Bruker Corporation · NASDAQ:BRKR
Bruker — Jefferies 2018 Global Healthcare Conference
23 slides from Bruker's conference presentation, Jun 7, 2018
Slide 1: Bruker Corporation (NASDAQ: BRKR)
Bruker Corporation (NASDAQ: BRKR) Bruker drives profitable growth by enabling scientific discoveries and delivering high-performance analytical, life science and diagnostic solutions. Innovation with Integrity © Bruker Corporation
Slide 2: Safe Harbor Statement
Bruker Corporation Safe Harbor Statement Any statements contained in this presentation that do not describe historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectati
Slide 3: Strengthening Leadership
Strengthening Leadership Gerald Herman Appointed Chief Financial Officer More than 30 years of financial, accounting and operations leadership experience Joined Bruker in 2016 as Vice President and Corporate Controller Appointed Interim CFO in March 2018 Prior senior executive positions with
Slide 4: Bruker Overview
Bruker Overview Differentiated Leader in Attractive Analytical, Life Science and Diagnostic Tools Markets BIOSPIN NANO Group Group • Founded in 1960, Bruker brand NMR/EPR for Life-Science Atomic Force Microscopy stands for innovation. Fluorescence Microscopy for Cell &Pharma Research Biology & Neuro
Slide 5: Market Leading Positions in Scientific Instruments
Market Leading Positions in Scientific Instruments BRUKER HOLDS #1 OR #2 MARKET POSITION FOR ~70% OF OUR PRODUCT PORTFOLIO NMR & EPR Preclinical Imaging: MRI, MALDI BioTyper for Mass Spec Imaging, Atomic Force Spectroscopy MPI, PET/SPECT, microCT Microbiology Microscopy (AFM) MALDI-TOF & MRMS X-Ray
Slide 6: Key Objectives
Bruker Key Objectives 1. Accelerate revenue growth: Enhance our revenue growth rate over time with our portfolio transformation initiatives Sustained end market improvements in ACAD/GOV, Europe/US, global Industrial, Semi & Applied 2. Transform portfolio with six high-growth, high-margin Project
Slide 7: Core Strategies
Bruker Core Strategies Portfolio initiatives and cost optimization drive profitable growth Bruker creates shareholder value by: Profitable Being well-positioned in attractive life Growth science tools & diagnostic markets Transforming our portfolio with a focus on six high-growth, high-margin Pr
Slide 8: Portfolio Transformation
Portfolio Transformation Portfolio Fundamentally reshaping the portfolio for faster growth & continued multi-year margin expansion Project Accelerate Initiatives: • Proteomics & Phenomics 2017 results: About 25% of • Biopharma & Applied Bruker’s revenue • Microbiology & Diagnostics Grew above LST ma
Slide 9: Progress with Portfolio Transformation: timsTOF Pro and scimaX
Progress with Portfolio Transformation: timsTOF Pro and scimaX: Enabling Technologies for Clinical Portfolio Proteomics, Clinical Phenomics & BioPharma New products and novel workflows at ASMS “The development of the scimaX will surely 2018 to fundamentally change life science be a game-changer fo
Slide 10: Progress with Portfolio Transformation: MRMS launch at ASMS 2018
Progress with Portfolio Transformation: MRMS launch at ASMS 2018 Portfolio Magnetic Resonance Mass Spectrometry (MRMS) MS Imaging for • ESI & MALDI (1 sec switch) drug development • Industry-leading mass resolution (20 million extreme resolution) Native MS for • Structural Routine, Biology broadband
Slide 11: Progress with Portfolio Transformation: Proteomics From Classical to Rectangular Strategy
Progress with Portfolio Transformation: Proteomics: From Classical to ‘Rectangular’ Strategy Portfolio Emphasis on speed, sustained sensitivity and instrument robustness for all cohort samples Structural Biology by GHz-Class NMR Image from msb.embpress.org 11
Slide 12: timsTOF Pro for 4D LC-TIMS-MS/MS with PASEF in proteomics research
Progress with Portfolio Transformation: timsTOF Pro for 4D LC-TIMS-MS/MS with PASEF in Portfolio proteomics research Ushering in a new era for ultra-high sensitivity and high-throughput proteomics Structural Biology by GHz-Class NMR Melvin Park, Inventor of TIMS; Matthias Mann, Inventor of PASEF Cou
Slide 13: Advantages of timsTOF Pro with Online PASEF
Progress with Portfolio Transformation: Advantages of timsTOF Pro with Online PASEF Portfolio High speed with Predicting the utility of 1 50x improvement in 2 Proven robustness 3 sensitivity 4 CCS values signal-to-noise ratios Structural Biology by GHz-Class NMR Courtesy of Prof. M. Mann 13
Slide 14: Sensitivity Advantage of PASEF in a Core Lab
Progress with Portfolio Transformation: Sensitivity Advantage of PASEF in a Core Lab Portfolio Fig. Courtesy of Chris Adams and Allis Chien 14
Slide 15: June 2018 Acquisition of Sierra Sensors SPR Product Line
Progress with Portfolio Transformation: June 2018 Acquisition of Sierra Sensors SPR Product Line Portfolio Complements MS & NMR Portfolio for Drug Discovery • Innovative analytical biosensors based on Surface Plasmon Resonance (SPR) detection • Measures specificity, affinity, kinetic rates and therm
Slide 16: FY 2017 financials
Bruker FY 2017 financials(1) Improved revenue growth and further operating margin expansion; 2016 tax rate affects EPS comparisons Revenues Non-GAAP Non-GAAP Operating Margin EPS(2) $1766 Mil 15.6% $1611 14.8% Mil $1.19 $1.21 +$155M (+9.6%) +80 bps +2% (1)For the fiscal years ended Dec. 31, 2017 and
Slide 17: FY 2018 Guidance
FY 2018 Guidance(1): Sustained organic revenue growth, further operating margin expansion FY 2018 Guidance 2018 ASSUMPTIONS Organic revenue growth: Revenue Growth y-o-y Approximately +7% approximately +3% FX revenue tailwind: approximately +4% Non-GAAP Operating Margin +50 bps to +80 bps Expansi
Slide 18: www.bruker.com
www.bruker.com © Bruker Corporation 18
Slide 19: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (unaudited) (in millions, except per share amounts) Twelve Months Ended December 31, 2017 2016 Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before Tax, Non-GAAP Net Income, and Non-GAAP EPS GAAP Operating Income
Slide 20: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions, except per share amounts) Twelve Months Ended December 31, 2017 2016 Reconciliation of GAAP and Non-GAAP Gross Profit GAAP Gross Profit $ 813.0 $ 742.5 Non-GAAP Adjustments: Restructuring Costs 5.6 11.
Slide 21: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions, except per share amounts) Twelve Months Ended December 31, 2017 2016 Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net GAAP Interest & Other Income (Expense), net $ (16.9) $ 0.
Slide 22: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions, except per share amounts) Twelve Months Ended December 31, 2017 2016 Reconciliation of GAAP Revenue and Non-GAAP Revenue GAAP Revenue as of Prior Comparable Period $ 1,611.3 $ 1,623.8 Non-GAAP Adjustme
Slide 23: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures With respect to the Company's outlook for 2018 non-GAAP operating margin, non-GAAP EPS and non-GAAP tax rate, we are not providing the most directly comparable GAAP financial measures or corresponding reconciliations to such GA