Siegfried Holding Ag · SIX:SFZN
Siegfried — H1 2024 Earnings Presentation
20 slides from Siegfried's earnings presentation, Aug 22, 2024
Slide 1: Siegfried continues to grow and increases profitability
Siegfried continues to grow and increases profitability Half-Year Results 2024 Zofingen, 22 August 2024
Slide 2: Safe harbor statement
Safe harbor statement This document is solely for use in connection with the presentation held by Siegfried Holding AG. It is furnished to you for your information and you may not reproduce it or redistribute to any other person. No representation or warranty, express or implied, is made to, and no
Slide 3: Siegfried continues to deliver growth at expanded margins
Siegfried continues to deliver growth at expanded margins Strong underlying business once more overcompensates headwinds - Net sales up to CHF 619.9 million, an increase of 3.5% in local currencies (2.1% in Swiss Francs) - Core EBITDA increased to CHF 132.1 million (prior year CHF 125.7 million) res
Slide 4: Financial Update
Financial Update 4 | Siegfried H1 2024
Slide 5: Strong underlying business growth
Strong underlying business growth Headwinds overcompensated Comments Low single-digit % - For 2024, we expected to overcompensate the following top line headwinds: >> Market - Phasing out of the vaccines business Vaccines - Destocking Destocking Portfolio opt. - Portfolio optimization: Consciously s
Slide 6: H1 2024: Profitable growth – delivered
H1 2024: Profitable growth – delivered Increased momentum at the two Spanish Drug Products sites Net sales split H1 2024 Change H1 2024 vs H1 2023 CHF million H1 2024 H1 2023 Change Drug Substances 411.1 398.5 +3.2% (+4.3% in LC) Drug Products 208.8 208.6 +0.1% (1.8% in LC) Total 619.9 607.1 +2.1% (
Slide 7: Reconciliation for H1 2024
Reconciliation for H1 2024 From Swiss GAAP FER to Core results CHFm Comments 140 130.7 1.4 132.1 Adjustments to Core EBITDA CHF 1.4m 130 - Current net interest foreign pension plan (CHF 1.4m) 120 110 Adjustments to Core net profit CHF 1.1m 100 - Current net interest foreign pension plan (CHF -1.4m)
Slide 8: Profitability protected and increased
Profitability protected and increased Overcompensated profitable vaccines business, destocking and portfolio optimization CHFm Comments +2.1% 700 H1 2023 - Top line: Growth of 3.5% (2.1% in CHF) 619.9 607.1 H1 2024 600 Vaccines business, destocking and portfolio optimization overcompensated through
Slide 9: H1 2024: Profitability protected and increased
H1 2024: Profitability protected and increased Comments CHF million H1 2024 H1 2023 Net sales 619.9 607.1 - COGS / SG&A: c. CHF 2m of IT cost permanently Cost of goods sold -460.4 -459.4 shifted from COGS to admin & general overhead Core gross profit 159.5 147.7 Marketing and sales costs -9.4 -11.3
Slide 10: Continued to deliver significant improvement in operating cash flow
Continued to deliver significant improvement in operating cash flow First contributions from net working capital improvement project Comments CHF million H1 2024 H1 2023 Operating cash flow before changes in NWC 124.8 119.5 - Substantial increase of operating cash flow and free cash Change in NWC -5
Slide 11: Sustainability is one of our five core values
Sustainability is one of our five core values We are an ESG leader in the CDMO industry Our focus areas Greenhouse gas (GHG) Customers sustainability Evolving reporting standards reduction offerings - SBTi 1 validation of GHG - Roll-out of sustainability Preparing the organisation to reduction targe
Slide 12: Outlook
Outlook 12 | Siegfried H1 2024
Slide 13: We continue to deliver our strategy EVOLVE
We continue to deliver our strategy EVOLVE Grafton will further accelerate our growth story Grow existing core Add adjacencies Enter and grow new areas - Small molecule DS and DP - Formulation and aseptic fill - DS Antibodies & finish of large molecules - Complex chemistry - Cell & gene therapy (CGT
Slide 14: The Siegfried Acceleration Hub is in business
The Siegfried Acceleration Hub is in business Expanding our offering in the US and strengthening service portfolio globally - CDMO specialized in early-phase development and manufacturing services in Grafton, Wisconsin (US) - Strengthening Siegfried's customer offering for Drug Substances in terms o
Slide 15: Capturing attractive opportunities already at early clinical stages
Capturing attractive opportunities already at early clinical stages Customers will benefit from synergies across all development phases all the way to commercial production Launch, Pre-clinical Discovery Phase-II Phase-III life cycle / Phase-I mgt. Out of Siegfried‘s Increasing number of To da
Slide 16: Fully exploiting our asset base and preparing for further growth
Fully exploiting our asset base and preparing for further growth Continued focus on commercial and operational excellence as well as portfolio optimization Operational excellence Commercial excellence Portfolio optimization Free up and de-risk bottlenecks as Optimize working capital Allocate high va
Slide 17: Siegfried's journey goes on
Siegfried’s journey goes on Continuously delivering profitable growth Investing in our global network and executing value-adding M&A Positive mid-term outlook confirmed - Delivering our strategy EVOLVE - Continued profitable growth at or above market (excluding M&A) - Optimizing our portfolio of pro
Slide 18: Thank you for your attention
24 October 2024 Capital Markets Day Site visit 18 February 2025 FY Results Thank you for 10 April 2025 AGM your attention 18 | Siegfried H1 2024
Slide 19: Q&A | Siegfried H1 2024
19 | Siegfried H1 2024 Siegfried |
Slide 20: Learn more about Siegfried
Learn Download our Annual Reports Visit our investors portal Learn more about Siegfried’s offering more about Siegfried Read more Read more Read more 20 | Siegfried H1 2024