Sartorius AG · XETR:SRT
Sartorius — Sartorius Stedim Biotech — Shareholder Meeting (March 2022)
28 slides from Sartorius's shareholder meeting presentation, Mar 29, 2022
Slide 1: Combined Annual General Shareholders' Meeting of Sartorius Stedim Biotech
Combined Annual General Shareholders' Meeting of Sartorius Stedim Biotech March 29, 2022 1
Slide 2: Opening of the meeting
Opening of the meeting Joachim Kreuzburg
Slide 3: Agenda
Agenda Ordinary Shareholders' Meeting 1 Report of the Chairman of the Board and CEO Resolutions Nos. 1–16 Extraordinary Shareholders' Meeting 2 Resolutions Nos. 17–26
Slide 4: Report of the Chairman of the Board and CEO
Report of the Chairman of the Board and CEO Joachim Kreuzburg
Slide 5: 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
Slide 6: 2021 was an intense and at the same time highly successful year
2021 was an intense and at the same time highly successful year Sharp increase in sales revenue, earnings and number of employees Significant investments in production capacities Strengthening of product portfolio through acquisitions Ambitious targets set for growth, profitability and susta
Slide 7: Strong core business, additional demand from coronavirus vaccines, strained supply chains
Strong core business, additional demand from coronavirus vaccines, strained supply chains Order intake1 Sales revenue1 EBITDA & margin2 Earnings per share3 in millions of € in millions of € in millions of € in € +55.6% +52.6% +70.9% +79.2% 3,664.4 7.46 2,887.0 1,033.4 2,381.0 4.16 1,910.1 604.7 35.8
Slide 8: Dynamic business development in all regions
Dynamic business development in all regions Americas EMEA Asia | Pacific Sales by region € in millions € in millions € in millions in % +45.8% +57.5% +54.6% 1,199.3 EMEA Americas ~41% ~33% 946.0 761.0 741.7 €2,887.0m 670.2 478.9 Asia | Pacific ~26% 2020 2021 2020 2021 2020 2021 Acc. to customers‘ lo
Slide 9: Substantial investments in the expansion of global capacities
Substantial investments in the expansion of global capacities Significant CAPEX ratios France China several sites Beijing CAPEX in millions of € | ratio in % 100 600 USA 90 Marlborough 500 80 South Korea Songdo 70 400 60 324 Germany 50 300 Göttingen Puerto Rico Guxhagen 40 Yauco 177 159 200 136 30 1
Slide 10: Robust financial indicators; low dynamic debt ratio
Robust financial indicators; low dynamic debt ratio Key financial indicators Net Debt and net debt to underlying EBITDA 600 1.8 Dec. 31, Dec. 31, Sartorius Stedim Biotech Group 2020 2021 500 1.5 400 1.2 Equity ratio 51.1 43.9 in % 300 0.9 Net debt 200 0.6 527.3 401.9 in millions of € 100 0.3 Net deb
Slide 11: Number of employees increases by almost 38% to around 10,400
Number of employees increases by almost 38% to around 10,400 Strong growth in workforce Integration an ongoing task Mix of experience and fresh ideas Number of employees 3,800+ new colleagues Length of employment ~1,300 additional jobs 137 3,687 26% created on avg. per year Between 5 and 15 years 63
Slide 12: Becoming more international, younger and more female
Becoming more international, younger and more female International workforce Many employees younger than 40 Proportion of women to rise further Employees by nationality Workforce by age group Relatively high proportion of women at the senior management levels ~3,050 2,613 ≤29 Percentage of the entir
Slide 13: Recent acquisitions make us an even more relevant partner across the biopharma production workflow
Recent acquisitions make us an even more relevant partner across the biopharma production workflow Expanded portfolio in areas where we Downstream processing Cell and gene therapies used to have a limited offering Chromatography systems for smaller Cell culture media and components for the (e.g.,
Slide 14: Balance sheet of the parent company
Balance sheet of the parent company Balance sheet structure in millions of € and % as of Dec. 31, 2021 Equity and Assets liabilities 43.9% 36.8 13.9% 150 116.3 100 50 56.1% 148.6 228.1 86.1% Current assets Total liabilities Non-current assets 264.9 264.9 Equity 14
Slide 15: Development of Sartorius Stedim Biotech shares
Development of Sartorius Stedim Biotech shares 250% Performance 2021 SSB Sartorius Stedim Biotec 225% SSB +65.7% MSCI Europe CAC Large 60 +27.1% CAC Large 60 200% MSCI Europe +19.9% 175% 150% 125% 100% 75% Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 As of March 21, 2022; share prices of
Slide 16: Dividend proposal: Total profit distributed would increase by around 85%
