Sartorius shares reverse course as tariff compensation impact weighs on FY guidance

Sartorius AG

23/07/2026 11:25

Tweaks headline, updates share move, adds JPM comment
** Shares in Sartorius SATG.DE reverse course and fall nearly 3.9% as tariff-related customer compensation weighed on the German biopharma group's FY outlook

    ** While maintaining its FY sales growth guidance of 5%-9%, the company said tariff compensation is expected to keep group and Bioprocess Solutions sales growth in the lower half of their forecast ranges
** RBC says Q2 reported growth was held back by accounting for U.S. tariff refunds as revenue and cost-of-sales reductions

    ** Sartorius said in its statement that the planned customer compensation for U.S. tariffs could reduce revenue by up to €40 million ($45.65 million) compared to initial assumptions
  

    ** "Excluding the tariff effect, the company guides to the middle of the guidance range in ... the Group (Lab Products upper half). Including the effect, FY numbers are expected to land in the lower half of the range," RBC says  
  

    ** J.P. Morgan said the guidance reiteration was reassuring, but added that around 6% constant exchange rate sales growth for Sartorius Group would leave sales about 1% below Vara consensus
  
** The company's H1 operational sales revenue, excluding tariff compensation to customers, grew 7.7% in constant currencies to €1.81 ($2.07) billion 
** Including today's fall the stock has dropped by 9.7% YTD
     
     
     
($1 = 0.8763 euros)

 (Reporting by Basile Day)
 ((Basile.Day@thomsonreuters.com))