Sartorius (SRT) investor relations material

Executive summary

• 9M sales reached €2,737.2m, up 8.1% operationally excluding tariff compensation; underlying EBITDA rose 6.9% to €827.8m, with margin up 0.5pp to 30.2%.

• Free cash flow increased 55.2% to €310.0m and leverage improved to 3.33x; FY guidance was maintained for Group and BPS, while LPS margin expectations rose.

Financial highlights

• 9M revenue was €2,737.2m, up 8.1% operationally excluding customer tariff compensation, 6.9% in constant currencies including compensation, and 4.9% reported.

• Underlying net profit rose 6.7% to €259.8m; underlying EPS was €3.76 per ordinary share and €3.77 per preference share.

• Operating cash flow increased 9.9% to €561.6m; free cash flow rose 55.2% to €310.0m, supported by lower capex.

• Q3 sales rose 9.9% reported to €926.3m; underlying EBITDA increased 13.4% to €279.9m, with a 30.2% margin.

Outlook and guidance

• FY 2026 operational sales growth guidance remains 5%-9% for the Group and 6%-10% for BPS, with performance expected around the midpoint; LPS growth guidance is 4%-6%, now expected near the upper end.

• Underlying EBITDA margin expectations remain slightly above 30% for the Group and 32% for BPS; LPS guidance rose to slightly above 21%.

• Group capex ratio guidance was refined to ~12% from ~12.5%; year-end net debt to underlying EBITDA is expected to be slightly above 3x.

• Forecasts reflect elevated industry volatility and exclude potential further U.S. tariff changes; intended customer compensation could reduce Group revenue by up to €40m versus initial assumptions.