| Key Figures (E million) | ||
|---|---|---|
| First quarter ended 31.3 | ||
| 2020 | 2019 | |
| Order Intake | 629.4 | 482.8 |
| Of Which: | ||
| Bioprocess Solutions | 506.2 | 360.7 |
| Lab Products & Services | 123.3 | 122.1 |
| Sales Revenue | 509.9 | 435.7 |
| Of Which: | ||
| Bioprocess Solutions | 394.3 | 320.7 |
| Lab Products & Services | 115.6 | 115.0 |
| Underlying EBITDA | 137.9 | 114.0 |
| Of Which: | ||
| Bioprocess Solutions | 119.9 | 90.9 |
| Lab Products & Services | 18.0 | 23.2 |
| Net Profit | 57.1 | 48.6 |
Source: Sartorius Q1 2020 results.
COMMENT.
Sartorius has made a good start to fiscal 2020 with growth in first quarter sales, order intake and profitability compared with a year earlier.
Sales revenue reached E509.9 million, up 17.0% on the 2019 figure or 16.5% if adjusted for the impact of currency effects.
The company's main segment, Bioprocess Solutions, posted sales of E394.3 million, an increase of 23.0% or 22.4% when currency adjusted.
The Lab Products & Services division achieved revenues of E115.6 million for the period, an increase of 0.5% on the prior year or 0.1% when adjusted.
Sartorius' order intake followed a similar pattern with the overall figure for the quarter up 30.4% (29.7% adjusted) on the prior year at E629.4 million. For the Bioprocess Solutions segment orders were up 40.3% (39.6% adjusted) at E506.2 million driven by large equipment orders from China and customers seeking to stock up in the context of Covid-19. The Lab Products division registered an increase of 0.9% (0.5% adjusted) to E123.3 million.
The company's underlying EBITDA rose 20.9% on the previous year to reach E137.9 million, while its net profit was up 17.5% at E57.1 million.
“We are very satisfied overall with our first-quarter results and confident about our business progress in the further course of the year,” Sartorius' CEO and executive board chair Dr Joachim Kreuzburg, said. “Though the coronavirus pandemic also poses operating challenges to our company, we have successfully managed these so far.”
With its significant product lines for the healthcare sector, Kreuzberg said Sartorius had been largely unaffected or exempted from lockdown Covid-19 restrictions imposed by governments. Consequently, he said the company's production operations had continued to operate at all of its sites, while its supply chains had also remained mostly intact.