WisdomTree International MidCap Dividend Fund (DIM)
$
72
+0.71 (0.99%)
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Technology
Technology – consumer electronics
Largecap
With a market cap of 121,78 bil stock is ranked 1
Low risk
ISS score of this stock is ranked 1
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Profile
The fund normally invests at least 95% of its total assets (exclusive of collateral held from securities lending) in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is a fundamentally weighted index that is comprised of the mid-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada. The fund is non-diversified.
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AUBAGNE, France--(BUSINESS WIRE)--Regulatory News: Sartorius Stedim Biotech (SSB) (Paris:DIM), a leading partner of the biopharma industry, has continued on its growth track, and reported a double-digit increase in sales revenue, order intake and earnings for the first nine months of 2019. “After a stronger-than-expected first half, growth momentum remained high in the third quarter. We have been benefiting from ongoing high demand across all regions and product categories and, beyond this, have continued to grow faster than the market,” said Dr. Joachim Kreuzburg, Chairman of the Board and CEO. “Against the backdrop of continued healthy end-market dynamics, we now expect that the upper end of our sales growth forecast of about 12% to 16% will be reached.” In the first nine months of 2019, sales revenue came in at 1,076.7 million euros, equating to a currency-adjusted increase of 18.1% (reported: +20.2%). Order intake1) rose 18.0% (reported: +20.0%) to 1,147.1 million euros. Fueled by strong project business in particular, the Asia|Pacific region achieved the highest growth rates, with sales revenue rising 28.4% (reported: +30.3%) to 265.5 million euros. The EMEA region (Europe | Middle East | Africa), which accounts for the largest share of Group sales, posted revenue growth of 15.7% (reported: +15.8%) to 435.9 million euros, whereas in the Americas, sales increased by 14.3% (reported: +18.8%) to 375.3 million euros against high comparables. (All changes in sales revenue and order intake are given in constant exchange rates, unless otherwise stated.) Underlying EBITDA1) rose overproportionately to sales by 24.2% to 312.3 million euros, driven by economies of scale and due to a change in an accounting rule.2) The respective margin climbed from 28.1% to 29.0%, with around half of a percentage point attributable to the above-mentioned change in accounting rules, as expected. Underlying net profit1) for the period amounted to 198.1 million euros, a 23.3% increase year over year, resulting in underlying earnings per share1) of €2.15 compared with €1.74 in the prior-year period. Key financial indicators The SSB Group continues to have a very solid balance sheet and financial position. Equity was strengthened by robust earnings, rising from 1,044.9 million euros as at year-end 2018 to 1,176.6 million euros as of the balance sheet date. The equity ratio of 66.4% remained at a comfortable level (Dec 31, 2018: 66.5%) while the ratio of net debt to underlying EBITDA declined from 0.4 at year-end 2018 to 0.3. As expected, the CAPEX ratio1) in the reporting period decreased considerably from 13.9% a year ago to 9.1%. Guidance 2019 specified at upper end of bandwidth In view of the positive business development in the first nine months of 2019 and continued high demand, Sartorius Stedim Biotech specified its financial guidance for the full year. For sales revenue growth management now anticipates that the upper end of the forecasted range of about 12% to 16% will be reached. The company’s underlying EBITDA margin remains projected to rise by slightly more than one percentage point over the prior-year figure of 28.2%. Approximately half a percentage point of this increase is forecasted to be an operational gain, whereas the remainder will result from a change to the accounting rules.1) All guidance