The laboratory and pharmaceutical supplier’s net profit reached 334 million euros.
(Photo: dpa)
Dusseldorf The pharmaceutical supplier and laboratory outfitter Sartorius continues to grow dynamically and was able to increase sales and earnings by double digits in the first half of the year – even if the corona-related demand for the company’s products has fallen. The group, which has been listed in the Dax since September last year, is sticking to its goals for the year as a whole, as the company announced on Thursday morning.
Due to good business with the pharmaceutical industry and in the laboratory division, sales from January to June increased by 21 percent to around 2.06 billion euros after adjusting for exchange rate effects. The operating result (Ebitda) increased by around 26 percent to 697 million euros. At 33.9 percent, the margin was slightly below the level of the same period of the previous year. The relevant net profit rose by 29 percent to 334 million euros.
However, incoming orders in the first half of the year, at EUR 2.2 billion, were around 4.8 percent below the same period of the previous year, when the company benefited from exceptionally high demand in connection with the coronavirus pandemic and many customers ordered earlier.
Despite the increased inflation and declining corona-related demand, CEO Joachim Kreuzburg confirmed the annual forecast. Group sales are expected to increase by between 15 and 19 percent. On the earnings side, Sartorius continues to anticipate an operating Ebitda margin of around 34 percent. Nevertheless, the forecast uncertainties remain in view of global and economic uncertainties and tight supply chains, said Kreuzburg.
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At Sartorius, business with the pharmaceutical industry, which is combined in the Bioprocess Solutions Division, accounts for the majority of sales. Adjusted for exchange rate effects, the division grew by 23.6 percent to 1.6 billion euros, the margin of 35.8 percent did not quite reach the previous year’s level. According to the group, business with vaccine manufacturers has normalized faster than expected.
Growth of eleven percent in the field of pharmaceutical laboratories
With technologies for pharmaceutical laboratories, Sartorius generated sales totaling EUR 423 million in the Lab Products & Services Division in the first half of the year, which corresponds to an increase of around eleven percent. The operating margin increased from 26.2 to 26.4 percent.
Sartorius hired almost 2,000 new employees compared to the end of 2021 and now employs almost 16,000 people worldwide.
More: Dax newcomer Sartorius is benefiting from the biopharmaceutical boom – and has the power to make acquisitions