Slide 1: Conference Call First-Quarter 2016 Results
Conference Call First-Quarter 2016 Results Joachim Kreuzburg, CEO | April 20, 2016
Slide 2: Disclaimer
Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group and 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 guarante
Slide 3: Agenda
Agenda 01 Sartorius Group: Q1 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group: Q1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 4: Dynamic Start into the Year
Dynamic Start into the Year Strong double-digit growth in sales revenue and earnings BPS posted high growth in a continued dynamic market environment Positive development of LPS division in line with expectations FY 2016 guidance confirmed 4
Slide 5: Double-digit Growth Across All Lines
Double-digit Growth Across All Lines Sartorius Group Q1 Q1 Change Change in millions of € unless otherwise specified 2015 2016 in % in % cc 1 Sales revenue 258.1 301.9 +17.0 +17.9 Order intake 276.1 330.1 +19.6 +20.4 Underlying EBITDA2 57.5 72.3 +25.8 Underlying EBITDA2 margin in % 22.3 24.0 +1.7 pp
Slide 6: Business Expansion Driven by All Regions
Business Expansion Driven by All Regions Americas EMEA Asia | Pacific Sales by Region € in millions € in millions € in millions in % EMEA ~ 46% 139.8 124.1 103.6 Americas ~ 34% 80.7 58.6 53.3 € 301.9mn Asia | Pacific ~ 20 % Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 +28.4% +13.5% +12.3% Acc. to customers‘
Slide 7: BPS: Excellent Performance Yet Again
BPS: Excellent Performance Yet Again Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +24.9% cc +22.8% cc +31.0% +24.2% +22.0% 254.2 61.0 226.9 204.7 186.0 46.5 26.9% 25.0% Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 Very strong organic performance driven by
Slide 8: LPS: Positive Development in Line with Expectations
LPS: Positive Development in Line with Expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +7.6% cc +5.2% cc +3.7% +6.2% +4.0% 71.5 75.9 72.1 75.0 11.0 11.4 15.2% 15.2% Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 Strong demand for consumables such a
Slide 9: Robust Cash Flow Performance
Robust Cash Flow Performance Sartorius Group Q1 Q1 Change Financial result influenced by in millions of € 2015 2016 in % valuation effects of derivatives | Underlying EBITDA 57.5 72.3 +25.8 fx loans – non-cash-effective Prior-year reported net profit Extraordinary items -1.8 -6.2 -243.2 includes
Slide 10: Financial Position Remains Strong
Financial Position Remains Strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Group Dec. 31, Mar. 31, 3.0 2015 2016 375 Equity ratio in % 44.9 44.7 2.0 250 Net debt in millions of € 344.0 356.9 1.0 125 Net debt | underlying EBITDA 1.3 1.3 0 0.0 Q1-Q4 Q1-Q4 Q1-Q4 Q1-Q4 Q1 1 2012
Slide 11: FY 2016 Guidance Confirmed
FY 2016 Guidance Confirmed Sales Revenue Underlying Growth EBITDA Margin ~ 10% - 14% ~ +1 pp Sartorius Group1 vs. FY 2015: 23.6% ~ +1 pp Bioprocess Solutions1 ~ 13% - 17% vs. FY 2015: 26.5% ~ +1 pp Lab Products & Services1 ~ 3% - 7% vs. FY 2015: 16.0% Capex ratio ~ 10% 1 In constant currencies Gui
Slide 12: Agenda
Agenda 01 Sartorius Group: Q1 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group: Q1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 13: Dynamic Start into the Year
Dynamic Start into the Year Sartorius Stedim Biotech Q1 Q1 Change Change in millions of € unless otherwise specified 2015 2016 in % in % cc1 Sales revenue 204.4 245.8 +20.2 +20.9 Order intake 224.1 274.1 +22.3 +23.0 Underlying EBITDA2 50.8 64.6 +27.2 Underlying EBITDA2 margin in % 24.8 26.3 +1.5 pp
Slide 14: Strong Sales Growth Driven by All Regions
Strong Sales Growth Driven by All Regions Americas EMEA Asia | Pacific Sales by Regions Sales in € millions Sales in € millions Sales in € millions in % 114.1 97.3 91.0 EMEA ~ 46% 70.2 36.9 40.7 Americas ~ 37% € 245.8mn Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 +29.3% +18.0% +12.8% Asia | Pacific ~ 17% Ac
Slide 15: Significant Increase in Operating Cash Flow
Significant Increase in Operating Cash Flow Sartorius Stedim Biotech Group Q1 Q1 Change Financial result influenced by in millions of € 2015 2016 in % valuation effects of derivatives | Underlying EBITDA 50.8 64.6 +27.2 fx loans – non-cash-effective Net operating cash flow driven Extraordinary i
Slide 16: Financial Position Remains Very Strong
Financial Position Remains Very Strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31, Mar. 31, 2015 2016 150 2.0 1.5 Equity ratio in % 60.7 60.9 100 1.0 Net debt in millions of € 86.4 76.3 50 0.5 Net debt | underlying EBITDA 0.4 0.3 0 0.0 Q1-Q4 Q1-Q4 Q1-Q4 Q
Slide 17: FY 2016 Guidance Confirmed
FY 2016 Guidance Confirmed Sartorius Stedim Biotech FY Guidance 2016 Sales revenue growth1 ~ 12% - 16% ~ +1 pp Underlying EBITDA margin1 vs. FY 2015: 26.2% Capex ratio ~ 6% - 8% 1 In constant currencies Guidance includes growth of ~ 1.5 pp expected to be contributed by BioOutsource and Cellca 17
Slide 18: Agenda
Agenda 01 Sartorius Group: Q1 2016 Results | FY 2016 Guidance 02 Sartorius Stedim Biotech Group: Q1 2016 Results | FY 2016 Guidance 03 Questions & Answers
Slide 19: Thank you very much for your attention
Thank you very much for your attention