Earnings release
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1 | 13 Earnings Release Göttingen, Germany | October 22, 2026 Sartorius continues its positive growth and margin trajectory with strong nine-month performance Growth across both divisions: Lab and bioprocess divisions contribute almost equally to strong sales increase Operational Group sales revenue excluding U.S. tariff compensation to customers grows by 8.1 percent in constant currencies Underlying EBITDA1 margin up 0.5 percentage points to 30.2 percent Management confirms and partially refines full-year guidance for 2026 The life science group Sartorius sust ained its positive busine ss trajectory in the first nine months of 2026 and delivered robust growth in sales revenue and profitability. The company also significantly improved its cash flow generation and further reduced its leverage. “Our business continued to develop positively in the first nine months of 2026. The recurring business with consumables remained an important growth driver, while demand for bioprocess equipment and instruments continued to recover. Building on the tr action gained in recent quarters and supported particularly by its bioanalytics portfolio, the lab division continued its positive traje ctory and showed substantial sales growth. This clearl y reinforces our confidence in t he full-year guidance for 2026,” said Sartorius CEO Dr. Michael Grosse. “Overall, end markets remain fundame ntally healthy, and customer activity continues to be robust. The momentum we are seeing in our lab business is particularly encouraging: Research and drug development activities remain strong, increasingly supporte d by AI- driven workflows, and customer pipeline s are healthy. Today, we are already benefiting from our strong position in the life science research market, and as new molecule s progress through developme nt, this will translate into future opportunities for our bioprocessing business.” Business development of the Group1 In the first nine months of the fiscal year, Sartorius Group ge nerated sales revenue of 2,737 million euros, with operational sales revenue growing by 8.1 percent in constant currencies compared with the prior-year period. The recurring business with consumables remained the main driver of this development across both divisions. In addition, the non-recu rring business with bioprocess equi pment and laboratory instrume nts contributed to growth. MATTEK, the microtissue specialist acqu ired in July 2025, contribute d 0.3 percentage points to the Group’s sales revenue growth. The business results reported for the first nine months of the year continued to be impacted by a non-operational effect: In the third quarter, the company received further tariff re funds for levies invalidated by the U.S. Supreme Court. As Sartorius compens ates customers for corresponding tariff
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2 | 13 surcharges previously paid, the related amounts are re cognized as reductions in cost of sales and sales revenue. Including the impact from tariff compensation to customers, which amounts to around 31 million euros after the first nine months of 2026, sales re venue grew by 6.9 percent in constant currencies (reported: 4.9 percent). All regions contributed to the positive business pe rformance: The EMEA region recorded a 6.4 percent gain in constant currencies compared with the pr ior-year period, achieving 1,155 million euros in sales revenue. The Americas region, which continued to be impacted by U.S. tariff compensation to customers, generated sales revenue of 938 million euros. Excluding the tariff compensation effect, growth amounted to 8.4 percent in constant currencies; including this effect, the increase was 4.9 percent in constant currencies. The Asia/Pacific region gr ew significantly by 11 percent in constant currencies to 644 million euros, with China contributing positively to regional performance. The Group’s underlying EBITDA rose by 6.9 percent to 828 million euros in the first nine months of 2026 with the corresponding margin increasing by 0.5 perc entage points to 30.2 percent (PY: 29.7 percent). Positive volume development and economies of scale more than offset product mix effects as well as investments in growth initiatives. On a net basis, tariff surcharges and the related customer compensation balanced each other out and had no impact on profitability. Underlying net profit increased by 6.7 percent to 260 million euro s (PY: 244 million euros). Underlying earnings per ordinary share were 3.76 euros (PY: 3.52 euros) and underlying earnings per preference share stood at 3.77 euros (PY: 3.53 euros). The number of employees at Sartorius Group grew in all regions in the first nine months of the year, primarily due to the hiring of additional producti on personnel. As of Septem ber 30, 2026, the company employed 14,273 people (December 31, 2025: 14,042). Key financial indicators Sartorius Group’s balance sheet and key financial indicators improved from robust levels. As of September 30, 2026, the equity ratio increased to 42.8 percent (December 31, 2025: 39.8 percent). As planned, the leverage ratio of net debt to unde rlying EBITDA was further reduced and reached 3.33 (December 31, 2025: 3.55). Cash flow from operating activities increased by 9.9 percent to 562 million euros in the first nine months of the current fiscal year (PY: 511 million euros). Key drivers were the positive earnings development and tariff refunds received. Investments in the company’s global research and production infrastructure amounted to 262 million euros in the first nine months of 2026 (PY: 305 million euros). The ratio of capital expenditure to sales revenue stood at 9.6 percent (PY: 11.7 percent). Based on the positive trend in operating cash flow and the lower investment volume, free cash flow increased disproportionate ly by 55.2 percent to 310 million euros (PY: 200 million euros). Business development of the Bioprocess Solutions Division The Bioprocess Solutions Division, which accounts for around 80 percent of Group sales revenue and offers a wide range of innovative technologies for the more efficient and sustainable manufacture of biopharmaceuticals, maintained its profitable growth path in the first nine months of 2026. Sales revenue increased to 2,213 million euros. Excluding the effect from tariff compensation to customers, operational sales revenue growth amounted to 8.1 percent in constant currencies compared with the prior-year period. Including this effect, sales revenue grew by 6.8 percent in constant currencies (reported: 4.6 percent).
