Sartorius Stedim Biotech SA / Key word(s): Half Year Results
Half-year results 2025 of Sartorius Stedim Biotech
22-Jul-2025 / 07:00 CET/CEST

Aubagne, France | July 22, 2025

Half-year results 2025 of Sartorius Stedim Biotech

• Sales revenue at 1,490 million euros, up 9.4 percent in constant currencies1 (reported: 8.5 percent)
• As expected, very positive development in high-margin consumables business continues
• Underlying EBITDA1 increases overproportionately by 19.3 percent to 462 million euros, EBITDA margin reaches 31.0 percent
• Management confirms guidance for 2025

Sartorius Stedim Biotech, a leading partner to the biopharmaceutical industry, continued its strong performance during the first half of 2025 and recorded significant growth in both sales revenue and profitability.

“In the first six months of the year, our high-margin recurring business with consumables has continued to grow, as expected, also contributing to a substantially enhanced profitability. Driven by strong underlying customer demand for single-use solutions for bioprocessing, we have seen sales revenue increase across all regions,” said Dr. René Fáber, CEO of Sartorius Stedim Biotech. “Our innovative technologies enable customers to bring existing therapies to patients faster and at lower cost – while unlocking new treatment possibilities. Given the robust results of the first half of the year and the ongoing promising trends in the biopharma market, we remain confident in our outlook for the remainder of 2025.”

Business development1
In the first half of the fiscal year, Sartorius Stedim Biotech recorded an increase in sales revenue of 9.4 percent in constant currencies (reported: 8.5 percent) to 1.490 million euros. As expected, this growth was led by the high-margin recurring business with consumables, while the industry-wide reluctance of customers to invest continued to impact the equipment and systems business. All regions contributed to the positive development: The Americas region reported a substantial year-over-year gain of 11.0 percent in constant currencies, EMEA2 grew by 8.7 percent and sales revenue in the Asia/Pacific region was up 8.1 percent.

Underlying EBITDA rose even more significantly than sales revenue, increasing by a strong 19.3 percent to 462 million euros, mainly due to volume and product mix effects as well as economies of scale. The corresponding margin grew by 2.8 percentage points to 31.0 percent (PY 28.2 percent).

Underlying net profit increased by 38.3 percent to 228 million euros (PY 165 million euros) and net profit after non-controlling interest surged by 48.2 percent to 154 million euros (PY 104 million euros) in the first six months of the year. Underlying earnings per share rose to 2.34 euros (PY 1.71 euros) and earnings per share to 1.58 euros (PY 1.08 euros).

As of June 30, 2025, the company employed 10,030 people, slightly exceeding the number of employees at year-end 2024 (December 31, 2024: 9,901), mainly due to the hiring of additional production personnel.

In the first half of the year, the company expanded its product portfolio to enable customers to further enhance the productivity of their drug manufacturing processes. This included two modules of a platform for continuous manufacturing processes that were launched in collaboration with a major customer. Delivering significantly higher efficiency, the system is also designed to reduce the use of resources in biopharma production. In the field of filtration, a high-throughput filter – featuring a PFAS-free membrane – was introduced to the market. Developed for form and fill applications, the new filter helps to increase efficiency and reduce material waste, while supporting customers’ future-proof supply chain.

Key financial indicators
Sartorius Stedim Biotech’s balance sheet and key financial figures remain at very robust levels. Equity totaled 4,039 million euros as of June 30, 2025, with an equity ratio1 of 48.6 percent (December 31, 2024: 4,024 million euros and 48.7 percent, respectively).

Investments in the company’s global research and production infrastructure amounted to 141 million euros compared with 189 million euros in the prior year period. The ratio of capital expenditure to sales revenue was 9.5 percent (PY 13.8 percent).

Gross debt totaled 2,969 million euros, net debt 2,270 million euros (December 31, 2024: 2,869 million euros and 2,191 million euros, respectively). As planned, the ratio of net debt to underlying EBITDA1 was reduced further and stood at 2.7 (December 31, 2024: 2.8).

