Fiscal 2012 a success: Sartorius reaches targets and achieves new highs in sales revenue and earnings – positive outlook for

  Fiscal 2012 a success: Sartorius reaches targets and achieves new highs in
  sales revenue and earnings – positive outlook for 2013

  *Consolidated sales revenue climbs 15.4% to 845.7 million euros
  *Operating profit* soars 20.3% to 135.0 million euros; profit margin up to
    16.0%
  *Company expects significant growth and further increases in earnings for
    2013 as well

Business Wire

GOETTINGEN, Germany -- January 29, 2013

Sartorius (FWB:SRT), a leading international laboratory and pharmaceutical
equipment provider, grew dynamically again in fiscal 2012 and further
increased its profitability. This summarizes the preliminary figures for 2012
that the company released today. According to these results, the Bioprocess
Solutions Division that primarily specializes in single-use products for
pharmaceutical drug manufacture performed highly successfully. In addition,
initial consolidation of the Biohit Liquid Handling business substantially
boosted growth for the Lab Products & Services Division. The company slightly
outperformed its financial targets that it had already raised twice during
2012.

CEO Dr. Joachim Kreuzburg was satisfied with the results of the past fiscal
year: “Our bioprocess business has performed excellently over the last years.
In 2012, we grew again at double-digit rates, more strongly than the market
and also at a slightly faster pace than we ourselves expected. Especially in
the USA, we have gained market share. Our newly realigned Lab Products &
Services Division also showed positive development and is well positioned for
further growth. The Industrial Weighing Division has held its own quite well
in its markets and fully met our expectations in fiscal 2012. Despite high
investments in additional manufacturing capacity, new products and in the
expansion of our sales organization, our considerable growth has enabled us to
increase our bottom-line earnings more strongly than expected at the outset of
the year and to further lift our profit margin.“

Company management projects significant growth in sales revenue and a
continued rise profitability for 2013 as well.

Dynamic growth of sales revenue and order intake

According to preliminary figures, Sartorius generated consolidated sales
revenue of 845.7 million euros in fiscal 2012, up from 733.1 million euros a
year ago. This equates to an increase of 15.4%, or 11.7% in constant
currencies. The Biohit Liquid Handling business acquired at the end of 2011
added approximately six percentage points to this expansion of sales revenue.
The gain in order intake reached a similarly strong level: it jumped 15.7%, or
12.0% in constant currencies, to 866.8 million euros.

Accounting for more than half of consolidated revenue, the Bioprocess
Solutions Division continued on track, extending its success of the previous
year: It reported strong organic sales growth of 15.6%, or 11.8% in constant
currencies, to 474.2 million euros and an increase in order intake of 11.0%,
or 7.3% in constant currencies, to 479.5 million euros. Demand was especially
high for single-use products for biopharmaceutical manufacture, and the
division posted solid growth for its equipment business with biotech
production systems, above all in North America.

The Lab Products & Services Division, a supplier of premium laboratory
instruments and lab consumables, reported a significant gain of 21.1%, or
17.1% based on constant currencies, in sales revenue, which soared to 268.9
million euros. Compared with sales, order intake rose at a slightly sharper
rate, 30.5%, or 26.2% in constant currencies, to 282.0 million euros. Initial
consolidation of the Biohit Liquid Handling business contributed around 19.0
percentage points in constant currencies to this growth.

The smallest Group division, Industrial Weighing, showed stable development,
as projected. Its sales revenue of 102.7 million euros reached the good level
reported for the previous year (+1.8%; currency-adjusted: -0.2%). Its order
intake moved up 3.9%, or 1.9% in constant currencies, to 105.4 million euros.

Regionally, Sartorius reported the highest dynamics in North America, with
sales revenue up 18.9%. The key growth driver in this region was the excellent
performance of both its laboratory and bioprocess businesses. The company’s
business saw double-digit growth, at 13.0%, in Asia as well. In Europe, where
the economic environment was weaker on the whole, Sartorius expanded its
business at 8.6% (all regional figures in constant currencies).

