Coming in the wake of a profit warning issued on 16 October, Sartorius’ Q3 17 results were expectedly weak with both top-line and profitability trending materially below ours and the market expectations (both top-line and profitability). Net sales grew 3.3% in cc to €339.5m (flat on a reported basis) vs. our expectation of 7-8% growth. This included a good 4.6ppt contribution from acquisitions (Essen Bioscience and Vericyte), so that organic growth was effectively negative (-1.4% t
02 Nov 2017
Profit warning dampens sentiment
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Profit warning dampens sentiment
Sartorius AG (0NIQ:LON) | 13,825 0 0.0% | Mkt Cap: 10,352m
- Published:
02 Nov 2017 -
Author:
Jyoti Prakash -
Pages:
4
Coming in the wake of a profit warning issued on 16 October, Sartorius’ Q3 17 results were expectedly weak with both top-line and profitability trending materially below ours and the market expectations (both top-line and profitability). Net sales grew 3.3% in cc to €339.5m (flat on a reported basis) vs. our expectation of 7-8% growth. This included a good 4.6ppt contribution from acquisitions (Essen Bioscience and Vericyte), so that organic growth was effectively negative (-1.4% t