Slide 1: Conference Call Preliminary FY 2022 Results
Conference Call Preliminary FY 2022 Results Joachim Kreuzburg, Rainer Lehmann Sartorius | Sartorius Stedim Biotech | January 26, 2023
Slide 2: Overview
Overview ▪ Sales revenue +15%cc to €4.2bn: both divisions show double-digit growth ▪ Underlying EBITDA +20% to €1.4bn; margin of 33.8% close to high prior-year level ▪ Outlook 2023: low single-digit sales growth, high single-digit excluding Covid business; underlying EBITDA margin around prior-year
Slide 3: Agenda
Agenda Sartorius Group Preliminary FY 2022 results | FY 2023 outlook | Ambition 2025 Sartorius Stedim Biotech Group Preliminary FY 2022 results | FY 2023 outlook | Ambition 2025 Questions & Answers 3
Slide 4: Strong double-digit sales growth, margin close to high prior-year level
Sartorius Group Strong double-digit sales growth, margin close to high prior-year level Sartorius Group FY 2021 FY 2022 in % in % cc1 in millions of € unless otherwise specified Sales revenue 3,449 4,175 +21.0 +15.0 Order intake 4,268 4,007 -6.1 -10.1 Underlying EBITDA2 1,175 1,410 +20.0 Underlying
Slide 5: High growth across all geographies; Americas expand the fastest
Sartorius Group High growth across all geographies; Americas expand the fastest Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +21.4% +9.0% +16.2% EMEA Americas 1,551 ~ 37% ~ 37% 1,544 1,411 1,080 1,141 897 €4,175m Asia|Pacific FY 2021 FY 2022 FY 2021 FY 20
Slide 6: Bioprocess Solutions: Double-digit increase in sales revenue and earnings
Sartorius Group Bioprocess Solutions: Double-digit increase in sales revenue and earnings; order intake continues to normalize Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions -14.0% cc +15.9% cc +20.5% -10.4% +22.0% 3,484 3,326 3,123 2,727 1,188 1200 1
Slide 7: Lab Products & Services: Dynamic growth fueled by Bioanalytics business
Sartorius Group Lab Products & Services: Dynamic growth fueled by Bioanalytics business Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +7.4% cc +11.5% cc +17.6% +12.8% +17.4% 885 848 784 722 222 189 26.1% 26.2% FY 2021 FY 2022 FY 2021 FY 2022 FY 2021
Slide 8: Strong cash flow, high investments, growth-related build-up of working capital
Sartorius Group Strong cash flow, high investments, growth-related build-up of working capital Sartorius Group FY 2021 FY 2022 in % in millions of € unless otherwise specified Underlying EBITDA 1,175 1,410 +20.0 ▪ Higher inventories to support supply security Extraordinary items -41 -60 -48.3 effect
Slide 9: Very sound balance sheet and financial KPI
Sartorius Group Very sound balance sheet and financial KPI Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, Dec. 31, Sartorius Group 2,500 4.0 2021 2022 2,000 3.0 Equity ratio in % 30.2 38.1 1,500 2.0 1,000 Net debt in millions of € 1,733 2,375 1.0 500 0 0.0 Net debt | un
Slide 10: Substantial CAPEX investment program across all regions and product areas
Substantial CAPEX investment program across all regions and product areas to support growth ambitions France CAPEX Aubagne China € in millions; ratio in % Lourdes Peking 100.0 523 600 USA Marlborough 90.0 407 500 80.0 70.0 400 Ann Arbor South Korea 60.0 50.0 226 240 300 Songdo Germany 40.0 12.3 10.3
Slide 11: Expansion projects proceeding according to plan
Expansion projects proceeding according to plan Ann Arbor, Michigan, USA Göttingen, Germany Songdo, South Kora Bioanalytics products and services Product development, membrane production, filtration Cell culture media, bags, filtration, laboratories, training Yauco, Puerto Rico, USA Aubagne, France
Slide 12: Outlook 2023: moderate top-line growth due to demand normalization
Sartorius Group Outlook 2023: moderate top-line growth due to demand normalization and low Covid business; strong market fundamentals fully intact Guidance 2023 1 Sales revenue growth (in %) Underlying EBITDA margin Sartorius Group Low single-digit Around prior-year level excluding Covid-related bus
