Results for 2007: Sartorius Achieves Targets in Both Divisions

  
    
  
  
    
      In 2007, the Sartorius Group (FWB:SRT) met its sales revenue and 
      earnings targets, which were adjusted in October 2007 essentially 
      because of the weakened dollar exchange rate. Despite the negative 
      exchange rate impact, the Group further increased its operating 
      profitability. Again, business with disposables for biotech applications 
      and the industrial weighing equipment sector were the key growth drivers 
      for sales and earnings.
    
    
      General Information about the Annual Financial Statements
    
    
      After already announcing the preliminary sales revenue figures on 
      February 13, 2008, we are now publishing the audited results that will 
      be submitted to the Supervisory Board on March 11, 2008, for approval of 
      the annual financial statements. To provide a complete and transparent 
      picture of the financial situation of the Sartorius Group, we report 
      sales revenue and profit on a pro forma basis as well as profit 
      additionally adjusted for non-operating and other non-permanent effects, 
      as already given in our earlier six- and nine-month reports. The pro 
      forma presentation means that our calculations include both companies 
      Stedim and Toha Plast, which we acquired in 2007, as of the outset of 
      2006 and exclude our hydrodynamic bearings business, sold last year, as 
      well as the profit from the sale of this business. The great majority of 
      the adjustments made relate to the Stedim transaction and integration as 
      well as to wider-ranging reorganization measures taken, especially in 
      the Biotechnology Division. Amortization relates exclusively to the 
      assignment of the purchase price to intangible assets acquired as 
      carried out in accordance with IFRS 3.
    
    
      Group Business Development
    
    
      For the Sartorius Group, we achieved an adjusted (underlying) EBITA of 
      71.1 million euros on a pro forma basis (2006: 67.2 mn euros), with 
      currency-adjusted sales revenue up 5.9 percent to 622.7 million euros. 
      The corresponding EBITA margin rose to 11.4 percent from 11.1 percent a 
      year ago and is thus within the target corridor of 11.0 to 11.5 percent 
      that we had forecasted. If this figure would have been calculated based 
      on the exchange rates of the previous years, we would have increased the 
      year-on-year profitability of the Group by one solid percentage point.
    
    
      Pro forma underlying EBITDA of the Sartorius Group was 95.1 million 
      euros, up from 89.5 million euros a year earlier. Pro forma underlying 
      annual net profit after minority interest and excluding non-cash 
      amortization was 30.4 million euros; the corresponding earnings per 
      share amounted to 1.78 euros.
    
    
      Business Development of the Biotechnology Division
    
    
      The Biotechnology Division achieved currency-adjusted sales growth of 
      5.6 percent, which equates to 375.9 million euros. In this context, the 
      growth momentum originally forecasted was not attained because of the 
      unfavorable exchange rate development and, in the second half of the 
      year, weakened demand from individual key biopharmaceutical customers in 
      North America. Adjusted pro forma underlying EBITA was 49.7 million 
      euros, up from 46.1 million euros a year ago. The corresponding EBITA 
      margin rose to 13.2 percent from 12.6 percent in 2006. As a result, we 
      achieved our target range of 13.0 to 13.5 percent that was adjusted in 
      October 2007. If this figure had been calculated based on the exchange 
      rates of the previous years, we would have increased the year-on-year 
      pro forma underlying EBITA margin by more than one solid percentage 
      point, especially due to economies of scale in our disposables business.
    
    
      Business Development of the Mechatronics Division
    
    
      The Mechatronics Division attained a pro forma underlying EBITA of 21.3 
      million euros (2006: 21.1 mn euros), with currency-adjusted sales 
      revenue up 6.4 percent to 246.8 million euros. The corresponding EBITA 
      margin was at 8.6 percent (2006: 8.9 percent) and thus reached the 
      target range of 8.5 to 9.0 percent that we had adjusted in October 2007. 
      Above all, the further improved profitability of our industrial weighing 
      business would have resulted in a year-on-year increase in our pro forma 
      underlying EBITA margin by approximately half of a percentage point, if 
      the previous years’ exchange rates had been 
      applied.
    
    
      Dividends
    
    
      On the basis of the results available, the Executive Board will submit a 
      proposal to the Supervisory Board at the meeting on March 11, 2008, to 
      raise dividends to 0.68 euro per preference share and 0.66 euro per 
      ordinary share (2006: 0.64 euro prf. and 0.62 euro ord., resp.).
    
    
      Balance Sheet
    
    
      Even after the Stedim transaction, the Sartorius Group reports very 
      robust key figures on the balance sheet. Thus, the equity ratio of the 
      Sartorius Group is at 42.6 percent (previous year: 44.8 percent) and the 
      ratio of net debt to pro forma underlying EBITDA was 2.0 (previous year: 
      0.6).
    
    
      Assessment and Outlook
    
    
      CEO and Executive Board Chairman Dr. Joachim Kreuzburg said that he was 
      satisfied with the company’s performance: “For 
      the Sartorius Group, 2007 was an exceptionally intense and successful 
      year. We reached our targets in most of the business areas of our Group, 
      and continued to post overall gains in sales revenue and profitability 
      in a difficult currency environment. Even more important, we have 
      implemented an extensive number of strategic projects: in particular, we 
      reorganized our global Group structures, acquired Stedim and Toha Plast, 
      sold our hydrodynamic bearing business, initiated reorganization 
      measures in the USA and carried out global infrastructure projects. By 
      spearheading these projects, we have strengthened our basis for the 
      long-term positive development of the Group."
    
