CAPTION: German pharmaceutical firm Sartorius Stedim Biotech has seen a significant rise in profit in the first quarter.(picture alliance/dpa)
German pharmaceutical firm Sartorius Stedim Biotech, which also supplies laboratory equipment, has seen a significant rise in profit in the first quarter, the company said.
For the first three-month period of 2022, Sartorius reported a profit of €270.1 million ($295 million) or €2.21 per share, compared with €125.8 million or €1.64 per share, reported for the same period a year ago.
Underlying net profit for the period was also rose to €203.4 million, from €151.3 million of last year.
The German firm also posted an increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) at €303.7 million as against €231.6 million, recorded for first quarter of 2021.
For the first quarter, the Göttingen-based lab equipment supplier generated sales revenue of €862.5 million, versus €655.2 million posted for the first three-month period of last year.
Looking ahead, for the fiscal 2022, the company expects a rise in its consolidated sales revenue by about 15 to 19%, with non-organic growth from acquisitions projected to contribute about two percentage points.
The company's underlying EBITDA margin is expected to reach over 35% for the full year.
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