BERLIN (dpa-AFX) - Sartorius AG (SARTF), a German pharmaceutical and lab equipment company, reported that its net profit attributable to equity holders for fiscal year 2024 dropped to 84.0 million euros or 1.21 euros per ordinary share from last year's 205.6 million euros or 3.00 euros per ordinary share.
Earnings before interest and taxes (EBIT) declined to 392.6 million euros from 504.6 million euros in the prior year, reflecting the higher amortization resulting from the full-year consolidation of Polyplus as well as the increase in extraordinary items. This increase resulted primarily from expenses for efficiency measures, which overlapped with the associated savings in the reporting year, as well as from expenses for various corporate projects or in connection with the latest acquisitions.
Underlying earnings per ordinary share decreased to 4.05 euros from 4.94 euros in the prior year.
Sales revenue for the year was 3.381 billion euros down from 3.396 billion euros last year.
The company noted that the previous year's figures have been revised due to finalization of the purchase price allocation for Polyplus.
The Executive Board and Supervisory Board will propose an unchanged dividend of 0.74 euros per preference share and 0.73 euros per ordinary share at the Annual General Meeting on March 27, 2025.
The company noted that the coronavirus pandemic and its enduring impact over the subsequent years have significantly increased the dynamics and volatilities in the entire life science industry, including for Sartorius. As a result, forecasting business figures has become more uncertain. Consequently, Group management has made qualitative statements about expectations for fiscal 2025. The company will offer a quantitative forecast following the first quarter of 2025.
For fiscal 2025, the company expects a continuous demand recovery and growth in the life science market, albeit at a rate that is still below its long-term average. In this environment, the company intends to grow profitably above market level and to achieve a moderate increase in sales revenue, which is likely to be driven primarily by recurring business with consumables. Due to the varying dynamics in their respective submarkets, the Bioprocess Solutions Division is expected to contribute more strongly to growth than the Lab Products & Services Division.
The company forecasts that underlying EBITDA, should increase over-proportionately compared to sales revenue. In 2025, Sartorius will continue its organic debt reduction course with a focus on working capital and managing investments, and expects the leverage ratio to decrease noticeably.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
