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    DIM   FR0013154002

SARTORIUS STEDIM BIOTECH

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Sartorius Stedim Biotech : significantly expands activities in South Korea

11/25/2021 | 05:00am EST

Press Release

Göttingen, November 25, 2021

Sartorius significantly expands activities in South Korea

The life science company Sartorius is investing around 270 million euros, some 300 million U.S. dollars, through the end of 2024 in expanding its activities in South Korea. In the country's biopharma hub Songdo in Incheon, the company plans to launch cell culture media production and to assemble sterile systems for efficient and flexible manufacturing of biopharmaceuticals, among other operations. This investment responds to the dynamic development of the South Korean market as well as of further Asian markets.

"The development of the biopharmaceutical industry in Asia and, in particular, South Korea, has entered a new phase characterized by a high innovation and investment pace on the part of our customers. With our significant investments in Songdo, we will be increasing capacities, moving production operations closer to our customers in the region and substantially accelerating our delivery speed," said Sartorius Executive Board Chairman and CEO Joachim Kreuzburg on Thursday in South Korea after meeting with ministers of the country's government.

Construction of the company's facilities on the property site covering some 25,000 square meters, or close to 270,000 square feet, will include an application center with laboratories as well as several buildings for manufacturing and logistics. In total, new jobs for approximately 750 people will be created there. In addition, Sartorius' existing activities for service as well as marketing and sales will relocate to the new site under development, which offers space for further extensions. Construction work at the site is slated to begin in the coming year, and production operations are scheduled to start by the end of 2024.

Sartorius has been operating a sales and service office in South Korea for more than 30 years. Currently, more than 180 people work at this location for Sartorius.

A profile of Sartorius

The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group's Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2020, the company earned sales revenue of some 2.34 billion euros. At the end of 2020, nearly 11,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe. Follow Sartorius on Twitterand on LinkedIn.

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Contact

Timo Lindemann

Press Spokesman

+49 (0)551.308.4724 timo.lindemann@sartorius.comwww.sartorius.com

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Disclaimer

Sartorius Stedim Biotech SA published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 09:59:03 UTC.


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Sales 2021 2 874 M 3 259 M 3 259 M
Net income 2021 595 M 675 M 675 M
Net Debt 2021 538 M 610 M 610 M
P/E ratio 2021 57,0x
Yield 2021 0,38%
Capitalization 33 563 M 38 032 M 38 055 M
EV / Sales 2021 11,9x
EV / Sales 2022 10,2x
Nbr of Employees 9 619
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 364,10 €
Average target price 471,11 €
Spread / Average Target 29,4%
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Managers and Directors
Joachim Kreuzburg Chairman & Chief Executive Officer
Oscar-Werner Reif Executive VP-Research & Development
Henri Riey Independent Non-Executive Director
Anne-Marie Graffin Independent Non-Executive Director
Susan Dexter Independent Non-Executive Director
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