BERLIN (dpa-AFX) - Sartorius AG (SARTF), a German pharmaceutical and laboratory equipment supplier, on Thursday, in its preliminary report, posted a surge in earnings for the fiscal 2021, mainly due to economies of scale, partially deferred cost development, and rise in sales revenue.
For the fiscal 2021, the Göttingen-headquartered firm posted a profit of 553.4 million euros or 8.08 euros per share, compared with 299.3 million euros or 4.37 euros per share, reported for the year 2020.
Owing to rise in demand and business expansion, EBITDA of the company moved up by 69.7 percent, to 1.175 billion euros.
For the 12-month period, sales revenue of Sartorius also rose by 47.7 percent to 3.44 billion euros, owing to strong organic expansion of the company's businesses in all regions, acquisitions, and Covid-19 pandemic induced demand.
For the fiscal 2022, the Group expects sales revenue to increase by about 14 percent to 18 percent. It also expects its underlying EBITDA margin to reach a figure at the high prior-year level of about 34 percent.
Based on the performance in the last fiscal, the Group now raised its mid-term forecast for profitability. Accordingly, the underlying EBITDA margin is now expected to be around 34 percent in 2025 as against its previous projection of around 32 percent. The consolidated sales revenue target for 2025 has remained unchanged at around 5 billion euros.
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