Sartorius Stedim Biotech : The next warning, mid-term guidance will be cut
>Very weak third quarter - Sartorius Stedim reported preliminary 9M results and lowered its guidance for 2023 for the second time this year. Q3 revenues were € 604m (-16% y-o-y), which was a miss of -16%/-15% vs ODDO BHF/consensus. The organic decline in the third quarter was at c. -29%, severely lower than our forecast of -13%. The main negative drivers were the longer-than-expected ongoing inventory reductions after the end of the Covid pandemic and relatively low p...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.
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.
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