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3 | 13 The division’s underlying EBITDA increased by 7.1 percent to 714 million euros, with the corresponding margin amounting to 32.3 percent (PY: 31.5 percent). Positive volume effects and economies of scale more than offset dampening product mix effects. On a net basis, tariff surcharges and the related customer compensation balanced each other out and had no impact on profitability. The Bioprocess Solutions Division introduced several new products in two strategic areas. A single-use bioreactor bag with an improved sparger for better oxygen transfer enables more efficient process intensification in upstream, thereby facilitating adoption of single-use processes in commercial production by helping customers produce higher output from smaller bioreactor volumes. In advanced therapies, the company added ready-to-use cytokines in closed sterile bags and a new animal-component-free cell culture medium to the portfolio. Business development of the Lab Products & Services Division Lab Products & Services, which focuses on life science research and biopharmaceutical laboratories, grew substantially in the first nine months of 2026. Grow th was supported by the recurring consumables and services business as well as by instruments, particular ly within the bioanalytics portfolio. In the reporting period, the division’s sales revenue increased to 524 million euros, also reflecting some positive effects from pulled-in projects in the third quarter. Excluding th e effect from tariff compensation to customers, sales revenue growth amounted to 8.3 perc ent in constant currencies. Includ ing this effect, sales revenue was up 7.5 percent in constant currencies (reported: 5.9 percent). MATTEK, the microtissue specialist acquired in July 2025, contributed 1.9 percentage points to the division’s sales revenue growth. The division’s underlying EBITDA grew by 5.6 perc ent to 114 million euros, compared with 108 million euros in the same period of the previous year. Desp ite continued investments in growth init iatives, the corresponding margin reached the prior-year’s level of 21.7 percent, supported by positive volume effects and economies of scale. On a net basis, tariff surcharges and the related customer compensation balanced each other out and had no impact on profitability. The Lab Products & Services Division continued to expand its bioanalytics offering, strengthening its position in increasingly AI-driven drug discovery workflows. Another step in this direction is the enhancement of the established Incucyte live-cell analysis platform with an AI-powered software module that helps researchers to automatica lly monitor the quality of stem cells, allowing label-free analysis and generating quicker results. In addition, the division introduced a new biosensor for the Octet platform, enabling scientists to measure high antibody levels with less sample preparation and make faster decisions across bioprocessing workflows. Guidance for fiscal year 2026 confirmed and partially refined Based on the business performance in the first nine months of 2026 and the continued positive development of the relevant end markets, management confirms its full-year guidance for the Group and the Bioprocess Solutions Division. At the same ti me, management refines the guidance for the Lab Products & Services Division and the expected ratio of capital expenditure to sales revenue. Management continues to expect operational sales revenue growth in constant currencies, excluding tariff effects, to be around the midpoint of the respecti ve guidance bandwidths of 5 to 9 percent for the Sartorius Group and 6 to 10 percent for Bioprocess Solutions, while growth in Lab Products & Services is now expected to be around the upper end of its 4 to 6 percent range (previously: upper half). These ranges