Substantial increase in earnings

Despite the heavy investments made in new production capacity and the
expansion of its sales structures as planned, Sartorius further increased its
profitability in the reporting year. Based on dynamic sales growth, the
Group’s operating earnings surged 20.3% from 112.2 million euros in the
previous year to 135.0 million euros. The respective margin for the Group rose
from 15.3% a year earlier to 16.0% and, therefore, marks a new high. Besides
the expansion of sales volume, the favorable currency environment contributed
to positive development of consolidated earnings.

In view of the divisions, the Bioprocess Solutions Division, in particular,
significantly expanded its operating earnings at a growth rate of 22.9%, from
71.6 million euros a year ago to 88.0 million euros. The operating profit
margin for this division climbed from 17.5% to 18.6%. The Lab Products &
Services Division reported operating earnings of 36.9 million euros, up from
30.7 million euros in the year before. This equates to an increase of 20.1%
and an approximately constant margin of 13.7% (previous year: 13.8%). The
Industrial Weighing Division posted earnings of 10.1 million euros and a
margin of 9.9%, up from 9.9 million euros and 9.8%, respectively, a year
earlier.

Including extraordinary items of -13.9 million euros (previous year: -11.3
million euros), Group EBITA rose year on year from 100.9 million euros to
121.1 million euros and its respective margin increased from 13.8% to 14.3%.
These extraordinary expenses primarily were related to the transfer of
single-use bag manufacture  from California, USA, to Puerto Rico, the
integration of the Biohit Liquid Handling business, and to further Group
projects.

The Group’s relevant net profit totaled 62.9 million euros, up from 52.8
million euros a year ago. Its respective earnings per ordinary share are at
3.68 euros, up from 3.09 euros a year earlier, and per preference share, at
3.70 euros, up from 3.11 euros a year ago.

In 2012, net operating cash flow was at 53.2 million euros (previous year:
79.0 million euros) and was used, inter alia, for financing investments to
substantially expand capacity levels. The key financial indicator, the ratio
of net debt to underlying EBITDA, remained constant at 1.9 (previous year:
1.9) in spite of the high investments made, and thus continues to remain at a
comfortable level.

Positive outlook for fiscal 2013

Sartorius is set to further grow its business in the current year: For 2013,
the company projects that sales revenue on the basis of constant currencies
will increase by approximately 6% to 9%. Along with growth in sales,
profitability is forecasted to rise again. Without any currency effects
considered, the operating EBITA margin at Group level is expected to increase
to about 16.5%.

In view of the three divisions, company management anticipates that sales for
Bioprocess Solutions will grow approximately 9% to 12%. Cooperation in cell
culture media, based on the agreement signed in December 2012 with the Swiss
life science group Lonza, is projected to contribute around three to four
percentage points to this growth. Management forecasts that the division’s
operating EBITA margin will increase to approximately 19%.

For the Lab Products & Services Division, the company expects sales to grow by
approximately 3% to 6% and its operating EBITA margin to increase to around
14%.

The Industrial Weighing Division projects sales revenue to rise by
approximately 0% to 3% and its operating EBITA margin to reach approximately
10%. (All figures currency-adjusted)

“The majority of our business areas are driven by stable and long-term trends;
this is why we have set ambitious targets for the new fiscal year“, commented
Dr. Kreuzburg about the forecast. For part of our business, however, further
economic development will play a role, especially in Europe.”

* Sartorius uses earnings before interest, taxes and amortization (EBITA) as
the key profitability measure. To enable a more meaningful comparison with the
year-earlier figures, the company reports earnings adjusted for extraordinary
items (= operating EBITA or operating earnings) in addition to EBITA.