Slide 13: Running around one year ahead of our mid-term plan
Running around one year ahead of our mid-term plan Recent business development vs. mid-term growth trajectory 7000 7000 6500 CAGRs ~20%1 6000 6000 5500 ~13% ~32% ▪ Sales revenues in 2021 and 2022 substantially 5000 5000 impacted by direct and indirect Covid effects 4500 4000 4000 ▪ Thus growth 2019-
Slide 14: Ambition 2025: revenue targets updated for inflation effects
Sartorius Group Ambition 2025: revenue targets updated for inflation effects on price levels; profitability unchanged BPS LPS Sartorius Group Sales ~€4.2bn ~€1.3bn ~€5.5bn revenue previously ~€3.8bn previously ~€1.2bn previously ~€5.0bn EBITDA ~36% ~28% ~34% margin unchanged unchanged unchanged ▪ 20
Slide 15: Agenda
Agenda Sartorius Group Preliminary FY 2022 results | FY 2023 outlook | Ambition 2025 Sartorius Stedim Biotech Group Preliminary FY 2022 results | FY 2023 outlook | Ambition 2025 Questions & Answers 15
Slide 16: Strong double-digit sales growth; margin close to high prior-year level
Sartorius Stedim Biotech Group Strong double-digit sales growth; margin close to high prior-year level Sartorius Stedim Biotech Group FY 2021 FY 2022 in % in % cc1 in millions of € unless otherwise specified Sales revenue 2,887 3,493 +21.0 +15.1 Order intake 3,664 3,315 -9.5 -13.0 Underlying EBITDA2
Slide 17: High growth across all geographies; Americas expand the fastest
Sartorius Stedim Biotech Group High growth across all geographies; Americas expand the fastest Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +21.4% +9.2% +16.7% EMEA Americas ~ 38% ~ 36% 1,278 1,319 1,199 946 896 742 €3,493m Asia|Pacific ~ 26% FY 2021 FY 2
Slide 18: Strong cash flow, high investments, growth-related build-up of working capital
Sartorius Stedim Biotech Group Strong cash flow, high investments, growth-related build-up of working capital Sartorius Stedim Biotech Group FY 2021 FY 2022 in % in millions of € unless otherwise specified Underlying EBITDA 1,033 1,221 +18.2 ▪ Higher inventories to support supply security Extraordin
Slide 19: Very sound balance sheet and financial KPI; debt ratio remains low
Sartorius Stedim Biotech Group Very sound balance sheet and financial KPI; debt ratio remains low Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA 1200 1.8 Dec. 31, Dec. 31, Sartorius Stedim Biotech Group 2021 2022 1000 1.5 800 1.2 Equity ratio in % 43.9 49.6 600 0.9 400 0.6 Net d
Slide 20: Running around one year ahead of our mid-term plan
Running around one year ahead of our mid-term plan Recent business development vs. mid-term growth trajectory 7000 7000 6500 CAGRs ~20.5%1 6000 6000 5500 ~13% ~34% ▪ Sales revenues in 2021 and 2022 substantially 5000 5000 impacted by direct and indirect Covid effects 4500 4000 4000 ▪ Thus growth 201
Slide 21: Outlook 2023: moderate top-line growth due to demand normalization
Sartorius Stedim Biotech Group Outlook 2023: moderate top-line growth due to demand normalization and low Covid business; strong market fundamentals fully intact Guidance 20231 Sales revenue growth (in %) Underlying EBITDA margin Sartorius Stedim Biotech Group Low single-digit Around prior-year leve
Slide 22: Ambition 2025: revenue target updated for inflation effects
Sartorius Stedim Biotech Group Ambition 2025: revenue target updated for inflation effects on price levels; profitability unchanged Sartorius Stedim Biotech Sales €4.4bn ▪ 2025 revenue target does not contain any potential Covid sales revenue previously ~€4.0bn ▪ The margin target includes expenses
Slide 23: Questions & Answers
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Slide 24: Disclaimer
Disclaimer This presentation contains statements concerning the future performance of the Sartorius and the Sartorius Stedim Biotech Groups. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee tha