Sartorius Stedim Biotech
Universal Registration Document
Including the Annual Financial Report
2023
“2023 was a year of transition in our industry. Destocking, relatively low production levels and muted investment activity at customers weighed on our business development and led to a decline in sales revenue. At the same time and supported by cost measures, our profitability remained at a healthy and above pre-pandemic level. As many customers are further advanced in optimizing their inventory levels, we have seen business picking up since the end of the third quarter and expect this trend to gradually gain traction over the course of the current year.”
“Strategically, the acquisition of transfection reagent specialist Polyplus and the respective expansion of our technology platform for cell and gene therapy applications were major milestones for our company in 2023. The portfolio will enable us to significantly contribute to our customers’ efforts to bring these highly innovative therapies to the market and to patients faster.”
Sales revenue
€2,775.5m
-18.7%
Underlying EBITDA
€785.4m
-35.7%
Order intake
€2,476.1m
-23.6%
Employees
10,662
-1,272
Market capitalization
~€22.1bn
-20.8%
Group Business Development
After the pandemic-related extraordinary business and inventory buildup by customers led to strong additional growth momentum in the years 2020 to 2022, the temporary normalization of demand expected by the company management set in during the reporting year.