Report
Christophe-Raphaël Ganet

Sartorius Stedim Biotech : Solid H1 2020 in line with the trading update

>Q2 in line with the recent trading update - Q2 sales came in at € 447m, i.e. +21.7%, and EBITDA came to € 135.6m. At the end of June, sales were € 869m (+22%) and EBITDA was € 262m, i.e. 30.2% of sales (R&D limited in June).With the most recent acquisitions, net debt increased, reaching € 243.2m (vs € 110m at end1e2019), i.e. leverage of 0.5 vs 0.3 at end-2019. Capex fell to 5.8% of sales (a one-off effect of the lockdown) but the target remains 8% for 2020 ...
Underlying
Sartorius Stedim Biotech SA

Sartorius Stedim Biotech is a provider of equipment and services for the development, quality assurance and production processes of the biopharmaceutical industry. Co.'s solutions cover fermentation, filtration, purification, fluid management and lab technologies and membrane chromatography, including various conventional lab products to biopharmaceutical laboratories. Co.'s technologies, products and services are used to develop and manufacture medications and vaccines using biological methods. Co.'s products covers all upstream and downstream steps in the production of active pharmaceutical ingredients. It specializes in single-use products and offers technical consulting and services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Christophe-Raphaël Ganet

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