Sartorius AG · XETR:SRT
Sartorius — Investor Presentation (October 2025)
58 slides from Sartorius's investor presentation, October 2025
Slide 1: Simplifying Progress Investor Presentation
Simplifying Progress Investor Presentation October 2025
Slide 2: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) 9M 2025 Results | FY 2025 Guidance 2
Slide 3: Partner of life science research and the biopharmaceutical industry
Sartorius Group Partner of life science research and the biopharmaceutical industry Our mission We empower scientists and engineers to simplify and accelerate progress in Good health and well-being at life science and bioprocessing, enabling the focus of Sartorius‘ the development of new and better
Slide 4: Sartorius at a glance
Sartorius Group Sartorius at a glance ~€3.4bn Two divisions focused on attractive biopharma and life science Sales revenue markets ~14% Sales CAGR 2014-2024 28.0% 80% Sales 2024 20% Bioprocess Solutions Lab Products & Services EBITDA margin1 Division ~€3.4bn Division ~75% Recurring revenues ~13,500
Slide 5: Track record of profitable sales growth above market
Sartorius Group Track record of profitable sales growth above market Sales revenue; EBITDA margin1 CAGR 14% Proven growth strategy driving share gains ~€3.4bn Increase share of wallet by addressing critical steps at customers Strong focus on recurring revenue Solution offering capitalizes on c
Slide 6: Simplifying progress: Enabling the discovery and production of biopharmaceuticals
Sartorius Group Simplifying progress: Enabling the discovery and production of biopharmaceuticals Bioprocess Solutions Division Molecule Cell line and Upstream & development process development downstream production Quality | Testing | Validation Lab Products & Services Division 6
Slide 7: Attractive market environment offers strong growth opportunities
Sartorius Group Attractive market environment offers strong growth opportunities Growing and aging population Biologics are gaining importance2 >9.5 billion people by 20501 World population over age 65 in 2050 Sales share of biologics in 2028 ~1.6bn ~45% ~10% CAGR³ biopharma market 2024 – 2028 World
Slide 8: Addressing customer needs across all types of biopharma drugs
Sartorius Group Addressing customer needs across all types of biopharma drugs 1796 1818 1982 1986 2012 / 2017 2020 2023 Blood Recombinant Monoclonal Cell & gene mRNA CRISPR Vaccines products proteins antibodies therapies vaccines gene therapy Established Biopharmaceuticals Next Generation Largely
Slide 9: Cell and gene therapies (CGT): An increasingly relevant market segment
Sartorius Group Cell and gene therapies (CGT): An increasingly relevant market segment ~30% of biopharma pipeline is focusing on CGT1 Number of commercial processes is expanding rapidly ~70 approved CGT globally1 ~70% ~30% Other CGT biologics 23 CGT approvals 2022-2024 >8,000 CGT candidates in dev
Slide 10: Extensive technology platform for cell and gene therapy applications
Sartorius Group Extensive technology platform for cell and gene therapy applications Biological Albumedix Polyplus CellGenix Xell Up & downstream solutions Industries Cell culture Growth factors Media and Recombinant Transfection Cell line development, media and cytokines supplements Albumin reagent
Slide 11: Integration of innovative technologies is a Sartorius core competency
Sartorius Group Integration of innovative technologies is a Sartorius core competency Acquisitions Cooperations Own Product Development of complementary technologies with partners leading in their fields in areas of core competencies Process Cell cultivation Media & reagents Chromatography Bioprinti
Slide 12: Proven M&A approach, recent focus on three strategic key areas
Sartorius Group Proven M&A approach, recent focus on three strategic key areas Build-up of Unique portfolio for Intensified technologies BioAnalytics portfolio Advanced Therapies for downstream processing Intellicyt Essen BioScience Biological BIA Separations CellGenix WaterSep Danaher chromatograph
Slide 13: Acquisition of MATTEK to add innovative advanced cell model technology
