Sartorius Ag · XETR:SRT
Sartorius — Sartorius Stedim Biotech — Investor Presentation (July 2026)
47 slides from Sartorius's investor presentation, July 2026
Slide 1: Sartorius Stedim Biotech Investor Presentation H1 2026
Sartorius Stedim Biotech Investor Presentation H1 2026
Slide 2: Agenda
Sartorius Stedim Biotech Group Agenda Overview Market and mid-term ambition Portfolio deep dive H1 2026 Results | FY 2026 Guidance 2
Slide 3: Anchored in purpose – Ambitious to shape the future
Sartorius Stedim Biotech Group Anchored in purpose – Ambitious to shape the future Our Better health for more people. Purpose We empower biopharma customers to accelerate drug Our development and enhance manufacturing efficiency Mission for better therapies and more affordable medicine. Our Simplify
Slide 4: Biologics pure play with compelling financial profile
Sartorius Stedim Biotech Group Biologics pure play with compelling financial profile High revenue share with Life Sciences customers ~€3.0bn Sales revenue 2025 ~90% ~13% Sales CAGR 2015-25 Revenue share today 30.8% EBITDA margin1 2015 ~85% Recurring revenues ~€560mn Investments in capacities ~10,300
Slide 5: Unique capabilities make us a leading partner to the biopharma industry
Sartorius Stedim Biotech Group Unique capabilities make us a leading partner to the biopharma industry Strong focus Highly differentiated portfolio; leading market positions in key technologies on biopharma Unique Deep scientific, application and regulatory expertise know-how Trusted Superior and co
Slide 6: Addressing the complex and regulated biopharma value chain
Sartorius Stedim Biotech Group Addressing the complex and regulated biopharma value chain 1 Cell line & process development Creation of a stable cell line; definition of a robust manufacturing process 2 Upstream & downstream production Production, isolation and filling of the desired drug Sartorius
Slide 7: Our solutions for biopharma manufacturing
Sartorius Stedim Biotech Group Our solutions for biopharma manufacturing Our ambition Scalable end-to-end solutions for all biopharmaceutical modalities; More efficient bioprocessing Market leader in single-use technologies Design safe and flexible Media & reagents Bioreactors processes Reduce inves
Slide 8: AI will transform biopharma and accelerate our core business
Sartorius Stedim Biotech Group AI will transform biopharma and accelerate our core business AI is increasing demand for Sartorius Stedim Biotech solutions… …and will make them more powerful and scalable SSB has the instruments, the data and capabilities to unlock value for customers & partners Smart
Slide 9: Advancing our portfolio through a proven three-pillar innovation strategy
Sartorius Stedim Biotech Group Advancing our portfolio through a proven three-pillar innovation strategy Own product development Cooperations Acquisitions in areas of core competencies with customers, research institutes, start- of complementary and ups, and industry-leading experts differentiating
Slide 10: Benefitting from growth across all modalities
Sartorius Stedim Biotech Group Benefitting from growth across all modalities Sartorius Stedim Biotech offers …with the risk profile of a solutions provider exposure to all biopharma modalities… Picks-and-shovels model: Monoclonal Mission-critical tools across development and manufacturing Biosimilar
Slide 11: Clear focus and strong positioning drive profitable growth above market
Sartorius Stedim Biotech Group Clear focus and strong positioning drive profitable growth above market Sales revenue; EBITDA margin1 Sartorius Stedim Biotech playbook CAGR ~13% ▪ Win customers in early R&D and follow molecules through development to become ~€3.0bn embedded in final production proces
Slide 12: Regulatory validation as a foundation for a resilient business model
Sartorius Stedim Biotech Group Regulatory validation as a foundation for a resilient business model Customer Cell line & process Clinical trials Commercial workflow development production % of Sartorius ~10% ~30% ~60% revenue Business stickiness ▪ Biologic manufacturing processes must be validated a
Slide 13: High share of recurring revenue
Sartorius Stedim Biotech Group High share of recurring revenue Equipment sales as a key enabler for recurring revenue stream ~85% Consumables & reagents Software Service Recurring revenue Large and growing installed base Lock-in within validated manufacturing processes FY 2025 figures 13
Slide 14: Revenues diversified across customers
Sartorius Stedim Biotech Group Revenues diversified across customers Long-term business relationships with leading Limited Limiteddependence dependenceon onindividual individualaccounts accounts global (bio-) pharma companies Sales to Top 50 customers in 2025, € in millions € 1,000 € 800 ~54% ~58% ~
Slide 15: Strong presence in all biopharma regions
Sartorius Stedim Biotech Group Strong presence in all biopharma regions Helsinki Havant Glasgow Umeå Sales revenue by region Stonehouse Royston Malmø Nottingham Göttingen Ann Arbor Cergy Liège Bielefeld Beijing EMEA Americas Illkirch Ulm Guxhagen Marlborough Lourdes Loos Freiburg Songdo~42% ~35% Aub
Slide 16: Infrastructure prepared for the next growth phase