Key performance indicators for 2012 at a glance

In millions
of euros        Sartorius              Bioprocess Solutions   Lab Products &         Industrial Weighing
(unless        Group                 Division              Services              Division
otherwise                                                     Division
specified)
              2012   2011   in %  2012   2011   in %  2012   2011   in %  2012   2011   In
                                                                                                     %
Order intake   866.8  749.5  15.7  479.5  432.0  11.0  282.0  216.0  30.5  105.4  101.4  3.9
Sales revenue  845.7  733.1  15.4  474.2  410.2  15.6  268.9  222.0  21.1  102.7  100.9  1.8
Operating
earnings
               135.0  112.2  20.3  88.0   71.6   22.9  36.9   30.7   20.1  10.1   9.9    2.6
(underlying
EBITA)^1)
EBITA          16.0%  15.3%       18.6%  17.5%       13.7%  13.8%       9.9%   9.8%   
margin^1)
Extraordinary  13.9   11.3   22.8                                                
expenses
Group net      62.9   52.8   19.1                                                
profit^1)2)
Earnings per
ordinary       3.68   3.09   19.2                                                
share^1)2) in
€
Earnings per
preference     3.70   3.11   19.1                                                
share^1)2) in
€

^1) Adjusted for extraordinary items (underlying)

^2) Relevant consolidated net profit = underlying net profit after
non-controlling interest, excluding non-cash amortization and additional
effects from valuation adjustments of derivative financial instruments

The numbers mentioned above are still subject to final review by the auditors.
The final figures will be announced at the annual press conference on March
11, 2013.

Current Image Files:

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius AG:
www.sartorius.com/fileadmin/media/global/company/joachim_kreuzburg_1.jpg

Sartorius products used in the manufacture of medications:
www.sartorius.com/fileadmin/media/global/company/pr_20120419_bioprocess_solutions.jpg

Sartorius products used in laboratory research:
www.sartorius.com/fileadmin/media/global/company/pr_20120419_lab_products_services.jpg

Conference Call and Webcast:

Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, will
discuss the preliminary figures for 2012 with analysts and investors on
Tuesday, January 29, 2013, at 3:30 p.m. Central European Time (CET), in a
teleconference. You may dial into the teleconference starting at 3:20 p.m. CET
at the following numbers:

Germany: +49 (0)69 2222 34066
France: +33 (0)1 70 48 01 63
UK: +44 (0)20 3450 9571
USA: +1646 254 3387

The dial-in code is 3225124; to view the webcast, log onto: www.sartorius.com

Upcoming Financial Dates:

March 11, 2013 Annual press conference in Goettingen, Germany
April 18, 2013 Annual Shareholders’ Meeting in Goettingen, Germany
April 23, 2013 Publication of first-quarter figures (Jan. – March 2013)

This press release contains statements about the future development of the
Sartorius Group. The content of these statements cannot be guaranteed as they
are based on assumptions and estimates that harbor certain risks and
uncertainties.

This is a translation of the original German-language press release. Sartorius
shall not assume any liability for the correctness of this translation. The
original German press release is the legally binding version. Furthermore,
Sartorius reserves the right not to be responsible for the topicality,
correctness, completeness or quality of the information provided. Liability
claims regarding damage caused by the use of any information provided,
including any kind of information which is incomplete or incorrect, will
therefore be rejected

A Profile of Sartorius

The Sartorius Group is a leading international laboratory and process
technology provider covering the segments of Bioprocess Solutions, Lab
Products & Services and Industrial Weighing. In 2012, the technology group
earned sales revenue of 845.7 million euros according to preliminary figures.
Founded in 1870, the Goettingen-based company currently employs around 5,500
persons. The major areas of activity of its Bioprocess Solutions segment cover
filtration, fluid management, fermentation, cell cultivation and purification,
and focus on production processes in the biopharmaceutical industry. The Lab
Products & Services segment primarily manufactures laboratory instruments and
lab consumables. Industrial Weighing concentrates on weighing, monitoring and
control applications in the manufacturing processes of the food, chemical and
pharma sectors. Sartorius has its own production facilities in Europe, Asia
and America as well as sales subsidiaries and local commercial agencies in
more than 110 countries.

Contact:

Sartorius
Vice President of Group Communications and IR
Petra Kirchhoff, +49 (0)551/ 308-1686
Fax: +49 (0)551/ 308-3572
petra.kirchhoff@sartorius.com
www.sartorius.com
 
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