Earnings release
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1 | 11 Earnings Release Aubagne, France | October 22, 2026 Sartorius Stedim Biotech delivers strong operational growth and robust profitability Sales revenue including tariff compensation to customers at 2,289 million euros, up 6.5 percent in constant currencies (reported: 4.3 percent) ; operational sales revenue excluding tariff compensation grows by 7.8 percent in constant currencies Underlying EBITDA¹ of 716 million euros and margin at 31.3 percent; net profit of 277 million euros Business develops in line with expectations: Recurring business remains main driver, with equipment continuing its positive growth trend Management confirms and partially refines guidance for 2026 Sartorius Stedim Biotech, a leading provider of i nnovative technologies for the manufacture of biologics, sustained its positive business trajectory in the first nine months of 2026 and delivered robust growth in sales revenue and profitability. The period was also marked by a significant improvement in cash flow generation and a further reduction in leverage. “Our operational and financial performance throughout the first nine months of 2026 remained strong, with robust growth in sales revenue and profitability,” said Dr. René Fáber, CEO of Sartorius Stedim Biotech. “Our recurring business with consumables continued to be the backbone of our business, while we saw further encouraging progress in bioprocessing equipment. This positive development across all regions, underpinned by healthy market fundamentals, leaves us well positioned for the remainder of the year and clearly reinforces our confidence in our full-year guidance for 2026.” Business development 1 During the first nine months of the fiscal year, Sartorius Stedim Biotech generated sales revenue of 2,289 million euros, with operational sales revenue growing by 7.8 percent in constant currencies compared with the prior-year period. The recurring business with consumables remained the main driver of this development. In addition, business with bioprocess equipment grew compared to the prior-year period. The business results reported for the first nine mont hs of the year were influenced by a non-operational effect: In the third quarter, the company received further tariff refunds for levies invalidated by the U.S. Supreme Court. As Sartorius Stedim Biotec h compensates customers fo r corresponding tariff surcharges previously paid, the related amounts are recognized as reductions in cost of sales and sales revenue. Including the impact from tariff compensati on to customers, which amounts to 28 million euros after the first nine months of 2026, sales revenue grew by 6.5 percent in constant currencies (reported: 4.3 percent).
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2 | 11 All regions contributed to the positive business performance: The EMEA2 region recorded a 6.5 percent gain in constant currencies compared wi th the prior-year period, achieving 982 million euros in sales revenue. The Americas region, which continued to be impacted by tariff compensation to customers, generated sales revenue of 783 million euros. Excluding the tariff compen sation effect, growth amounted to 7.6 percent in constant currencies; including this effect, the incr ease was 3.9 percent in constant currencies. The Asia/Pacific region grew significantly by 10.6 percent in constant currencies to 524 million euros, with China contributing positively to regional performance. The Group’s underlying EBITDA rose by 4.8 percent to 716 million euros in the first nine months of 2026, with the corresponding margin increasing by 0.2 percentage points to 31.3 percent (PY: 31.1 percent). Positive volume effects and economies of scale more than o ffset product mix e ffects. On a net basis, tari ff surcharges and the related customer compensation offset each other, with no impact on profitability. Net profit amounted to 277 million euros (PY: 218 million euros), an increase of 26.7 percent. Underlying net profit increased by 9.4 percent to 350 million euros (PY: 320 million euros). Underlying earnings per share rose to 3.59 euros (PY: 3.28 euros), and earnings per share to 2.84 euros (PY: 2.24 euros). The number of employees at Sartorius Stedim Biotech gr ew in all regions in the first nine months of the year, primarily due to the hiring of additional production personne l. As of September 30, 2026, the company employed 10,483 people (December 31, 2025: 10,265). Sartorius Stedim Biotech introduced several new pr oducts designed to meet key customer needs in bioprocessing and advanced therapies. A single-use bi oreactor 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. Key financial indicators Sartorius Stedim Biotech’s balance sheet and key financial indicators improved further from already very robust levels. As of September 30, 2026, equity am ounted to 4,390 million euro s, corresponding to an increased equity ratio 1 of 54.6 percent (December 31, 2025: 4,126 million euros and 51.7 percent, respectively). Cash flow from operating activities increased by 11.6 percent to 498 million euros in the first nine months of the current fiscal year (PY: 446 million euros). Key drivers were the positive earnings development and tariff refunds received. Investments in the company’s global research and production infrastructure totaled 232 million euros in the first nine months of 2026 (PY: 276 million euros). The ratio of capital expenditure to sales revenue stood at 10.1 percent (PY: 12.6 perc ent). Based on the positive trend in operating cash flow and the lower investment volu me, free cash flow in creased disproportionate ly by 58.5 percent to 264 million euros (PY: 167 million euros). Gross debt was 2,310 million euros, while net debt amounted to 2,138 million euros. As planned, the company continued to reduce its rati o of net debt to underlying EBITDA 1, which reached 2.26 as of September 30, 2026 (December 31, 2025: 2.38).