    
      For fiscal 2008, we are targeting an increase in sales revenue by more 
      than 9 percent in constant currencies, relative to the pro forma sales 
      revenue posted for fiscal 2007. In this context, we expect that our 
      businesses with disposables and industrial weighing equipment will 
      generate the strongest growth momentum. Based on this sales forecast on 
      an average USD/EUR exchange rate of 1.40, we anticipate that the Group 
      EBITA margin will rise to about 12 percent.
    
    
      
        
          € in millions(unless otherwise 
          specified)
        
        
           
        
        
          Group
        
        
           
        
        
          Biotechnology
        
        
           
        
        
          Mechatronics
        
      
      
        
           
        
        
        
        
          2007
        
        
           
        
        
          2006
        
        
           
        
        
          Change
        
        
        
        
          2007
        
        
           
        
        
          2006
        
        
           
        
        
          Change
        
        
        
        
          2007
        
        
           
        
        
          2006
        
        
           
        
        
          Change
        
      
      
        
          Sales revenue (pro forma)
        
        
        
        
          622.7
        
        
        
        
          602.6
        
        
        
        
          3.,3%
        
        
        
        
          375.9
        
        
        
        
          365.5
        
        
        
        
          2.8%
        
        
        
        
          246.8
        
        
        
        
          237.1
        
        
        
        
          4.1%
        
      
      
        
          Sales revenue (actual)
        
        
        
        
          589.0
        
        
        
        
          521.1
        
        
        
        
          13.0%
        
        
        
        
          329.8
        
        
        
        
          271.0
        
        
        
        
          21.7%
        
        
        
        
          259.2
        
        
        
        
          250.0
        
        
        
        
          3.7%
        
      
      
        
          Pro forma underlying EBITA
        
        
        
        
          71.1
        
        
        
        
          67.2
        
        
        
        
          5.8%
        
        
        
        
          49.7
        
        
        
        
          46.1
        
        
        
        
          7.8%
        
        
        
        
          21.3
        
        
        
        
          21.1
        
        
        
        
          1.3%
        
      
      
        
          EBITA (actual)
        
        
        
        
          59.2
        
        
        
        
          52.1
        
        
        
        
          13.7%
        
        
        
        
          26.0
        
        
        
        
          31.8
        
        
        
        
          -18.3%
        
        
        
        
          33.2
        
        
        
        
          20.2
        
        
        
        
          63.9%
        
      
      
        
          
            Pro forma underlyingnet profit (1)(2)
          
        
        
        
        
          30.4
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          Net profit (actual)
        
        
        
        
          30.1
        
        
        
        
          29.0
        
        
        
        
          3.8%
        
      
      
        
          
            Pro forma underlyingearnings per share (2) 
            in €
          
        
        
        
        
          1.78
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          Earnings per share (actual) in €
        
        
        
        
          1.77
        
        
        
        
          1.70
        
        
        
        
          3.8%
        
      
    
    
      (1) After minority interest
    
    
      (2) Excluding non-cash amortization
    
    
      Conference Call and Webcast:
    
    
      Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius, 
      will provide information on the results to analysts and investors today, 
      March 4, 2008, at 3:00 pm Central European Time (CET) in a telephone 
      conference. You may dial into the telephone conference starting at 2:45 
      pm CET at the following numbers:
    
    
      Germany: [phone];
    
    
      France: [phone];
    
    
      UK: [phone];
    
    
      USA: [phone].
    
    
      The dial-in code is 6360347;
    
    
      you can access the webcast at www.sartorius.com 
      or http://www.livemeeting.com/cc/premconfeurope/join?id=6360347&role 
      =attend&pw=pw3216
    
    
      Current image files:
    
    
      Company headquarters in Goettingen, Germany:
    
    
      www.sartorius.com/media/content/press/support/Sartorius_Plant.jpg
    
    
      Sartorius Stedim Biotech:
    
    
      www.sartorius-stedim.com/media/content/press/support/ 
      Fluid_Management.jpg
    
    
      Sartorius Mechatronics:
    
    
      www.sartorius.com/media/content/press/support/Moisture.jpg
    
    
      Upcoming financial dates:
    
    
      
        
          March 13, 2008
        
        
           
        
        
          Annual press confernece in Goettingen, Germany
        
      
      
        
          April 23, 2008
        
        
        
        
          Annual Shareholders' Meeting in Goettingen, Germany
        
      
    
    
      A profile of Sartorius
    
    
      The Sartorius Group is an internationally leading laboratory and process 
      technology provider covering the segments of biotechnology and 
      mechatronics. In 2006, the technology group earned sales revenue of 
      622.7 million euros. Founded in 1870, the Goettingen-based company 
      currently employs approximately 4,500 persons. The major areas of 
      activity in its biotechnology segment focus on fermentation, filtration, 
      purification, fluid management and laboratory applications. In the 
      mechatronics segment, the company primarily manufactures equipment and 
      systems featuring weighing, measurement and automation technology for 
      laboratory and industrial applications. Key Sartorius customers are from 
      the pharmaceutical, chemical and food and beverage industries and 
      from numerous research and educational institutes of the public sector. 
      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.
    
    
      Sartorius Corporate Administration GmbH, 37070 Goettingen, Germany
    
    
      http://www.sartorius.com
    
    
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