Sartorius Stedim Biotech Shares

Facts about the Share1)

ISIN FR0013154002
Liquidity provider Gilbert Dupont
Stock exchange Euronext Paris
Market segment Local Securities – Compartment A (Large Caps)
Indexes SBF 120; CAC All-Tradable; CAC All SHARES; CAC MID & SMALL 190;
CAC HEALTHCARE; STOXX Europe 600; MSCI France
Number of shares 92,180,190
thereof Sartorius AG
74.3%
thereof free float
25.7%
Voting rights 161,024,614
thereof Sartorius AG
85.0%
thereof free float
15.0%

1) As of December 31, 2018

Persistent and High Volatility in Stock Markets

Gains and relatively steady growth among the international stock exchanges marked the year 2017. In contrast, the year under review was characterized by substantial fluctuations and falling share prices. Political uncertainties, international trade conflicts and the interest-rate reversal in the United States caused high volatility that also affected the leading French stock index. The CAC 40 reached an all-time high of more than 5,600 points in May 2018, then fell considerably, finishing the 2018 stock-market year down 11.0% at 4,730 points. The SBF 120, home to Sartorius Stedim Biotech shares, declined 11.7%. The index relevant to the biotech industry, NASDAQ Biotechnology, registered a drop of 9.3%.

Sartorius Shares Rise Substantially

The Sartorius Stedim Biotech share price developed positively in spite of the volatile stock exchanges. Contributing factors included the announcement of medium-term financial targets for 2025 and better-than-expected business performance halfway through 2018. In the first half of the year the share recorded significant gains and reached an all-time high of €119.80 on October 02, 2018. In the following months the share lost in value, but finished the 2018 stock-market year at a closing price of €87.35 – up 44.9% year on year.

Sartorius Stedim Biotech Share in €1)

January 1, 2014, to December 31, 2018

1) January 1, 2014, to May 9, 2017, adjusted for stock split

Sartorius Stedim Biotech Share1) in Comparison to the SBF 120, CAC MID & SMALL and NASDAQ Biotechnology Index (indexed)

January 1, 2018, to December 31, 2018

Investor Relations Activities

Sartorius Stedim Biotechs’ investor relations activities follow the objective of making the current and future development of the company transparent for its stakeholders. To achieve this objective, Sartorius maintains an ongoing, open dialog with shareholders, potential investors and financial analysts.

Besides providing quarterly, first-half and annual reports, we inform the capital market and the interested public at quarterly teleconferences and in regularly published press releases about the current development of our business and other material events at the company. Moreover, Group management and our IR team were present for talks and factory tours with capital-market participants at our sites in Aubagne, France, and in Göttingen, Germany. Management and IR specialists also took part at conferences and roadshows in various financial centers. In February 2018, we hosted a capital market day, with a focus on discussing our medium-term financial targets for 2025.

All information and publications relating to our company and its shares may be found on our website at www.sartorius-stedim.com.

Analysts

The recommendations of financial analysts serve as a foundation for the decisions of private and institutional investors when investing in shares. Currently, seven institutions regularly prepare reports and updates on Sartorius Stedim Biotech shares.

Research Coverage

Date Company Recommendation Target price in €
January 30, 2019 AlphaValue Sell 88.40
January 30, 2019 Société Générale Hold 105.00
January 30, 2019 Janney Hold 121.00
January 29, 2019 Oddo BHF Hold 90.00
January 24, 2019 New Street Research Buy 100.00
October 23, 2018 Gilbert Dupont Sell 107.00
August 07, 2018 UBS Buy 115.00

Key Figures for Sartorius Stedim Biotech Share1)

2018 2017 2016 2015 2014
Share price2) in € Reporting date 87.35 60.29 59.97 58.90 26.88
High 119.80 72.49 68.84 59.67 28.61
Low 60.35 51.50 51.17 26.89 19.50
Dividends3) in € 0.57 0.46 0.42 0.33 0.22
Total dividends paid3)
in millions of €
52.5 42.4 38.7 30.7 20.0
Payout ratio3,4) in % 24.0 23.5 21.9 22.1 22.9
Dividend yield5) in % 0.7 0.8 0.7 0.6 0.8
Market capitalization
in millions of €
8,051.9 5,557.5 5,528.0 5,430.8 2,477.4
Average daily trading number
of shares
80,140 52,753 46,752 44,115 42,084
Trading volume of shares
in millions of €
1,874.9 818.2 714.2 485.2 243.8
CAC MID & SMALL
(closing prices of the year)
11,337 14,456 11,848 11,054 9,354
SBF 120
(closing prices of the year)
3,756 4,251 3,836 3,664 3,360

1) For 2014 to 2015, share prices, dividends and average daily trading number of shares adjusted for stock split; rounded values

2) Daily closing price

3) For 2018, amounts suggested by the Board of Directors and subject to approval by the Annual General Shareholders' Meeting

4) Based on the underlying net result

5) Dividends in relation to the corresponding closing prices of the year

Sources: Euronext; Bloomberg

Dividends

Sartorius Stedim Biotech strives to enable its shareholders to participate adequately in the company’s success and has continuously increased its dividend in recent years. In line with this objective, we basically follow the policy of paying out a relatively stable share of relevant net profit to our shareholders.

Relevant net profit

The Board of Directors will submit a proposal to the Annual General Shareholders' Meeting on March 26, 2019, to pay a dividend from the underlying net profit of €219.3 million for fiscal 2018 of €0.57 per share compared to previous year’s figure of €0.46 If approved, the dividend would increase for the ninth consecutive year and the total profit distributed would rise by a considerable 23.9%, from €42.4 million last year to €52.5 million. The corresponding dividend payout ratio would be 24.0% compared to 23.5% in the previous year. In relation to the shares' closing price of €87.35 on December 31, 2018, the dividend yield would be 0.7% (previous year: 0.8%).

Shareholder Structure

As a consequence of the stock split and the increase of the individual par value of the company's shares, Stedim Biotech S.A.’s issued capital amounted to €18.4 million as of December 31, 2018, and was divided into 92,180,190 shares, each with a calculated par value of €0.20. As some of the shares convey double voting rights, there were a total of 161,024,614 voting rights as of the reporting date.

As of December 31, 2018, Sartorius AG holds 74.3% of the share capital and 85.0% of the outstanding voting rights. The remaining 25.7% of the shares are in free float; corresponding to 15.0% of the outstanding voting rights.