Slide 1: Conference Call Q1 2023 Results
Conference Call Q1 2023 Results Joachim Kreuzburg, Rainer Lehmann, René Fáber Sartorius | Sartorius Stedim Biotech | April 20, 2023
Slide 2: Q1 2023 overview
Q1 2023 overview Demand normalization continues as expected; Q1/23 sales -13%cc below PY; w/o Covid moderate decline Underlying EBITDA margin at 30.1% in line with revenue; focused cost management No significant impact from destocking expected for H2; outlook 2023 confirmed Announced acquisi
Slide 3: Agenda
Agenda Sartorius Group Q1 2023 results | FY 2023 guidance Sartorius Stedim Biotech Group Q1 2023 results | FY 2023 guidance Questions & Answers 3
Slide 4: Ongoing demand normalization as expected
Sartorius Group Ongoing demand normalization as expected Sartorius Group Q1 2022 Q1 2023 in % in % cc1 in millions of € unless otherwise specified Sales revenue 1,025 903 -11.9 -13.2 Order intake 1,112 765 -31.2 -32.0 Underlying EBITDA2 349 272 -22.1 Underlying EBITDA2 margin in % 34.1 30.1 -3.9pp U
Slide 5: Navigating through volatility: Temporary decline in perspective
Sartorius Group Navigating through volatility: Temporary decline in perspective vs. Q1 19 vs. Q1 20 Sales revenue +105% +76% Order intake +57% +21% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2020 2021 2022 2023 Sales ex Covid Covid-19-related sales Order intake 5
Slide 6: Demand normalization throughout all geographies
Sartorius Group Demand normalization throughout all geographies Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % -14.0% -11.7% -14.5% EMEA Americas ~ 40% ~ 36% 401 359 359 322 264 222 €903m Asia|Pacific Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 ~ 24%
Slide 7: Bioprocess Solutions business below high comps
Sartorius Group Bioprocess Solutions business below high comps Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions -36.1% cc -16.1% cc -26.0% -35.3% -14.7% 890 815 350 90 695 300 293 80 576 250 217 70 200 60 150 36.0 50 100 31.2 40 50 30 0 20 Q1 2022 Q1 20
Slide 8: Lab Products & Services' sales revenue close to high prior-year level
Sartorius Group Lab Products & Services‘ sales revenue close to high prior-year level Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions -15.8% cc -2.0% cc -1.7% -15.1% -0.9% 223 210 208 189 56 55 26.5% 26.3% Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 202
Slide 9: Cash flow influenced by earnings development and CAPEX
Sartorius Group Cash flow influenced by earnings development and CAPEX Sartorius Group Q1 2022 Q1 2023 in % in millions of € unless otherwise specified Underlying EBITDA 349 272 -22.1 Extraordinary items driven by structuring Extraordinary items -6 -19 -234.5 measures, integrations, corporate proj
Slide 10: Very sound balance sheet and financial KPI
Sartorius Group Very sound balance sheet and financial KPI Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, March 31, Sartorius Group 2,500 4.0 2022 2023 2,000 3.0 Equity ratio in % 38.1 36.7 1,500 2.0 1,000 Net debt in millions of € 2,375 2,452 1.0 500 0 0.0 Net debt | u
Slide 11: Outlook 2023 confirmed
Sartorius Group Outlook 2023 confirmed Guidance 2023 1 Sales revenue growth (in %) Underlying EBITDA margin Sartorius Group Low single-digit Around prior-year level excluding Covid-related business High single-digit thereof from acquisitions ~1pp Bioprocess Solutions Low single-digit Around prior-ye
Slide 12: Agenda
Agenda Sartorius Group Q1 2023 results | FY 2023 guidance Sartorius Stedim Biotech Group Q1 2023 results | FY 2023 guidance Questions & Answers 12
Slide 13: Announced acquisition of Polyplus – closing expected in Q3 2023
Sartorius Stedim Biotech Group Announced acquisition of Polyplus – closing expected in Q3 2023 HQ in Strasbourg, France; Portfolio Locations in Belgium, U.S., China Transfection as well as other DNA|RNA delivery reagents ~270 employees Plasmid DNA in high quality and GMP grade GMP manufacturing
Slide 14: Further enhance relevance of portfolio for advanced therapies
Sartorius Stedim Biotech Group Further enhance relevance of portfolio for advanced therapies 2023 2019 2021 2021 2022 Polyplus1 Biological Industries CellGenix Xell Albumedix (acquisition announced) Cell culture Growth factors Media Recombinant Transfection reagents media and cytokines and supplemen
Slide 15: Ongoing demand normalization as expected
Sartorius Stedim Biotech Group Ongoing demand normalization as expected Sartorius Stedim Biotech Group Q1 2022 Q1 2023 in % in % cc1 in millions of € unless otherwise specified Sales revenue 862 726 -15.8 -17.2 Order intake 950 601 -36.7 -37.5 Underlying EBITDA2 304 220 -27.5 Underlying EBITDA2 marg
Slide 16: Demand normalization throughout all geographies
Sartorius Stedim Biotech Group Demand normalization throughout all geographies Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % -15.6% -16.2% -21.1% EMEA Americas 349 ~ 41% ~ 35% 294 297 258 220 €726m 171 Asia|Pacific ~ 24% Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1
Slide 17: Cash flow influenced by earnings development and CAPEX
Sartorius Stedim Biotech Group Cash flow influenced by earnings development and CAPEX Sartorius Stedim Biotech Group Q1 2022 Q1 2023 in % in millions of € unless otherwise specified Underlying EBITDA 304 220 -27.5 Extraordinary items driven by structuring Extraordinary items -2 -18 -861.2 measures
Slide 18: Very sound balance sheet and financial KPI
Sartorius Stedim Biotech Group Very sound balance sheet and financial KPI Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA 1,200 1.8 Dec. 31, March 31, Sartorius Stedim Biotech Group 2022 2022 1,000 1.5 800 1.2 Equity ratio in % 49.6 48.2 600 0.9 400 0.6 Net debt in millions of €
Slide 19: Outlook 2023 confirmed
Sartorius Stedim Biotech Group Outlook 2023 confirmed Guidance 20231 Sales revenue growth (in %) Underlying EBITDA margin Sartorius Stedim Biotech Group Low single-digit Around prior-year level excluding Covid-related business Mid to high single-digit thereof from acquisitions ~1pp Covid-related b
Slide 20: Questions & Answers
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Slide 21: Disclaimer
Disclaimer This presentation contains statements concerning the future performance of the Sartorius and the Sartorius Stedim Biotech Groups. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee tha