Q2 2026 Sartorius AG and Sartorius Stedim Biotech SA Earnings Call Transcript
Key Points
- Sartorius AG (SARTF) reported solid top-line growth with group sales revenues increasing by 7.7% on an operational basis in H1 2026.
- The company improved its profitability, with the underlying EBITDA margin increasing to 30.3%.
- Strong cash flow generation was noted, with free cash flow significantly up by 70% in H1.
- The Bioprocessing Solutions division delivered 8.3% growth on an operational basis, driven by consumables.
- Sartorius AG (SARTF) maintained a strong balance sheet, with the equity ratio increasing to 41.6% at the end of June 2026.
- The equipment business showed only slight growth, around 2%, indicating a slower recovery compared to consumables.
- Tariff-related customer compensations created a temporary headwind to reported sales growth, impacting the overall revenue figures.
- The company faced some volatility in advanced modalities due to delayed orders from two major customers.
- The Americas region experienced a decline in sales on a nominal basis, affected by customer compensations for tariff surcharges.
- The Lab Products and Services division's growth was primarily driven by recurring business, with instruments business showing only slight growth.
Ladies and gentlemen. Welcome to the Sartorius and Sartorius Stedim Biotech conference call and live webcast on H1 2026. I'm Mauritz, your chorus call operator. (Operator Instructions) and the conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Petra Mueller, Head of Investor Relations of Sartorius. Please go ahead.
Thank you, and hello and a warm welcome from my side. So today, I'm joined by our CEO, Michael Gross; by Florian Funck, our CFO; by René Faber, Head of our Bioprocessing Division and CEO of Sartorius Stedim Biotech; and also by Alexandra Gatzemeyer, Head of our Lab Products and Services Division.
As always, we will start with prepared remarks followed by the Q&A session. The call is scheduled to last one hour. As usual, please limit your questions to one so that as many of you as possible can take part. In case we have some time at the end, we are, of
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