Dividend proposal: Total profit distributed would increase by around 85% Dividend per share in € 1.26 Total profit distributed €116.1mn 0.68 0.68 0.57 Payout ratio3 16.9% 0.42 0.46 0.33 0.34 1 2 2015 2016 2017 2018 2019 2020 2021 1 The original dividend proposal of €0.68 per share had been adjusted
Slide 17: Sustainability is an integral part of our corporate purpose
Sustainability is an integral part of our corporate purpose Our mission We empower scientists and engineers to Good health and well-being simplify and accelerate progress in life science at the focus of our and bioprocessing, enabling the development business activities of new and better therapies a
Slide 18: Sustainability aspects affect the entirety of corporate activities
Sustainability aspects affect the entirety of corporate activities Governance Ethics Our ambition: Water Reduction of CO2 emission intensity by ~10% p.a. Human rights Corporate Climate In general, SSB achieves very solid results in sustainability ratings, e.g. sustainability Diversity Biodiversity L
Slide 19: Ambitious target: Reduction of CO2 emission intensity by ~10% per year
Ambitious target: Reduction of CO2 emission intensity* by ~10% per year * = Emissions in proportion to sales Strong company growth sets technical limits to absolute (gross) CO2 emission reduction; CO2 emission intensity the more meaningful figure Ambitious targets also compared to other initiati
Slide 20: Forecast for 2022: Double-digit sales growth, sustained high profitability
Forecast for 2022: Double-digit sales growth, sustained high profitability; uncertainties concerning the outlook remain on an elevated level Guidance 20221 Sales revenue growth Underlying EBITDA margin Sartorius Stedim Biotech Group ~15% - 19% >35% thereof from acquisitions ~2pp Pandemic-related b
Slide 21: Continued focus on applications in life sciences and biopharma
Continued focus on applications in life sciences and biopharma Culture media Seed Scale-up Production preparation cultivation Upstream Downstream Final Cryo- Sterile Concen- Virus clearance & Chroma- Clarification & filling preservation filtration tration filtration tography centrifugation 21
Slide 22: Megatrends in our target markets offer strong growth opportunities
Megatrends in our target markets offer strong growth opportunities Growing and aging population1 Biologics are gaining importance2 9 billion people by 2050 World population over age 60 in 2050 Sales share of biologics in 2026 >2bn ~37% ~10% CAGR for the biopharma market in 2021–2026 World population
Slide 23: Customers' development activities are becoming more diverse
Customers' development activities are becoming more diverse Growing R&D pipeline with increasing Biopharmaceutical approaches are Biosimilars and Advanced Therapies share of biotechnology becoming more diverse and complex are growing particularly fast Modalities in biopharma R&D pipeline CAGRs 2021–
Slide 24: Innovative therapeutics need innovative technologies
Innovative therapeutics need innovative technologies – We offer solutions for efficient and accelerated processes Developing a new drug is time-consuming and costly, and Novel bioprocessing technologies increase quality, efficiency manufacturing is complex and productivity >€2bn average costs of dev
Slide 25: Our innovation activities are based on three pillars
Our innovation activities are based on three pillars Constantly accelerating speed of innovation in Research activities in key technologies and biotech and life sciences application areas Specialized product development 1 in areas of strong own core competencies Analytical Data New Cell Technologies
Slide 26: The U.S. and Asia are the main focus of our regional growth strategy
The U.S. and Asia are the main focus of our regional growth strategy Development of sales by region Sales share 2021 | CAGR 2011–2021 Markets U.S.: Highly innovative market, further potential for market share gains Asia | Pacific Asia: Strong growth in China, Korea and other countries ~26% | ~+2
Slide 27: 2025 ambition – Updated profitability target
2025 ambition – Updated profitability target Sartorius Stedim Biotech Group Sales €4bn 2025 revenue target is based on the assumption of no net revenue unchanged pandemic-related sales (vs. €500m in FY21 and FY22) The margin target includes expenses for reduction of the EBITDA >35% company’s CO2
Slide 28: Thank you very much for joining us
Thank you very much for joining us
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