Q2 2024 Sartorius AG and Sartorius Stedim Biotech SA Earnings Call Transcript
Key Points
- Sartorius AG (SARTF) achieved its H1 targets for sales and underlying EBITDA margin as communicated at the Capital Markets Day.
- Order intake for the Bioprocess Solutions (BPS) division was up 12% in constant currencies, indicating strong demand in this segment.
- The company is seeing significant growth in advanced therapies, which is a promising area for future expansion.
- Sartorius AG (SARTF) is benefiting from its efficiency program, which is expected to contribute more than EUR100 million on a full-year basis.
- The company maintains a robust equity ratio of 38.3%, supported by a capital increase in Q1 2024.
- Overall demand has not gained substantial momentum, with sales for the Lab Products & Services (LPS) division still below the previous year.
- The company is experiencing muted investment appetite from customers regarding equipment, affecting sales growth.
- Sartorius AG (SARTF) has revised its full-year guidance to reflect low recovery momentum and limited predictability.
- The Asian market, particularly China, remains soft, impacting the company's regional performance.
- The underlying EBITDA margin is slightly down due to lower sales and negative effects from mix and lower production outputs.
Welcome everyone, and thank you for dialing in at this little bit unusual time for our call on quarterly results. Obviously, this is because we pulled the publication forward in the context of our decision to de-risk our guidance and therefore ad hoc these news in the format of an ad hoc announcement just a little bit earlier today.
I would like to walk you through the highlights and the most important points for H1 of the Sartorius group, that largely also are relevant for Sartorius Stedim Biotech. I will then hand over to Florian, our CFO, who will walk you through the numbers in more detail.
Thereafter, I will talk a little bit more in detail about the revised guidance for full-year 2024. Then we will hand over to Rene who will talk about Sartorius Stedim Biotech for H1 as well as outlook. So as we also said for Q1, one can clearly say that we still see a very mixed picture regarding market conditions and how this reflects then in our numbers.
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