Sartorius Stedim Biotech (DIM) Q3 2026 earnings summary

Executive summary

• 9M revenue was €2,289.2m; operational growth was 7.8% in constant currencies excluding tariff compensation and 6.5% including it.

• Recurring consumables remained the main growth driver; bioprocess equipment continued its positive trend, with growth across all regions.

• Operating and free cash flow increased, while net leverage declined, supporting confidence in FY 2026 guidance.

Financial highlights

• Underlying EBITDA rose 4.8% to €716m; underlying EBITDA margin increased to 31.3% from 31.1%.

• Underlying net profit increased 9.4% to €349.6m; reported net profit rose 26.7% to €276.6m.

• Q3 revenue was €762.1m, up 7.4% in constant currencies; underlying EBITDA increased 7.2% to €237.1m.

Outlook and guidance

• FY 2026 constant-currency revenue growth guidance remains 6%–10%; operational growth excluding tariff effects is expected near the midpoint, while growth including compensation is expected in the lower half.

• Underlying EBITDA margin is forecast slightly above 31%; net debt to underlying EBITDA is expected to be slightly above 2x.

• CapEx-to-revenue guidance was refined to ~13%, below the prior-year 13.3%.

• Customer tariff compensation could reduce revenue by up to €35m versus initial assumptions; refund applications totaled ~€35m, with €28m received by September.