Sartorius reported estimate-beating Q2 22 numbers with revenue of €1.04bn, up 16.6% on a cc basis, leveraging broad-based growth. EBITDA, at €348.5m, resulted in a margin of 33.7%, down 110bp due to planned increases in opex.
The firm re-iterated FY22 guidance of 15-19% with an EBITDA margin at 34%, effectively upgrading its core business guidance as COVID-19-related vaccine normalisation was steeper than expected. We will raise our estimates.
25 Jul 2022
Order book decline does not take shine off a strong Q2
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Order book decline does not take shine off a strong Q2
Sartorius reported estimate-beating Q2 22 numbers with revenue of €1.04bn, up 16.6% on a cc basis, leveraging broad-based growth. EBITDA, at €348.5m, resulted in a margin of 33.7%, down 110bp due to planned increases in opex.
The firm re-iterated FY22 guidance of 15-19% with an EBITDA margin at 34%, effectively upgrading its core business guidance as COVID-19-related vaccine normalisation was steeper than expected. We will raise our estimates.