Sales growth was up 15% in constant currencies, according to preliminary figures, Sartorius said. In October, Sartorius forecast 2022 consolidated revenue growth to be in the lower half of the range of around 15% to 19%.
“While growth in the Lab division was even slightly stronger than forecast, the Bioprocess division was influenced by the expected normalization of demand, a process that is expected to continue for several quarters,” said CEO Joachim Kreuzberg.
The Bioprocess Solutions division, which supplies substances and equipment to biopharmaceutical companies, saw an increase of 15.9%. However, incoming orders fell by more than 10% in the division that was particularly affected by the pandemic.
For 2023, the company expects sales revenue growth in the low single-digit percentage range; excluding business related to COVID-19, the increase would be in the high single digit range.
Citing inflation adjustments, the company slightly raised its medium-term sales revenue target on Thursday and now expects it to hit around 5.5 billion euros ($6.01 billion) in 2025. , from 5 billion euros previously.
($1 = 0.9156 euro)
(Writing by Miranda Murray; Editing by Paul Carrel)
