Bruker Corporation · NASDAQ:BRKR
Bruker — Jefferies 2018 London Healthcare Conference
21 slides from Bruker's conference presentation, Nov 14, 2018
Slide 1: Bruker Corporation (NASDAQ: BRKR)
Bruker Corporation (NASDAQ: BRKR) Bruker drives profitable growth by enabling scientific discoveries and delivering high-performance analytical, life science and diagnostic solutions. Innovation with Integrity © Bruker Corporation 1
Slide 2: Safe Harbor Statement
Bruker Corporation Safe Harbor Statement Any statements contained in this presentation that do not describe historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectati
Slide 3: Bruker Overview
Bruker Overview Differentiated Leader in Attractive Analytical, Life Science and Diagnostic Tools Markets BIOSPIN NANO Group Group • Founded in 1960, Bruker brand NMR/EPR for Life-Science Atomic Force Microscopy stands for innovation. Fluorescence Microscopy for Cell &Pharma Research Biology & Neuro
Slide 4: Market Leading Positions in Scientific Instruments
Market Leading Positions in Scientific Instruments BRUKER HOLDS #1 OR #2 MARKET POSITION FOR ~70% OF OUR PRODUCT PORTFOLIO NMR & EPR Preclinical Imaging: MRI, MALDI BioTyper for Mass Spec Imaging, Atomic Force Spectroscopy MPI, PET/SPECT, microCT Microbiology Microscopy (AFM) MALDI-TOF & MRMS X-Ray
Slide 5: Bruker Key Objectives
Bruker Key Objectives 1. Accelerate revenue growth: Enhance our revenue growth rate over time with our portfolio transformation initiatives Sustained end market improvements in ACAD/GOV, global Industrial & Applied markets 2. Transform portfolio with six high-growth, high-margin Project Accelera
Slide 6: Bruker Core Strategies
Bruker Core Strategies Portfolio initiatives and cost optimization drive profitable growth Bruker creates shareholder value by: Profitable Being well-positioned in attractive life Growth science tools & diagnostic markets Transforming our portfolio with a focus on six high-growth, high-margin Pr
Slide 7: Portfolio Transformation
Portfolio Transformation Portfolio Fundamentally reshaping the portfolio for faster growth & continued multi-year margin expansion Project Accelerate Initiatives: • Proteomics & Phenomics 2017 results: About 25% of • Biopharma & Applied Bruker’s revenue • Microbiology & Diagnostics Grew above LST ma
Slide 8: Progress with Portfolio Transformation: timsTOF Pro and scimaX
Progress with Portfolio Transformation: timsTOF Pro and scimaX: Enabling Technologies for Clinical Portfolio Proteomics, Clinical Phenomics & BioPharma New products and novel workflows to “The development of the scimaX will surely fundamentally change life science research by be a game-changer for
Slide 9: timsTOF Pro for 4D LC-TIMS-MS/MS with PASEF in proteomics research
Progress with Portfolio Transformation: timsTOF Pro for 4D LC-TIMS-MS/MS with PASEF in Portfolio proteomics research Ushering in a new era for ultra-high sensitivity and high-throughput proteomics Structural Biology by GHz-Class NMR Melvin Park, Inventor of TIMS; Matthias Mann, Inventor of PASEF © B
Slide 10: Advantages of timsTOF Pro with Online PASEF
Progress with Portfolio Transformation: Advantages of timsTOF Pro with Online PASEF Portfolio High speed with Predicting the utility of 1 50x improvement in 2 Proven robustness 3 sensitivity 4 CCS values signal-to-noise ratios Structural Biology by GHz-Class NMR © Bruker Corporation Courtesy of Prof
Slide 11: MRMS launch at ASMS 2018
Progress with Portfolio Transformation: MRMS launch at ASMS 2018 Portfolio Magnetic Resonance Mass Spectrometry (MRMS) MS Imaging for • ESI & MALDI (1 sec switch) drug development • Industry-leading mass resolution (20 million extreme resolution) Native MS for • Structural Routine, Biology broadband
Slide 12: Hain acquisition adds breadth and new growth drivers
Progress with Portfolio Transformation: Hain acquisition adds breadth and new growth drivers to Portfolio Bruker’s microbiology & diagnostics portfolio • Established Hain MDx portfolio of mycobacteria tests for TB screening and resistance testing • MDx assay portfolio for microbial and viral pathoge
Slide 13: Operational Excellence Example: New products drive growth at Optics
Operational Operational Excellence Example: Excellence New products and operational excellence drive growth at Optics Portfolio Solid foundation built on product innovation, operational and commercial execution Steady stream of new products targeting attractive academic, applied and industrial m
Slide 14: Manufacturing and Final Test Moving to Penang, Malaysia
Operational Operational Excellence Example: Excellence Selected Manufacturing and Final Test Moving to Bruker’s New Portfolio Facility in Penang, Malaysia • New Bruker manufacturing, engineering and final-test center in Penang, Malaysia • Planned transfer of selected Bruker NANO products: • Lower op
Slide 15: Year-To-Date 2018 financials
Bruker Year-To-Date 2018 financials(1) Improved revenue growth and healthy margin expansion drive EPS Revenues Non-GAAP Non-GAAP Operating Margin EPS $1,342 14.5% $1,235 Mil 13.6% Mil $0.86 $0.70 +$107M (+8.6%) +90 bps +23% YTD FY 2017 YTD FY 2018 (1)For the nine months ended September 30, 2018 and
Slide 16: FY 2018 Guidance
FY 2018 Guidance(1): Good revenue growth, further operating margin expansion FY 2018 Guidance 2018 ASSUMPTIONS Organic revenue growth: Revenue Growth y-o-y +6.5% to +7% +3.5% to 4% Acquisition revenue growth: +1.5% Non-GAAP Operating Margin +50 bps to +80 bps FX revenue tailwind: +1.5% Expansi
Slide 17: www.bruker.com
www.bruker.com © Bruker Corporation 17
Slide 18: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (unaudited) (in millions, except per share amounts) Nine Months Ended September 30, 2018 2017 (1) Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before Tax, Non-GAAP Net Income, and Non-GAAP EPS GAAP Operating Inc
Slide 19: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions, except per share amounts) Nine Months Ended September 30, 2018 2017 (1) Reconciliation of GAAP and Non-GAAP Gross Profit GAAP Gross Profit $ 627.2 $ 559.8 Non-GAAP Adjustments: Restructuring Costs 0.8
Slide 20: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions, except per share amounts) Nine Months Ended September 30, 2018 2017 (1) Reconciliation of GAAP and Non-GAAP Earnings Per Share (Diluted) GAAP Earnings Per Share (Diluted) $ 0.65 $ 0.51 Non-GAAP Adjustm
Slide 21: Reconciliation of GAAP to Non-GAAP Financial Measures
Bruker Corporation Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited) (in millions) Nine Months Ended September 30, 2018 2017 Reconciliation of GAAP Reported Revenue Growth to Organic Revenue Growth Total Bruker GAAP Revenue as of Prior Comparable Period $ 1,235.4 $ 1,141.0 Non-GAAP A