€ in millions
Unaudited figures
|
March 2012
|
March 2011
|
Growth in %
|
Growth in %,
const. currencies
|
|
Order intake
|
142.0
|
129.0
|
10.0
|
7.9
|
|
Sales revenue
|
133.5
|
110.8
|
20.5
|
18.2
|
|
Europe1)
|
67.3
|
58.4
|
15.1
|
14.9
|
|
North America1)
|
35.3
|
27.1
|
30.0
|
24.6
|
|
Asia | Pacific1)
|
25.9
|
21.0
|
23.1
|
18.7
|
|
Other Markets1)
|
5.0
|
4.2
|
21.0
|
21.0
|
|
EBITA2)
|
23.4
|
17.6
|
32.8
|
|
|
EBITA margin2)
|
17.5%
|
15.9%
|
|
|
|
Net profit3)
|
15.1
|
11.2
|
34.7
|
|
1) According to customers' location
2) Underlying
3) Underlying net profit after non-controlling interest and
excluding amortization and fair value adjustments of
hedging instruments
The Sartorius Stedim Biotech Group uses earnings before
interest, taxes and amortization (EBITA) as the key figure
for measuring the performance and profitability of the
Group. Amortization refers only to any potential
amortization of goodwill and of the intangible assets
measured within the scope of purchase price allocation
according to IFRS 3 "Business Combinations." The
key indicator "underlying EBITA" corresponds to the
EBITA adjusted for non-operating items.
Strong growth in order intake and sales revenue
In the first quarter of 2012, Sartorius Stedim Biotech
(SSB), a leading supplier for the biopharmaceutical
industry, achieved double-digit growth in order intake and
sales revenue. Single-use products, especially filters and
bags, contributed substantially to these results. All
regions reported double-digit sales gains, with North
America posting the highest growth.
Overproportionate increase in profitability
Sartorius Stedim Biotech further increased its strong
profitability. Underlying earnings improved 32.8% from 17.6
million euros to 23.4 million euros. Its respective margin
rose from 15.9% to 17.5% and was driven by strong sales
expansion. Extraordinary expenses amounted to 1.8 million
euros. Underlying earnings per share were at 0.98 euros,
34.7% up from 0.73 euros in the first quarter of 2011.
All key financial indicators at a comfortable level
Reflected by an equity ratio of 55.4%, a gearing ratio of
0.3 and a net-debt-to-underlying-EBITDA ratio of 1.1, the
financial position of the Sartorius Stedim Biotech Group
has continued to remain strong and stable.
Outlook for 2012 confirmed
Based on SSB's first-quarter results, management confirms
its full-year forecast for 2012. Sales revenue is expected
to grow by about 6% to 8% in constant currencies; the
Group´s underlying earnings are projected to rise, likewise
at a rate of approximately 6% to 8%.
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.
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