figures are given in constant currencies. A disorderly exit of the United Kingdom from the EU and an exacerbation of international trade disputes could impact SSB’s supply chain to a certain extent, despite the measures already taken to counteract these developments. A reliable prognosis concerning possible effects cannot be made at the present time. 1) Sartorius Stedim Biotech publishes alternative performance measures that are not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry. Underlying EBITDA: earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items Order intake: all customer orders contractually concluded during the respective reporting period Underlying net profit: profit for the period after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate Underlying earnings per share: relevant net profit for the period divided by the number of shares outstanding (92,180,190) CAPEX ratio: investment payments in relation to sales revenue for the same period. Since 2019 and as a result of the change in IFRS 16 accounting principles, CAPEX has been based on cash flow instead of balance sheet computation; CAPEX ratio restated: 14.1% for 9M 2019; 14.6% for FY 2018 2) IFRS 16 is required to be applied as of 2019 and regulates accounting of lease contracts. This has led to a somewhat extended balance sheet and thus to a slightly lower equity ratio. Further, this has resulted in reporting longer-term lease payments as depreciation and, accordingly, in a somewhat higher EBITDA, but does not entail any material changes concerning the Group’s relevant net profit or earnings per share. This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events. This is a translation of the original French-language press release. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French press release is the legally binding version. Follow Sartorius Stedim Biotech on Twitter @Sartorius_Group and on LinkedIn. Conference call Joachim Kreuzburg, Chairman of the Board and CEO of the Sartorius Stedim Biotech Group, will discuss the company's business results, as well as the agreement to acquire select Danaher Life Sciences platform businesses, with analysts and investors on Monday, October 21, 2019, at 3:30 p.m. Central European Summer Time (CEST), in a teleconference. The dial-in numbers and presentation will be published shortly on the Sartorius Stedim Biotech website at: https://www.sartorius.com/en/company/investor-relations/sartorius-stedim-biotech-sa-investor-relations Press images https://www.sartorius.com/en/company/newsroom/downloads-publications Key performance indicators for the first nine months of 2019 € in millions, unless otherwise specified 9 months 2019 9 months 2018 ∆ in % reported ∆ % in cc1) Sales revenue 1,076.7 896.1 20.2 18.1 EMEA2) 435.9 376.5 15.8 15.7 Americas2) 375.3 315.8 18.8 14.3 Asia | Pacific2) 265.5 203.8 30.3 28.4 Order intake 1,147.1 955.6 20.0 18.0 EBITDA3) 312.3 251.4 24.2 EBITDA margin3) in % 29.0 28.1 Net profit4) 198.1 160.7 23.3 Earnings per share4) in € 2.15 1.74 23.3 Reconciliation in millions of € 9 months 2019 9 months 2018 EBIT (operating result) 250.9 202.2 Extraordinary items 11.5 8.5 Depreciation and amortization 49.8 40.7 Underlying EBITDA 312.3 251.4 in millions of € 9 months 2019 9 months 2018 EBIT (operating result) 250.9 202.2 Extraordinary items 11.5 8.5 Amortization | IFRS 3 10.3 12.5 Normalized financial result1) -3.2 -4.0 Normalized income tax (2019: 26%; 2018: 26%)2) -70.1 -57.0 Underlying net profit 199.5 162.2 Non-controlling interest -1.4 -1.5 Underlying net profit after non-controlling interest 198.1 160.7 Underlying earnings per share (in €) 2.15 1.74 1) Financial result excluding fair value adjustments of hedging instruments, as well as currency effects from foreign currency loans 2) Income tax considering the average group tax rate, based on the underlying profit before tax A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2018, the company earned sales revenue of €1,212.2 million and currently employs more than 6,000 people.
