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Sartorius Q1 Profit Up 30.8%; Affirms FY19 Outlook - Quick Facts

Sartorius AG (SDMHF.PK), a German laboratory and pharmaceutical equipment provider, reported a 30.8 percent increase in profit for the first quarter from last year and affirmed its full-year outlook.

The company's net profit for the first quarter of fiscal 2019 grew to 48.6 million euros from 37.2 million euros last year. Earnings per ordinary share rose to 0.71 euros from the prior year's 0.54 euros.

Underlying EBITDA grew 28.7 percent to 114.0 million euros from 88.6 million euros last year. Underlying EBITDA margin rose to 26.2 percent from 24.3 percent a year ago

Sales revenue for the quarter grew 19.4 percent to 435.7 million euros from 364.9 million euros a year ago. Sales at constant currency rates rose 16.8 percent.

Order intake for the Group increased 16.6 percent in constant currencies and also rose 19.3 percent on a reported basis to 442.8 million euros.

Looking ahead, Sartorius confirmed its forecast for the full year of 2019. Consolidated sales revenue for the year is projected to grow by about 7 percent to 11 percent.

This outlook considers the changes to the sales alliance with the Lonza group in the area of cell culture media. Without these changes, sales growth would probably be some 2 percentage points higher, the company noted.

Regarding profitability, the company forecast that its EBITDA margin for the year will increase to slightly more than 27.0 percent over the prior-year figure of 25.9 percent, with the operating gain projected to be about half a percentage point and the remaining increase expected to result from a change in the accounting rules.

All forecasts are based on constant currencies, as in the past years, the company noted.

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