Slide 1: Conference Call First-Half 2016 Results
Conference Call First-Half 2016 Results Joachim Kreuzburg, CEO | July 25, 2016
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 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group H1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 4: H1 2016 Highlights
H1 2016 Highlights Strong double-digit growth in sales revenue and earnings Excellent performance of Bioprocess Solutions division; order intake ahead of expectations Continued positive development of Lab Products & Services division Recent acquisitions add innovative, complementary technologies to
Slide 5: Double-digit Growth Across All Lines
Double-digit Growth Across All Lines Sartorius Group in millions of € unless otherwise specified H1 2015 H1 2016 in % in % cc 1 Sales revenue 535.3 625.4 +16.8 +18.7 Order intake 577.8 677.6 +17.3 +19.5 Underlying EBITDA2 121.1 153.4 +26.6 Underlying EBITDA2 margin 22.6 24.5 +1.9 pp Underlying EPS 3
Slide 6: All Regions Fuel Expansion
All Regions Fuel Expansion Americas EMEA Asia | Pacific Sales by Region € in millions € in millions € in millions in % 288.1 EMEA ~ 46% 245.9 212.3 172.4 Americas ~ 34% 117.0 125.1 € 625.4m Asia | Pacific ~ 20% H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 +24.7% +18.7% +10.0% Acc. to customers‘ location; gro
Slide 7: BPS: Excellent Performance in a Dynamic Market Environment
BPS: Excellent Performance in a Dynamic Market Environment Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +23.5% cc +23.9% cc +31.0% +21.4% +22.1% 519.2 128.1 469.8 427.9 384.9 97.8 27.3% 25.4% H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 Very strong organic
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 +8.1% cc +5.5% cc +8.4% +5.7% +3.5% 149.9 158.4 150.5 155.7 23.4 25.3 16.3% 15.5% H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 Strong demand especial
Slide 9: Cash Flow Performance Influenced by Portfolio Changes
Cash Flow Performance Influenced by Portfolio Changes Sartorius Group € in millions H1 2015 H1 2016 in % Reported prior-year net profit included gain from Intec divestiture Underlying EBITDA 121.1 153.4 +26.6 Net operating cash flow mainly Extraordinary items -3.8 -9.9 -162.6 influenced by growt
Slide 10: Strong Financial Position
Strong Financial Position Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Group Dec. 31, 2015 Jun. 30, 2016 500 3.03 400 2.42,4 Equity ratio in % 44.9 39.1 300 1.81,8 Net debt in millions of € 344.0 483.9 200 1.21,2 100 0.60,6 Net debt | underlying EBITDA 1.3 1.6 0 00 Q1-Q4 Q1-Q4 Q1
Slide 11: Acquisition Expands LPS Portfolio into Bioanalytics
Acquisition Expands LPS Portfolio into Bioanalytics Award-winning technology for cell screening Strong growth with 2016 FY sales of >$18m expected Break even on underlying EBITDA by end of 2017 targeted Acquired June 28 for $90m including approx. $5m in future tax savings Dynamically growi
Slide 12: A Further Addition to LPS' Bioanalytics Portfolio
A Further Addition to LPS’ Bioanalytics Portfolio Innovative platform for rapid virus quantification Annual sales of >$3m expected for 2016 Planned to break even on underlying EBITDA by end of 2018 Acquired July 15 for ~ $16m Unique bioanalytical tool focusing on applications in virology
Slide 13: Acquisition Complements BPS' Single-use Portfolio
Acquisition Complements BPS‘ Single-use Portfolio Unique single-use centrifugation systems for cell harvest in bioproduction Annual sales of around $7m with a strong EBITDA margin expected for 2016 Perfect fit with BPS’s broad range of single-use products Closing expected by end of July; pur
Slide 14: FY 2016 Guidance Raised
FY 2016 Guidance Raised FY 2016 Guidance 1 Previous New Sales Revenue Underlying EBITDA Sales Revenue Underlying EBITDA Growth Margin Growth Margin Sartorius Group ~ 10% - 14% ~ +1 pp ~ 15% - 18% ~ 25% vs. FY 2015: 23.6% ~ +1 pp Bioprocess Solutions ~ 13% - 17% ~ 19% - 22% ~ 28% vs. FY 2015: 26.5% ~
Slide 15: Agenda
Agenda 01 Sartorius Group: H1 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group: H1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 16: Strong Double-digit Growth at All Levels; OI Ahead of Expectations
Strong Double-digit Growth at All Levels; OI Ahead of Expectations Sartorius Stedim Biotech Group in millions of € unless otherwise specified H1 2015 H1 2016 in % in % cc 1 Sales revenue 422.0 508.8 +20.6 +22.3 Order intake 467.4 558.8 +19.6 +21.6 Underlying EBITDA2 106.5 136.4 +28.0 Underlying EBIT
Slide 17: Considerable Sales Growth Recorded in All Regions
Considerable Sales Growth Recorded in All Regions Americas EMEA Asia | Pacific Sales by Regions in € millions in € millions in € millions in % 231.5 187.9 192.5 EMEA ~ 45% 149.3 80.3 89.3 Americas ~ 37% € 508.8m H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 +27.3 +21.5% +14.8% Asia | Pacific ~ 18% Acc. to cus
Slide 18: Robust Cash Flow Performance
Robust Cash Flow Performance Sartorius Stedim Biotech Group € in millions H1 2015 H1 2016 in % Net operating cash flow influenced by growth related Underlying EBITDA 106.5 136.4 +28.0 increase in working capital Extraordinary items -1.5 -4.8 -224.7 Last year’s net investing cash flow influenced
Slide 19: Financial Position Remains Strong
Financial Position Remains Strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31, 2015 Jun. 30, 2016 150 1.5 1,5 1.5 Equity ratio in % 60.7 59.2 120 1.2 1.2 1,2 90 0.9 0,9 0.9 Net debt in millions of € 86.4 108.6 60 0.6 0,6 0.6 30 0.3 0.3 0,3 Net debt | under
Slide 20: FY 2016 Guidance Upgraded
FY 2016 Guidance Upgraded FY 2016 Guidance Previous New Sales revenue growth1 ~ 12% - 16% ~ 17% - 20% Underlying EBITDA margin1 ~ +1 pp ~ +1.5 pp vs. FY 2015: 26.2% vs. FY 2015: 26.2% 1 In constant currencies Capex ratio ~ 6% - 8% ~ 6% - 8% 1 In constant currencies Guidance includes ~ 2 pp of non-
Slide 21: Agenda
Agenda 01 Sartorius Group: H1 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group: H1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 22: Thank you very much for your attention
Thank you very much for your attention