Sartorius AG

euro adhoc: Sartorius AG
Earnings substantially improved over last year’s
Group sales revenue above the previous year’s
Double-digit growth in order intake
Targets for 2004 unchanged
Long-term financing package agreed (E)

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First-half sales revenue of the Sartorius Group rose 2.5% (currency-adjusted:  5.2%) to EUR222.3 million from EUR217.0 million a year ago.  We increased sales revenue for the Biotechnology Division 1.6% (currency-adjusted: 4.6%) to EUR111.7 million from EUR109.9 million.  For the Mechatronics Division, sales revenue grew 3.3% (currency-adjusted: 5.9%) to EUR110.6 million from EUR107.1 million a year earlier.

We raised order intake 10.4% (currency adjusted: 13.9%) to EUR242.3 million from EUR219.4 million a year ago.  For the Biotechnology Division, order intake jumped 12.0%; for the Mechatronics Division, it climbed 8.7%.

The positive earnings trend of the first quarter continued on into the second quarter of 2004.  We boosted first-half EBITDA to EUR22.5 million (previous year: EUR9.1 million) and EBIT to EUR11.6 million (previous year: - EUR2.1 million).  For the Biotechnology Division, we improved EBIT to EUR5.7 million (previous year incl. Environmental Technology:  EUR0.8 million) and for the Mechatronics Division, we increased it to EUR5.9 million (previous year:  - EUR2.9 million).

Net cash flow rose to EUR13.2 million from EUR12.3 million a year ago.  Between the reporting dates of December 31, 2003, and June 30, 2004, we reduced net debt from EUR105.0 million to EUR99.0 million.

We continue to adhere to our sales revenue and earnings targets for fiscal 2004, and are striving to increase sales revenue in the mid- to upper percentage range of one digit and to double EBIT over the last year’s figures.

At the beginning of the third quarter, the Sartorius Group signed an agreement with a bank consortium to introduce a long-term financing package with a transaction volume totaling EUR140 million.  Through this transaction, which consists of a syndicated credit line and an asset-backed securities (ABS) program, a major portion of the currently existing bank liabilities will be refinanced.

end of announcement            euro adhoc 29.07.2004
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Further inquiry note: Andreas Wiederhold Treasury & Investor Relations Tel.: ++49 551 308 1668 andreas.wiederhold@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



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