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Sartorius AG

euro adhoc: Sartorius AG
Quarterly or Semiannual Financial Statements
First-quarter earnings substantially improved over the year-earlier quarter
Group sales revenue slightly above last year’s and, when currency-adjusted, significantly increased /

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
The positive earnings development last reported by the Sartorius
Group continued in the first quarter of 2004.  Earnings before
interest, taxes, depreciation and amortization, EBITDA, rose to
EUR9.6 million from EUR2.6 million reported a year earlier.  At
EUR4.1 million, earnings before interest and taxes, EBIT, was also
considerably higher than the year-earlier figure (-EUR2.9 million;
adjusted, EUR2.1 million), which was negatively impacted by one-time
restructuring expenses of approx. EUR5 million.  Following an approx.
balanced EBIT for the year-earlier quarter, first-quarter EBIT at
EUR1.9 million significantly increased this year for the
Biotechnology Division.  The Mechatronics Division also achieved a
much better EBIT at EUR2.2 million than in the previous year (-EUR2.8
million).
In fiscal 2004, first-quarter sales revenue for the Sartorius Group
rose 1.0% to EUR108.1 million from EUR107.0 million reported for the
year-earlier period. Currency-adjusted consolidated sales revenue
grew 5.4% to EUR112.8 million.  The Biotechnology Division posted
sales revenue growth of 3.5% to EUR54.6 million (year-earlier period:
EUR52.8 million; currency-adjusted, 8.2%).  First-quarter sales
revenue for the Mechatronics Division slid 1.3% to EUR53.5 million
(previous year:  EUR54.2 million; currency-adjusted, +2.7%).
Concerning order intake, the Sartorius Group posted a first-quarter
decline of 1.7% to EUR113.4 million from EUR115.4 million a year
earlier, which was due to the impact of foreign exchange rates
(currency-adjusted order intake:  +4.9%). For the Biotechnology
Division, order intake fell from EUR59.9 million to EUR54.9 million 
(-8.4%).  Order intake for the Mechatronics Division rose 5.5% to
EUR58.6 million (previous year:  EUR55.5 million).
Net cash flow at EUR4.1 million continues to be positive (previous
year:  EUR6.9 million).  In the period ended March 31, 2004, net debt
shrank by EUR2.7 million to EUR102.3 million compared with the period
ended December 31, 2003.
Based on the first-quarter results, the Executive Board continues to
adhere to its sales revenue and earnings targets for the current
fiscal year. The Sartorius Group is striving to increase sales
revenue in the mid- to upper percentage range of one digit. These
targets are based on a considerable stimulation of the economy,
particularly in Western Europe. Concerning Group earnings, the
Executive Board expects a substantial improvement once the
consolidation measures of the previous year have been successfully
implemented. The target is to double EBIT.
end of announcement        euro adhoc 29.04.2004

Further inquiry note:

Andreas Wiederhold

Phone +49.551.308.1668
Fax +49.551.308.3153
andreas.wiederhold@
sartorius.com
www.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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