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3 | 11 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 sales and profitability guidance for the full year and refines the expected ratio of capital expenditure to sales revenue. Sartorius Stedim Biotech continues to expect sales reve nue growth in constant currencies of around 6 to 10 percent. Operational growth excluding tariff-related effects is expected to be around the midpoint of the range, while growth including the intended customer compensation for unlawfully imposed U.S. tariffs is expected to be in the lower half. Customer compensation could reduce sales revenue by up to 35 million euros compared with initial assumptions. With regard to profitability, mana gement continues to project the underlying EBITDA margin to increase to slightly above 31 percent. The ratio of capital expenditure to sales revenue is now expected to be around 13 percent and thus slightly below the previously expected prior-year level of 13.3 percent. The ratio of net debt to underlying EBITDA should decrease to slightly above 2 (PY: 2.38). Forecasts have been prepared based on historical information and are consistent with accounting policies. All forecast figures are based on constant currencies, as in past years. Management points out that the dynamics and volatility in the industry have increased significantly in recent years. In addition, uncertainties arising from the changed geopolitical situation, su ch as emerging decoupling tendencies among various countries as well as changes in trade policy frameworks, are playing a greater role. This results in greater uncertainty when forecasting business figures. 1 Sartorius Stedim Biotech publishes alternative performance meas ures that are not defined by international accounting standard s. These are determined with the aim of improving comparability of business performance over time and within the industry. Constant currencies: figures given in constant currencies elimin ate the impact of changes in exchange rates by applying the same exchange rate for the current and the previous period Underlying EBITDA: earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items Underlying net profit: profit for the peri od after non-controlling interest, adjusted for extraordinary items and amortization, and 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 shares outstanding Equity ratio: equity in relation to the balance sheet total Ratio of net debt to underlying EBITDA: quotient of net debt and underlying EBITDA over the past 12 months 2 EMEA = Europe, Middle East, Africa This media release contains forward-looki ng statements about the future development of the Sartorius Stedim Biotech 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 Stedim Biotech assumes no liability for upda ting such statements in light of new information or future events. Sartorius Stedim Biotech shall not assume any liability for the correctness of this release. The original French press release is the legally binding version.
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4 | 11 Conference call for investors Dr. René Fáber, CEO of the Sartorius Stedim Biotech Group, 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 13, 2027 – Annual Shareholders' Meeting April 22, 2027 – Q1 quarterly statement January to March 2027 July 22, 2027 – Half-year report for January to June 2027 October 21, 2027 – 9M quarterly statement January to September 2027
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5 | 11 Unaudited Key Figures for the First Nine Months and Third Quarter of 2026 In millions of € unless otherwise specified 9 months 2026 9 months 2025 Δ in % Δ in % cc1 Sales revenue 2,289.2 2,195.3 4.3 7.82 | 6.5 EMEA3 982.1 921.3 6.6 6.5 Americas3 782.9 781.9 0.1 7.62 | 3.9 Asia | Pacific3 524.2 492.1 6.5 10.6 Results Underlying EBITDA4 716.0 683.1 4.8 Underlying EBITDA margin4 in % 31.3 31.1 Underlying net profit5 349.6 319.5 9.4 Underlying earnings per share5 in € 3.59 3.28 9.4 Net profit6 276.6 218.3 26.7 Earnings per share6 in € 2.84 2.24 26.7 Cash flow Cash flow from operating activities 497.6 445.7 11.6 Free cash flow7 264.3 166.8 58.5 In millions of € unless otherwise specified Q3 2026 Q3 2025 Δ in % Δ in % cc1 Sales revenue 762.1 705.7 8.0 7.42 | 6.8 EMEA3 309.7 296.6 4.4 Americas3 270.6 240.4 12.6 Asia | Pacific3 181.7 168.6 7.8 Results Underlying EBITDA4 237.1 221.1 7.2 Underlying EBITDA margin4 in % 31.1 31.3 Underlying net profit5 114.6 91.6 25.1 Underlying earnings per share5 in € 1.18 0.94 25.1 Net profit6 95.5 64.2 48.7 Earnings per share6 in € 0.98 0.66 48.7 1 Constant currencies: 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. 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. Figures are not audited nor reviewed.
