Sartorius Stedim reported FY22 sales growth of 15.1% in cc terms with an underlying EBITDA margin of 35% coming in 40bp ahead of estimates.
For FY23, the firm expects soft sales growth of low single-digit with a stable EBITDA margin. However, the bigger news was a 10% upgrade to the firm’s FY25 sales estimate.
We expect a high single-digit cut to our FY23 top-line estimates, the impact of which should be buffered by the more promising longer-term outlook.
01 Feb 2023
Q4/FY22: soft FY 23 outlook overshadowed by FY 25 target upgrade
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Q4/FY22: soft FY 23 outlook overshadowed by FY 25 target upgrade
- Published:
01 Feb 2023 -
Author:
Virendra Chauhan -
Pages:
3
Sartorius Stedim reported FY22 sales growth of 15.1% in cc terms with an underlying EBITDA margin of 35% coming in 40bp ahead of estimates.
For FY23, the firm expects soft sales growth of low single-digit with a stable EBITDA margin. However, the bigger news was a 10% upgrade to the firm’s FY25 sales estimate.
We expect a high single-digit cut to our FY23 top-line estimates, the impact of which should be buffered by the more promising longer-term outlook.