Sartorius Stedim Biotech Updates Guidance and Shares H1 2024 Results

In a challenging market, Sartorius Stedim Biotech reported a modest decline in sales for H1 2024. Sales revenue decreased by 1.2% in constant currencies, with the company recording €1.373 billion. Order intake, however, showed an 11.2% increase.

Regional performance varied, with EMEA showing growth, while the Americas and Asia/Pacific regions saw declines. Underlying EBITDA dropped by 6.8% to €387 million, with the margin remaining at 28.2%.

Despite achieving first-half targets, the company adjusted its fiscal year 2024 guidance. Sales are expected to remain at prior-year levels, with projections now including potential negative single-digit growth. The underlying EBITDA margin is forecasted to be between 27% and 29%.

Capital expenditures are projected to be around 12% of sales, and the ratio of net debt to underlying EBITDA is expected to be approximately 2.5 to 3.0. Despite short-term volatility, medium-term growth drivers in the life sciences and biopharmaceutical markets remain positive.