Sartorius Stedim: optimistic targets and acquisition
(CercleFinance.com) - Given recent sales trends, at constant exchange rates, Sartorius Stedim Biotech now expects to reach the top of its 12-16% sales growth target range, with an underlying EBITDA margin up just over 1% compared to last year (28.
Over 9m 2019, it posted a 23.3% rise in underlying net income to 198.1 million euros, with an underlying EBITDA margin up 0.9 point at 29%, for sales of 1,076.7 million euros, up 18.1%.
Alongside these results, the group announced its commitment to acquire part of Danaher's life sciences portfolio as part of a broader transaction between Danaher and Sartorius Group, SSB's largest shareholder.
In 2018, the businesses it intends to acquire posted combined sales of about 70 million dollars, with a strong double-digit profit margin: they employ about 110 people worldwide.
The total purchase price is approximately 750 million dollars, of which approximately one quarter will be attributed to activities acquired by SSB. The proposed transaction is expected to be finalised in Q1 2020 and is subject to Danaher's acquisition of GE Biopharma.
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