businesswire.com
7 years ago
AUBAGNE, France--(BUSINESS WIRE)--Regulatory News: With double-digit increases in sales revenue and earnings, Sartorius Stedim Biotech (SSB) (Paris:DIM), a leading partner of the biopharma industry, continues on the growth track. “Momentum developed very strongly in the course of this year, even if we adjust for relative moderate comparables particularly in the third quarter of 2017. We grew dynamically across all product categories and geographies and increased our profitability significantly. Conditions in the biopharma market continue to be healthy and demand for our products remains high. Backed by a strong order intake, we see us well on track to deliver on our ambitious 2018 targets,” said Dr. Joachim Kreuzburg, Chairman of the Board and CEO. Business development of the Group In the first nine months of 2018, Sartorius Stedim Biotech increased its sales revenue in constant currencies by 13.8% to 896.1 million euros (reported +11.4%). Growth was driven both by strong demand for equipment and single-use products. Almost all of the increase in sales revenue was achieved organically, whereas the acquisition of the software company Umetrics contributed around 0.5 percentage points of non-organic growth. Order intake also rose significantly by 14.5% in constant currencies to 955.6 million euros (reported +12.0%). In view of the regions, the Americas led growth, reporting a gain of 20.3% to 315.8 million euros relative to a moderate previous-year base (reported +15.9%). Compared to high growth in the year-earlier period, sales revenue in Asia|Pacific also showed positive development, increasing by 11.9% to 203.8 million euros. The EMEA2) region recorded a solid gain of 9.8% to 376.5 million euros (reported +9.4%). (All regional growth in constant currencies.) In the first nine months of 2018, Sartorius Stedim Biotech increased its underlying EBITDA1) overproportionately relative to sales, by 17.2% to 251.4 million euros. Driven by economies of scale and positive product mix effects, the Group's respective margin improved significantly year over year from 26.7% to 28.1%. Relevant net profit3) for the Group grew even more strongly by 22.9% from 130.8 million euros to 160.7 million euros thus earnings per share were 1.74 euros (9M 2017: 1.42 euros). The Group's key financial indicators remained at very robust levels. At the end of the reporting period, the ratio of net debt to underlying EBITDA stood at 0.4, and company's equity ratio was 61.6% (Dec. 31, 2017: 0.4 and 62.6%, resp.). The CAPEX ratio in the first nine months of 2018 was 13.9%, in-line with expectations (9M 2017: 11.3%). Investment activities focused on the expansion of the plant for manufacturing single-use bags and filters in Puerto Rico, IT and digitalization projects, and on the consolidation and expansion of sites and production capacity levels in Göttingen, Germany. 2018 guidance confirmed and specified In view of positive business development in the first nine months of 2018, management specified its full-year guidance as follows: Sales revenue growth is now projected to be in the upper range of the previously targeted bandwidth of 11% to 14% while the underlying EBITDA margin continues to be expected at around 28.0%, up from the prior-year figure of 27.3. All forecasts are based on constant currencies. As a result of changes in the currency exchange rates, reported figures in actual currencies may differ from constant currency guidance. 1) Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator 2) EMEA = Europe | Middle East | Africa 3) After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and corresponding tax effects This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, Chairman of the Board and CEO of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Tuesday, October 23, 2018, at 3:00 p.m. Central European Time (CEST), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=6785779&linkSecurityString=2c6a4a5c7 Alternatively, you can dial into the teleconference, without registering, at: +49 (0) 69 566 03 6000 To view the presentation, log onto: https://www.sartorius.com/en/company/investor-relations/sartorius-stedim-biotech-sa-investor-relations Current image files https://www.sartorius.com/en/company/newsroom/downloads-publications Upcoming financial dates January 29, 2019 Publication of preliminary figures for 2018 A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2017, Sartorius Stedim Biotech employed approx. 5,100 people and earned sales revenue of €1,081.0 million. Key Performance Indicators for the Nine-Month Period of 2018 otherwise specified 9 months2018 ∆ in %Reported ∆ in %cc2) 1) Data slightly adjusted due to finalization of purchase price allocation of the acquisition of Umetrics (now Sartorius Stedim Data Analytics AB) 2) In constant currencies 3) According to customers’ location 4) Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items 5) Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate
businesswire.com
7 years ago