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6 | 11 Reconciliation of alternative performance measures Reconciliation between EBIT and underlying EBITDA In millions of € 9 months 2026 9 months 2025 EBIT (operating result) 454.3 405.0 Extraordinary items 19.4 43.9 Depreciation & amortization 242.3 234.2 Underlying EBITDA 716.0 683.1 Figures are not audited nor reviewed. 1 Financial result excluding fair value adjustments of hedging instruments and currency effects relating to financing activities 2 Normalized income tax based on the underlying profit before taxes and amortization Figures are not audited nor reviewed. Ratio of net debt to underlying EBITDA In millions of €unless otherwise specified Sept. 30, 20261 Dec. 31, 2025 Gross debt 2,310.4 2,599.3 - Cash and cash equivalents 172.0 426.1 Net debt 2,138.3 2,173.1 Underlying EBITDA (12 months) 946.7 913.7 Ratio of net debt to underlying EBITDA 2.26 2.38 1 Figures are not audited nor reviewed. Capital expenditures In millions of € unless otherwise specified 9 months 2026 9 months 2025 Sales revenue 2,289.2 2,195.3 Capital expenditures 231.9 276.1 Capital expenditures as % of sales revenue 10.1 12.6 Figures are not audited nor reviewed. Reconciliation between EBIT and underlying net result In millions of € 9 months 2026 9 months 2025 EBIT (operating result) 454.3 405.0 Extraordinary items 19.4 43.9 Amortization | IFRS 3 81.9 85.3 Normalized financial result1 –81.0 –101.8 Normalized income tax (26%)2 –123.4 –112.4 Underlying net result after tax 351.2 319.9 Non-controlling interest –1.7 –0.4 Underlying net result after taxes and non-controlling interest 349.6 319.5 Underlying earnings per share in € 3.59 3.28
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7 | 11 Statement of Consolidated Profit or Loss In millions of € 3rd quarter 2026 3rd quarter 2025 9 months 2026 9 months 2025 Sales revenue 762.1 705.7 2,289.2 2,195.3 Cost of sales –419.2 –378.3 –1,242.2 –1,166.9 Gross profit on sales 342.9 327.4 1,047.0 1,028.4 Selling and distribution costs –117.6 –117.3 –358.3 –359.6 Research and development costs –33.7 –30.1 –107.4 –101.4 General administrative expenses –41.6 –40.3 –127.7 –131.5 Other operating income 8.4 11.5 41.1 33.6 Other operating expenses –7.3 –16.5 –40.4 –64.5 Earnings before interest and taxes (EBIT) 151.1 134.8 454.3 405.0 Financial income 8.5 4.1 31.8 36.1 Financial expenses –29.3 –51.4 –110.0 –145.7 Financial result –20.8 –47.3 –78.3 –109.5 Profit before tax 130.3 87.5 376.0 295.4 Income taxes –33.9 –22.7 –97.8 –76.8 Net profit for the period 96.4 64.7 278.3 218.7 Attributable to: Equity holders of Sartorius Stedim Biotech S.A. 95.5 64.2 276.6 218.3 Non-controlling interest 0.9 0.5 1.7 0.4 Earnings per share (€) 0.98 0.66 2.84 2.24 Diluted earnings per share (€) 0.98 0.66 2.84 2.24 Figures are not audited nor reviewed.
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8 | 11 Statement of Consolidated Other Comprehensive Income In millions of € 3rd quarter 2026 3rd quarter 2025 9 months 2026 9 months 2025 Net profit for the period 96.4 64.7 278.3 218.7 Cash flow hedges –7.9 –5.4 –33.8 37.5 - Of which effective portion of changes in fair value -5.6 0.1 –14.4 39.6 - Of which reclassified to profit or loss –2.3 –5.5 –19.3 –2.1 Income tax on cash flow hedges 2.4 1.6 10.1 –11.3 Foreign currency translation differences 48.1 –25.0 73.2 –128.3 Items that are or may be reclassified subsequently to profit or loss 42.6 –28.7 49.6 –102.0 Remeasurements of the net defined benefit liabilities 0.0 0.0 –0.1 1.1 Income tax on remeasurements of the net defined benefit liabilities 0.0 0.0 0.0 –0.3 Items that will not be reclassified to profit or loss 0.0 0.0 –0.1 0.8 Other comprehensive income after tax 42.6 –28.7 49.5 –101.3 Total comprehensive income 139.0 36.0 327.8 117.4 Attributable to: Equity holders of Sartorius Stedim Biotech S.A. 136.6 35.8 325.1 117.6 Non-controlling interest 2.4 0.2 2.7 –0.2 Figures are not audited nor reviewed.
