Sartorius AG · XETR:SRT

Sartorius — Sartorius Stedim Biotech — Shareholder Meeting (April 2017)

30 slides from Sartorius's shareholder meeting presentation, Apr 4, 2017

  1. Slide 1: Annual Shareholders' Meeting on April 4, 2017

    Welcome | Bienvenue | Benvenuti | Bienvenido | Willkommen | Welcome | Bienvenue | Benvenuti Annual Shareholders’ Meeting on April 8, 2014 Annual Shareholders’ Meeting on April 4, 2017 Bienvenue | Benvenuti | Bienvenido | Willkommen | Welcome | Bienvenue | Benvenuti | Bienvenid Willkommen | Welcome |

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains statements concerning Sartorius Stedim Biotech Group’s future performance. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actually materia

  3. Slide 3: Agenda

    Agenda 01 2016 Results Review 02 Dividend Proposal 03 Execution on mid-term plan 04 Outlook 2017 05 Adjustments to Board of Directors

  4. Slide 4: Another year of healthy growth in revenues and profits

    Another year of healthy growth in revenues and profits 2016 Continued double-digit top line growth Economies of scale drive overproportionate expansion of profitability Single-use portfolio complemented through the acquisition of kSep Systems Acceleration and step up of investments to support future

  5. Slide 5: Excellent development in line with upgraded expectations

    Excellent development in line with upgraded expectations Order Intake Sales Revenue Sales Revenue and Growth by Region in € millions in € millions in € millions unless otherwise specified 1,080.8 1,051.6 946.4 EMEA 454.4 | +16.5% 884.3 Americas 387.8 | +21.0% € 1.05bn Asia | Pacific 209.5 | +29.0% F

  6. Slide 6: Overproportionate earnings growth yet again

    Overproportionate earnings growth yet again Underlying EBITDA and Margin Earnings per Share1 in € 39,9 39,6 288,7 39,3 39 38,7 38,4 38,1 37,8 37,5 37,2 36,9 36,6 36,3 36 231,3 35,7 35,4 35,1 34,8 34,5 34,2 1.92 33,9 33,6 33,3 33 32,7 32,4 32,1 1.5 31,8 31,5 31,2 1.51 30,9 30,6 160,5 30,3 30 29,7 29,

  7. Slide 7: Healthy cash flow performance; influenced by acquisitions

    Healthy cash flow performance; influenced by acquisitions Sartorius Stedim Biotech Group Change FY 2015 FY 2016 in % € in millions Net cash flow from operating activities 142.8 156.7 +9.7 Net cash flow from investing activities 1 -106.3 -102.7 +3.4 Net cash flow from financing activities -27.2 -50.1

  8. Slide 8: Financial position remains very strong

    Financial position remains very strong Balance Sheet Net Debt to underlying EBITDA in € millions unless otherwise specified in € millions 1,5 150 130.0 25.6% 23.8% 113.7 1,2 32.9% 36.1% 1.5 13.7% 12.3% 87.4 86.4 100 1.0 1.0 0,9 1.2 67.6 0.90,6 67.1% 63.9% 63.9% 60.7% 50 0.6 0.5 0.4 0,3 0.3 0.2 0 FY

  9. Slide 9: Balance sheet of the parent company

    Balance sheet of the parent company Sartorius Stedim Biotech S.A. December 31, 2016; € in millions (unless otherwise specified) Assets Equity and Liabilities Non-current assets 136.5 87.6% Equity 103.6 66.4% Current assets 19.4 12.4% Liabilities 19.4 33.6% Total 155.9 100% Total 155.9 100% 9

  10. Slide 10: Stable share price development after a steep increase in 2015

    Stable share price development after a steep increase in 2015 SSB +1.8% Market Capitalization NASDAQ Biotech -21.7% 130% CAC Small +9.9% €5.8 bn SBF120 +4.7% 105% as of March 31, 2017 90% 85% 70% Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar 2016 2017  Share price more than doubled i

  11. Slide 11: Agenda

    Agenda 01 2016 Results Review 02 Dividend Proposal 03 Execution on mid-term plan 04 Outlook 2017 05 Adjustments to Board of Directors

  12. Slide 12: Strong dividend increase yet again

    Strong dividend increase yet again Earnings per Share Dividend per Share in € in € 1.92 0.42 1.51 0.33 0.95 0.22 0.82 0.18 0.20 0.70 2012 2013 2014 2015 2016 2012 2013 2014 2015 20161  8th dividend increase in succession  Total profit distributed would increase by 26.0% from €30.7mn to 38.7mn  Pa

  13. Slide 13: Agenda

    Agenda 01 2016 Results Review 02 Dividend Proposal 03 Execution on mid-term plan 04 Outlook 2017 05 Adjustments to Board of Directors

  14. Slide 14: SSB has a unique position in an attractive market

    SSB has a unique position in an attractive market, ... Broadest portfolio in the industry Pioneer & market leader in SU-technologies; 75% recurring revenue Leading positions in key technology platforms > 85% of sales generated from a TOP 1-3 position Strong reputation in a market with high entry bar

  15. Slide 15: A strong track record of profitable growth

    ... a strong track record of profitable growth... 2011-16 Sales CAGR ~ +15.5% EBITDA1 Margin +6.6 pp 0 +20.4% 33 +19.4% 32 +15.9% €1.05bn 31 0 30 +10.8% 29 +10.3% 28 0 27 26 25 0 27.5 24 €477m 26.2 23 22 0 21 23.0 23.5 20 20.9 21.5 19 0 18 17 16 0 15 2011 2012 2013 2014 2015 2016 Sales revenue EBITD

