Sartorius has increased its 2025 target to €5 billion given robust financial results achieved in its Bioprocess Solutions (BPS) Division in 2020.
Sartorius reported its Q4 2020 financials this week, revealing that total sales revenues rose to €2.3 billion ($2.8 billion) a 30% increase compared to 2019. The firm also told shareholders its order intake is up around 49% to 2.83 billion.
The firm said its BPS division has experienced sharp rises in revenue and earnings, aided by its role of providing technologies for COVID-19 vaccine production.
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However, M&A activity also had an impact on revenues, CFO Rainer Lehmann told investors on a conference call : “Acquisitions basically contributed around 11 percentage points” to the 49% order intake increase, he said, adding that pandemic related orders accounted for “around 14 percentage points.”
The majority of the growth from M&A came from the addition of assets from Danaher last May, he said.
The $750 million deal raw Sartorius purchase various assets from its rival vendor to help facilitate Danaher Corporation’s merger with GE Healthcare. The deal included biomolecular characterization business FortéBio and a portfolio of chromatography hardware and resins.
Looking ahead, M&A has allowed the firm to raise its guidance with Sartorius upping its consolidated sales revenue from €4 billion to €5 billion by 2025.
Sartorius said it also expects to see its sales revenue increase in 2021 by around 19% to 25% with acquisitions contributing 5.5 percentage points to this growth.
Last month, we reported on the potential acquisition of Novasep’s chromatography division. And in the fourth quarter last year, Sartorius added filtration firms WaterSep and BIA Separations for $36 million and $423 million, respectively.
Other bioprocess companies have also reported robust 2020 financial reports. Danaher reported net sales of $22.3 billion last week, a 24.5% increase on the previous year.
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