German laboratory and process equipment provider Sartorius AG (SDMHF.PK) Tuesday reported higher profit and sales for the first quarter, as growth momentum for Bioprocess Solutions continued at a high level. The firm confirmed its guidance for sales and earnings growth for the current fiscal year.
Net profit for the group rose 5.1 percent to 14.8 million euros. Earnings per ordinary share were at 0.86 euros, up from 0.82 euros in the previous year.
Underlying EBITDA rose 8.5 percent to 39.3 million euros and margin climbed to 18.4 percent from from 17.4 percent.
Including extraordinary items of negative 1.0 million euros, depreciation and amortization, EBIT increased 17.0 percent to 27.6 million euros. The Group's EBIT margin was 12.9 percent, compared to 11.3 a year ago.
Consolidated sales revenue grew 3.0 percent, or 4.2 percent in constant currencies, to 214.3 million euros from 208.1 million euros a year ago.
Sartorius increased its first-quarter order intake by 9.0 percent, or 10.1 percent in constant currencies, to 239.8 million euros.
Looking ahead, the company still expects that full-year sales will grow 6.0 to 9.0 percent in constant currencies. In addition, the firm aims to achieve an increase in its underlying EBITDA margin, without any currency effects considered, to around 19.5 percent, up from 19.0 percent a year ago.
CEO Dr. Joachim Kreuzburg said, "We expect to reach our full-year targets for the Group; however, the figures contributed by our three divisions may differ from the figures forecasted at the beginning of the year. In view of the uncertainty and volatility that we are observing in some markets, we should have a clearer picture when we do the regular mid-year review of our guidance."
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