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Sartorius Stedim Biotech: The rising star of European healthcare
With the pandemic seeing sales of products facilitating vaccines and other Covid-related medicine soar, Sartorius’ turnover jumped 34.6% to €1.9 billion in 2020.
Filtration devices, frozen storage and shipping equipment, single-use medical products… there has never been a higher demand for these and many other pieces of medical equipment produced by the company, founded in Germany in 1870.
The firm’s bumper 2020 saw it exceed pre-pandemic sales-targets by a factor of three. It must be stressed that it had all the attributes necessary to flourish before last year’s unexpected turn of events. Sartorius’ intelligence and agility has allowed it to surf the wave of demand for its products.
A highly profitable business-model
“We have witnessed unprecedented growth across all categories and products and in all markets.” As statements from company CEOs go, shareholders could hardly hope to hear better. “Demand has increased most notably in products associated with Covid-19 vaccines and related medicines,” continued Joachim Kreuzburg adding, “and despite current restrictions, the integration of the life-sciences division acquired from Danaher is going well too. We begin the second quarter of 2021 with complete confidence, despite the uncertainty and challenges the coronavirus still poses.
Sartorius actually made two significant acquisitions in 2020, the aforementioned Danaher deal and the purchase of cellular-culture specialist Biological Industries. “These acquisitions account for three percentage points of the group’s growth since December 2019,” a spokesperson for the group indicated. And profitability wise? The firm’s current Ebitda has risen by 39.2% to €434.7 million. “Economies of scale are the main reason for this considerable increase in profitability, not to mention the reduction in costs in certain domains in light of the pandemic.”
In 2021, Sartorious’ directors are aiming to see sales increase by 20-25%. If this is achieved, revenue should reach €4 billion in 2021 – over a billion euro more than pre-pandemic targets!
The pandemic effect
The group estimates that the pandemic has led to a 9% increase in turnover. Over half of this increase is due to the group ramping up production of vaccines and other Covid-related medication, and the rest is down to clients beefing up their own stocks.
"In 2021, Sartorious’ directors are aiming to see sales increase by 20-25%. If this is achieved, revenue should reach €4 billion in 2021 – over a billion euro more than pre-pandemic targets!"
At the start of April 2020, Sartorius’ share price was $188, twelve months on it stands at over $400. But the fortunes of the group do not rely solely on the world’s response to the pandemic; three-quarters of its revenue is recurrent, which explains the robustness of the Sartorius business model.
The Gottingen-headquartered company is one of the chief international suppliers of products and services to the biopharmaceutical industry that are essential to the production of pharmaceutical products. The main types of products it produces are automated cell-banking systems, single-use bioreactors, membrane chromatography devices, and platforms used in the purification, fermentation and filtration of fluids. And as a supplier of integrated solutions, the portfolio of Sartorius Stedim Biotech covers all steps of biopharmaceutical production.
The company is a major global player, with points of sale and R&D centers in 20 countries in Europe, North America and Asia employing around 6,200.
Having garnered a reputation for safety, speed and reliability over the years, Sartorius is trusted around the world. By concentrating on high added-value, single-use technologies, Sartorius has ideally positioned itself to take advantage of technological change affecting the biotech sector.
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