The laboratory and pharmaceutical equipment supplier Sartorius has revised its forecast for the current year 2024 downwards. The DAX-listed company now expects sales to be approximately at the previous year's level, with a range from a low single-digit negative to low single-digit positive sales development. Previously, Sartorius had projected a sales increase in the mid to high single-digit percentage range.

The operative EBITDA margin is now seen at 27 to 29 percent, whereas previously a value of slightly over 30 percent was forecast. The investment ratio is expected to be around 12 percent of sales this year, instead of the originally planned 13 percent. The dynamic debt ratio is expected to be around 4, instead of slightly over 3.

Sartorius has met its targets for the first half of the year and achieved the desired slight sales growth and robust profitability in the second quarter," said CEO Joachim Kreuzburg. "As in the first three months, the picture in the second quarter was also extraordinarily mixed: Significant positive drivers were parts of the consumables business and the business with customers working on cell and gene therapies." At the same time, the company observed a longer-than-expected reluctance in demand for other product groups. In addition, market dynamics in China remained subdued. In view of the high volatility and limited predictability, the company is consciously taking a more cautious outlook for the second half of the year and expects to see increasing demand dynamics only in the final quarter.

In the first half of the year, Sartorius recorded a moderate revenue decline in the low single-digit range, currency-adjusted minus 2.2 percent and nominal minus 3.2 percent, to 1.68 billion euros. From April to June, revenue increased by 3.6 percent. Orders received in the first half of the year rose by 8.5 percent currency-adjusted, and by 7.5 percent nominal, to 1.558 billion euros.

The operational EBITDA decreased by 8.8 percent to 471 million euros in the first six months due to volume and product mix effects. This resulted in a margin of 28.1 percent compared to 29.8 percent in the previous year. The net profit for the period reached 148 million euros after 202 million euros in the previous year's period. The adjusted earnings per common share amounted to 2.15 euros, down from 2.95 euros in the previous year, and the adjusted earnings per preferred share were 2.16 euros, down from 2.96 euros.

The Sartorius preferred share temporarily fell by 4.28 percent to 235.00 euros in post-market Tradegate trading.