Sartorius Stedim’s Q2/H1 21 earnings had little element of surprise following the preliminary announcement on 6 July. H1 sales (+61.1%), EBITDA margin (36.1%) as well as guidance (FY21 top line +48%, margin at 36%) were all in line with the preliminary numbers. The strong performance has resulted in strong growth in cash flows as well as an improvement in leverage metrics.
However, given the largely expected showing, we do not foresee any significant change to our estimates or target price.
21 Jul 2021
Solid Q2 21 was largely expected
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Solid Q2 21 was largely expected
- Published:
21 Jul 2021 -
Author:
Virendra Chauhan -
Pages:
3
Sartorius Stedim’s Q2/H1 21 earnings had little element of surprise following the preliminary announcement on 6 July. H1 sales (+61.1%), EBITDA margin (36.1%) as well as guidance (FY21 top line +48%, margin at 36%) were all in line with the preliminary numbers. The strong performance has resulted in strong growth in cash flows as well as an improvement in leverage metrics.
However, given the largely expected showing, we do not foresee any significant change to our estimates or target price.