Slide 1: Conference Call Nine-Month 2017 Results
Conference Call Nine-Month 2017 Results Joachim Kreuzburg, CEO | October 25, 2017
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: 9M 2017 Results | FY 2017 Guidance 02 Sartorius Stedim Biotech Group: 9M 2017 Results | FY 2017 Guidance 03 Questions & Answers
Slide 4: 9M 2017 Highlights
9M 2017 Highlights Continued profitable growth in a challenging market and FX environment Lab Products & Services continues to develop dynamically driven by strong organic growth and acquisitions Development of the Bioprocess Solutions Division slightly lower than expected due to temporary effects F
Slide 5: Continued profitable growth despite market and FX challenges
Continued profitable growth despite market and FX challenges Sartorius Group in millions of € unless otherwise specified 9M 2016 9M 2017 in % in % cc 1 Sales revenue 965.1 1,043.6 +8.1 +8.6 Order intake 988.2 1,096.4 +11.0 +11.4 Underlying EBITDA2 241.4 259.0 +7.3 Underlying EBITDA2 margin 25.0 24.8
Slide 6: Temporary effects mainly influence Americas region
Temporary effects mainly influence Americas region Americas EMEA Asia | Pacific Sales by Region € in millions € in millions € in millions in % 451.0 427.1 EMEA ~ 43% 331.4 336.1 256.5 Americas ~ 32% 206.6 € 1,043.6m Asia | Pacific ~ 25% 9M 16 9M 17 9M 16 9M 17 9M 16 9M 17 +1.0% +6.3% +24.7% Acc. to
Slide 7: BPS: Temporary effects cause performance to be somewhat below expectations
BPS: Temporary effects cause performance to be somewhat below expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +7.1% cc +4.1% cc +2.2% +6.6% +3.6% 752.5 802.0 752.9 207.0 726.7 202.6 27.9% 27.5% 9M 16 9M 17 9M 16 9M 17 9M 16 9M 17 Relativ
Slide 8: LPS: Dynamic development in line with expectations
LPS: Dynamic development in line with expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +24.9% cc +21.8% cc +34.2% +24.9% +22.0% 294.4 290.7 235.6 51.9 238.4 38.7 17.9% 16.2% 9M 16 9M 17 9M 16 9M 17 9M 16 9M 17 All regions and all product
Slide 9: Cash flow influenced by recent acquisitions
Cash flow influenced by recent acquisitions Sartorius Group € in millions 9M 2016 9M 2017 in % Change in financial result due to valuation effects of derivatives | fx Underlying EBITDA 241.4 259.0 +7.3 loans and debt-rel. interest expenses Extraordinary items -20.2 -21.8 -7.7 Increase in EBITDA
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, 2016 Sep. 30, 2017 1000 3.0 3 800 2.4 2.4 Equity ratio in % 42.0 33.6 600 1.8 1.8 Net debt in millions of € 485.9 911.5 400 1.2 1.2 200 0.6 0.6 Net debt | und
Slide 11: FY 2017 guidance adjusted | mid-term targets confirmed
FY 2017 guidance adjusted | mid-term targets confirmed 9M 2017 FY 2017 Guidance Sales Revenue Underlying Sales Revenue Underlying Growth1 EBITDA Margin Growth1 EBITDA Margin Sartorius Group 8.6% 24.8% ~ 9% ~ 25%2 (prev.: ~ 12% - 16%) (prev.: > +0.5 pp1 vs. FY16: 25.0% ) Bioprocess Solutions 4.1% 27.
Slide 12: Agenda
Agenda 01 Sartorius Group: 9M 2017 Results | FY 2017 Guidance 02 Sartorius Stedim Biotech Group: 9M 2017 Results | FY 2017 Guidance 03 Questions & Answers
Slide 13: Growth somewhat lower than expected due to temporary effects
Growth somewhat lower than expected due to temporary effects Sartorius Stedim Biotech Group in millions of €, unless otherwise specified 9M 2016 9M 2017 in % in % cc 1 Sales revenue 785.1 806.5 +2.7 +3.3 Order intake 806.6 853.0 +5.8 +6.3 Underlying EBITDA2 214.1 216.2 +1.0 Underlying EBITDA2 margin
Slide 14: Different development in the regions
Different development in the regions Americas EMEA Asia|Pacific Sales by Regions in € millions in € millions in € millions in % 342.7 345.9 290.2 272.6 EMEA ~ 43% 187.9 152.2 Americas ~ 34% € 806.5m 9M 16 9M 17 9M 16 9M 17 9M 16 9M 17 -6.3% +2.0% +23.5% Asia | Pacific ~ 23% Acc. to customers‘ locati
Slide 15: Robust cash flow performance
Robust cash flow performance Sartorius Stedim Biotech Group € in millions Change in financial result mainly 9M 2016 9M 2017 in % due to valuation effects of Underlying EBITDA 214.1 216.2 +1.0 derivatives | fx loans Extraordinary items -7.9 -11.9 -49.9 Net operating cash flow developed as expecte
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, 2016 Sep. 30, 2017 180 1.5 1.5 1.5 150 1.2 1.2 1.2 Equity ratio in % 63.9 61.4 120 0.9 0.9 0.9 90 0.6 0.6 0.6 Net debt in millions of € 67.6 149.5 60 30 0.3 0.3 0.3
Slide 17: Outlook for 2017 adjusted | mid-term targets confirmed
Outlook for 2017 adjusted | mid-term targets confirmed 9M 2017 FY 2017 Guidance Sales revenue growth1 3.3% ~4% (prev.: ~ +8% - 12%) ~ 27.5%2 Underlying EBITDA margin 26.8% (prev.: ~ +0.5pp1 vs. FY16: 27.5%) Capex ratio 11.3% ~ 10% - 13% - upper end 1 In constant currencies 2 In actual currencies 2
Slide 18: Agenda
Agenda 01 Sartorius Group: H1 2017 Results | FY 2017 Guidance 02 Sartorius Stedim Biotech Group: H1 2017 Results | FY 2017 Guidance 03 Questions & Answers
Slide 19: Thank you very much for your attention
Thank you very much for your attention