Brief: Sartorius cuts full year guidance and reports H1 results

Sartorius AG

18/07/2024 17:31

July 18 (Reuters) - SARTORIUS STEDIM BIOTECH SA
 STDM.PA :
    * SARTORIUS STEDIM BIOTECH SA: SARTORIUS STEDIM BIOTECH
ADJUSTS
ITS GUIDANCE FOR FISCAL YEAR 2024 AND PRESENTS RESULTS FOR H1
2024
    * SARTORIUS STEDIM BIOTECH SA SAYS IN VIEW OF HIGH
VOLATILITY AND
LIMITED PREDICTABILITY, COMPANY PROVIDES A MORE CAUTIOUS OUTLOOK
FOR SECOND HALF OF YEAR AND ADJUSTS ITS GUIDANCE FOR FISCAL YEAR
2024
    * FIRST HALF OF FISCAL YEAR, COMPANY RECORDED SALES REVENUE
OF
1,373 MILLION EUROS
    * SARTORIUS STEDIM BIOTECH SA SAYS UNDERLYING EBITDA
DECREASED BY
6.8 PERCENT TO 387 MILLION EUROS IN FIRST SIX MONTHS MAINLY DUE
TO VOLUME AND PRODUCT MIX EFFECTS
    * H1 UNDERLYING NET PROFIT1WAS 165 MILLION EUROS, COMPARED
WITH
242 MILLION EUROS IN FIRST HALF OF 2023
    * ORDER INTAKEROSE BY 11.2 PERCENT IN CONSTANT CURRENCIES
(REPORTED: 10.4 PERCENT) TO 1,261 MILLION EUROS IN FIRST SIX
MONTHS
    * H1 REVENUE OF 1,373 MILLION EUROS, WHICH CORRESPONDS TO A
SLIGHT
DECLINE OF 1.2 PERCENT IN CONSTANT CURRENCIES
    * ORDER INTAKE ROSE BY 11.2 PERCENT IN CONSTANT CURRENCIES
(REPORTED: 10.4 PERCENT) TO 1,261 MILLION EUROS IN FIRST SIX
MONTHS
    * NOW PROJECTS AN UNDERLYING EBITDA MARGIN OF 27 TO 29
PERCENT
(PREVIOUSLY: ABOVE 30 PERCENT) FOR FULL YEAR 2024
    * RATIO OF CAPITAL EXPENDITURE IN RELATION TO SALES REVENUE
IS NOW
FORECAST TO BE AROUND 12 PERCENT (PREVIOUSLY: AROUND 13 PERCENT)
IN 2024
    * OUTLOOK 2024: RATIO OF NET DEBT TO UNDERLYING EBITDA
SHOULD BE
APPROXIMATELY 2.5 TO 3.0 (PREVIOUSLY: SLIGHTLY BELOW 2.5)

Source text for Eikon:  ID:nEQYkCkNa 
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