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9 | 11 Statement of Consolidated Financial Position In millions of € Sept. 30, 20261 Dec. 31, 2025 Non-current assets Goodwill 2,894.9 2,883.8 Other intangible assets 1,482.5 1,536.7 Property, plant and equipment 2,144.8 2,024.6 Financial assets 22.3 19.0 Other assets 3.2 3.6 Deferred tax assets 89.9 75.2 6,637.5 6,542.8 Current assets Inventories 751.1 690.9 Trade receivables 266.5 192.8 Other financial assets 39.4 23.6 Current tax assets 94.3 31.5 Other assets 77.8 76.3 Cash and cash equivalents 172.0 426.1 1,401.1 1,441.2 Total assets 8,038.6 7,984.0 Equity Attributable to shareholders of Sartorius Stedim Biotech S.A. 4,378.0 4,090.5 Issued capital 19.5 19.5 Capital reserves 1,424.1 1,424.1 Retained earnings (including net profit) 2,934.4 2,647.0 Non-controlling interest 12.4 35.6 4,390.3 4,126.2 Non-current liabilities Pension provisions 33.8 32.6 Other provisions 16.7 16.8 Loans and borrowings 1,915.0 1,867.3 Lease liabilities 143.7 151.2 Other financial liabilities 32.0 2.2 Deferred tax liabilities 357.7 375.6 2,499.0 2,445.8 Current liabilities Provisions 22.2 16.3 Trade payables 288.4 277.8 Contract liabilities 174.7 167.6 Loans and borrowings 226.2 557.3 Lease liabilities 25.5 23.4 Employee benefits 103.3 99.1 Other financial liabilities 96.7 141.7 Current tax liabilities 151.3 82.0 Other liabilities 61.0 47.0 1,149.3 1,412.1 Total equity and liabilities 8,038.6 7,984.0 1 Figures are not audited nor reviewed.
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10 | 11 Statement of Consolidated Cash Flows In millions of € 9 months 2026 9 months 2025 Profit before tax 376.0 295.4 Financial result 78.3 109.5 Depreciation | amortization of fixed assets 242.3 234.2 Change in provisions 5.6 2.3 Change in receivables and other assets –76.0 13.5 Change in inventories –42.9 –81.4 Change in liabilities (excl. loans and borrowings) 25.7 –19.2 Interest received 10.3 14.0 Income taxes paid –116.5 –125.6 Other non-cash items –5.2 2.9 Cash flow from operating activities 497.6 445.7 Acquisitions of intangible and tangible assets –231.9 –276.1 Investments in financial assets –1.4 –2.8 Cash flow used in investing activities –233.3 –278.9 Interest paid –121.7 –149.7 Dividends paid to: - Shareholders of Sartorius Stedim Biotech S.A. –67.1 –67.1 - Non-controlling interest –0.8 –0.9 Acquisition of non-controlling interest –70.9 0.0 Loans and borrowings repaid –562.7 –334.8 Loans and borrowings raised 294.8 12.9 Purchases | sales of own shares 4.1 –4.0 Cash flow from | used in financing activities –524.2 –543.7 Net increase | decrease in cash and cash equivalents –260.0 –376.9 Cash and cash equivalents at the beginning of the period 426.1 678.9 Currency translation effects on cash and cash equivalents 5.9 –3.3 Cash and cash equivalents at the end of the period 172.0 298.7 Figures are not audited nor reviewed.
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11 | 11 A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a provider of innovative solutions, the company based in Au bagne, France, helps its customers to m anufacture biotech medications, such as ce ll and gene t herapies, safely , rapidly, and sustainably. The shares of Sartorius Stedim Biotech S.A. are quoted on Euronext Pa ris. The company has a str ong global re ach with manufacturing and R&D sit es as well as sales en tities in E urope, North Americ a, and Asia. Sartorius Stedim Biotech regularly expands its portfolio through acquisitions of complementary technologies. In 2025, the company generat ed sales re venue of around 3 billion euros. Mor e than 10,200 employees work for customers around the globe. Contact Sven Köpsel Head 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