Group of Creditors20.8.2018 14:02Pressemelding

Pacific Drilling S.A. (OTC:PACDQ) (“Pacific Drilling” or the “Company”) today announced that its plan of reorganization filed on July 31, 2018 (the “Plan”), based on a proposal presented to the Company’s Board of Directors by an ad hoc group of its secured creditors (collectively, the “Ad Hoc Group”), now has the full support of the Company’s majority shareholder, Quantum Pacific (Gibraltar) Limited (“QP”). The Plan was already supported by all of the Company’s major creditor interests. With QP’s participation, the Company expects a smooth plan confirmation process and a quick emergence from its Chapter 11 proceedings. Pacific Drilling CEO Paul Reese commented, “The agreement reached by QP and the Ad Hoc Group delivers the final piece needed to make the Company’s Plan a consensual one that has the support of the Company’s major stakeholders. The agreement should allow the Plan to move forward efficiently and expeditiously through the implementation and confirmation process.” Pursuant t

Bella Hadid Headlines True Religion’s Latest Campaign20.8.2018 12:32Pressemelding

True Religion has tapped Bella Hadid to be the face of the brand. The supermodel embodies all things True Religion, past, present and future; iconic, edgy and everlasting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180820005283/en/ Bella Hadid Headlines True Religion’s Latest Campaign (Photo: Business Wire) An inherit fan of the brand, Bella was the natural choice to meld the iconic essence of the brand with the modern view of its future. An all-star team was assembled including photographer Boo George, stylist Mimi Cuttrell, and hair and makeup duo Jen Atkin and Mary Phillips to create imagery and complementary looks that usher True Religion into a new era that honors the heritage of the brand. A quintessential, confident LA girl with roots at home and abroad, Bella’s voice was not only an inspiration, but an integral part in imagining this campaign, envisioning the brand through her eyes for the next generation of True

Veristat Congratulates Alnylam on the FDA Approval of ONPATTRO™ (patisiran)20.8.2018 11:30Pressemelding

Veristat, a full service Clinical Research Organization (CRO), congratulates Alnylam on the recent FDA approval of ONPATTRO™ (patisiran), a lipid complex injection for the treatment of the polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis in adults. “On behalf of the entire Veristat team that has supported Alnylam in the development of this therapy, we are humbled to have contributed towards this first-in-class drug approval for Alnylam, for the patients with hATTR amyloidosis and their families,” said John P. Balser, Ph.D., President and Co-Founder of Veristat. “We are continuing to support Alnylam as they look to expand regulatory approval of this treatment to other regions of the world.” Veristat began working with Alnylam over 11 years ago and helped design the studies and prepare the Investigational New Drug (IND) submission for patisiran. Our collaboration continued throughout the entire patisiran program inclusive of a phase 2 study, a phase 3 pivotal study

FRISS Brings Claim Fraud Analysis to a Next Level With Web-IQ´s Innovative Online Network Solution20.8.2018 11:30Pressemelding

Asking your neighbor or friend to sign as a witness to a claim for car damages at your insurance company will work no more, with the new Claim Fraud Analysis feature of FRISS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180820005039/en/ Eldert van Wijngaarden (Web-IQ) and Philip van Waning (FRISS) shaking hands. (Photo: Business Wire) FRISS, the worldwide provider of AI powered fraud and risk solutions for the P&C insurance industry, recently added a new and innovative feature in their fraud analytics solution: Online Network Analysis from Web-IQ. This feature automatically identifies if the claimants and the insured or other involved persons are related to each other in an on-line environment. This is a proven and strong indicator for fraudulent claims. Especially with car accidents and other types of claims where multiple persons are involved, it adds a whole new approach to the traditional claim analyses. “Research sho

Global IBC Future Zone and IABM Future Trends Theatre to Explore the Latest Tech Shaping the Industry20.8.2018 11:18Pressemelding

IBC2018, the world’s most influential media, entertainment and technology show, today announces the line-up for the IBC Future Zone and IABM Future Trends Theatre. Well established as part of the IBC Exhibition, from 14-18 September, the Future Zone brings together the very latest ideas, innovations and concept technologies from international industry and academia and showcases them in a single specially-curated area sitting alongside exhibition Hall 8. This year, the focus is on showing how new technologies grow from their first inception and progress through to research, development, and validation projects; right through to maturing into the ground-breaking applications and future product standards. Major industry trail-blazers presenting their visions of the future, include Japan’s NHK and BBC R&D from the UK. Both companies will demonstrate a number of technology advances, including: Web-VR applications; object-based media scenarios; pathways to 8K resolution for UHD; and Artifici