An upturn in sales of single-use bioprocessing equipment drove revenues at the unit up by more than one-fifth year-on-year to €115m ($152m). Improvement at the bioprocessing unit helped Sartorius push group sales up by 21 per cent.
“In all divisions and regions, we are well on track. It is also encouraging that we have made such good headway in implementing our investment projects and growth initiatives”, Joachim Kreuzburg, CEO of Sartorius, said.
The improvement in bioprocess sales follows a ‘moderate’ quarter a year ago. Sartorius highlighted bags and filters as single-use bioprocessing components which underpinned the year-on-year gains.
Bioprocess earnings also grew by more than 20 per cent while outlook for the rest of the year was buoyed by a double-digit year-on-year increase in orders. Sartorius won €123m of new business in the quarter.
Europe continues to account for more than half of sales at Sartorius but fast growth in North America and Asia-Pacific means the France-based company’s reliance on its home market is lessening.
North America experienced the fastest growth, with revenues up by one-quarter, but Asia-Pacific sales also outstripped Europe by several percentage points. Asia-Pacific and North America both account for close to one-quarter of revenues, with the rest of world making up the rest.
Shares in Sartorius closed up more than four per cent on the day of the results.