Sartorius confirms preliminary figures for 2020
The life science group Sartorius confirmed its preliminary figures for 2020 upon the release of its annual report. Group sales revenue surged by 30.2 percent to nearly 2,336 million EUR in constant currencies (reported: +27.8 %). Order intake grew even more dynamically than sales revenue and was up 49.0 % in constant currencies to 2,836 million EUR (reported: +46.2 %). Pandemic-related orders accounted for close to 14 % points of growth. Sartorius invested substantially in expanding its capacity in 2020 in order to meet high demand. The ratio of capital expenditures to sales revenue remained in the double digits, at 10.3 %, despite strong sales growth (previous year: 12.3 %).
CEO Kreuzburg: “Performed outstandingly”
“In an extraordinary and very challenging year, Sartorius performed outstandingly. We recorded strong growth and were able to complete several key strategic acquisitions. At the same time, many of our products have been playing an essential role in overcoming the pandemic, in areas ranging from diagnostics, to the development of vaccines and therapeutics, to their production. For the current year and beyond, we expect growth to remain strong. That’s why we are accelerating the ramp-up of our production capacities yet again, primarily at our sites in Germany, Puerto Rico, China, and South Korea. Our mid-range targets significantly raised now set goals of achieving 5 billion euros in sales and creating more than 1,000 new jobs on average per year,“ said Executive Board Chairman and CEO Joachim Kreuzburg.
In 2020, underlying EBITDA also rose very significantly, showing an overproportionate increase in relation to sales revenue, by 39.6 % to 692 million EUR. The respective margin climbed year over year from 27.1 % to 29.6 %. Economies of scale in the Bioprocess Solutions Division primarily played a role in this substantial increase in profitability, yet the underproportionate development of costs in some areas as a result of the pandemic also added to this effect, such as the significant reduction of business travel as well as fewer new hires in non-production areas. The most recent acquisitions had a slightly positive effect on the earnings margin, while currency headwinds had a somewhat dilutive impact. Relevant net profit for the Group rose in relation to sales, by 42.9 % to 299 million EUR. Underlying earnings per ordinary share were 4.37 EUR (previous year: 3.06 EUR) and per preference share, 4.38 EUR (previous year: 3.07 EUR).