  16. Slide 16: Well on track to meet 2020 targets

    ... and is well on track to meet 2020 targets Strategic Initiatives ~ €1.5-1.6 bn 2 Regional  Gain share in North America Sales revenue  Leverage market growth in Asia ~ 4|5 ~ 1|5 Portfolio Organic Acquisitions  Alliances and acquisitions  Own product development ~ 29-30% 2 Infrastructure EBITDA

  17. Slide 17: Continuous market share gains in the Americas

    Regional | Portfolio | Infrastructure Continuous market share gains in the Americas Sales Growth Americas Footprint Sales Share America ~ 20% 2016: 37% CAGR1 2011-16 Bohemia 387,8 New Oxford 2011: 27% Mexico City Yauco 130,9 Production | Sales 2011 2016 Sales 2010 2012 2013 2015 2016  Own sales  O

  18. Slide 18: Business development in Asia in line with strong market growth

    Regional | Portfolio | Infrastructure Business development in Asia in line with strong market growth Sales Growth Asia Footprint ~ 17% CAGR1 2011-16 Beijing Seoul Tokyo Shanghai 209.5 Hanoi Bangalore 95.1 Kuala Lumpur Singapore Production | Sales 2011 2016 Sales 2011 2013 2014 2016  Optimized go-to

  19. Slide 19: Portfolio enhanced by seven acquisitions since 2011

    Regional | Portfolio | Infrastructure Portfolio enhanced by seven acquisitions since 2011 Acquisition Criteria  Portfolio:  Integration: Complementary products or technologies Management capacity; cultural fit  Market Position:  Price: Either among the Top 3 or unique position Fair value; reach

  20. Slide 20: kSep acquisition in 2016 complemented single-use portfolio

    Regional | Portfolio | Infrastructure kSep acquisition in 2016 complemented single-use portfolio  Unique single-use centrifugation systems for cell harvest in bioproduction  Annual sales of ~ €5m; purchase price of ~ $28m  Integration completed; positive development in the first months low cell d

  21. Slide 21: Recent acquisition of biopharma software developer Umetrics

    Regional | Portfolio | Infrastructure Recent Acquisition of leading biopharma software developer Umetrics  Highly specialized provider of data analytics software  Powerful solutions for modeling and optimizing development and manufacturing processes of biopharmaceuticals  Successful distribution

  22. Slide 22: Significant expansion of production capacities initiated in 2016

    Regional | Portfolio | Infrastructure Significant expansion of production capacities initiated in 2016 1400  Capacities increased earlier and to a greater extent 1200 Capex Development than initially planned due to strong organic growth 1000  Capacities at Yauco plant for single-use bags and 800 ~

  23. Slide 23: Ongoing digitalization and roll-out of efficient IT systems

    Regional | Portfolio | Infrastructure Ongoing digitalization and roll-out of efficient IT systems Sales Commercial New Marketing Operations CRM  Roll-out of new ERP system well advanced; implementation at sites in France, Tunesia and Belgium in 2016  New CRM system to support even more efficient p

  24. Slide 24: Considerable number of new jobs created again

    Regional | Portfolio | Infrastructure Considerable number of new jobs created again Group France Corporate Values + 58.2% + 72.8% SUSTAINABILITY Growing profitably and + 12.5% + 5.2% acting responsibly. OPENNESS 4.725 788 Driving change and progress internally and externally. 4.202 456 749 2.986 ENJ

  25. Slide 25: Agenda

    Agenda 01 2016 Results Review 02 Dividend Proposal 03 Execution on mid-term plan 04 Outlook 2017 05 Adjustments to Board of Directors

  26. Slide 26: Continued sales and earnings growth expected for 2017

    Continued sales and earnings growth expected for 2017 FY 2016 FY 2017 Guidance Sales revenue growth1 20.4% ~ 8% - 12% Underlying EBITDA margin 27.5% ~ +0.5pp1 Capex ratio 7.6% ~ 10% - 13% 1 In constant currencies  Guidance includes ~ 1 pp of growth expected to be contributed by the acquisition of U

  27. Slide 27: Agenda

    Agenda 01 2016 Results Review 02 Dividend Proposal 03 Execution on mid-term plan 04 Outlook 2017 05 Adjustments to Board of Directors

  28. Slide 28: Board of Directors adjusted in line with international practice

    Board of Directors adjusted in line with international practice  Size of the Board of Directors reduced from ten to seven members  Responsibilities of Board of Directors and operational management (GEC) sharpened  Former Board members Volker Niebel, Oscar-Werner Reif and Reinhard Vogt remain full

  29. Slide 29: Next Annual Shareholders' Meeting on April 3, 2018

    Next Annual Shareholders‘ Meeting of Sartorius Stedim Biotech S.A. | April 3, 2018 | Aubagne | Next Annual Shareholders’ Meeting on April 3, 2018 Next Annual Shareholders‘ Meeting of Sartorius Stedim Biotech S.A. | April 4, 2017 | Aubagne | Next Annual Shareholders‘ Meeting of Sartorius Stedim Biote

  30. Slide 30: Financial calendar and contacts

    Financial calendar and contacts Petra Kirchhoff  April 24, 2017 Publication of first-quarter 2017 results Vice President Corporate Communications & IR  May 3, 2017 Deutsche Bank HC Conference | Boston Phone: +49.551.308.1686 E-mail: petra.kirchhoff@sartorius.com  May 30, 2017 Gilbert Dupont Healt

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