- 24.07.2009, 19:01:41
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EANS-Adhoc: Dynamic growth and overproportionate increase in profitability for the Biotechnology Division | Strong cyclical slump in demand and negative results for the Mechatronics Division | Robust consolidated operating earnings | One-time extraordinary expenses for restructuring in the Mechatronics Division | Net debt significantly reduced
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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24.07.2009
Order intake for the Biotechnology Division surged 8.8% (currency-adjusted:
+5.8%) to 203.5 million euros (previous year: 187.1 mn euros) and sales revenue
rose 7.4% (currency-adjusted: +4.3%) to 197.8 million euros from 184.1 mn euros
a year ago. This gain was fueled by business with single-use products at clearly
dou-ble-digit growth rates.
For the Mechatronics Division, order intake in the first six months fell
cyclically from 124.1 million euros to 102.9 million euros (-17.1%;
currency-adjusted: 20.3%). At the same time, sales revenue dropped from 119.9
million euros to 98.7 million euros (-17.7%; currency-adjusted: -20.9%).
On the whole, the Sartorius Group received orders valued at 306.4 million euros
(311.3 mn euros), which equates to a decline of 1.6% (currency-adjusted: -4.6%).
Consolidated sales revenue eased 2.5% (currency-adjusted: -5.6%) and is at 296.5
million euros (304.0 mn euros).
Consolidated earnings before interest, taxes and amortization and adjusted for
one-time extraordinary expenses (underlying EBITA) are at 24.7 million euros
(27.0 mn euros), which corresponds to a margin of 8.3% (8.9%). The Biotechnology
Division contributed to this growth with 28.0 million euros (20.4 mn euros) and
a margin increase from 11.1% to 14.2%. At -3.4 million euros (6.6 mn euros), the
Mechatronics Division delivered negative earnings. One-time extraordinary
expenses essentially entail provisions for the restructuring program currently
being implemented in the Mechatronics Division, and total 16.3 million euros.
Without the two non-cash items of amortization and interest for share price
warrants, consolidated underlying net profit after minority interest is at 6.4
million euros (9.6 mn euros); the corresponding earnings per share are at 0.37
euro (0.56 euro). Actual consolidated net profit after minority interest amounts
to -8.1 million euros (7.3 mn euros). As of June 30, 2009, net debt was reduced
to 181.9 million euros (Dec. 31, 2008: 217.6 mn euros).
For fiscal 2009, our forecast remains unchanged, with the Biotechnology
Division´s revenue expected to grow and its earnings to increase
overproportionately. For the Mechatronics Division, we project a double-digit
decline in revenue and a negative earnings contribution. Given the continued
high uncertainty regarding the global economy, we still consider it not possible
to make a precise full-year forecast.
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will
discuss the first-half figures with analysts and investors on Tuesday, July 28,
2009, at 3:15 p.m. Central European Time (CET), in a teleconference. You may
dial into the teleconference starting at 3:00 p.m. CET at the following numbers:
Germany +49 (0)69 5007 1317; France +33 (0)1 70 99 43 01; UK +44 (0)20 7806
1966; USA +1 718 354 1389
The dial-in code is: 7760640
The webcast and presentation can be viewed at www.sartorius.com.
Further inquiry note:
Andreas Wiederhold
Team Leader Treasury & Investor Relations
Telefon: +49 (0)551 308-1668
E-Mail: [email protected]
end of announcement euro adhoc
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emitter: Sartorius AG
Weender Landstr. 94-108
D-37075 Göttingen
phone: +49 (0)551 308-0
FAX: +49 (0)551 308-3289
mail: [email protected]
WWW: http://www.sartorius.com
sector: Biotechnology
ISIN: DE0007165607, DE0007165631
indexes: CDAX, Prime All Share, Technologie All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English
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