Sartorius (SRT) Investor Presentation summary

Strategic focus and market positioning

• Focuses on bioprocess solutions and lab products, targeting biopharma and life science markets with ~€3.4bn sales revenue and a 28% EBITDA margin in 2024.

• Maintains a high share of recurring revenues (~75%) and a resilient global setup with significant investments in capacity and R&D.

• Pursues growth through M&A, innovation, and integration of advanced technologies, including AI and automation.

• Addresses all biopharma drug modalities, with strong exposure to cell and gene therapies, which represent over 10% of BPS sales.

• Committed to sustainability and reduction of CO2 emission intensity as part of midterm targets.

Financial performance and guidance

• Achieved 9M 2025 sales revenue of €2,611m (+7.5% cc), with underlying EBITDA up 12.8% and margin rising to 29.7%.

• Net profit increased 17% to €244m (underlying), with reported net profit up 66% to €125m; free cash flow at €200m.

• Deleveraging continues as planned, with net debt/EBITDA at 3.71x and a strong investment grade rating (BBB-, stable).

• FY 2025 guidance: group sales growth ~7%, EBITDA margin slightly above 29.5%; BPS sales growth ~9%, LPS ~flat.

• Capex ratio expected at ~12.5%, with net debt/EBITDA to decrease to ~3.5x by year-end.

Divisional highlights

• Bioprocess Solutions (BPS): €2.7bn sales, 29.3% EBITDA margin, ~80% recurring revenue, robust growth in high-margin consumables.

• BPS outperformed with 9M 2025 sales up 7.8% and EBITDA margin at 31.5%, driven by recurring business and economies of scale.

• Lab Products & Services (LPS): €691m sales, 22.9% EBITDA margin, 50% recurring revenue, portfolio includes lab instruments, consumables, and software.

• LPS saw resilient performance despite a challenging environment, with recurring business growth and MATTEK acquisition contributing to results.

• BioAnalytics portfolio increasingly synergetic with BPS, leveraging automation, AI, and data analytics to accelerate drug development.