Slide 1: Simplifying Progress: Conference Call First-Quarter 2020 Results
Simplifying Progress Conference Call First-Quarter 2020 Results Joachim Kreuzburg, Rainer Lehmann Sartorius | Sartorius Stedim Biotech April 21, 2020
Slide 2: 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
Slide 3: Q1 2020 Highlights
Q1 2020 Highlights Significant double-digit growth in Group order intake, sales revenue and earnings Coronavirus pandemic so far with overall neutral impact on Group level, different effects on the divisions Bioprocess Solutions: Dynamic top-line growth; strong order intake additionally driven
Slide 4: Agenda
Agenda Sartorius Group Q1 2020 Results | FY 2020 Guidance Sartorius Stedim Biotech Group Q1 2020 Results | FY 2020 Guidance Questions & Answers 4
Slide 5: Dynamic top-line growth; further margin increase
Dynamic top-line growth; further margin increase Sartorius Group Q1 2019 Q1 2020 in % in % cc1 in millions of € unless otherwise specified Sales revenue 435.7 509.9 +17.0 +16.5 Order intake 482.8 629.4 +30.4 +29.7 Underlying EBITDA2 114.0 137.9 +20.9 Underlying EBITDA2 margin in % 26.2 27.0 +0.8pp U
Slide 6: Double-digit growth in all geographies
Double-digit growth in all geographies Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +17.1 % +16.1 % +16.3 % EMEA 207.0 ~ 41% Americas 180.7 178.0 ~ 35% 152.4 122.2 105.3 €509.9m Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Asia|Pacific Americas: Stro
Slide 7: BPS: Strong demand across all product categories and regions
BPS: Strong demand across all product categories and regions Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +39.6% cc +22.4% cc +40.3% +23.0% +31.9% 506.2 394.3 119.9 360.7 320.7 90.9 30.4% 28.3% 1 Q1 2019 Q1 2020 Q1 2019 1 Q1 2020 Q1 2019 1 Q1 2020
Slide 8: LPS: Strongly reduced demand in China
LPS: Strongly reduced demand in China Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +0.5% cc +0.1% cc -22.3% +0.9% +0.5% 122.1 123.3 23.2 115.0 115.6 18.0 20.1% 15.6% 1 1 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 20191 Q1 2020 Soft demand, especially for
Slide 9: Operating cash flow increases
Operating cash flow increases Sartorius Group Q1 2019 Q1 2020 in % in millions of € unless otherwise specified Underlying EBITDA 114.0 137.9 +20.9 Net operating cash flow mostly driven by higher earnings and factoring of receivables Extraordinary items -5.0 -13.0 -159.9 in the amount of ~€75m Fina
Slide 10: Very sound balance sheet and financial base
Very sound balance sheet and financial base Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, Mar. 31, Sartorius Group 1,500 3.0 2019 2020 1,200 2.4 Equity ratio in % 38.0 39.0 900 1.8 600 1.2 Net debt in millions of € 1,011.3 951.9 300 0.6 0 0.0 Net debt | underlying 2.0
Slide 11: Outlook for 2020, higher uncertainty than usual
Outlook for 2020, higher uncertainty than usual Given the pandemic situation, forecast is subject to higher uncertainty than usual concerning both the development of existing businesses and the integration of acquisitions Guidance is based on the macroeconomic assumptions that China will continu
Slide 12: Outlook for 2020
Outlook for 2020 FY 2020 Guidance1 Previous New Sales Revenue Underlying Sales Revenue Underlying Growth EBITDA Margin Growth EBITDA Margin Sartorius Group ~ 10% - 13% ~ 27.5% ~ 15% - 19% ~ 27.5% - thereof Biological Industries 1.5pp slightly dilutive 1.5pp slightly dilutive - thereof Danaher portfo
Slide 13: Agenda
Agenda Sartorius Group Q1 2020 Results | FY 2020 Guidance Sartorius Stedim Biotech Group Q1 2020 Results | FY 2020 Guidance Questions & Answers 13
Slide 14: Dynamic top-line growth; further margin increase
Sartorius Stedim Biotech Group Dynamic top-line growth; further margin increase Sartorius Stedim Biotech Group Q1 2019 Q1 2020 in % in % cc1 in millions of € unless otherwise specified Sales revenue 342.9 422.1 +23.1 +22.3 Order intake 381.3 534.8 +40.3 +39.3 Underlying EBITDA2 98.1 126.7 +29.2 Unde
Slide 15: Growth in all regions, Asia|Pacific with the highest dynamics
Sartorius Stedim Biotech Group Growth in all regions, Asia|Pacific with the highest dynamics Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +20.3% +19.0% +31.6% EMEA 167.6 ~ 40% Americas 140.6 ~ 36% 152.7 124.8 101.7 €422.1m 77.5 Asia|Pacific Q1 2019 Q1 202
Slide 16: Operating cash flow increases
Sartorius Stedim Biotech Group Operating cash flow increases Sartorius Stedim Biotech Group Q1 2019 Q1 2020 in % in millions of € unless otherwise specified Underlying EBITDA 98.1 126.7 +29.2 Net operating cash flow mostly driven by higher earnings and factoring of receivables in Extraordinary ite
Slide 17: Very solid balance sheet and financial position
Sartorius Stedim Biotech Group Very solid balance sheet and financial position Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA 200 1.6 Dec. 31, Mar. 31, Sartorius Stedim Biotech 2019 2020 150 1.2 Equity ratio in % 64.7 65.7 100 0.8 Net debt in millions of € 107.7 46.2 50 0.4 Net
Slide 18: Outlook for 2020, higher uncertainty than usual
Sartorius Stedim Biotech Group Outlook for 2020, higher uncertainty than usual FY 2020 Guidance1 Previous New Sales revenue growth ~ 11% - 14% ~ 17% - 21% Underlying EBITDA ~ 29.5 ~ 30.0 margin CAPEX ratio ~ 8% ~ 8% 1 In constant currencies Forecast includes life science portfolio from Danaher for
Slide 19: Questions & Answers
Questions & Answers 19
Slide 20: Thank you very much for your attention
Thank you very much for your attention 20