German Sartorius’ net profit grows by 24.5% Y/Y in H1 2012

Jul 25, 2012 - German laboratory and filtering equipment supplier Sartorius (ETR:SRT) today reported an improvement of 24.5% in annual terms in its net profit to EUR 29.5 million (USD 35.8m) for the first half of 2012.

Earnings before interest, tax and amortisation (EBITA) adjusted for one-offs grew by 24.6% to EUR 63.6 million. The adjusted EBITA margin rose to 15.1% from 14.4%.

In the period under review the firm booked a one-time loss of EUR 7.1 million due to the integration of the liquid handling business of Finnish medical devices maker Biohit Oyj (HEL:BIOBV), the preparations for transferring the single-use bag production from the USA to Puerto Rico and because of cross-divisional projects.

Revenue increased by 19.3% to EUR 422.1 million, to which all three divisions contributed. The Biohit transaction from end-2011 added some 6 percentage points to the growth rate.

Order intake rose by 15.3% to EUR 434.2 million.

Sartorius upgraded its full-year forecast. It now expects a revenue hike of 11% and not the 10% seen before. The adjusted EBITA is expected now to improve by 15% and not by 10%. The latter is based on assumptions that currency exchange rates remain favourable.

(EUR 1.0 = USD 1.213)

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