AUBAGNE, France--(BUSINESS WIRE)--Regulatory News: Sartorius Stedim Biotech (SSB)(Paris:DIM), a leading partner of the biopharma industry, has continued on the growth track, delivering double-digit increases in sales revenue and earnings in the first half of 2018. “Especially the second quarter came in somewhat ahead of our initial expectations,” said Joachim Kreuzburg, Chairman of the Board and Chief Executive Officer. “This dynamic performance was broad-based, with both single-use products and equipment contributing to growth. In view of our strong order intake, we expect that this momentum will continue on into the second half, and therefore raise our forecast for the full year.” Business development of the Group In the first half of 2018, sales revenue rose by 11.1% in constant currencies (reported: +7.3%) from 545.9 million euros to 585.7 million euros. Growth was largely achieved organically, while consolidation of Umetrics that was acquired in April 2017 contributed around 1 percentage point to growth. Order intake increased by 11.8% in the same period and included some larger equipment projects. Regionally, the Americas recorded the highest increase in sales, up 15.3% to 202.0 million euros, relative to a rather low year-earlier revenue base that was impacted by some temporary dampening effects. The EMEA2) region achieved a gain of 9.1% to 252.1 million euros, while Asia|Pacific sales rose 8.9% to 131.6 million euros against high previous-year comparables. (All regional growth rates in constant currencies.) Earnings in the reporting period also increased substantially: Despite unfavorable currency effects, underlying EBITDA1) was up by 11.1%, primarily due to economies of scale, from 146.5 million euros to 162.8 million euros. The respective margin rose year over year from 26.8% to 27.8%. Relevant net profit3) for the Group increased overproportionately by 16.4% from 89.1 million euros to 103.7 million euros. This corresponds to earnings per share of 1.12 euros (H1 2017: 0.97 euros). The company's key financial indicators remained at robust levels. At the end of the reporting period, the company's equity ratio was 61.5% and its ratio of net debt to underlying EBITDA stood at 0.5 (Dec. 31, 2017: 62.6% and 0.4, resp.). The ratio of capital expenditures relative to sales (CAPEX) in the first half of 2018 rose to 15.9%. Investing activities focused on expansion of the plants in Yauco, Puerto Rico, and in Goettingen, Germany. In addition, SSB acquired software-related assets from Sartorius AG, which led to a temporary peak in SSB’s CAPEX ratio that is expected to decrease to projected levels in the second half of the year. As of the reporting date on June 30, 2018, Sartorius Stedim Biotech employed 5,310 people worldwide, 218 more than as of December 31, 2017 (around +4.3%). 2018 guidance revised upward In view of positive business development and strong order intake in the first half of 2018, management has raised its forecast for the full year: In constant currencies, sales revenue is now anticipated to increase by about 11% to 14% versus previous guidance of 7% to 10%. SSB’s underlying EBITDA margin is now projected to reach around 28.0%, up from the prior-year figure of 27.3% (previous guidance +0.5 percentage points). All forecasts are based on constant currencies. Due to the latest foreign exchange developments, the results reported in actual currencies may differ. We will explain the particular effects in the course of 2018. 1) Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator 2) EMEA = Europe | Middle East | Africa 3) After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and corresponding tax effects This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, Chairman of the Board and CEO of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Tuesday, July 24, 2018, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=2924053&linkSecurityString=122e29ee9 Alternatively, you can dial into the teleconference, without registering, at:+49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com Current image files Joachim Kreuzburg, CEO and Chairman of the Boardwww.sartorius.com/fileadmin/media/global/company/Sartorius_Kreuzburg.jpg Sartorius products used in the manufacture of medicationshttps://www.sartorius.com/mediafile/corp/Sartorius_0232_PG9_01_RGB.jpg Upcoming financial dates October 23, 2018 Publication of nine-month figures (January to September 2018) A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2017, the company employed approx. 5,100 people, and earned sales revenue of €1,081.0 million. Key performance indicators for the first half of 2018 otherwise specified ∆ in %reported ∆ % incc2) 1) Data slightly adjusted due to finalization of purchase price allocation of the acquisition of Umetrics (now: Sartorius Stedim Data Analytics AB) 2) cc = in constant currencies 3) According to customers’ location 4) Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items 5) Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate
businesswire.com
7 years ago
