Alle Storys
Folgen
Keine Story von Sartorius AG mehr verpassen.

Sartorius AG

euro adhoc: Sartorius AG
Quarterly or Semiannual Financial Statements
Initial positive effects of our consolidation drive / Second-quarter earnings (EBIT) slightly positive/ First-half net cash flow in 2003 significantly increases
Group sales reven

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In the first half of 2003, sales revenue of the Sartorius Group fell
6.7% to 217.0 million euros from 232.6 million euros a year earlier,
whereas sales revenue adjusted for the impact of foreign exchange
rates at 232.9 million euros reached the previous year’s level.  The
Biotechnology Division posted a 10.8% drop in first-half sales
revenue (adjusted for the impact of foreign exchange rates: -3.7%) to
109.9 million euros from 123.2 million euros a year ago.  First-half
sales revenue for the Mechatronics Division slipped 2.1% (adjusted
for the impact of foreign exchange rates: +4.4%) to 107.1 million
euros from 109.4 million euros the year before.  Order intake levels
for the first half of the financial year 2003 slid from 238.9 million
euros to 219.4 million euros (-8.2%; adjusted for the impact of
foreign exchange rates: -2.0%). Order intake for the Biotechnology
Division dropped by 9.1%; that of the Mechatronics Division, by 7.2%.
Declining sales revenue and restructuring expenses affected
first-half earnings in 2003.  However, at 9.1 million euros,
first-half earnings before interest, taxes, depreciation and
amortization, EBITDA, still remained constant (year earlier: 9.1
million euros). Despite additional special expenses incurred, we
posted positive second-quarter earnings before interest and taxes,
EBIT, at 0.8 million euros (previous year: -3.3 million euros). 
Thus, first-half EBIT is still negative at -2.1 million euros, but is
indeed higher than the previous year’s level of -3.5 million euros.
In the first half of 2003, we were able to significantly increase net
cash flow to 12.3 million euros from -3.5 million euros a year ago,
and to use it to reduce our net debt from 133.1 million euros to
123.2 million euros (as of the reporting date of June 30, 2003,
relative to December 31, 2002).
For the second half of 2003, we expect demand to pick up
significantly, particularly for the Biotechnology Division.  On this
basis, second-half sales revenue should be a good 10% higher than
that of the first half. However, an increase in full-year sales
revenue over the previous year’s will be possible only if adjusted
for the impact of foreign exchange rates.  Against this backdrop, we
continue to adhere to our earnings forecast of increasing EBIT over
last year’s figure.  Over the medium term, the consolidation drive we
have launched will lead to a sustained increase in profitability.
end of announcement        euro adhoc 01.08.2003

Further inquiry note:

Rainer Lehmann
Telefon +49.551.308 4034
rainer.lehmann@sartorius.com

Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
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

Weitere Storys: Sartorius AG
Weitere Storys: Sartorius AG