Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sartorius-ag" target="_blank" data-smartkarma-citation="entities:21720:1" rel="noopener">Sartorius AG (SRT GR)</a> reported 21% YoY increase in net profit for 1Q25 on 7% YoY growth in sales. Growth was driven by Bioprocessing Solutions division, which facilitates biopharma manufacturing.</li>
<li>The company expects sales to increase by ~6%, with EBITDA margin of 29–30% (2024: 28.0%) for 2025. Bioprocess Solutions division is projected to grow ~7% in 2025.</li>
<li>With Sartorius reporting a strong 1Q25 result, we are upbeat on the 1Q25 performance as well as near-term growth prospects of two major biopharma CDMO players, Samsung Biologics and Lonza.</li>
</ul>



Sartorius AG (SRT GR) reported 21% YoY increase in net profit for 1Q25 on 7% YoY growth in sales. Growth was driven by Bioprocessing Solutions division, which facilitates biopharma manufacturing.
The company expects sales to increase by ~6%, with EBITDA margin of 29–30% (2024: 28.0%) for 2025. Bioprocess Solutions division is projected to grow ~7% in 2025.
With Sartorius reporting a strong 1Q25 result, we are upbeat on the 1Q25 performance as well as near-term growth prospects of two major biopharma CDMO players, Samsung Biologics and Lonza.


Sartorius AG (SRT GR): Strong 1Q25 Result; Positive Takeaway For Bioprocessing Industry

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/software-ag" target="_blank" data-smartkarma-citation="entities:21717:1" rel="noopener">Software AG (SOW GR)</a> was deleted from the MDAX index triggering a couple of interim changes in the last week of July 2023.</li>
<li>Currently, I do not expect any changes for the DAX or MDAX indices in September 2023 but I expect one change for the SDAX index.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.

Software AG (SOW GR) was deleted from the MDAX index triggering a couple of interim changes in the last week of July 2023.
Currently, I do not expect any changes for the DAX or MDAX indices in September 2023 but I expect one change for the SDAX index.


Quiddity Leaderboard-DAX Sep 23: No More Catalyst for the Short Sartorius - LONG Merck Trade

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.</li>
<li>As things stand, I do not see any changes for the DAX index as-is, but there are couple of names requiring only small price gains to trigger Fast Entry changes.</li>
<li>I see one change between MDAX and SDAX and one separate ADD/DEL for the SDAX index in the September 2023 rebalance.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.
As things stand, I do not see any changes for the DAX index as-is, but there are couple of names requiring only small price gains to trigger Fast Entry changes.
I see one change between MDAX and SDAX and one separate ADD/DEL for the SDAX index in the September 2023 rebalance.


Quiddity Leaderboard-DAX Sep 23: SHORT Sartorius LONG Merck Trade STILL Interesting

Index Rebalance

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/software-ag" target="_blank" data-smartkarma-citation="entities:21717:1" rel="noopener">Software AG (SOW GR)</a>'s takeover situation could result in intra-review index changes prior to the September 2023 rebalance. </li>
<li>
<a href="https://www.smartkarma.com/entities/fresenius-medical-care-ag-co" target="_blank" data-smartkarma-citation="entities:21622:1" rel="noopener">Fresenius Medical Care (FME GR)</a> and <a href="https://www.smartkarma.com/entities/deutsche-lufthansa-ag" target="_blank" data-smartkarma-citation="entities:21667:1" rel="noopener">Deutsche Lufthansa AG (LHA GR)</a> are close to becoming DAX ADDs as they require very small price gains to trigger Fast Entry additions.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices in the September 2023 Rebalance.

Software AG (SOW GR)'s takeover situation could result in intra-review index changes prior to the September 2023 rebalance. 

Fresenius Medical Care (FME GR) and Deutsche Lufthansa AG (LHA GR) are close to becoming DAX ADDs as they require very small price gains to trigger Fast Entry additions.


Quiddity Leaderboard-DAX Jun 23: A SHORT Sartorius LONG Merck Trade Might Be Interesting

European Event-Driven Analyst

Jesus Rodriguez Aguilar

<p>This Insight explains the main features of German non-voting savings shares and provides a list of the main ones traded. It mentions the reasons why preferred shareholders could be at a disadvantage in case of a takeover, and why some companies choose to offer conversion of preferred shares into ordinary shares.</p>

This Insight explains the main features of German non-voting savings shares and provides a list of the main ones traded. It mentions the reasons why preferred shareholders could be at a disadvantage in case of a takeover, and why some companies choose to offer conversion of preferred shares into ordinary shares.

German Preferred Shares: Takeover and Conversion

Germany

Sartorius AG manufactures and markets precision electronic equipment and components.  The Company produces precision scales for laboratory and industrial uses and electrochemistry.  Sartorius manufactures equipment for biomolecular and microbial separations, cell culture, concentration, fermentation, and purification.  The Company markets its products worldwide.

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Sartorius AG (SRT GR)