Sartorius Stedim (SSB) reported its Q1 17 results slightly below consensus and our expectations. Net sales increased 9.4% yoy (8.2% in cc) to €268.8m (vs. or expectation of c.€274m), while the adjusted EBITDA margin rose 40bp to 26.7% (Q1 is typically the weakest quarter in terms of profitability). At the segmental level, the Bioprocessing business saw the expected normalisation (as a reminder, management had pointed towards a weaker H1, given supply bottlenecks and softer customer
07 Jun 2017
Modest start to the year; signals market normalisation
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Modest start to the year; signals market normalisation
Sartorius Stedim Biotech SA (0RG8:LON) | 0 0 0.0%
- Published:
07 Jun 2017 -
Author:
Jyoti Prakash -
Pages:
3
Sartorius Stedim (SSB) reported its Q1 17 results slightly below consensus and our expectations. Net sales increased 9.4% yoy (8.2% in cc) to €268.8m (vs. or expectation of c.€274m), while the adjusted EBITDA margin rose 40bp to 26.7% (Q1 is typically the weakest quarter in terms of profitability). At the segmental level, the Bioprocessing business saw the expected normalisation (as a reminder, management had pointed towards a weaker H1, given supply bottlenecks and softer customer