Sartorius AG

euro adhoc: Sartorius AG
Quarterly or Semiannual Financial Statements
Negative first-quarter earnings due to restructuring expenses
Earnings adjusted for restructuring expenses positive
Net cash flow substantially increased
Cost-cutting measure

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Earnings for the first quarter of 2003 developed moderately in line with the decrease in sales revenue development, which was caused by the weak economic activity and the impact of foreign exchange rate fluctuations (-4.0%; 2.7% when adjusted for the impact of foreign exchange rate fluctuations). Earnings before interest, taxes, depreciation and amortization, EBITDA, fell from 5.7 million euros to 2.6 million euros. Earnings before interest and taxes, EBIT, dropped from -0.3 million euros to -2.9 million euros. However, these figures contain restructuring expenses of approx. 5 million euros associated with the cost-cutting measures designed to sustainably increase profitability. Adjusted for these restructuring expenses, first-quarter Group EBIT at 2.1 million euros and EBITDA at 7.6 million euros are up from the figures posted for the year-earlier quarter. While the Biotechnology Division could report slightly positive earnings at 0.3 million euros (previous year: 0.9 million euros), the Mechatronics Division had to accept a loss of 2.8 million euros (previous year: -0.9 million euros). As anticipated, the Environmental Technology Division contributed -0.4 million euros (previous year: -0.4 million euros) to earnings. Net cash flow could be substantially increased from 2.5 to 6.9 million euros. As a result, net debt could be reduced from that reported on December 31, 2002, as scheduled. The cost-cutting measures initiated will lead to noticeable relief even during the current financial year. For this reason, the Executive Board expects the earnings situation to improve substantially during the course of the year and, for the time being, adheres to its forecast for fiscal 2003. This forecast predicts a growth in sales and earnings. end of announcement euro adhoc 13.05.2003 --------------------------------------------------------------------- Further inquiry note: Rainer Lehmann Tel.: +49 (0) 551 308 4034 E-Mail: Branche: Biotechnology ISIN: DE0007165607 WKN: 716560 Index: SDAX, SMAX Börsen: Niedersächsische Börse zu Hannover / official dealing Frankfurter Wertpapierbörse / official dealing Berliner Wertpapierbörse / free trade Bayerische Börse / free trade Hamburger Wertpapierbörse / free trade Bremer Wertpapierbörse (BWB) / free trade Börse Düsseldorf / free trade Baden-Württembergische Wertpapierbörse / free trade

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