Q1 2025 Sartorius AG and Sartorius Stedim Biotech SA Earnings Call Transcript
Key Points
- Sartorius Stedim Biotech SA (SDMHF) reported a strong start to 2025 with a 10% increase in sales revenue for Bioprocess Solutions, driven by double-digit growth in consumables.
- The company achieved a sales revenue growth of 6.5% in constant currencies, with a book-to-bill ratio above 1, indicating healthy demand.
- Underlying EBITDA grew by 12.2% to EUR 263 million, with a margin increase of 120 basis points to 29.8%, driven by positive volume and product mix effects.
- The acquisition of MatTek aligns with Sartorius Stedim Biotech SA (SDMHF)'s innovation strategy, enhancing its portfolio with advanced cell models and AI analytics.
- Strong cash flow allowed the company to reduce its leverage ratio as planned, indicating improved financial health.
- The equipment business remains muted, particularly affecting the Lab Products & Services division, due to customer reluctance to make larger investments.
- Sales in the Lab Products & Services division declined by 5.5% in constant currencies, reflecting challenges in the non-recurring and CapEx-driven business.
- The company faces potential impacts from tariffs, although it does not expect these to affect its competitive positioning.
- China's business performance was slightly below the previous year, indicating regional challenges.
- The guidance for 2025 includes a cautious outlook with a sales revenue growth expectation of approximately 6%, reflecting ongoing market volatilities.
Ladies and gentlemen, welcome to the Sartorius and Sartorius Stedim Biotech conference call on the first quarter 2025. (Operator Instructions)
At this time, it's my pleasure to hand over to Dr. Joachim Kreuzburg. Please go ahead, sir.
Thank you very much for the introduction. And hello and welcome to our conference call on the Q1 results of Sartorius AG, as well as Sartorius Stedim Biotech. Today, I'm together with Florian Funck, our CFO; as well as with René Fáber, the President of our Bioprocessing division, as well as the CEO of Sartorius Stedim Biotech; and also Alexandra Gatzemeyer, the President of our Lab division, as she will walk you through the slide on the most recently announced acquisition of MatTek.
So let me start with walking you through the highlights of the first quarter of 2025. We think we are off to a good start -- a very good start into the year 2025. Pretty much development has been as expected.
That means very much
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