Bruker Corporation · NASDAQ:BRKR
Bruker — Deutsche Bank Healthcare Conference 2019
18 slides from Bruker's conference presentation, May 7, 2019
Slide 1: Bruker Corporation (Nasdaq: BRKR)
Bruker Corporation (Nasdaq: BRKR) Bruker drives customer success and profitable growth by enabling scientific discoveries and delivering high-performance analytical, life science, pharmaceutical and diagnostic solutions. Innovation with Integrity © Bruker Corporation
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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Security Exchange Act of 1934, as
Slide 3: Bruker Overview
Bruker Overview Differentiated Leader in Attractive, Diverse Life Science and Diagnostic Tools Markets Bruker revenue breakdown, % of FY 2018 revenue(1): BIOSPIN Group NANO Group Europe • Founded in 1960, Bruker brand stands Magnetic Resonance: Advanced X-Ray for innovation NMR, EPR, Atomic Force Mi
Slide 4: Key Objectives for 2019-2023
Bruker Key Objectives for 2019-2023 1. Accelerate revenue growth • Enhance organic revenue growth with Project Accelerate initiatives Proteomics & Phenomics After-Market Biopharma & Applied 2. Transform portfolio with six high-growth, high-margin Project Accelerate initiatives Next-gen Nanotech Micr
Slide 5: Portfolio Transformation
Portfolio Transformation Portfolio Reshaping our portfolio for faster growth and higher margins* 2018 2019E 2020E 2021E 2022E 2023E Proteomics & timsTOF Pro Proteomics, 1.0 GHz NMR Phenomics Mass spec based Phenomics, 1.2 GHz NMR Biopharma & Advanced NMR and mass spec solutions for biologics and sma
Slide 6: First 1.1 GHz High-Resolution NMR Magnet for Structural Biology Introduced at ENC 2019
UPDATE ON PROJECT ACCELERATE: First 1.1 GHz High-Resolution NMR Magnet for Structural Biology Introduced at ENC 2019 New World Record: Stable, high-resolution 1.1 GHz NMR Utrecht University; Max Planck Institute for Biophysical Chemistry in The Netherlands Goettingen, Germany superconducting magnet
Slide 7: timsTOF Pro at US HUPO and EUPA 2019
UPDATE ON PROJECT ACCELERATE: timsTOF™ Pro at US HUPO and EUPA 2019: Progress in TIMS/PASEF Methods for Record-breaking Throughput and Ultra-High Sensitivity in 4D Proteomics • Next-gen 4D Proteomics: 4D ‘match between runs’ and DIA-PASEF using Collision Cross- Sections (CCS) for exceptional complet
Slide 8: Q1 2019: Solid revenue growth, margin improvement and EPS growth
Q1 2019: Solid revenue growth, margin improvement and EPS growth Q1 2019 Performance Year-over-Year Q1 Financials Revenues [$M] +6.9% Revenues increase +$30M, or +6.9% −Organic growth +5.5%, with BSI up +5.5%, and BEST up +5.4% −Acquisitions add +6.0% −Constant currency growth +11.5% −Negative FX
Slide 9: 2015 to 2018 Financials
Bruker 2015 to 2018 Financials Accelerating revenue growth and healthy margin expansion drive EPS Revenue Non-GAAP Operating Margin(1) Non-GAAP EPS(1) $1.90B 16.8% $1.40 $1.77B 15.9% 15.0% $1.19 $1.21 $1.62B $1.61B 13.5% $0.89 FY 2015 FY2016 FY 2017 FY 2018 FY 2015 FY2016 FY 2017 FY 2018 FY 2015 FY2
Slide 10: Updated FY 2019 Guidance
Updated FY 2019 Guidance*: Further organic revenue growth and operating margin improvement, solid EPS growth FY 2019 Raised Guidance 2019 ASSUMPTIONS Organic revenue growth: +4.5% to +5.5% Revenue Growth y-o-y +7% to +8% Acquisition revenue growth: approximately +5.0% Non-GAAP Operating Margin +
Slide 11: Investor Day
Bruker Investor Day Interested in learning more about Bruker? Join us at our Investor Day: To request an invitation email: Thursday, June 20, 2019 investor.relations@bruker.com Nasdaq MarketSite, New York City 8:00 am -1:00 pm (Doors open at 7:30 am) © Bruker Corporation 11
Slide 12: www.bruker.com
www.bruker.com © Bruker Corporation 12
Slide 13: Q1 2019 Reconciliation of GAAP and Non-GAAP Results Y-o-Y
Q1 2019 Reconciliation of GAAP and Non-GAAP Results Y-o-Y [$M, except EPS] Q1 2019 Q1 2018 GAAP Operating Income 41.9 38.1 Restructuring Costs 4.0 3.5 Acquisition-Related Costs 4.9 1.0 Purchased Intangible Amortization 10.1 6.8 Other Costs 1.4 3.5 TOTAL 20.4 14.8 Non-GAAP Operating Income 62.3 52.9
Slide 14: 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) Twelve Months Ended December 31, 2015 (1) 2016 (1) 2017 (1) 2018 Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before Tax, Non-GAAP Net Income, and Non-GAAP EPS
Slide 15: 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) Twelve Months Ended December 31, (1) 2015 2016 (1) 2017 (1) 2018 Reconciliation of GAAP and Non-GAAP Gross Profit GAAP Gross Profit $ 711.2 $ 745.3 $ 816.0 $ 900.0 Non-GAAP Ad
Slide 16: 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) Twelve Months Ended December 31, (1) 2015 2016 (1) 2017 (1) 2018 Reconciliation of GAAP and Non-GAAP Earnings Per Share (Diluted) GAAP Earnings Per Share (Diluted) $ 0.60 $ 0.
Slide 17: 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) Twelve Months Ended December 31, 2015 (1) 2016 (1) 2017 (1) 2018 Reconciliation of GAAP Operating Cash Flow and Non-GAAP Free Cash Flow GAAP Operating Cash Flow $ 229.2 $ 130.
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) Twelve Months Ended December 31, 2015 (1) 2016 (1) 2017 (1) 2018 (2) Reconciliation of Impact of Adoption of ASU 2017-07 Cost of revenues (2.6) (2.8) (3.0) (2.1) Selling, gene