Sartorius Group
Annual Report
2023
“2023 was a very unusual and challenging year for our industry. Customer destocking and other factors such as very weak demand in China had a longer and more pronounced impact on the business than initially anticipated. We therefore ended the year with a decline in sales revenue, while profitability remained at a healthy level and above the pre-pandemic mark due to an adjusted cost base. Many customers are further advanced in optimizing their inventories. Business has thus picked up since the third quarter, and we expect this trend to gradually intensify in the course of 2024.”
Sales revenue
€3,395.7m
in constant FX: -16.6%
Underlying EBITDA
€962.7m
-31.7%
Order intake
€3,066.9m
in constant FX: -21.5%
Employees
14,614
-1,328
Market capitalization
~€20.5bn
-15.0%
Group Business Development and Divisions
After the pandemic-related extraordinary business and inventory buildup by customers led to strong additional growth momentum in the years 2020 to 2022, particularly in the Bioprocess Solutions division and to a lesser extent in the laboratory business, the temporary normalization of demand expected by the company management set in during the reporting year.
Bioprocess Solutions
In the Bioprocess Solutions Division, Sartorius offers a broad product portfolio that covers all steps in the production of a biopharmaceutical. The company has held leading market positions for years in its core technologies, such as filtration, fermentation, cell cultivation and fluid management.
Lab Products & Services
The Lab Products & Services Division offers laboratories in the pharmaceutical and biopharmaceutical industries as well as at academic research institutes innovative solutions for bioanalytics, in addition to premium laboratory products, consumables and services. Sartorius is among the market leaders in laboratory balances, pipettes and lab consumables.