Sartorius Corporation Reviews Fiscal 2008
GOETTINGEN, Germany--(BUSINESS WIRE)--Despite the difficult market environment, Sartorius posted slight gains in growth for both Group divisions and robust earnings. “Given the unexpectedly adverse economic conditions, we performed well. Amid this situation, we could not reach our ambitious financial targets for 2008. Yet we still achieved the third best profitability result in our company’s history," commented CEO Dr. Joachim Kreuzburg on the yearly results for 2008 at the annual press conference in Goettingen, Germany. Referring to the exceptional uncertainty that still surrounds the economic climate, Dr. Kreuzburg did not provide any specific forecast of the financial results for 2009. “It is already foreseeable that the global economic crisis will have a significantly negative impact on our Mechatronics business in the current year, so we have to expect that sales revenue and earnings for this sector will decline," said Dr. Kreuzburg. By contrast, the Biotechnology Division as a supplier to the biopharmaceutical industry is comparably less affected by general cyclical trends. “We are targeting sales and profitability growth for the Biotechnology Division.“ The mid- and long-term business prospects for both divisions continue to remain excellent, as Kreuzburg further stated. In addition to focusing on systematic cost management, in 2009 we will be launching a large number of innovative products that truly add value for our customers."