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4 | 13 include a growth contribution from the MATTEK acquis ition of approximately 0.3 percentage points at Group level and approximately 1.5 percentage points in Lab Products & Services. Including the effects from the ch anged tariff environment and the in tended customer compensation for unlawfully imposed U.S. tariffs, which could reduce Group revenue by up to 40 million euros compared with initial assumptions, sales revenue growth in constant curr encies is expected to be in the lower half of the guidance range for the Group. Bioprocess Solutions is also expected to be in the lower half of its guidance range, while Lab Products & Services is expected to land around the upper end. With regard to profitability, management continues to project the Group’s underlying EBITDA margin to increase to slightly above 30 percen t, the margin of the Bioprocess Solutions Division to grow slightly above 32 percent and the margin of the Lab Products & Services Division to be slightly above 21 percent (previously: slightly below 21 percent). The ratio of capital expenditure to sales revenue is now expected to be around 12 percent and thus slightly below the previously expected prior-year level of 12.5 percent. The ratio of net debt to underlying EBITDA should decrease to slightly above 3 (PY: 3.55). As in previous years, all forecast figures are based on constant currencies. Management notes that industry dynamics and volatility have increased significantly in recent years. In addition, uncertainties resulting from the changed geopolitical environment and related tariff measures continue to play an important role. Consequently, forecasting business performance continues to be subject to a high degree of uncertainty. New Executive Board responsibilities and reporting structure from 2027 As outlined at the Capital Markets Day in March, Sartorius is continuing to advance the implementation of its updated strategy. To further strengthen its focu s on product innovation, customer centricity and operational excellence under its One Sartorius approa ch, the company has adapted its operating model. Reflecting this new setup, respons ibilities within the Executive Boar d will change from January 1, 2027: Dr. Alexandra Gatzemeyer will assume the role of Chief Commercial Officer, with responsibility for Account Management, Marketing, and Customer and Technical Services across the Group, while Dr. René Fáber, as Chief Product Officer, will be responsible for Research and Development, Product Management, Technical Sales and Manufacturing. In this context, we are also adjusting our external reporting to align it more closely with the company’s corporate structure and reduce reporting complexity. Effective January 1, 2027, the current Bioprocess Solutions and Lab Products & Services divisions will be replaced by the segments Bioprocessing Solutions and Research Solutions. Bioprocessing Solutions, which provides technologies for biopharmaceutical manufacturing, will exactly mirror Sartorius Stedim Biotech. The Research Solutions segment will fully focus on innovative lab instruments and consumables for rese arch and quality assurance laboratories and will comprise the Group’s businesses outside Sartorius Stedim Biotech.
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5 | 13 1 Sartorius publishes alternative performance measures that ar e not defined by international accounting standards. These are determined with the aim of improving the comparability of business performance over time and within the industry. Underlying EBITDA: earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items Underlying net profit: profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate Underlying earnings per share: underlying net profit in relation to the weighted-average number of outstanding ordinary or preference shares Ratio of net debt to underlying EBITDA: quotient of net de bt and underlying EBITDA over the past 12 months, including the pro forma amount contributed by acquisitions for this period 2 EMEA = Europe, Middle East, Africa This media release contains forward-looki ng statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius a ssumes no liability for updating such statements in light of new information or future events. This is a translation of the orig inal German-language media release. Sartorius shall not assume a ny liability for the correctness of this