Sartorius Stedim Biotech presents annual report for 2021

Rhea-AI Summary

Sartorius Stedim Biotech presented its Universal Registration Document 2021 on February 17, 2022, confirming previously disclosed preliminary figures for fiscal 2021. The company forecasts a 15% to 19% increase in Group sales revenue for fiscal 2022, with a 35% EBITDA margin. Key figures from 2021 include €2.89 billion in sales revenue, a 70.9% increase in EBITDA, and an underlying net profit of €687.8 million. The company emphasizes its commitment to innovation and sustainability in the biopharma industry.

Positive

• Sales revenue increased by 51.1% to €2,887.0 million in 2021 from €1,910.1 million in 2020.
• Order intake rose by 53.9% to €3,664.4 million in 2021.
• Underlying EBITDA margin reached 35.8%, up from 31.7% in 2020.
• Underlying net profit increased by 79.2% to €687.8 million in 2021.

Negative

• The anticipated non-organic growth contribution from acquisitions is just 2 percentage points.

AUBAGNE, France, Feb. 17, 2022 /PRNewswire/ -- Sartorius Stedim Biotech, a leading partner of the biopharma industry, today has presented its Universal Registration Document 2021 including the Annual Financial Report. Besides providing detailed information on its business performance, as well as on innovations, acquisitions and sustainability initiatives, the company also confirms its preliminary figures for fiscal 2021, which had already been published on January 27, 2022.

The company's outlook for fiscal 2022, updated on February 8, was also confirmed. Accordingly, Group sales revenue is expected to increase by about 15 percent to 19 percent. This includes an expected non-organic growth contribution from acquisitions of about 2 percentage points. The company's underlying EBITDA margin is forecasted to reach more than 35 percent. All figures for the forecast are based on constant currencies.

 

Key figures for the full year of 2021
In millions of € unless otherwise specified	2021	20201	∆ in % Reported	∆ in % cc2
Order Intake and Sales Revenue
Order intake	3,664.4	2,381.0	53.9	55.6
Sales revenue	2,887.0	1,910.1	51.1	52.6
•  EMEA3	1,199.3	761.0	57.6	57.5
•  Americas3	946.0	670.2	41.2	45.8
•  Asia | Pacific3	741.7	478.9	54.9	54.6
Results
EBITDA4	1,033.4	604.7	70.9
EBITDA margin4 in %	35.8	31.7
Underlying net profit5	687.8	383.8	79.2
Earnings per share5 in €	7.46	4.16	79.2
Net Profit6	414.4	335.9	23.4
Total number of employees	10,409	7,566

^{1 The figures for the reporting period 2020 were restated due to the finalization of the purchase price allocation for the acquisitions of BIA Separations and WaterSep BioSeparations
2 In constant currencies
3 Acc. to the customer's location
4 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items
5 Relevant / underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and normalized tax rate
6 After non-controlling interest}

 

Reconciliation
In millions of €, unless otherwise specified	2021	20201
EBIT (operating result)	865.4	471.7
Extraordinary items	26.5	32.7
Depreciation and amortization	141.5	100.3
Underlying EBITDA	1,033.4	604.7

In millions of €, unless otherwise specified	2021	20201
EBIT (operating result)	865.4	471.7
Extraordinary items	26.5	32.7
Amortization | IFRS 3	48.6	25.7
Normalized financial result2	-11.2	-7.8
Normalized income tax (26%)3	-241.6	-135.8
Underlying net result	687.7	386.5
Non-controlling interest	0.1	-2.7
Underlying net result after non-controlling interest	687.8	383.8
Underlying earnings per share (in €)	7.46	4.16

^{1 The figures for the reporting period 2020 were restated due to the finalization of the purchase price allocation for the acquisitions of BIA Separations and WaterSep BioSeparations
2 Financial result excluding fair value adjustments of hedging instruments and currency effects relating to financing activities and change in valuation of earn-out liability
3 Normalized income tax based on the underlying profit before taxes and non-cash amortization}

 

in millions of € unless otherwise specified	2021	20201
Gross debt	625.5	587.1
-  Cash & cash equivalents	223.6	59.8
Net debt	401.9	527.3
Underlying EBITDA (12 months)	1,033.4	604.7
+ Pro forma EBITDA from acquisitions (12 months)	6.1	15.8
Pro forma underlying EBITDA	1,039.5	620.5
Net debt to underlying EBITDA	0.4	0.8

in millions of € unless otherwise specified	2021	20201
Sales revenue	2,887.0	1,910.1
Capital expenditures	324.0	159.2
Capital expenditures as % of sales revenue	11.2	8.3

^{1 The figures for the reporting period 2020 were restated due to the finalization of the purchase price allocation for the acquisitions of BIA Separations and WaterSep BioSeparations}

^{This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events. Sartorius Stedim Biotech shall not assume any liability for the correctness of this release. The original French press release is the legally binding version.}

Links
Universal Registration Document 2021 including the Annual Financial Report 
Current image files 

Financial calender
March 29, 2022 -  Annual Shareholders' Meeting
April 20, 2022 -  Publication of first-quarter figures (January to March 2022) 
July 21, 2022 -  Publication of the first-half figures (January to June 2022)
October 19, 2022 -  Publication of nine-month figures (January to September 2022)

A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2021, the company employed more than 10,400 people, and earned sales revenue of around 2.89 billion euros.

Follow Sartorius on Twitter @Sartorius_Group and on LinkedIn.

Contact
Petra Kirchhoff                                                                                    
Head of Corporate Communications & Investor Relations
+49 (0)551 308 1686                                                                          
petra.kirchhoff@sartorius.com                                       

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SOURCE Sartorius Stedim Biotech S.A.

FAQ

What were Sartorius Stedim Biotech's sales revenue for 2021?

Sartorius Stedim Biotech's sales revenue for 2021 was €2,887.0 million.

What is Sartorius Stedim Biotech's expected sales revenue growth for 2022?

Sartorius Stedim Biotech expects a sales revenue growth of 15% to 19% for fiscal 2022.

What is the underlying EBITDA margin forecasted for Sartorius Stedim Biotech in 2022?

The underlying EBITDA margin for Sartorius Stedim Biotech is forecasted to exceed 35% in 2022.

How much did 'Sartorius Stedim Biotech' earn in underlying net profit in 2021?

Sartorius Stedim Biotech reported an underlying net profit of €687.8 million in 2021.

When was the Universal Registration Document for 2021 presented?

The Universal Registration Document for 2021 was presented on February 17, 2022.