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2016 targets fully achieved; strong outlook for 2017

Sartorius Ltd News and PR from Sartorius Ltd - Published 15 February 2017 Double-digit growth across the entire portfolio and all regions
Sartorius Stedim Biotech (SSB), a leading supplier for the biopharma industry, successfully closed fiscal 2016 with new highs in revenue and earnings. Based on strong demand across the entire portfolio, sales revenue increased by around 20%, thus reaching the upper end of expectations. Acquisitions contributed approx. 2 percentage points of non-organic growth. Regionally, Asia posted the highest growth, partly driven by strong equipment business. Also in the Americas, SSB grew at double-digit rates, continuing to gain market share.
Profits on the rise
Driven by economies of scale, SSB’s underlying EBITDA increased by nearly one fourth to 288.7 million euros. In line with expectations, the corresponding margin rose from 26.2% to 27.5%. Underlying earnings per share were 1.92 euros, up year over year from 1.51 euros.
Comfortable financial position
Reflected by an equity ratio of 63.9% and a ratio of net debt to underlying EBITDA of 0.2, SSB’s financial position has remained very strong. Net debt at the end of the fiscal year 2016 stood at 67.6 million euros.
Strong outlook for 2017
Business expansion is expected to continue throughout 2017. Specifically, management forecasts that sales revenue will increase by about 8% to 12% and the underlying EBITDA margin will rise by approx. 0.5 percentage points over the prior-year figure of 27.5%, both figures given in constant currencies. To support growth, SSB is accelerating the expansion of its major production sites and is planning investments of around 10% to 13% of sales in the current year.
All figures given above are subject to a final audit by statutory auditors.
This press release 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.

Business expansion is expected to continue throughout 2017.

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