Sartorius 2Q Net Profit Fell on Sales Hit From Weaker Demand
By Adria Calatayud
Sartorius said Friday that second-quarter net profit fell on sales that took a hit from weaker demand in both its bioprocess and laboratory-products divisions, and confirmed its recently downgraded outlook for 2023.
The German life-sciences group said net profit for the second quarter was 95.0 million euros ($105.7 million) compared with EUR165.8 million in the year-earlier period.
Revenue for the quarter dropped to EUR832.0 million from EUR1.04 billion a year before, with a 19% fall in bioprocess solutions and a 13% decline in lab products and services. Order intake for the quarter was down by a third at EUR684.8 million.
Sartorius's quarterly underlying earnings before interest, taxes, depreciation and amortization fell 30% to EUR244.7 million.
The company said its outlook for the year remains unchanged after it issued a profit warning last month, citing a postpandemic slump in demand.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 21, 2023 01:29 ET (05:29 GMT)
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