Sartorius AG · XETR:SRT
Sartorius — 24th Baader Small and Mid Cap Conference 2010
36 slides from Sartorius's conference presentation, Oct 28, 2010
Slide 1: 24th Baader Small and Mid Cap Conference, Unterschleissheim
Platzhalter Bild 24th Baader Small and Mid Cap Conference, Unterschleissheim October 28, 2010 Andreas Wiederhold, Team Leader Treasury & Investor Relations
Slide 2: Disclaimer
Disclaimer This presentation contains statements concerning the Sartorius Groups’ future performance. 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 actually materialize. This
Slide 3: Agenda
Agenda • Group Profile • Biotechnology Division Platzhalter Bild • Mechatronics Division • Nine-Month Results and Outlook 2010 • Appendix
Slide 4: Sartorius Runs Two Divisions
Sartorius Runs Two Divisions Biotechnology Division: Mechatronics Division: • Total solution provider for • Total solution provider of laboratory and biomanufacturing process weighing equipment • Focus on single-use technology • The No. 2 worldwide • Market-leading position in filtration, • Strategi
Slide 5: Sartorius Group Structure
Sartorius Group Structure Other Sartorius AG Shareholders 100% approx. 75% approx. 25% Sartorius Mechatronics Sartorius Stedim Biotech Group page 5
Slide 6: Agenda
Agenda • Group Profile • Biotechnology Division Platzhalter Bild • Mechatronics Division • Nine-Month Results and Outlook 2010 • Appendix
Slide 7: Total Solution Provider for the Biopharmaceutical Industry
Total Solution Provider for the Biopharmaceutical Industry • We help our customers to produce biopharmaceuticals in short time, reliably and safely, at low costs, and with high flexibility • Most complete product and service portfolio along the biotech industry’s process chain • Focus on single-use
Slide 8: Products and Solutions Along BioPharma's Process Chain
Products and Solutions Along BioPharma´s Process Chain Media Preparation Fermentation Cell Harvest | Buffer Prep. Vol. Reduction Service program: plant survey, optimization, validation, training Transfer | Capturing | Form & Fill Viral Clearance Storage Polishing Service program: plant survey, optim
Slide 9: Strong Trends Fuel Growth
Strong Trends Fuel Growth Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies • Diseases of civilization page 9
Slide 10: Sustainable Development of the Global Pharma Market
Sustainable Development of the Global Pharma Market In billions of US$ Size and Growth of the Global Pharma Market 975+ • Strongest growth expected from the 4% to 7% “pharmerging markets*”: 800 • The Chinese market remains the fastest growing among the pharmerging markets and is poised to become the
Slide 11: Strong Trends Fuel Growth
Strong Trends Fuel Growth Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies + Trends towards Biotech • Diseases of civilization • MAbs + vaccines dominate Biopharma Market key fields in ph
Slide 12: Biopharma Increases its Portion of the Global Pharma Market
Biopharma Increases it’s Portion of the Global Pharma Market Portion of Biopharma within the Global Pharma Market • Today, biotech within the pharma market 2014: represents approx. 17% of sales, this is supposed to increase to ca. 23% by 2014. 23% • Biotech sales are set to grow 62% between 2009 and
Slide 13: Strong Trends Fuel Growth
Strong Trends Fuel Growth Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies + Trends towards Biotech • Diseases of civilization • MAbs + vaccines dominate Biopharma Market key fields in ph
Slide 14: Single-use Technologies Will Become the Future Industry Standard
Single-use Technologies Will Become the Future Industry Standard + CAPEX reduction Market Penetration of Single-use Products in Potential Applications + Reduced cleaning costs | validation 100% + Downtime reduction, i.e. higher equipment utilization + Enhanced process performance = Reduction of life
Slide 15: Market Position vs. Competition
Market Position vs. Competition Filters Bioreactors Fluid management Market size ~ €750mn ~ €300mn ~ €200mn Market growth Double-digit Single to double-digit Double-digit Market position Among the top 3 Market leader Market leader Main competitors Millipore NBS, Applikon Thermo Fisher Pall ABEC, ...
