Sartorius Stedim Biotech: stock jumps with inline 9m results
(CercleFinance.com) - On Thursday, the Sartorius Stedim Biotech share was the biggest riser on the SBF 120, despite the publication of results that came as no great surprise following its big warning last week.
At 10.50 a.m., the stock was up almost 6%, while the SBF 120 index was losing around 1%.
This morning, the supplier of products and services to the biopharmaceutical industry reported 9m sales of E2,069m.
This figure was down 20.6% organically at constant exchange rates, with a decline of 19% including acquisitions.
Recurring EBITDA also fell, by 35% to 594 million euros, giving a margin of 28.7% versus 35% a year ago.
Order intake reached 617 million euros, giving a book-to-bill ratio of 0.93x, compared with 0.80x at the end of the second quarter of 2023, UBS analysts noted.
It also reiterated its targets, which it lowered significantly on 12 October, still expecting its FY sales to fall by around 19%, with an underlying Ebitda margin of slightly above 28%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
At 10.50 a.m., the stock was up almost 6%, while the SBF 120 index was losing around 1%.
This morning, the supplier of products and services to the biopharmaceutical industry reported 9m sales of E2,069m.
This figure was down 20.6% organically at constant exchange rates, with a decline of 19% including acquisitions.
Recurring EBITDA also fell, by 35% to 594 million euros, giving a margin of 28.7% versus 35% a year ago.
Order intake reached 617 million euros, giving a book-to-bill ratio of 0.93x, compared with 0.80x at the end of the second quarter of 2023, UBS analysts noted.
It also reiterated its targets, which it lowered significantly on 12 October, still expecting its FY sales to fall by around 19%, with an underlying Ebitda margin of slightly above 28%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.