Sartorius Ag · XETR:SRT
Sartorius — Q1 2022 Earnings Presentation
19 slides from Sartorius's earnings presentation, Apr 21, 2022
Slide 1: Conference Call Q1 2022 Results
Conference Call Q1 2022 Results Joachim Kreuzburg, Rainer Lehmann Sartorius | Sartorius Stedim Biotech | April 21, 2022
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: Highlights
Highlights ▪ Dynamic start to the year with double-digit growth in sales and earnings in both divisions ▪ Healthy demand situation; normalization of corona-related effects and order intake development as expected ▪ Increase of profitability despite FX headwinds and higher costs for logistics and mat
Slide 4: Agenda
Agenda Sartorius Group Q1 2022 results | FY 2022 guidance Sartorius Stedim Biotech Group Q1 2022 results | FY 2022 guidance Questions & Answers 4
Slide 5: Strong organic growth; further margin increase
Sartorius Group Strong organic growth; further margin increase Sartorius Group Q1 2021 Q1 2022 in % in % cc1 in millions of € unless otherwise specified Sales revenue 791.1 1,024.8 +29.5 +25.4 Order intake 1,138.6 1,112.2 -2.3 -5.8 Underlying EBITDA2 263.5 349.0 +32.4 Underlying EBITDA2 margin in %
Slide 6: Double-digit growth in all regions led by the Americas
Sartorius Group Double-digit growth in all regions led by the Americas Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +32.6% +20.1% +25.2% EMEA ~ 39% Americas ~ 35% 401.2 359.1 334.4 264.5 253.1 203.6 €1,024.8m Asia|Pacific Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q
Slide 7: Bioprocess Solutions: High demand across the portfolio; supply chains remain strained
Sartorius Group Bioprocess Solutions: High demand across the portfolio; supply chains remain strained Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions -9.8% cc +29.2% cc +35.1% -6.6% +33.4% 953.0 889.7 814.6 293.3 610.7 217.1 36.0% 35.6% Q1 2021 Q1 2022
Slide 8: Lab Products & Services: Dynamic development, especially in the bioanalytics business and the U.S.
Sartorius Group Lab Products & Services: Dynamic development, especially in the bioanalytics business and the U.S. Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +15.2% cc +12.4% cc +20.1% +19.9% +16.5% 222.5 210.2 55.7 185.6 180.3 46.4 26.5% 25.7% Q1
Slide 9: Strong cash flow influenced by buildup of inventories
Sartorius Group Strong cash flow influenced by buildup of inventories Sartorius Group Q1 2021 Q1 2022 in % in millions of € unless otherwise specified Underlying EBITDA 263.5 349.0 +32.4 ▪ Cash flow influenced by higher inventories to Extraordinary items -5.1 -5.7 -11.8 support supply security Finan
Slide 10: Robust financial indicators
Sartorius Group Robust financial indicators Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, Mar. 31, Sartorius Group 2,000 4.0 2021 2022 1,500 3.0 Equity ratio in % 30.2 33.1 1,000 2.0 Net debt in millions of € 1,732.7 1,810.8 500 1.0 0 0.0 Net debt | underlying 1.5 1.4
Slide 11: Two acquisitions strenghten portfolio of both divisions
Two acquisitions strenghten portfolio of both divisions LPS: Bioanalytics BPS: Downstream Processing Solutions for automated analysis, selection and isolation of cells Innovative chromatography systems for continuous production within numerous applications processes and systems for small biomolecule
Slide 12: Guidance 2022 confirmed: Double-digit sales growth, sustained high profitability
Sartorius Group Guidance 2022 confirmed: Double-digit sales growth, sustained high profitability; uncertainties yet on a further elevated level Guidance 20221 Sales revenue growth Underlying EBITDA margin Sartorius Group ~15% - 19% ~34% thereof from acquisitions ~2pp Bioprocess Solutions ~17% - 21%
Slide 13: Agenda
Agenda Sartorius Group Q1 2022 results | FY 2022 guidance Sartorius Stedim Biotech Group Q1 2022 results | FY 2022 guidance Questions & Answers 13
Slide 14: Strong organic growth; further margin increase
Sartorius Stedim Biotech Group Strong organic growth; further margin increase Sartorius Stedim Biotech Group Q1 2021 Q1 2022 in % in % cc1 in millions of € unless otherwise specified Sales revenue 655.2 862.5 +31.6 +27.6 Order intake 1,004.4 949.7 -5.5 -8.6 Underlying EBITDA2 231.6 303.7 31.1 Underl
Slide 15: High double-digit sales growth in all regions led by the Americas
Sartorius Stedim Biotech Group High double-digit sales growth in all regions led by the Americas Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +34.7% +22.9% +26.9% EMEA ~ 40% Americas ~ 34% 348.6 293.7 284.1 €862.5m 204.0 220.2 167.1 Asia|Pacific ~ 26% Q1
Slide 16: Strong cash flow influenced by buildup of inventories
Sartorius Stedim Biotech Group Strong cash flow influenced by buildup of inventories Sartorius Stedim Biotech Group Q1 2021 Q1 2022 in % in millions of € unless otherwise specified Underlying EBITDA 231.6 303.7 +31.1 ▪ Cash flow influenced by higher inventories to Extraordinary items -1.7 -1.8 -3.1
Slide 17: Robust financial indicators; low dynamic debt ratio
Sartorius Stedim Biotech Group Robust financial indicators; low dynamic debt ratio Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA 600 1.8 Dec. 31, Mar. 31, Sartorius Stedim Biotech Group 2021 2022 500 1.5 400 1.2 Equity ratio in % 43.9 48.1 300 0.9 200 0.6 Net debt in millions o
Slide 18: Guidance 2022 confirmed: Double-digit sales growth, sustained high profitability
Sartorius Stedim Biotech Group Guidance 2022 confirmed: Double-digit sales growth, sustained high profitability; uncertainties yet on a further elevated level Guidance 20221 Sales revenue growth Underlying EBITDA margin Sartorius Stedim Biotech Group ~15% - 19% >35% thereof from acquisitions ~2pp ▪
Slide 19: Questions & Answers
Questions & Answers 19