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Sartorius increases profit

Pharma
Sartorius increases profit

In the reporting period, business in both Sartorius Group divisions showed substantially divergent trajectories. The Biotechnology Division, which contributes a good two thirds to consolidated sales, reported dynamic growth and attained a new level in operating profit. By contrast, the Mechatronics Division posted sales and earnings development that was severely impacted by the global downturn. Nevertheless, this division achieved a turnaround during the course of the year and closed 2009 with positive operating earnings. For the Group, operating profit was higher than a year ago, despite the difficult economic climate. Cash flows from operating activities rose by more than two and a half times compared with the year-earlier figure. For 2010, management expects sales revenue and profit to increase in both Divisions.

The Biotechnology Division, which operates under the name of Sartorius Stedim Biotech (SSB), increased its sales revenue in the reporting period by 9.4 % from 366.0 million euros to 400.4 million euros. Order intake also considerably jumped 11.5 % from 367.1 million euros to 409.2 million euros. Again, double-digit growth rates generated by the company’s business with single-use products for the biopharmaceutical industry substantially fueled this growth. In the reporting year, this business gained added momentum from vaccine manufacturers who significantly drove up demand for single-use bags and filters used in the production of the vaccine against the H1N1 virus. This effect contributed around two percentage points to growth. As expected, business with large-scale bioreactor systems, by contrast, slightly declined, but saw positive momentum as of the second half of the year.
Amid a climate of pronounced reluctance to invest shared by nearly all customer sectors, the Mechatronics Division reported a steep decline in demand for its products in the reporting year. This impacted its business with industrial weighing and control equipment slightly more than its business with laboratory instruments. By contrast, service business proved to be robust. Compared with a year ago, the division’s sales revenue dropped 17.9 % from 245.6 million euros to 201.7 million euros. At 205.9 million euros, order intake also was down 15.2 % from 242.7 million euros a year earlier. Following an especially steep plunge in first-half demand, business indicated initial signs of recovery at year-end.
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