AUBAGNE, France--(BUSINESS WIRE)--Regulatory News: Sartorius Stedim Biotech (SSB)(Paris:DIM), a leading partner of the biopharma industry, successfully started off the year 2018. “In the first quarter, we have seen continued positive business momentum in all regions. On the currency side, we faced considerable headwinds due to the depreciation of the U.S. dollar against the euro, which also affected our profitability. Order intake developed positively, giving us confidence that we are well on track to deliver on our full-year targets,” said CEO Dr. Joachim Kreuzburg. Business development of the Group In the first three months of 2018, Sartorius Stedim Biotech increased its sales revenue in constant currencies by 9.8% (reported +4.6%) from 268.8 million euros in the year-earlier period to 281.1 million euros. The acquisition of the software company Umetrics contributed around 1.5 percentage points of inorganic growth. In the reporting period order intake increased by 9.0% in constant currencies (reported +3.9%). Regionally, Asia|Pacific recorded the strongest growth, driven by solid demand for single-use products. Sales were up by 19.5% to 64.8 million euros. First-quarter sales revenue for the Americas region was 93.8 million euros, up 10.2% from a year ago. In the EMEA1 region, SSB generated sales of 122.5 million euros, 5.0% more than in the comparable year-earlier period (all regional growth in constant currencies). Compared with a strong prior-year base, underlying EBITDA2 increased 3.0%, and reached 74.0 million euros. Diluted by unfavorable currency effects by approximately 0.5 percentage points, the Group's respective margin was 26.3% relative to 26.7% in the first three months of the previous year. Relevant net profit3 for the Group grew by 7.0% from 44.0 million euros to 47.1 million euros. Earnings per share totaled 0.51 euros (3M 2017: 0.48 euros). The Group's key financial indicators remained at very robust levels. At the end of the reporting period, the ratio of net debt to underlying EBITDA stood at 0.4, and company's equity ratio was 62.8% (Dec. 31, 2017: 0.4 and 62.6%, resp.). The capex ratio in the first three months of 2018 was 9.2%. 2018 guidance confirmed In view of positive business development in the first quarter of 2018, management confirms its full-year forecast for 2018: In constant currencies, sales revenue is expected to increase by about 7% to 10%, and the underlying EBITDA margin is anticipated to rise by approx. 0.5 percentage points over the prior-year figure of 27.3% Because of the latest currency developments, reported figures in actual currencies might differ from constant currency guidance; details will be provided as 2018 progresses. 1 EMEA = Europe | Middle East | Africa 2 Sartorius uses underlying EBITDA (earnings before interest, taxes, depreciation and amortization and adjusted for extraordinary items) as the key profitability indicator 3 After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result and corresponding tax effects This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, CEO and Chairman of the Board of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Tuesday, April 24, 2018, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=2821803&linkSecurityString=eeaa4dd9 Alternatively, you can dial into the teleconference, without registering, at:+49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com Current Image Files Dr. Joachim Kreuzburg, CEO and Chairman of the Boardwww.sartorius.com/fileadmin/media/global/company/Sartorius_Kreuzburg.jpg Sartorius products used in the manufacture of medicationshttps://www.sartorius.com/mediafile/corp/Sartorius_0232_PG9_01_RGB.jpg Upcoming Financial Dates July 24, 2018 Publication of the first-half figures (January to June 2018) October 23, 2018 Publication of nine-month figures (January to September 2018) A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2017, the company employed approx. 5,100 people, and earned sales revenue of €1,081.0 million. Key Performance Indicators for the first quarter of 2018 otherwise specified Growthin %const. fx 1 According to customers’ location 2 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items 3 Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate
businesswire.com
7 years ago
AUBAGNE, France--(BUSINESS WIRE)--Regulatory News: Unaudited figures 1 According to customers’ location 2 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, adjusted for extraordinary items 3 Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate Solid revenue growth despite a high prior-year base; order intake gaining momentum Given the high revenue base after two extraordinarily strong years and a partially challenging business environment, Sartorius Stedim Biotech (SSB), a leading supplier for the biopharmaceutical industry, showed robust development in fiscal 2017 with an increase in sales revenue by around 4.1% to €1,081.0 million. Consolidation of acquisitions contributed around 1 percentage point to growth. Dynamics were temporarily dampened by destocking by some customers as well as by transient manufacturing and supply bottlenecks that weighed especially on the Americas region. In contrast, Asia showed strong double-digit growth fueled by large equipment projects. Driven by a robust H2 performance, order intake grew twice as fast as sales; supporting a positive 2018 outlook. Slight increase in underlying EBITDA and net profit SSB’s underlying EBITDA increased by 2.2% to €294.9 million. Influenced by