DGAP-Ad hoc: Sartorius AG St.

Key Figures on 9-Month Business Development in 2017

- Business performance of Bioprocess Solutions Division temporary weaker than expected

- Continued strong development of Lab Products & Services Division

- Full-year 2017 guidance adjusted

- Mid-term outlook and targets remain unchanged

Based on preliminary figures for the first nine months of 2017, the Sartorius Group achieved revenue growth of 8.6% in constant currencies to about 1.04 billion euros (reported: +8.1%) and an underlying EBITDA margin of 24.8% (9M 2016: 25.0%).

The Lab Products & Services Division developed very positively as expected. By contrast, business performance of the Bioprocess Solutions Division was influenced by some concurrent, temporary effects: demand was relatively soft in some regions, partly as a result of customer inventory destocking. Moreover, no deliveries were possible from the company's facility in Puerto Rico immediately after Hurricane Maria, although production has now been resumed. In addition, ongoing restrictions in a partner's capacity to supply cell culture has affected the business longer than expected.

Management assumes that these factors will influence growth dynamics of the Bioprocess Solutions Division as well as the Sartorius Group also for the full-year of 2017. Therefore, the Sartorius Group now expects that sales revenue in constant currencies will increase by approx. 9% (previous guidance: approx. 12% to 16%). Underlying EBITDA margin in constant currencies is now projected to reach approx. the prior-year level of around 25.0% (previous guidance: slightly more than +0.5 percentage points vs. FY 2016).

Sartorius confirms its mid-term targets.

Further information will be published on October 25, 2017.

Goettingen, Germany, October 16, 2017
 

This notification according to Article 17 MAR contains statements about the future development of the Sartorius Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties. This is a translation of the original German-language announcement. Sartorius shall not assume any liability for the correctness of this translation. The original German ad hoc announcement is the legally binding version. Furthermore, Sartorius reserves the right not to be responsible for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which is incomplete or incorrect, will therefore be rejected.
 

Contact
Petra Kirchhoff
Vice President of Group Corporate Communications and IR
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com