Sartorius AG

euro adhoc: Sartorius AG
Quarterly or Semiannual Financial Statements
Ad hoc Announcement According to Section 15 of the German Securities Trading Act (WpHG Group sales revenue up 3.4%; currency-adjusted figure up 4.7% / EBITDA slightly below and E

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25.04.2005

In the first quarter of fiscal 2005, Group sales revenue increased by 3.4% (currency adjusted: +4.7%) to EUR111.8 million (previous year: EUR108.1 million). Sales revenue for the Biotechnology Division climbed 7.8% (currency-adjusted: +9.1%) to EUR58.9 million (EUR54.6 million). In the Mechatronics Division, sales revenue slipped 1.2% (currency-adjusted: +0.1%) to EUR52.9 million (EUR53.5 million). At EUR114.6 million, order intake at the Group level was 1.1% higher (currency-adjusted: +4.6%) than the year-earlier figure (EUR113.4 million).

EBITDA fell 5.0% to EUR9.1 million (EUR9.6 million). At the same time, EBIT rose to EUR4.6 million and is thus 10.9% above the previous year’s figure of EUR4.1 million, which can be particularly attributed to the elimination of goodwill amortization. Because of the excellent development of earnings in our filter business, EBIT substantially increased for the Biotechnology Division to EUR3.3 million (EUR1.9 million). By contrast, the Mechatronics Division posted a decrease in earnings to EUR1.3 million (EUR2.2 million) due to currency fluctuations.

Essentially, this development of earnings, which is not yet satisfactory, can be attributed to foreign currency fluctuations that had a negative effect on our gross margin, on the one hand, and affected the valuation of our currency hedging transactions, on the other hand. In addition, increased research and development costs and a slightly altered product mix impacted our earnings.

Net cash flow increased from EUR4.1 million to EUR6.2 million, and was used to reduce gross debt by EUR4.9 million to EUR80.7 million (net debt: EUR73.2 million).

Our full-year targets are to attain an increase in sales revenue on the basis of constant currencies in the mid- to upper percentage range of one digit and to raise EBIT to over 8% of sales revenue. We assume that we will achieve these targets.

end of announcement                                euro adhoc 25.04.2005 21:05:13
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Further inquiry note: Andreas Wiederhold Phone +49.551.308.1668 andreas.wiederhold@sartorius.com

Branche: Biotechnology
ISIN:      DE0007165607
WKN:        716560
Index:    Prime Standard, CDAX, Prime All Share, Technologie All Share
Börsen:  Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Frankfurter Wertpapierbörse / official dealing
              Niedersächsische Börse zu Hannover / official dealing



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