unfavorable currency effects, the corresponding margin declined slightly from 27.5% to 27.3%. Underlying earnings per share were up to €1.96 from €1.92 last year. The US tax reform had no significant impact on SSB´s net earnings in 2017. Comfortable financial position Even after the acquisition of Umetrics in 2017, SSB ´s financial position has remained very solid. Equity ratio was at 62.6% and the ratio of net debt to underlying EBITDA at 0.4 (63.9% and 0.2 by year-end 2016), net debt at the end of the fiscal year 2017 stood at €127.1 million (year-end 2016 67.6 million). Positive outlook for 2018 Sartorius Stedim Biotech expects profitable growth for the year 2018. Management forecasts a rise in sales revenue by about 7% to 10% and an increase of the underlying EBITDA margin by approx. 0.5 percentage points over the prior-year figure of 27.3%. Capex is expected to be at approx. 15% of sales. All figures in this outlook are given in constant currencies. Because of current currency developments, especially regarding the exchange rate between the US dollar and the euro, the profitability expectation may have to be checked during the year. From 2018 onwards, the US tax reform is expected to lead to a reduction in the SSB Group´s tax rate by approximately 2 percentage points to 26%. All figures given above are subject to a final audit by statutory auditors. This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, CEO and Chairman of the Board of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Wednesday, January 31, 2018, at 4 p.m. Central European Time (CET), in a teleconference. You may register to the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=4999614&linkSecurityString=18dd48dd2 Alternatively, you can dial into the teleconference without registration at: +49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2017, the company employed approx. 5,100 people, and earned sales revenue of €1,081.0 million according to preliminary figures. __________________________________________________________________________________________
businesswire.com
8 years ago
AUBAGNE, France & GOETTINGEN, Germany--(BUSINESS WIRE)--Regulatory News: 1 According to customers’ location2 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items3 Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate Revenue growth rate influenced by high comps and temporary effects Sartorius Stedim Biotech (Paris:DIM), a leading supplier for the biopharmaceutical industry, increased its sales revenue in the first nine months of 2017 compared to a very high previous-year base by 3.3%. While business in Asia performed very dynamically, demand was soft in the Americas and parts of Europe. This was a result of customer inventory destocking, the temporary interruption of deliveries from the company’s facility in Puerto Rico after Hurricane Maria, and ongoing restrictions of a partner’s capacity to supply cell culture media in North America. The acquisitions of kSep and Umetrics contributed close to 1 percentage point to sales growth. Driven by double-digit growth in Q3, order intake was up by 6.3% in the reporting period. Slight increase in underlying EBITDA Influenced by unfavorable currency effects, SSB’s underlying EBITDA increased by 1.0% to €216.2 million; the respective margin reached 26.8% (9M 2016: 27.3%) and would have been approx. at previous year´s level in constant currencies. Underlying earnings per share were €1.43 (9M 2016: €1.42). Financial position remains strong In the reporting period, the financial position of Sartorius Stedim Biotech has remained very robust. Net debt at the end of September 2017 stood at €149.5 million. The equity ratio amounted to 61.4%, and the ratio of net debt to underlying EBITDA was 0.5. Full-year 2017 guidance adjusted, mid-term outlook confirmed Management assumes that the previously mentioned temporary factors will influence the financial results for the full year of 2017 as well. Therefore, SSB now expects that sales revenue growth will reach approx. 4% in constant currencies (previous guidance: approx. 8% to 12%) and due to adverse exchange rate effects the underlying EBITDA margin will be approx. at the prior-year level of 27.5% (previous guidance: approx. +0.5 percentage points in cc vs. FY 2016). Capital expenditures are expected to be at the upper end of the bandwidth of around 10% to 13% of sales. As the fundamental market drivers are considered to be unchanged, management confirms its positive mid-term outlook for revenue growth and profitability. This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference Call Joachim Kreuzburg, CEO and Chairman of the Board of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Wednesday, October 25, 2017, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=8481620&linkSecurityString=2746420dc Alternatively, you can dial into the teleconference, without registering, at: +49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com Upcoming financial dates February 6, 2018 Publication of preliminary figures for 2017 A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2016, the company employed approx. 4,700 people, and earned sales revenue of 1,052 million euros.