translation. The original German media release is the legally binding version. Conference Call for investors CEO Dr. Michael Grosse and CFO Dr. Florian Funck will discuss the company’s nine-month results in a conference call for investors on October 22, 2026, at 1:00 p.m. CEST. Register here: https://sar.to/9M_2026_IR_Call Financial calendar February 23, 2027 – Full-year figures 2026 and 2026 Annual Report April 15, 2027 – Annual General Meeting April 22, 2027 – Q1 quarterly statement January to March 2027 July 22, 2027 – Half-year report January to June 2027 October 21, 2027 – 9M quarterly statement January to September 2027
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6 | 13 Key Performance Indicators for the first 9 Months of 2026 Group Bioprocess Solutions Lab Products & Services in millions of € unless otherwise specified 9 mon. 2026 9 mon. 2025 Δ in % Δ in % cc1 9 mon. 2026 9 mon. 2025 Δ in % Δ in % cc1 9 mon. 2026 9 mon. 2025 Δ in % Δ in % cc1 Sales Revenue Sales revenue 2,737.2 2,610.5 4.9 8.12 | 6.9 2,213.1 2,115.3 4.6 8.12 | 6.8 524.2 495.2 5.9 8.32 | 7.5 EMEA3 1,155.2 1,084.1 6.6 6.4 948.9 886.6 7.0 6.9 206.3 197.5 4.5 4.2 Americas3 937.9 924.8 1.4 8.42 | 4.9 767.5 762.7 0.6 7.82 | 4.2 170.4 162.1 5.1 10.82 | 8.3 Asia | Pacific3 644.1 601.6 7.1 11.0 496.6 466.0 6.6 10.8 147.5 135.6 8.7 11.6 Results Underlying EBITDA4 827.8 774.2 6.9 714.1 666.5 7.1 113.6 107.7 5.6 Underlying EBITDA Margin4 in % 30.2 29.7 32.3 31.5 21.7 21.7 Underlying net profit5 259.8 243.6 6.7 Net profit6 188.3 124.7 51.0 Cash flow Cash flow from operating activities 561.6 511.0 9.9 Free cash flow7 310.0 199.7 55.2 Financial data per share Earnings per ordinary share5 in € 3.76 3.52 6.7 Earnings per preference share5 in € 3.77 3.53 6.6 Balance Sheet | Financials Sept. 30, 2026 Dec. 31, 2025 Balance sheet total 9,672.4 9,717.2 Equity 4,144.3 3,867.2 Equity ratio8 in % 42.8 39.8 Net debt 3,679.9 3,741.1 Ratio of net debt to underlying EBITDA9 3.33 3.55 1 Figures given in constant currencies eliminate the impact of changes in exchange rates by applying the same exchange rate for the current and the previous period. 2 Operational sales growth before customer compensation for tariff surcharges, in constant currencies. 3 According to customers' location. 4 Earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items. 5 Profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate. 6 After non-controlling interest. 7 Cash flow from operating activities minus cash flow from investing activities. 8 Equity in relation to the balance sheet total. 9 Quotient of net debt and underlying EBITDA over the past 12 months, including the pro forma amount contributed by acquisitions for this period. Figures are not audited nor reviewed.
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7 | 13 Key Performance Indicators for the third Quarter of 2026 Group Bioprocess Solutions Lab Products & Services in millions of € unless otherwise specified Q3 2026 Q3 2025 Δ in % Δ in % cc1 Q3 2026 Q3 2025 Δ in % Δ in % cc1 Q3 2026 Q3 2025 Δ in % Δ in % cc1 Sales Revenue Sales revenue 926.3 843.2 9.9 9.02 | 8.4 737.6 680.4 8.4 7.72 | 7.1 188.7 162.8 16.0 14.12 | 13.8 EMEA3 371.0 352.3 5.3 298.7 285.0 4.8 72.4 67.3 7.5 Americas3 329.8 286.4 15.2 266.1 233.4 14.0 63.7 53.0 20.2 Asia | Pacific3 225.5 204.5 10.3 172.8 162.0 6.7 52.7 42.5 24.0 Results Underlying EBITDA4 279.9 246.9 13.4 237.4 213.2 11.3 42.6 33.6 26.5 Underlying EBITDA Margin4 in% 30.2 29.3 32.2 31.3 22.5 20.7 Underlying net profit5 87.8 74.9 17.2 Net profit6 66.1 43.8 51.2 Financial Data per Share Earnings per ordinary share5 in € 1.27 1.08 17.2 Earnings per preference share5 in € 1.27 1.08 17.2 1 Figures given in constant currencies eliminate the impact of changes in exchange rates by applying the same exchange rate for the current and the previous period. 2 Operational sales growth before customer compensation for tariff surcharges, in constant currencies. 3 According to customers' location. 4 Earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items. 5 Profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate. 6 After non-controlling interest. Figures are not audited nor reviewed.
