Sartorius' Q1 2013 adjusted net profit rises by 5.1% Y/Y

Apr 23, 2013 - German laboratory and filtering equipment supplier Sartorius (ETR:SRT) today posted a net profit increase of 5.1% in annual terms to EUR 14.8 million (USD 19.2m) for the first quarter of 2013, adjusted for one-offs.

The figure also excludes non-cash amortisation and valuation of hedging instruments.

The group booked negative one-offs of EUR 1 million, down from EUR 3.2 million a year earlier. Including that, earnings before interest and tax (EBIT) grew by 17% to EUR 27.6 million. The EBIT margin went up to 12.9% from 11.3%.

Revenue improved by 3% to EUR 214.3 million, to which all divisions contributed.

Order intake increased by 9% to EUR 239.8 million. Bioprocess Solutions was the growth driver with a year-on-year jump of 24% resulting from high demand for single-use products for biopharmaceutical manufacture and from positive one-time effects from large equipment orders. In contrast, Lab Products & Services saw a drop of 10.3% and Industrial Weighing -- one of 10%.

Sartorius confirmed its full-year guidance for revenue improvement of 6% to 9% on the year and a margin on earnings before interest, tax, depreciation and amortisation (EBITDA) of some 19.5% after 19% for 2012.

As disclosed on April 15, 2013, effective from the beginning of the current year the company includes amortisation and other taxes in its functional costs, which has no impact on its net result.

(EUR 1.0 = USD 1.3)

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