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Sartorius: Fact Sheet on New Reporting Format

    From the first quarter of 2013 onwards, Sartorius (FWB:SRT) will adopt a few slight changes to its reporting in order to follow established international reporting practice and thus to provide financial data in the best comparable manner. Relevant changes relate to amortization as well as to other taxes, which are now shown under functional expenses. Moreover, going forward underlying EBITDA will be used as the key performance indicator instead of underlying EBITA, which has been used so far. However, these changes to cost allocations do not influence the net result of Sartorius. This fact sheet translates Sartorius business figures for 2012 as well as its earnings guidance for 2013 according to these changes.

    Sartorius Group                  
    in millions of € unless otherwise specified      
                       
        3-mo. 2012   6-mo. 2012   9-mo. 2012   FY 2012  
    Sales revenue   208.1   422.1   639.4   845.7  
    Cost of sales   -106.8   -216.7   -326.9   -429.8  
    Gross profit on sales   101.3   205.4   312.4   415.9  
    Selling and distribution costs   -49.2   -98.6   -147.2   -196.1  
    Research and development costs   -12.2   -24.3   -37.3   -49.0  
    General administrative expenses   -12.7   -25.4   -37.9   -49.8  
    Other operating income and expenses   -3.6   -7.8   -10.8   -14.1  
    Earnings before interest and taxes (EBIT)   23.6   49.2   79.3   106.8  
    Financial result   -0.8   -6.4   -7.6   -12.9  
    Profit before taxes   22.8   42.8   71.7   93.9  
    Income taxes | deferred taxes   -7.3   -13.7   -22.9   -29.7  
    Non-controlling interest   -3.7   -7.0   -11.9   -15.7  
    Net profit   11.9   22.1   36.9   48.5  
                       
    Amortization   2.9   5.8   8.8   11.7  
    Extraordinary expenses   3.2   7.1   9.7   13.9  
    Underlying EBITA1)   29.7   62.1   97.7   132.5  
    Underlying EBITA margin in %1)   14.3   14.7   15.3   15.7  
    Depreciation   6.5   13.7   20.8   28.6  
    Underlying EBITDA1)   36.2   75.8   118.5   161.1  
    Underlying EBITDA margin in %1)   17.4   18.0   18.5   19.0  

     

    Sartorius Divisions

    		                  
    in millions of € unless otherwise specified      
        3-mo. 2012   6-mo. 2012   9-mo. 2012   FY 2012  
    Bioprocess Solutions                  
    Underlying EBITA1)   19.5   42.0   65.2   86.5  
    Underlying EBITA margin in %1)   16.9   17.7   18.1   18.2  
    Underlying EBITDA1)   23.4   50.3   77.2   103.2  
    Underlying EBITDA margin in %1)   20.3   21.2   21.4   21.8  
        3-mo. 2012   6-mo. 2012   9-mo. 2012   FY 2012  
    Lab Products & Services                  
    Underlying EBITA1)   8.3   16.1   25.9   36.0  
    Underlying EBITA margin in %1)   12.5   12.1   12.8   13.4  
    Underlying EBITDA1)   10.4   20.5   33.1   45.9  

    Underlying EBITDA margin in %1)

    		   15.7   15.4   16.3   17.1  

     

    		                  
    Industrial Weighing                  
    Underlying EBITA1)   1.9   4.1   6.7   10.0  
    Underlying EBITA margin in %1)   7.4   7.9   8.7   9.7  
    Underlying EBITDA1)   2.4   5.0   8.2   11.9  
    Underlying EBITDA margin in %1)   9.2   9.7   10.6   11.6  

     

    Comparison of 2012 reported vs. restated figures

    		              
    in millions of € unless otherwise specified      
               
        FY 2012 reported   Margin in %   FY 2012 restated   Margin in %  
    Group                  
    Underlying EBITA1)   135.0   16.0   132.5   15.7  
    Underlying EBITDA1)   163.6   19.3   161.1   19.0  
    Bioprocess Solutions                  
    Underlying EBITA1)   88.0   18.6   86.5   18.2  
    Underlying EBITDA1)   104.7   22.1   103.2   21.8  
    Lab Products & Services                  
    Underlying EBITA1)   36.9   13.7   36.0   13.4  
    Underlying EBITDA1)   46.8   17.4   45.9   17.1  
    Industrial Weighing                  
    Underlying EBITA1)   10.1   9.9   10.0   9.7  
    Underlying EBITDA1)   12.1   11.8   11.9   11.6  

    Sartorius Group Earnings Guidance 2013

       

    2013 guidance based on underlying

    EBITA margin1)2)

    		  

    2013 guidance based on underlying

    EBITDA margin1)2)

    		  
               
        before restatement   after restatement  
    Group   ~ 16.5%   ~ 19.5%  
    Bioprocess Solutions   ~ 19%   ~ 22.5%  
    Lab Products & Services   ~ 14%   ~ 17.5%  
    Industrial Weighing   ~ 10%   ~ 11.5%  

    1) Adjusted for extraordinary items 2) in constant currencies

    As of the first quarter of 2013, only guidance based on underlying EBITDA will be provided.

    A Profile of Sartorius

    The Sartorius Group is a leading international laboratory and process technology provider covering the segments of Bioprocess Solutions, Lab Products & Services and Industrial Weighing. In 2012, the technology group earned sales revenue of 845.7 million euros. Founded in 1870, the Goettingen-based company currently employs around 5,500 persons. The major areas of activity of its Bioprocess Solutions segment cover filtration, fluid management, fermentation, cell cultivation and purification, and focus on production processes in the biopharmaceutical industry. The Lab Products & Services segment primarily manufactures laboratory instruments and lab consumables. Industrial Weighing concentrates on weighing, monitoring and control applications in the manufacturing processes of the food, chemical and pharma sectors. Sartorius has its own production facilities in Europe, Asia and America as well as sales subsidiaries and local commercial agencies in more than 110 countries.

     

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