Guidance for fiscal 2025
Based on the first half-year results and the expected continued positive market development, management confirms its guidance for the full year and projects organic sales revenue growth of around 7 percent for fiscal 2025, at this point in time with a forecast range of around plus/minus two percentage points due to the continued above-average volatility. In terms of profitability, management anticipates an underlying EBITDA margin of around 30 to 31 percent compared with the prior-year figure of 28.0 percent.

The sales revenue and margin forecast does not include possible effects of tariffs or related mitigating and corrective measures, which, depending on their design, scope, and duration, could impact sales revenue and margin development temporarily to a certain extent. Management does not expect any influence on the strong market position and competitiveness of Sartorius Stedim Biotech.

The ratio of capital expenditure to sales revenue is expected to be around 13 percent (PY 12.2 percent), and the ratio of net debt to underlying EBITDA1 around 2.5 (PY 2.8).


1 Sartorius Stedim Biotech publishes alternative performance measures that are not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry.  

• Constant currencies: figures given in constant currencies eliminate the impact of changes in exchange rates by applying the same exchange rate for the current and the previous period. 
• Organic: organic growth figures exclude the impact from changes in exchange rates and changes in the scope of consolidation. 
• Underlying EBITDA: earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items  
• Underlying net profit: profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate
• Underlying earnings per share: underlying net profit in relation to the weighted-average number of shares outstanding
• Equity ratio: equity in relation to the balance sheet total 
• Ratio of net debt to underlying EBITDA: quotient of net debt and underlying EBITDA over the past 12 months, including the pro forma amount contributed by acquisitions for this period 

2 EMEA = Europe, Middle East, Africa 

This media release also contains forward-looking statements about 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 liability for updating such statements in light of new information or future events. Sartorius Stedim Biotech shall not assume any liability for the correctness of this release. The original French media release is the legally binding version. 

Forecasts have been prepared based on historical information and are consistent with accounting policies. All forecast figures are based on constant currencies, as in the past years. Management points out that the dynamics and volatilities in the industry have increased significantly in recent years. In addition, uncertainties due to the changed geopolitical situation, such as the emerging decoupling tendencies of various countries, are playing a greater role. This results in higher uncertainty when forecasting business figures. 


Conference call 
Dr. René Fáber, CEO of the Sartorius Stedim Biotech Group, will discuss the company’s half-year results with analysts and investors in a conference call at 1.00 p.m. CEST on July 22, 2025.
Register here: https://sar.to/H1_2025_IR_Conference


Financial calendar
October 16, 2025Publication of the nine-month results (January to September 2025)


Key Performance Indicators for the First Half of 2025

1 cc = constant currency: Figures given in constant currencies eliminate the impact of changes in exchange rates by applying the
same exchange rate for the current and the previous period.
2 According to customer location
3 Underlying EBITDA = earnings before interest, taxes, depreciation and amortization, and adjusted for extraordinary items
4 Relevant / underlying net profit = net profit after non-controlling interest; adjusted for extraordinary items and 
amortization, and based on a normalized financial result and normalized tax rate
5 After non-controlling interest
6 Cash flow from operating activities minus cash flow from investing activities


Reconciliation of alternative performance measures

Reconciliation

1 Financial result excluding fair value adjustments of hedging instruments and currency effects relating to financing activities and change in valuation of earn-out liability
2 Normalized income tax based on the underlying profit before taxes and amortization

A Profile of Sartorius StedimBiotech
Sartorius Stedim Biotech is a leading international partner to the biopharmaceutical industry. As a provider of innovative solutions, the company based in Aubagne, France, helps its customers to manufacture biotech medications, such as cell and gene therapies, more safely, rapidly, and sustainably. The shares of Sartorius Stedim Biotech S.A. are listed on the Euronext Paris. The company has a strong global reach with manufacturing and R&D sites as well as sales entities in Europe, North America, and Asia. Sartorius Stedim Biotech regularly expands its portfolio through acquisitions of complementary technologies. In 2024, the company generated sales revenue of around 2.8 billion euros. More than 9,900 employees work for customers around the globe.

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Contact
Leona Malorny
Head of External Communications
+49 551 308 4067
leona.malorny@sartorius.com

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