Sartorius Stedim’s Q1 21 numbers trumped estimates. Sales were up 61.1% on a cc basis, while order intake growth was even more impressive (+95.9%). EBITDA was up by 82.8%, with the associated margin expanding by 540bp.
FY21 guidance was unchanged: revenue growth of 38% and EBITDA margin of 33%. We will upgrade our estimates and target price to factor in the strong performance.
21 Apr 2021
Solid Q1 21 surprisingly fails to lift outlook
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Solid Q1 21 surprisingly fails to lift outlook
- Published:
21 Apr 2021 -
Author:
Virendra Chauhan -
Pages:
3
Sartorius Stedim’s Q1 21 numbers trumped estimates. Sales were up 61.1% on a cc basis, while order intake growth was even more impressive (+95.9%). EBITDA was up by 82.8%, with the associated margin expanding by 540bp.
FY21 guidance was unchanged: revenue growth of 38% and EBITDA margin of 33%. We will upgrade our estimates and target price to factor in the strong performance.