Sartorius AG

Earnings Release • May 31, 2002

News Details

Ad-hoc | 31 May 2002 21:00

Sartorius AG english

The Sartorius Group Increases First-Quarter Sales Revenue and EBITDA Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– The Sartorius Group Increases First-Quarter Sales Revenue and EBITDA Sales revenue for the Sartorius Group rose 10.6% under the IAS in the 1st quarter of 2002 to EUR 111.5 million from EUR 100.8 million reported for the comparable period the previous year. Earnings before interest, taxes, depreciation and amortization, EBITDA, increased 7.8% to EUR 5.7 million from EUR 5.3 million posted for the year-earlier period. Net cash flow improved substantially to EUR 2.5 million from EUR -12.9 million a year earlier. The startup phase of production at our Goettingen-based ‘Plant 2001’ that lasted until mid-April as scheduled, the increased depreciation in connection with the capital expenditures for this plant, the weak economic situation for the Mechatronics Division, and the buildup of the international sales and distribution structures at our subsidiary Vivascience all had a negative impact on our results. Earnings before interest and taxes, EBIT, that were adjusted for the costs of the structural buildup at Vivascience rose in the first quarter from EUR 0.8 million to EUR 1.7 million. The non-adjusted EBIT at EUR -0.3 million could not attain the previous year’s level of EUR 0.3 million. For the current financial year, the Executive Board sees its positive expectations confirmed and continues to assume that the Group will achieve double-digit sales growth and an overproportionate increase in EBIT. At our subsidiary GWT GmbH based in Hamburg, Germany, the Executive Board initiated action at the end of May to improve the earnings situation in the Industrial Mechatronics area. Essentially, this action provides for focusing on the components business that generates stronger margins while adapting personnel resources in the project business area. Thus, from the Executive Board’s stance, the required restructuring at GWT will have been completed for the time being. The detailed quarterly report can be downloaded from our website on the Internet at http://www.sartorius.com or a printed copy can be requested from our company. If you have any questions, please contact Dr. Joachim Kreuzburg (phone +49(0) 551/308 3438, e.mail: info.investor@sartorius.com). end of ad-hoc-announcement (c)DGAP 31.05.2002 ——————————————————————————– WKN: 716560; ISIN: DE0007165607; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX), Hannover; Freiverkehr in Berlin, Hamburg 312100 Mai 02