Slide 1: Conference Call First-Half 2018 Results
Conference Call First-Half 2018 Results Joachim Kreuzburg, CEO Rainer Lehmann, CFO July 24, 2018
Slide 2: Disclaimer
Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group and the Sartorius Stedim Biotech Group. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarante
Slide 3: Agenda
Agenda 01 Sartorius Group H1 2018 Results | FY 2018 Guidance 02 Sartorius Stedim Biotech Group H1 2018 Results | FY 2018 Guidance 03 Questions & Answers
Slide 4: H1 2018 Highlights
H1 2018 Highlights Double-digit growth in sales and order intake Dynamics in Bioprocess Solutions division ahead of expectations; continued positive performance of Lab Products & Services Increase in profit margin despite FX headwinds FY 2018 sales guidance raised for BPS and the Group 4
Slide 5: Strong top-line growth; earnings margin 25.0%
Strong top-line growth; earnings margin 25.0% Sartorius Group in millions of € unless otherwise specified H1 20171 H1 2018 in % in % cc 2 Sales revenue 702.5 758.4 +8.0 +11.9 Order intake 741.9 807.6 +8.9 +12.7 Underlying EBITDA3 172.9 189.5 +9.6 Underlying EBITDA3 margin in % 24.6 25.0 +0.4 pp Unde
Slide 6: Growth in all regions; highest momentum in the Americas
Growth in all regions; highest momentum in the Americas Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % 324.4 EMEA ~ 43% 301.8 249.6 228.5 172.2 184.4 Americas ~ 33% ~ €758m Asia|Pacific ~ 24% H1 17 H1 18 H1 17 H1 18 H1 17 H1 18 +16.6 % +8.4 % +12.2 % Acc. t
Slide 7: BPS: Strong performance in Q2
BPS: Strong performance in Q2 Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +12.6% cc +11.9% cc +10.0% +8.7% +7.9% 594.6 546.9 550.3 510.1 153.9 140.0 28.0% 27.4% H1 17 H1 18 H1 17 H1 18 H1 17 H1 18 Significant sales growth with single-use products
Slide 8: LPS: Continued positive development in line with expectations
LPS: Continued positive development in line with expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +13.1% cc +12.0% cc +7.8% +9.2% +8.1% 213.0 208.1 195.0 192.4 35.5 33.0 17.1% 17.1% H1 17 H1 18 H1 17 H1 18 H1 17 H1 18 Essen BioScience acq
Slide 9: Cash flow influenced by higher earnings and lower taxes
Cash flow influenced by higher earnings and lower taxes Sartorius Group € in millions unless otherwise specified H1 20171 H1 2018 in % Net operating cash flow considerably enhanced by Underlying EBITDA 172.9 189.5 +9.6 higher earnings Extraordinary items -14.7 -13.9 +6.0 Net investing cash flow
Slide 10: Key financial indicators remain at robust levels
Key financial indicators remain at robust levels Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Sartorius Group Dec. 31, 2017 Jun. 30, 2018 1000 3.0 Equity ratio in % 35.1 34.9 800 2.4 600 1.8 Net debt in millions of € 895.5 955.3 400 1.2 Net debt | underlying EBITDA 2.5 2.6 200
Slide 11: 2018 revenue outlook confirmed for LPS, raised for BPS and Group
2018 revenue outlook confirmed for LPS, raised for BPS and Group FY 2018 Guidance1 Previous New Sales revenue Underlying Sales revenue Underlying growth EBITDA margin growth EBITDA margin ~ +0.5pp Sartorius Group ~ 9% - 12% ~ 12% - 15% ~ +0.5pp vs. FY17: 25.1% ~ +0.5pp Bioprocess Solutions ~ 8% - 11
Slide 12: Agenda: Sartorius Stedim Biotech Group
Agenda 01 Sartorius Group: H1 2018 Results | H1 2018 Guidance 02 Sartorius Stedim Biotech Group: H1 2018 Results | H1 2018 Guidance 03 Questions & Answers
Slide 13: Double-digit growth in sales and profit
Double-digit growth in sales and profit Sartorius Stedim Biotech Group in millions of € unless otherwise specified H1 20171 H1 2018 in % in % cc 2 Sales revenue 545.9 585.7 +7.3 +11.1 Order intake 583.0 630.1 +8.1 +11.8 Underlying EBITDA3 146.5 162.8 +11.1 Underlying EBITDA3 margin in % 26.8 27.8 +1
Slide 14: Growth in all regions, Americas with highest momentum
Growth in all regions, Americas with highest momentum Americas EMEA Asia|Pacific Sales by Regions in € millions in € millions in € millions in % 252.1 232.4 202.0 187.1 EMEA ~ 43% 126.4 131.6 Americas ~ 34% ~ €586m H1 17 H1 18 H1 17 H1 18 H1 17 H1 18 +15.3% +9.1% +8.9% Asia|Pacific ~ 23% Acc. to cus
Slide 15: Significant increase in operating cash flow
Significant increase in operating cash flow Sartorius Stedim Biotech Group € in millions unless otherwise specified H1 20171 H1 2018 in % Net operating cash flow driven by higher earnings Underlying EBITDA 146.5 162.8 +11.1 Net investing cash flow reflects Extraordinary items -6.9 -6.3 +8.6 exec
Slide 16: Financial position remains strong
Financial position remains strong Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31, 2017 Jun. 30, 2018 180 1.8 Equity ratio in % 62.6 61.5 150 1.5 120 1.2 Net debt in millions of € 127.1 156.9 90 0.9 60 0.6 Net debt | underlying EBITDA 0.4 0.5 30 0
Slide 17: Higher revenue growth expected for FY 2018
Higher revenue growth expected for FY 2018 FY 2018 Guidance1 Previous New Sales revenue growth 7% - 10% ~ 11% - 14% ~ +0.5pp Underlying EBITDA margin 28.0% vs. FY17: 27.3% CAPEX ratio ~ 15% ~ 15% 1 In constant currencies Growth guidance includes non-organic contribution by recent acquisition of ~
Slide 18: Questions & Answers
Agenda 01 Sartorius Group: H1 2018 Results | FY 2018 Guidance 02 Sartorius Stedim Biotech Group: H1 2018 Results | FY 2018 Guidance 03 Questions & Answers
Slide 19: Thank you very much for your attention
Thank you very much for your attention