Sartorius Stedim Biotech Group Infrastructure prepared for the next growth phase Recent capex cycle strengthened the global production Capex ratio set to decline network across multiple areas in % of revenue ~13.3% Global resilience ~€2.1bn Redundant capacities Major capex projects 2026 Capex in 202
Slide 17: Attractive end market supports our mid-term financial ambition
Market and mid-term ambition Attractive end market supports our mid-term financial ambition 17
Slide 18: Sustained strong market fundamentals
Sartorius Stedim Biotech Group Sustained strong market fundamentals Growing and aging Growing pharma Shift in medicine Increasing number of population1 market2 to biologics2 drug approvals2,3 >1.6bn ~5% p.a. ~57% 2x Estimated number of growth of global share of biologics in number of approvals4 in p
Slide 19: Broad growth of biologics; rising relevance of new modalities
Sartorius Stedim Biotech Group Broad growth of biologics; rising relevance of new modalities mAbs remain dominant; biosimilars, AT and next gen antibodies Large number of molecules in pipeline: with strong growth from small base New modalities account for ~50% today Revenue by modality (€ bn)1 Numbe
Slide 20: Advanced therapies gaining traction, offering above-average growth potential
Sartorius Stedim Biotech Group Advanced therapies gaining traction, offering above-average growth potential Well-filled and growing pipeline >9,600 candidates in development 2,989 14% New in 2025 2,514 2,283 14% 21% >120 AT approved globally, 13 in 2025 Existing 86% 1,905 21% 12% 79% 79% 88% ~15% CA
Slide 21: R&D and production volumes as structural market growth drivers
Sartorius Stedim Biotech Group R&D and production volumes as structural market growth drivers Addressable market CAGR mid-term1 Opportunities ▪ Biopharma R&D and production volumes continue to grow, driven by expanding pipelines, drug approvals, and rising patient demand ▪ Increasing complexity and
Slide 22: Mid-term ambition: targeting continued profitable growth above market
Sartorius Stedim Biotech Group Mid-term ambition: targeting continued profitable growth above market SSB mid-term ambition2 Addressable market SSB key drivers Above-market Organic sales revenue ul EBITDA margin CAGR mid-term1 of outperformance growth p.a. growth p.a. in cc expansion p.a. ▪ Leadershi
Slide 23: Strategic initiatives launched to strengthen SSBs’ competitive edge
Sartorius Stedim Biotech Group Strategic initiatives launched to strengthen SSBs’ competitive edge Simplifying progress Financial ambition Profitable growth above market, enhanced cash generation, reduced leverage Strategic Portfolio Customer experience Excellence & efficiency initiatives How to add
Slide 24: At a glance: Reasons to invest
Sartorius Stedim Biotech Group At a glance: Reasons to invest Exposure to high-growth Strong market position Sticky business model with biopharma markets with with differentiated end- high share of recurring strong barriers to entry to-end portfolio and revenue innovation leadership Mid-term ambitio
Slide 25: Strong portfolio enabling more efficient drug production
Portfolio deep dive Strong portfolio enabling more efficient drug production 25
Slide 26: Covering most steps of the biopharmaceutical manufacturing process
Sartorius Stedim Biotech Group Covering most steps of the biopharmaceutical manufacturing process ▪ Scalable end-to-end portfolio for all unit operations Culture media Inoculation Seed train Production ▪ Seamless integration of preparation instruments, consumables, and critical raw materials Upstrea
Slide 27: Complete portfolio with differentiated solutions across key technologies
Sartorius Stedim Biotech Group Complete portfolio with differentiated solutions across key technologies Key technologies Sartorius Peer 1 Peer 2 Peer 3 Filtration ▪ Highly concentrated market with four major players holding most of Fluid the share, plus Tier-2/3 players Management across specific se
Slide 28: Focusing on single-use (SU) solutions, which continue to gain share
Sartorius Stedim Biotech Group Focusing on single-use (SU) solutions, which continue to gain share Economic advantages of SU vs stainless steel1 SU has become a standard in clinical production; penetration is set to rise at commercial-scale Stainless steel Single-use Future Today -70% +25% -40% -50%
Slide 29: SSB is driving the adoption of process intensification
Sartorius Stedim Biotech Group SSB is driving the adoption of process intensification Bioprocessing is undergoing SSB drives this trend with innovative solutions for process improvement a transformation COGS Integrated Past continuous -50% processing Batch production platform Productivity x3 Perfusi
Slide 30: Innovation example: Pionic – First modular end-to-end platform for intensified downstream processing
Sartorius Stedim Biotech Group Innovation example: Pionic – First modular end-to-end platform for intensified downstream processing Covers all key downstream unit operations ▪ Designed to transition customers from batch to continuous processing, stepwise or end-to-end ▪ Enables higher throughput, lo