Slide 16: Agenda
Agenda • Group Profile • Biotechnology Division Platzhalter Bild • Mechatronics Division • Nine-Month Results and Outlook 2010 • Appendix
Slide 17: Global Full-Liner of Weighing Equipment and Control Technology
Global Full-Liner of Weighing Equipment and Control Technology Full range of products for laboratory and industrial applications Global number 2 in weighing technology Global sales, service and production network page 17
Slide 18: From a Weighing Specialist to an Application Expert
From a Weighing Specialist to an Application Expert • Increasing focus on monitoring and control of critical process parameters in the food and pharmaceutical industry • Build-up of a comprehensive product portfolio with process analytical technologies and software solutions • Fast and low-risk expa
Slide 19: Growing Demand for Inline Analytical Technologies
Growing Demand for Inline Analytical Technologies • Shifting of quality control procedures from the laboratory the to production line • Integration of weighing and control technology as well as data management into production processes Source: SDI Study (2005) page 19
Slide 20: Market Overview
Market Overview Laboratory business Industrial business Market size €300mn – 400mn €1.5bn - 2.0bn Market growth ~ 2% - 3% ~ 5% Market position Strong number 2 Leading position Main competitor Mettler Toledo Mettler Toledo Source: own estimates; in our specific market segments page 20
Slide 21: Agenda
Agenda • Group Profile • Biotechnology Division Platzhalter Bild • Mechatronics Division • Nine-Month Results and Outlook 2010 • Appendix
Slide 22: Sartorius Group's Performance within the first 9 Months 2010
Sartorius Group’s Performance within the first 9 Months 2010 In millions of €, unless otherwise specified 9-month 2010 9-month 2009 Order Intake (currency adj. growth) 508.3 (+9.0%) 454.8 Sales Revenue (currency adj. growth) 482.3 (+5.9%) 444.7 Underlying* EBITA (Margin) 58.9 (12.2%) 43.9 (9.9%) Und
Slide 23: Considerable Increase in Order Intake
Considerable Increase in Order Intake In millions of € +11.8% 454.8 508.3 Currency-Adjusted Growth: 500 • Group: +9.0% 450 400 • Biotechnology: +6.4% +9.1% 330.9 350 • Mechatronics: +14.1% 300 303.4 Biotechnology: 250 • Double-digit growth rates with single-use 200 products in Asia | Pacific and Nor
Slide 24: Sales Revenue Growth Reported by Both Divisions
Sales Revenue Growth Reported by Both Divisions In millions of € +8.5% 482.3 Currency-Adjusted Growth: 444.7 450 • Group: +5.9% 400 • Biotechnology: +4.6% +7.0% 318.8 350 • Mechatronics : +8.5% 300 298.0 250 Biotechnology: 200 • Equipment orders are partly not yet reflected 150 +11.4% by sales reven
Slide 25: Sales Revenue by Region – Biotechnology
Sales Revenue by Region – Biotechnology According to customers’ location, in millions of € -1.8% Currency-Adjusted Growth: • Europe: -2.2% 160 • North America: +13.0% 140 • Asia | Pacific: +17.6% 120 +17.3% 100 • As expected, development in Europe was re- 80 strained due to phase-out of extraordinar
Slide 26: Sales Revenue by Region – Mechatronics
Sales Revenue by Region – Mechatronics According to customers’ location, in millions of € +7.8% Currency-Adjusted Growth: • Europe: +7.3% 80 • North America: +5.7% 70 • Asia | Pacific: +10.4% 60 +18.0% 50 • Significant positive sales revenue growth 40 achieved in all regions +9.7% 30 • Strong develo
Slide 27: Underlying EBITA
Underlying* EBITA In millions of € 58.9 +34.1% 55 Underlying* EBITA Margin: 50 43.9 • Group: 12.2% (prev. year: 9.9%) 45 • Biotechnology: 15.7% (prev. year: 15.5%) 40 +8.1% 50.1 • Mechatronics: 5.4% (prev. year: -1.6%) 35 30 46.3 • Positive development mainly due to profitable 25 growth in both divi
Slide 28: Underlying Earnings per Share Strongly Increased
Underlying* Earnings per Share Strongly Increased In € • Underlying* net profit after minority interest: 1,50 1.50 €26.4mn (prev. year: €13.9mn) +90.8% • Unadjusted net profit after minority interest: 1,25 1.25 €20.3mn (previous year: -€7.0mn) 1,00 1.00 0,75 0.75 1.55 0,50 0.50 0.81 0.25 0,25 0,000
Slide 29: Key Financial Figures
Key Financial Figures Sept. 30, 2010 Dec. 31, 2009 Equity Ratio 38.7% 38.9% Net Debt (in millions of €) 226.3 224.7 Gearing 0.7 0.7 Net Debt to Underlying* EBITDA 2.3 2.6 Interest Coverage 13.8 8.6 • Even though we implemented the share buyback program for SSB S.A. in Q2, the equity ratio and net de
Slide 30: 2010 Outlook: Sales Growth Forecast Confirmed, Profit Expectations Slightly Raised
2010 Outlook: Sales Growth Forecast Confirmed, Profit Expectations Slightly Raised Sales Growth Underlying EBITA Margin (currency-adj.) Slightly above 5% Improvement of around 2.5 Sartorius Group (unchanged) percentage points (earlier: 1 to 2 percentage points) Around 5% Around 16% Biotechnology (ea
Slide 31: Thank you very much for your attention.
Platzhalter Bild Thank you very much for your attention. October 28, 2010 Andreas Wiederhold, Team Leader Treasury & Investor Relations
Slide 32: Agenda
Agenda • Group Profile • Biotechnology Division Platzhalter Bild • Mechatronics Division • Nine-Month Results and Outlook 2010 • Appendix
Slide 33: Facts about Sartorius Shares – Shareholding Structure
Facts about Sartorius Shares – Shareholding Structure Ordinary share Preference share 8,9 9 9 Administered by executor 50,1 Family owned 25 Bio-Rad Laboratories Inc. Free float 7 Own shares 91 ISIN Ordinary share: DE0007165607; preference share: DE0007165631 Market segment Prime Standard (technology
Slide 34: Strong Global Presence
Strong Global Presence Sales Production | Production and Sales page 34
Slide 35: Financial Calendar
Financial Calendar • November 22 – 24, 2010 Equity Forum Fall 2010, Frankfurt | Main • February 2011* Publication of preliminary full-year figures for 2010 • March 2011 Annual press conference in Goettingen, Germany • April 20, 2011* Annual Shareholders' Meeting in Goettingen, Germany • April 2011*
Slide 36: Contacts
Contacts Andreas Wiederhold Henriette Meyer Team Leader Treasury & Investor Relations Treasury & Investor Relations Phone: +49.551.308.1668 Phone: +49.551.308.3232 Fax: +49.551.308.3153 Fax: +49.551.308.3153 E-mail: andreas.wiederhold@sartorius.com E-mail: henriette.meyer@sartorius.com Sartorius Cor
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