German biopharma supplier Sartorius (SATG.DE) reported half-year earnings slightly above market expectations on Thursday, citing stable recurring business and the effect of U.S. tariff refunds.
The company reported an underlying earnings margin before interest, taxes, depreciation and amortization of 30.3%, just above a Vara consensus of 30%.
“Given that the timing and amount of the U.S. tariff refunds had long been uncertain, it is good to have more clarity now – even though we have seen a non-operating effect on our reported results," CEO Michael Grosse said in a statement.
He added that Sartorius was engaging with customers on refunding previously paid surcharges.
The earnings were driven by the Bioprocess Solutions division, which supplies technologies used to manufacture biopharmaceuticals and accounts for around 80% of the group's sales.
Sartorius reported sales of €1.48 billion ($1.69 billion) for the first half of 2026, with operational growth of 8.3% in constant currencies, and confirmed its guidance for the full year.
($1 = 0.8750 euros)
