EANS-Adhoc: Sartorius AG / Preliminary Figures for Fiscal 2009
Geschrieben am 09-02-2010 |
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
09.02.2010
Consolidated operating earnings up 7.2% | Strong operating cash flow | Substantial growth and overproportionate earnings increase in the Biotechnology Division | Slightly positive operating earnings in the Mechatronics Division due to extensive cost-cutting measures | Growth in sales revenue and profit expected for both divisions in 2010
In fiscal 2009, the Sartorius Group received orders valued at 615.1 million euros and thus 0.9% (currency-adjusted: -0.4%) more than in 2008 (609.8 mn. euros). Consolidated sales revenue is at 602.1 million euros, and eased 1.6% (currency-adjusted: -2.7%) from the year-earlier figure (611.6 mn. euros).
For the Biotechnology Division, order volume climbed 11.5% (currency-adjusted: +10.3%) to 409.2 million euros from 367.1 million euros a year ago; sales revenue rose 9.4% (currency-adjusted: +8.3%) to 400.4 million euros from 366.0 million euros in 2008. By contrast, the value of the orders posted by the Mechatronics Division slid 15.2% (currency-adjusted: -16.6 %), because of the global recession, to 205.9 million euros from 242.7 million euros a year earlier; the division´s sales revenue fell 17.9% (currency-adjusted: -19.3%) to 201.7 million euros from 245.6 million euros a year earlier.
Consolidated earnings before interest, taxes and amortization and adjusted for extraordinary expenses (underlying EBITA or operating earnings) rose 7.2% to 60.9 million euros, up from 56.8 million euros a year ago; the respective margin, from 9.3% to 10.1%. The Biotechnology Division contributed 60.2 million euros (previous year 39.7 mn. euros) to these earnings, and posted a significant margin increase from 10.9% to 15.0%. At 0.7 million euros (previous year 17.1 mn. euros), the Mechatronics Division delivered slightly positive earnings as a result of the restructuring measures implemented.
Adjusted for extraordinary expenses and excluding the two non-cash items of amortization and interest, consolidated net profit after minority interest at 20.8 million euros is 14.2% higher than the year-earlier figure of 18.2 million euros; the respective earnings per share rose from 1.07 euros to 1.22 euros. Extraordinary expenses, which essentially comprise provisions for the restructuring program in the Mechatronics Division, total 30.0 million euros. In particular, due to the significant restructuring charges in the Mechatronics Division the unadjusted consolidated net profit after minority interest amounts to -7.3 million euros (12.4 mn. euros).
Operating cash flow surged from 53.0 million euros to 143.4 million euros; the ratio of net debt to underlying EBITDA improved to 2.6 as of December 31, 2009, from 2.7 a year ago.
For 2010, management expects currency-adjusted sales growth for the Biotechnology Division to reach the upper single-digit percentage range and the division´s operating EBITA margin to increase slightly. For the Mechatronics Division, the company assumes that there will be a slight upturn in the economy and, on this basis, anticipates currency-adjusted sales growth in the lower single-digit percentage range. Given the division´s considerably reduced cost base, Mechatronics is forecasted to achieve an operating EBITA margin of around 5%. For the Group as a whole, currency-adjusted sales revenue growth is likely to be slightly above 5% and its operating EBITA margin is expected to further improve by one to two percentage points. Moreover, management anticipates significantly positive operating cash flow.
The numbers given above are subject to final review by the auditors. The final figures will be released at the annual press conference on March 9, 2010.
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will discuss the results with analysts and investors on Wednesday, February 10, 2010, at 4:00 p.m. Central European Time (CET) in a teleconference. You may dial into the teleconference starting at 3:45 p.m. CET at the following numbers: Germany +49 (0)69 2222 2244; France +33 (0)1 70 99 42 74; UK +44 (0)20 7136 2053; USA +1 212 444 0481 The dial-in code is: 8415130.
The webcast and presentation can be viewed at www.sartorius.com.
Goettingen, February 9, 2010 ----------------------- Sartorius AG 37070 Göttingen
Andreas Wiederhold
Phone +49(0)551.308.1668 Fax +49(0)551.308.3153 andreas.wiederhold@ sartorius.com www.sartorius.com
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end of announcement euro adhoc --------------------------------------------------------------------------------
ots Originaltext: Sartorius AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Henriette Meyer
Treasury & Investor Relations
Tel.: +49 (0)551-308-3232
E-Mail: henriette.meyer@sartorius.com
Branche: Biotechnology ISIN: DE0007165607 WKN: 716560 Index: CDAX, Prime All Share, Technology All Share Börsen: Frankfurt / regulated dealing/prime standard Berlin / free trade Hamburg / free trade Stuttgart / free trade Düsseldorf / free trade Hannover / free trade München / free trade
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