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8 | 13 Statement of Profit or Loss € in millions 3rd quarter 2026 3rd quarter 2025 9 months 2026 9 months 2025 Sales revenue 926.3 843.2 2,737.2 2,610.5 Cost of sales –505.5 –450.0 –1,468.8 –1,370.1 Gross profit on sales 420.8 393.3 1,268.4 1,240.5 Selling and distribution expenses –164.5 –163.3 –499.2 –497.0 Research and development expenses –44.3 –40.4 –140.5 –131.8 General administrative expenses –52.1 –55.4 –160.1 –178.8 Other operating income 10.5 15.0 49.4 38.5 Other operating expenses –4.6 –19.5 –34.5 –72.4 Earnings before interest and taxes (EBIT) 165.8 129.7 483.6 399.0 Financial income 9.5 4.8 44.3 45.7 Financial expenses –44.9 –49.5 –159.7 –189.4 Financial result –35.5 –44.7 –115.4 –143.6 Profit before tax 130.3 85.0 368.3 255.3 Income taxes –35.2 –22.9 –99.4 –68.9 Net profit for the period 95.1 62.0 268.8 186.4 Attributable to: Equity holders of Sartorius AG 66.1 43.8 188.3 124.7 Non-controlling interest 29.0 18.3 80.5 61.7 Earnings per ordinary share (€) (basic | diluted ) 0.96 0.63 2.72 1.80 Earnings per preference share (€) (basic | diluted) 0.96 0.63 2.73 1.81 Figures are not audited nor reviewed.
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9 | 13 Statement of Comprehensive Income € in millions 3rd quarter 2026 3rd quarter 2025 9 months 2026 9 months 2025 Net profit for the period 95.1 62.0 268.8 186.4 Cash flow hedges –9.3 –6.0 –36.3 43.2 - of which effective portion of changes in fair value –6.6 0.0 –14.2 45.5 - of which reclassified to profit or loss –2.7 –6.0 –22.0 –2.3 Income tax on cash flow hedges 2.8 1.8 10.8 –13.0 Net investment in a foreign operation (currency translation) 1.3 0.2 12.2 –44.2 Currency translation differences 51.9 –26.6 88.1 –181.1 Items that may be reclassified to profit or loss, net of tax 46.6 –30.6 74.8 –195.0 Remeasurements of the net defined benefit liability 0.0 0.0 0.0 2.1 Income tax on remeasurements of the net defined benefit liability 0.0 0.0 0.0 –0.6 Equity Instruments at FVOCI –0.1 –9.8 –1.2 –6.8 Items that will not be reclassified to profit or loss, net of tax –0.1 –9.8 –1.2 –5.3 Other comprehensive income after tax 46.5 –40.4 73.6 –200.3 Total comprehensive income 141.6 21.7 342.5 –13.9 Attributable to: Equity holders of Sartorius AG 99.1 11.9 246.8 –46.1 Non-controlling interest 42.6 9.8 95.7 32.2 Figures are not audited nor reviewed.
