Sartorius Stedim Biotech FY22 Profit Rises, Orders Down; Sees Growth In FY23; Raises FY25 Sales View

French pharma and laboratory equipment supplier Sartorius Stedim Biotech (SDMHF) reported Thursday that its fiscal 2022 relevant net profit reached 797 million euros, an increase of 15.8 percent from the prior year's 687.8 million euros.

Underlying earnings per share were 8.64 euros, up from prior year's 7.46 euros.

Underlying EBITDA rose 18.2 percent from last year to 1.22 billion euros in 2022, resulting margin at 35.0 percent, down from 35.8 percent last year.

Sales revenue of 3.49 billion euros grew 21 percent from 2.89 billion euros a year ago. Revenue in constant currencies went up 13.2 percent organically.

Order intake fell 9.5 percent on a reported basis and 13 percent at constant currency rates to 3.31 billion euros.

Looking ahead for fiscal 2023, Sartorius Stedim Biotech projects further growth and continued high profitability. Sales revenue growth is expected in the low single-digit percentage range, and excluding Covid-19-related business in the mid to high single-digit range. Underlying EBITDA margin is expected around prior-year level.

For fiscal 2025, while basic assessment of mid-term market trends has not changed, the company has raised sales revenue forecast to around 4.4 billion euros to reflect changes in price levels caused by inflation.

The company confirmed profitability target of an EBITDA margin of more than 35 percent.

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