businesswire.com
8 years ago
GOETTINGEN, Germany--(BUSINESS WIRE)--Regulatory News: Sartorius Stedim Biotech S.A. (Paris:DIM): 1 According to customers’ location2 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items3 Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate Robust top-line growth Sartorius Stedim Biotech (SSB), a leading supplier for the biopharma industry, recorded a robust increase in sales revenue of 7.5% in the first half of 2017. As expected, the market environment returned to normal growth after two extraordinarily strong years. While SSB’s growth rates for Europe and the Americas were relatively low as they compare against an exceptionally high prior-year base, business in Asia/Pacific excelled with a gain of nearly 40% due to some large equipment projects. As expected, limited delivery capacities for cell culture media continued to impact business in the Americas in the second quarter; yet the company assumes that this situation will normalize during the third quarter. The acquisitions of the centrifuge specialist kSep and the software company Umetrics contributed close to 1 percentage point to sales growth in the reporting period. Profitability further enhanced Driven by economies of scale, SSB’s underlying EBITDA increased by 8.1% from 136.4 million euros to 147.4 million euros; the respective margin rose from 26.8% to 27.0%. Underlying earnings per share correspondingly increased from 0.91 euros to 0.97 euros. Strong financial position With an equity ratio of 59.9% and a ratio of net debt to underlying EBITDA of 0.6, SSB’s financial position remained very strong and stable. Net debt at the end of the first half stood at 166.9 million euros. Full year 2017 guidance confirmed Management confirmed its full-year forecast for 2017 which projects sales revenue to increase by about 8% to 12% and the underlying EBITDA margin to rise by approx. 0.5 percentage points over the prior-year figure of 27.5%, with both forecasts given in constant currencies. SSB continues to project capital expenditures of around 10% to 13% of sales in the current year. This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, CEO and Chairman of the Board of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Friday, July 21, 2017, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=8963117&linkSecurityString=256e3090d Alternatively, you can dial into the teleconference, without registering, at: +49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2016, the company employed approx. 4,700 people, and earned sales revenue of 1,052 million euros.
businesswire.com
8 years ago
GOETTINGEN, Germany--(BUSINESS WIRE)--Regulatory News: 1 According to customers’ location 2 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items 3 Underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and non-cash amortization, as well as based on a normalized financial result and tax rate 4 Q1 2016 adjusted for stock split Continued top-line growth Sartorius Stedim Biotech (SSB), a leading supplier for the biopharma industry, recorded an increase in sales revenue of around 8% in the first quarter of 2017. As expected, the market environment returned to normal growth rates after two exceptional years. Business development in the Americas was influenced by softer customer demand as well as by limited delivery capacities for cell culture media, while Asia | Pacific posted the highest growth rate with a gain of around 37%, driven by strong demand across the portfolio. The acquisition of the software company Umetrics, closed in early April, did not affect Q1 2017 results. Overproportionate rise in profits Driven by economies of scale, SSB’s underlying EBITDA increased by 11.2% to 71.9 million euros; the corresponding margin reached 26.7%. Underlying earnings per share were 0.48 euros, up year over year from 0.43 euros. Strong financial position With an equity ratio of 61.9% and a ratio of net debt to underlying EBITDA of 0.3, SSB’s financial position remained very strong and stable. Net debt at the end of the first quarter stood at 74.8 million euros. 2017 guidance confirmed Based on the company’s first-quarter results, management confirmed its full-year forecast for 2017. Sales revenue is expected to increase by about 8% to 12% and the underlying EBITDA margin is anticipated to rise by approx. 0.5 percentage points over the prior-year figure of 27.5%, with both forecasts given in constant currencies. SSB continues to project capital expenditures of around 10% to 13% of sales in the current year. Including the acquisition of Umetrics and excluding any further potential acquisitions, the ratio of net debt to underlying EBITDA at the end of 2017 is expected to be slightly above the level of 0.2 reported for year-end 2016. This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties. Conference call Joachim Kreuzburg, CEO and Chairman of the Board of the Sartorius Stedim Biotech Group, will discuss the company’s results with analysts and investors on Monday, April 24, 2017, at 3:30 p.m. Central European Time (CET), in a teleconference. You may register for the teleconference at: http://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=2173934&linkSecurityString=8938b98a Alternatively, you can dial into the teleconference, without registering, at:+49 (0) 69 566 03 6000 To view the presentation, log onto: www.sartorius-stedim.com A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. In 2016, the company employed approx. 4,700 people, and earned sales revenue of 1.052 million euros.
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