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10 | 13 Statement of Financial Position € in millions Sept. 30, 20261 Dec. 31, 2025 Non-current assets Goodwill 3,497.1 3,469.8 Other intangible assets 1,760.2 1,828.2 Property, plant and equipment 2,551.0 2,456.6 Financial assets 67.9 67.9 Other assets 5.7 5.7 Deferred tax assets 138.8 122.7 8,020.7 7,951.1 Current assets Inventories 862.6 792.2 Trade receivables 307.5 238.5 Other financial assets 18.8 29.4 Current tax assets 112.3 50.3 Other assets 120.0 114.4 Cash and cash equivalents 230.7 541.4 1,651.8 1,766.2 Total assets 9,672.4 9,717.2 € in millions Sept. 30, 20261 Dec. 31, 2025 Equity Equity attributable to Sartorius AG shareholders 2,933.0 2,706.8 Issued capital 69.1 69.1 Capital reserves 248.5 246.7 Other reserves and retained earnings 2,615.4 2,391.0 Non-controlling interest 1,211.3 1,160.5 4,144.3 3,867.2 Non-current liabilities Pension provisions 57.9 57.0 Other provisions 25.7 25.7 Loans and borrowings 3,272.4 3,184.3 Lease liabilities 159.2 171.8 Other financial liabilities 53.0 11.4 Deferred tax liabilities 412.7 432.2 3,980.9 3,882.6 Current liabilities Provisions 33.8 32.0 Trade payables 324.8 343.1 Contract liabilities 214.8 201.9 Loans and borrowings 441.5 891.0 Lease liabilities 37.5 35.4 Employee benefits 149.5 142.1 Other financial liabilities 112.9 166.7 Current tax liabilities 157.3 93.8 Other liabilities 75.2 61.6 1,547.3 1,967.4 Total equity and liabilities 9,672.4 9,717.2 1 Figures are not audited nor reviewed
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11 | 13 Statement of Consolidated Cash Flows € in millions 9 months 2026 9 months 2025 Profit before tax 368.3 255.3 Financial result 115.4 143.6 Depreciation | amortization of intangible and tangible assets 316.9 309.6 Change in provisions 0.3 –4.6 Change in receivables and other assets –66.7 4.9 Change in inventories –50.0 –87.1 Change in liabilities (without loans and borrowings) –2.2 –2.4 Interest received 12.7 19.1 Income taxes paid –125.9 –131.6 Gains | losses from the disposal of fixed assets –3.6 0.0 Other non-cash transactions –3.5 4.3 Cash flow from operating activities 561.6 511.0 Investments in intangible and tangible assets –262.0 –305.0 Investments in financial assets –3.2 –6.3 Proceeds from disposals of property, plant and equipment and financial 13.7 0.0 Acquisitions of subsidiaries and other business operations 0.0 –67.1 Cash flow used in investing activities –251.6 –378.4 Capital increase 0.0 0.0 Interest paid –150.9 –162.8 Dividends paid to: - Shareholders of Sartorius AG –50.8 –50.7 - Non-controlling interest –19.9 –20.0 Changes in non-controlling interest –81.6 –4.0 Loans and borrowings repaid –827.1 –315.2 Loans and borrowings raised 502.5 0.0 Cash flow from | used in financing activities –627.9 –552.8 Net increase | decrease in cash and cash equivalents –317.9 –420.2 Cash and cash equivalents at the beginning of the period 541.4 813.4 Net effect of currency translation on cash and cash equivalents 7.2 –3.3 Cash and cash equivalents at the end of the period 230.7 389.9 Figures are not audited nor reviewed.
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12 | 13 Reconciliation in millions of € 9 months 2026 9 months 2025 EBIT 483.6 399.0 Extraordinary items 27.2 65.6 Amortization 109.3 116.6 Normalized financial result1 –125.4 –123.0 Normalized income tax (27%)2 –133.6 –123.7 Underlying net result after tax 361.2 334.5 Non-controlling interest –101.4 –90.9 Underlying earnings after taxes and non-controlling interest 259.8 243.6 Underlying earnings per share per ordinary share in € 3.76 3.52 per preference share in € 3.77 3.53 1 Financial results adjusted for effects of foreign currency translation and hedging. 2 Income tax considering the average group tax rate, based on the underlying profit before tax. Figures are not audited nor reviewed.
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13 | 13 A profile of Sartorius Sartorius is a leading international partner to biop harmaceutical research and manufacturi ng. The Lab Products & Services Division focuses on inno vative laboratory instruments and consumables for research and quality assurance laboratories in pharmaceutical and biopharmaceutical companies as well as academic research institutions. The Bioprocess Solutions Division supports customers with a broad product portfolio focused on single-use solutions for the safer, fast er, and more sustainable production of biotec h drugs, vaccines, and cell and gene th erapies. With around 60 production and sale s locations worldwide, the Germany-based company has a strong global presence. Sartorius regularl y supplements its portfolio with acqu isitions of complementary technol ogies. In 2025, the company gene rated sales revenue of around 3.5 billion euros. More than 14,000 employees are working for customers around the globe. Contact Sven Köpsel H ead of Corporate Communications & IR +49 151 16852626 sven.koepsel@sartorius.com Petra Müller Head of Investor Relations +49 551 308 6035 petra.mueller2@sartorius.com