Sartorius AG · XETR:SRT

Sartorius — Sartorius Stedim Biotech — Shareholder Meeting (June 2020)

37 slides from Sartorius's shareholder meeting presentation, June 2020

  1. Slide 1: Opening of the meeting

    Opening of the meeting Dr. Joachim Kreuzburg

  2. Slide 2: Agenda

    Agenda Ordinary Shareholders' Meeting 1  Report of the Chairman of the Board and CEO  Resolutions Nos. 1–10 Extraordinary Shareholders' Meeting 2  Resolutions Nos. 11–21

  3. Slide 3: Report of the Chairman of the Board and CEO

    Report of the Chairman of the Board and CEO Dr. Joachim Kreuzburg 3

  4. Slide 4: Disclaimer

    Disclaimer This presentation contains statements concerning the future performance of 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 guarantee that they will actuall

  5. Slide 5: We have coped well with the first phase of the pandemic

    We have coped well with the first phase of the pandemic Our priorities 1. Safety first: Responsibility for over 6,300 employees 2. Ensure delivery capability for our customers 3. Secure financial stability and strength Challenges  Risks of a second wave of infection, global recession, adaption to l

  6. Slide 6: Our products contribute to the development of effective vaccines

    Our products contribute to the development of effective vaccines 180+ companies developing COVID-19 vaccines Most work with Sartorius products 6

  7. Slide 7: Thank you to our customers for their trust and to all employees and suppliers

    Thank you to our customers for their trust and to all employees and suppliers for keeping our business running! 7

  8. Slide 8: 2019 was another year of dynamic profitable growth

    2019 was another year of dynamic profitable growth  Strong 2019 with significant double-digit growth rates – upgraded forecast exceeded  Two strategically important acquisitions  Position as a leading international technology partner of the biopharma industry expanded 8

  9. Slide 9: Dynamic top-line growth; further margin increase

    Dynamic top-line growth; further margin increase Order intake Sales revenue EBITDA1 margin EPS2 €1,543.5mn €1,440.6mn 29.3% 2.85 +16.2% +17.0% +1.1pp +19.9% Growth for OI and sales revenue in constant currencies; 1 Underlying = excluding extraordinary items; 2 Underlying EPS = based on net profit af

  10. Slide 10: Growth in all regions, Asia|Pacific with the highest momentum

    Growth in all regions, Asia|Pacific with the highest momentum Sales revenue Americas €511.6mn | +17.1% EMEA Americas ~ 40% ~ 35% EMEA €575.1mn | +13.0% Asia|Pacific €353.8mn | +23.9% Asia | Pacific ~ 25% Acc. to customers‘ location; growth in constant currencies 10

  11. Slide 11: Very solid balance sheet and financial position

    Very solid balance sheet and financial position Key financial indicators CAPEX ratio 1 in % Sartorius Dec. 31, Dec. 31, Stedim Biotech 2018 2019 14.6 12.6 Equity ratio 66.5% 64.7% 9.4 9.2 7.6 ~8 5.8 6.5 6.2 Net debt €125.7mn €107.7mn Net debt | underlying 0.4 0.3 EBITDA 2012 2013 2014 2015 2016 2017

  12. Slide 12: Balance sheet of the parent company

    Balance sheet of the parent company Balance sheet structure in millions of € and % as of December 31, 2019 Equity and Assets liabilities 87.5 98.8 150 39.0% 44.0% 100 137.0 125.7 50 61.0% 56.0% Current assets Total liabilities Non-current assets 224.5 224.5 Equity 12

  13. Slide 13: Almost 600 new jobs globally

    Almost 600 new jobs globally Number of employees in the Group Employees by region 14% 71% 6500 6300 6,203 Asia | Pacific EMEA 5,637 6100 5900 5,092 5700 5500 4,725 5300 5100 4,202 4900 4700 4500 4300 4100 3900 3,697 3700 3500 3300 3100 2900 2700 2500 15% 2300 2100 1900 1700 Americas 1500 1300 1100 9

  14. Slide 14: Healthy mixture of experience and fresh ideas

    Healthy mixture of experience and fresh ideas Tenure in current role Age distribution in the Group 32% 51% 20% 22% 5-15 years <5 years ≤29 years ≥50 years 6,203 6,203 17% 34% 24% >15 years 30-39 years 40-49 years 14

  15. Slide 15: Two acquisitions significantly strengthen our position in key technologies

    Two acquisitions significantly strengthen our position in key technologies Chromatography systems Chromatography columns Chromatography resins TFF systems Cell culture media Microcarriers 15

  16. Slide 16: Q1 2020: Very strong start into the year; high demand across all product categories

    Q1 2020: Very strong start into the year; high demand across all product categories and geographies Order intake Sales revenue EBITDA1 margin EPS2 €534.8mn €422.1mn 30.0% 0.87 +39.3% +22.3% +1.4pp +19.9% Growth for OI and sales revenue in constant currencies; 1 Underlying = excluding extraordinary i

  17. Slide 17: Outlook for 2020 positive, but higher uncertainty than usual

    Outlook for 2020 positive, but higher uncertainty than usual FY 2020  Sales guidance includes non-organic contribution 2019 of Biological Industries of ~2pp and of the Danaher Guidance1 Life Science portfolio of ~3pp (for 8 months) Sales revenue  Slight margin dilution by Biological Industries and

  18. Slide 18: Shares have risen substantially

    Shares have risen substantially 320% Performance 2019 SSB + 69.1% 270% NASDAQ Biotech +24.4% CAC Mid 60 + 19.2% SBF 120 +25.2% Sartorius Stedim Biotech 220% NASDAQ Biotech CAC Mid & Small 170% SBF 120 120% 70% Jan-19 Mar-19 May-19 Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 As of June 23, 2020; share

