Q2 2025 Sartorius AG and Sartorius Stedim Biotech SA Earnings Call Transcript
Key Points
- Sartorius Stedim Biotech SA (SDMHF) reported a strong growth in consumables, which remains the most relevant driver for their overall business.
- Group revenue grew by 6% in constant currencies, leading to a significant margin expansion driven by volume, product mix, and economies of scale.
- The underlying EBITDA increased by 12% year-over-year, bringing the underlying EBITDA margin close to 30%.
- Bioprocessing solutions sales revenue grew by nearly 9% year-over-year on a constant currency basis, driven by the growth in consumer business.
- The company launched several new products to enhance the efficiency and productivity of customers' drug development and manufacturing processes.
- The Equipment business remained soft, with continued hesitation around larger capital investments by customers.
- Sales revenue in the Lab Products & Services division declined by 4% in constant currency, reflecting challenges in the non-recurring business.
- The weakening of the US dollar in Q2 generated some headwinds, impacting the H1 performance in reported currency.
- Tariff challenges began in Q2, with potential impacts expected to increase over H2, depending on final tariffs imposed.
- The LPS division continues to face a challenging market situation, with a decline in sales and margin due to the non-recurring business being double-digit down.
Ladies and gentlemen, welcome to the Sartorius and Sartorius Stedim Biotech H1 2025 conference call and live webcast. I'm Matilda, the chorus call operator. (Operator Instructions) And the conference is being recorded. This call is scheduled for 60 minutes. The presentation will be followed by a Q&A session.
(Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Michael Grosse, CEO. Please go ahead.
Thank you, Matilda, and good afternoon, everyone, and thank you for joining today's call on our H1 results of the Sartorius AG as well as Sartorius Stedim Biotech. Today, I'm together with Florian Funck, our CFO, with Rene Faber, our Head of Bioprocessing division and CEO of Sartorius Stedim Biotech; and also Alexandra Gatzemeyer, our Head of the Lab division.
But before I walk you through our financials and the full year outlook of the Sartorius AG, I would like to
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