– 2022 revenue forecast updated due to acquisition
IN PRISON, France, February 8, 2022 /PRNewswire/ — Sartorius Stedim Biotech, a leading partner in the biopharmaceutical industry, announced today that it has completed the acquisition of the Novasep chromatography division effective February 7, 2022, after approval by the United States Federal Trade Commission. The transaction had already been concluded in early 2021. The acquired business generated revenue of approximately 40 million euros in 2020 with a double-digit profit margin; final figures for 2021 are not yet available. The majority of the approximately 100 employees work at the Pompey site in eastern France and some in the United States, Chinaand India.
The acquired portfolio includes chromatography systems primarily suitable for small biomolecules, such as oligonucleotides, peptides and insulin, as well as innovative systems for the continuous manufacturing of biologicals. Since 2018, Novasep and Sartorius Stedim Biotech have also jointly developed systems optimized for membrane chromatography technology.
As the acquisition is expected to generate additional non-organic revenue growth of approximately 1 percentage point in 2022, Sartorius Stedim Biotech has updated its current year revenue guidance as follows: consolidated revenue is now expected to grow approximately 15% to 19% (previously approximately 14% to 18%), with non-organic growth from acquisitions expected to contribute approximately 2 percentage points (previously approximately 1 percentage point ). The company’s underlying EBITDA margin is still expected to be over 35% this year.
All forecasts are based on constant currencies.
This press release contains forward-looking statements regarding 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 responsibility for updating these statements in light of new information or future events. Sartorius Stedim Biotech accepts no responsibility for the accuracy of this English text. The original French press release is the legally binding version.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solution provider, the company helps its customers to manufacture biotechnology drugs safely, quickly and economically. Based in Aubagne, France, Sartorius Stedim Biotech is listed on Eurolist by 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 is experiencing double-digit average annual growth and is regularly expanding its portfolio by acquiring complementary technologies. In 2021, the company employed more than 10,400 people and achieved a turnover of approximately €2.89 billion according to preliminary figures. Follow Sartorius Stedim Biotech on Twitter @Sartorius_Group and on LinkedIn.
Head of Corporate Communication and Investor Relations
Show original content to download multimedia:https://www.prnewswire.com/news-releases/sartorius-stedim-biotech-completes-acquisition-of-novaseps-chromatography-division-301476887.html
SOURCE Sartorius Stedim Biotech SA