  19. Slide 19: Dividend proposal (1)

    Dividend proposal (1)  Initial dividend proposal has been adjusted in light of the ongoing pandemic crisis  Expectation of ongoing considerable uncertainties and risks  At the same time, the current situation may offer additional opportunities for strengthening the portfolio by innovative technol

  20. Slide 20: Dividend proposal (2)

    Dividend proposal (2) Dividends per share in € 0.68 0.57 0.46 0.42 0.33 0.34 0.22 1 2014 2015 2016 2017 2018 2019  Total profit distributed of €31.3mn (2018: 52.5mn), payout ratio2 of 11.9% (2018: 24.0%) Figures for 2014-15 adjusted for stock split; rounded values; 1 Subject to approval by the AGM;

  21. Slide 21: We are led by a clear mission

    We are led by a clear mission At Sartorius Stedim Biotech, we empower engineers to simplify and accelerate progress in bioprocessing. In this way, we enable new and better pharmaceuticals to be manufactured and help keep medications affordable. 21

  22. Slide 22: Covering most steps of the biopharma process chain

    Covering most steps of the biopharma process chain Culture media Seed Scale-up Fermentation | preparation cultivation Cell cultivation UPSTREAM DOWNSTREAM Final Cryo- Sterile Concen- Virus Chroma- Viral Clarification & filling preservation filtration tration filtration tography clearance centrifugat

  23. Slide 23: Continuous portfolio expansion through complementary acquisitions

    Continuous portfolio expansion through complementary acquisitions 2013 2014 2015 2016 2017 2018 2019 2020 TAP AllPure Bio Cellca kSep Umetrics Biological Life Science assets Biosystems Technologies Outsource Industries from Danaher 23

  24. Slide 24: Strong positioning in a fast-growing market

    Strong positioning in a fast-growing market Favorable 9bn people by 2050; demographics >2bn 60 yrs or older Rise of ~30% CAGR for biosimilar ~8% CAGR biosimilars sales 2019–2022 for biopharma market 2019–2025 Strong R&D pipeline; advances in gene and >40% share of biologics in pharma R&D pipeline ce

  25. Slide 25: High innovation dynamics in Biopharma

    High innovation dynamics in Biopharma Development of new Increased efficiency New tools and Future drug drugs and vaccines possible in the methods required manufacturing is must be accelerated, production of 'classic' e.g. for novel cell and more automated, e.g. through more biopharmaceuticals gene

  26. Slide 26: Rapidly growing importance of the Chinese market

    Rapidly growing importance of the Chinese market  Huge market potential due to population size  SSB with long-standing local presence; and growing average demand further expansion planned  Rapid change from traditional Chinese medicine to innovation in biopharma Beijing Biologics market ~15% grow

  27. Slide 27: Sartorius Stedim Biotech 2025 targets and initiatives

    Sartorius Stedim Biotech 2025 targets and initiatives Strategic initiatives 2025 targets Regional  Participate in strong Chinese market growth  Continue to outperform in the important U.S. market ~€2.8bn Portfolio Sales revenue  Add high-impact innovation, e.g. digital tools  Enhance process dev

  28. Slide 28: Better health is our driving sustainability goal

    Better health is our driving sustainability goal; we also engage in further sustainability initiatives Product stewardship Climate strategy Sustainability in supply chains First company of the industry to Starting 2021 major European Assessment of suppliers’ have signed the European sites will be ru

  29. Slide 29: Sartorius Stedim sharpens its brand image

    Sartorius Stedim sharpens its brand image  New brand positioning reflects strategic positioning and ambition  Revision of the visual appearance and corporate colors  New, unified logo for Sartorius Stedim and its parent company Sartorius  New brand promise sums up our claim: Simplifying Progress

  30. Slide 30: Ambitous agenda and positive outlook

    Ambitous agenda and positive outlook  Significant growth planned for 2020, uncertainties due to Covid-19  Focusing on integration of the acquired businesses  On track to meet the long-term guidance 2020 initially published in 2012  Further job creation and expansion of research and production ca

  31. Slide 31: Reports by the auditors (topic 2)

    Reports by the auditors (topic 2) John Evans, KPMG 31

  32. Slide 32: Presentation of the voting results

    Presentation of the voting results

  33. Slide 33: Ordinary part (1)

    Presentation of the voting results No. of Ordinary part (1) resolution For1 Against1 1 99.91% 0.09% approved 2 99.99% 0.01% approved 3 100.00% 0.00% approved 1 Relative to number of voices present 33

  34. Slide 34: Ordinary part (2)

    Presentation of the voting results No. of Ordinary part (2) resolution For1 Against1 4 14.54% 85.46% rejected 5 99.99% 0.01% approved 6 93.52% 6.48% approved 7 92.79% 7.21% approved 8 92.37% 7.63% approved 9 94.47% 5.53% approved 10 100.00% 0.00% approved 1 Relative to number of voices present 34

  35. Slide 35: Extraordinary part (1)

    Presentation of the voting results No. of Extraordinary part (1) resolution For1 Against1 11 94.26% 5.74% approved 12 92.01% 7.99% approved 13 92.23% 7.77% approved 14 93.34% 6.66% approved 15 93.62% 6.38% approved 16 95.10% 4.90% approved 17 93.68% 6.32% approved 1 Relative to number of voices pres

  36. Slide 36: Extraordinary part (2)

    Presentation of the voting results No. of Extraordinary part (2) resolution For1 Against1 18 99.30% 0.70% approved 19 94.00% 6.00% approved 20 99.96% 0.04% approved 21 100.00% 0.00% approved 1 Relative to number of voices present 36

  37. Slide 37: Thank you very much for joining us

    Thank you very much for joining us

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