Slide 31: Offering a unique portfolio to capture above-average growth in advanced therapies
Sartorius Stedim Biotech Group Offering a unique portfolio to capture above-average growth in the emerging advanced therapies market Critical Raw Analytics & QC Materials Plasmids Cell Culture Activation Transfection/ Growth Factors & Recombinant Cryopreservation & Media Reagents Delivery Reagents C
Slide 32: Innovation example: bringing together strengths to revolutionize cell therapy manufacturing
Sartorius Stedim Biotech Group Innovation example: SSB is bringing together its strengths to revolutionize cell therapy manufacturing EVEO: The only closed, multi-parallel platform — centralized and decentralized ready >50% Reduction in labor costs Instruments and systems Smart automation >80% Reduc
Slide 33: Sartorius combines hardware, analytics, and AI to turn data into insight
Sartorius Stedim Biotech Group Sartorius combines hardware, analytics, and AI to turn data into insight and process advantage Intelligent bioprocessing solutions to… …collect, monitor and control quality- Faster results New insights critical parameters …analyze data to obtain a better process unders
Slide 34: Agenda
Sartorius Stedim Biotech Group Agenda Overview Market and mid-term ambition Portfolio deep dive H1 2026 Results | FY 2026 Guidance 34
Slide 35: Robust underlying sales performance; tariff headwind; improved profitability
Sartorius Stedim Biotech Group Robust underlying sales performance; non-operational headwind from tariff-related effects; improved profitability Sales revenue | € in millions Ul. EBITDA & margin | € in millions 8.0%1 | +6.4% cc | +2.5% +3.7% 1,527 31.4% 1,490 31.0% 462 479 H1 2025 H1 2026 H1 2025 H1
Slide 36: All regions contribute positively to business development
Sartorius Stedim Biotech Group All regions contribute positively to business development EMEA Americas Asia | Pacific Sales revenue | € in millions Sales revenue | € in millions Sales revenue | € in millions +7.7% cc | +7.6% +5.4%1 | +0.8% cc | -5.4% +12.5% cc | +5.9% 672 625 541 512 323 342 H1 2025
Slide 37: Continued sound cash flow development
Sartorius Stedim Biotech Group Continued sound cash flow development Sartorius Stedim Biotech H1 2025 H1 2026 in % € in millions ▪ Underlying net profit mainly reflects improved Underlying net profit1,2 228 235 +3.1 operating profit Underlying EPS 2.34 2.42 +3.1 ▪ Strong increase in net profit drive
Slide 38: Strong balance sheet; deleveraging ongoing
Sartorius Stedim Biotech Group Strong balance sheet; deleveraging ongoing Key financial indicators Net debt and net debt to underlying EBITDA 4,000 6.0 Sartorius Stedim Biotech Dec. 31, Jun. 30, 5.0 € in millions unless otherwise specified 2025 2026 3,000 4.0 Equity ratio in % 51.7 53.6 2,000 3.0 2.
Slide 39: FY 2026 guidance confirmed
Sartorius Stedim Biotech Group FY 2026 guidance confirmed Operational performance excl. effects from tariff-related FY 2026 guidance Sales revenue growth1 Ul. EBITDA margin customer compensation ▪ Remains robust and largely in line with initial expectations Sartorius Stedim and current trading Biote
Slide 40: Appendix
Appendix 40
Slide 41: Corporate responsibility & further financial information
Sartorius Stedim Biotech Group Corporate responsibility & further financial information To Sartorius, sustainability means operating Please click below for further information: responsibly over the long term – with respect to business partners, employees and society as well as to natural resources.
Slide 42: Share price performance
Sartorius Stedim Biotech Group Share price performance 250% 200% 150% 100% 50% 0% Sartorius (pref.) Sartorius (ord.) Sartorius Stedim Biotech DAX SBF 120 ISIN FR0013154002 Indices SBF 120 | CAC Next 20 | CAC Large 60 | CAC All-Tradable | CAC Ticker DIM All Shares |CAC Healthcare | MSCI Europe | STOX
Slide 43: 2026 as a transition year towards mid-term growth ambition
Sartorius Stedim Biotech Group 2026 as a transition year towards mid-term growth ambition Sales revenue growth, ul. EBITDA margin Market view at the beginning 12 32.2 32 of the year 10 +6-10% 31.8 +9.6% 31.6 8 ▪ Market is showing signs of gradual improvement 31.4 ▪ Equipment business stabilizing, be
Slide 44: Long-term margin upside embedded in the business model
Sartorius Stedim Biotech Group Long-term margin upside embedded in the business model Expected contribution to Mid-term key assumptions Share of cost positions margin development ▪ Increasing capacity utilization; growing 2019 2025 2026e Mid-term consumables contribution Sales 100% 100% ▪ Cost impro
Slide 45: Contacts and Financial calendar
Sartorius Stedim Biotech Group Contacts and Financial calendar Sven Köpsel September 1, 2026 September 21, 2026 Head of Corporate Communications & IR Commerzbank and ODDO BHF RBC Life Science Conf., virtual Corporate Conf., Frankfurt September 22, 2026 +49.551.308.9429 September 2, 2026 Berenberg an
Slide 46: Disclaimer
Sartorius Group Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actual
Slide 47: Simplifying Progress
Simplifying Progress Scan or click here to view this presentation. Scan or click here to view this presentation.
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