Sartorius Group Acquisition of MATTEK to add innovative advanced cell model technology to the LPS portfolio Ashland, Mass., US (headquarters); Strategic rationale Bratislava, Slovakia A leading provider of human cell-based microtissues and 3D models for in vitro testing to accelerate preclinical d
Slide 14: Resilient global setup, well prepared for further growth
Sartorius Group Resilient global setup, well prepared for further growth Capex 560 Capex Major projects ~X% Global 410 resilience in millions of €; composition ratio in % 16.5 12.1 Regular expansion ~3% Capitalized R&D ~2% Redundant Maintenance ~3% capacities 2023 2024 Freiburg, Germany Aubagne, Fra
Slide 15: Midterm outlook to 2028: Expect to continue outgrowing the market
Sartorius Group Midterm outlook to 2028: Expect to continue outgrowing the market BPS LPS Sartorius Group Sales revenue CAGR Low to mid- Mid to high Low-teens % to 2028 teens % single-digit % Underlying EBITDA margin ~36% ~28% ~34% in 2028 ~1/5 of sales revenue growth to come from acquisitions in
Slide 16: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) 9M 2025 Results | FY 2025 Guidance 16
Slide 17: BPS: Solution provider for biomanufacturing
Sartorius Group BPS: Solution provider for biomanufacturing ~€2.7bn Sales revenue 29.3% EBITDA margin1 Filtration & Purification Fluid management ~80% Recurring revenues ~90% Sales share biopharma Fermentation Cell culture media FY 2024 figures, 1 ul. EBITDA margin excluding extraordinary items 17
Slide 18: Track record of dynamic growth
Sartorius Group Track record of dynamic growth BPS sales revenue; EBITDA margin1 Pillars of growth CAGRs 2022–20272 CAGR 15% Pharma market ~3-6% ~€2.7bn Biopharma market ~10% ~€1.4bn Biosimilars ~15% CGT ~20% 29.1% 29.3% Single-use ~15% 2019 2020 2021 2022 2023 2024 Sales revenue ul. EBITDA1 margin
Slide 19: Covering most steps of the biopharmaceutical manufacturing process
Sartorius Group Covering most steps of the biopharmaceutical manufacturing process Differentiated by the range and completeness of the Culture media Seed Scale-up Production portfolio preparation cultivation Excellent positioning in key single-use technologies UPSTREAM Internationally recogniz
Slide 20: Generating revenue throughout the lifecycle of a biopharma drug
Sartorius Group Generating revenue throughout the lifecycle of a biopharma drug Products specified into customers’ validated processes; recurring revenues with Attractive business consumables after approval of the drug by health authorities (e.g. FDA, EMA) model Stage Pre-clinical Clinical Commercia
Slide 21: Competitive product offering
Sartorius Group Competitive product offering Sartorius Peer 1 Peer 2 Peer 3 Filtration Fluid Management Fermentation Purification Cell Culture Media Pie charts indicate completeness of product offering 21
Slide 22: Biosimilars: Strong growth, big opportunities
Sartorius Group Biosimilars: Strong growth, big opportunities Major blockbuster biologics are going off-patent Time-to-market is key as only the first providers are most likely profitable Several approvals in Asia and Europe; U.S. at the beginning For now, relatively small market but with st
Slide 23: Pioneer and leader in the growing single-use technology market
Sartorius Group Pioneer and leader in the growing single-use technology market Single-use market penetration expected to increase from ~35% to ~75% Single-use products offer advantages over conventional stainless-steel devices Capex|Opex reduction over entire lifecycle Reduced risk of cross-cont
Slide 24: Single-use allows manufacturers to mitigate investment risks
Sartorius Group Single-use allows manufacturers to mitigate investment risks Construction of stainless-steel based facilities takes longer and is more complex compared to single-use Therefore, investment in stainless-steel facilities has to start in early clinical phase II The construction of
Slide 25: Leveraging digital tools for faster process development and cost-efficient bioprocessing
Sartorius Group Leveraging digital tools for faster process development and cost- efficient bioprocessing Combination of bioprocess sensors, analyzers and software to… Expected high …collect, monitor and control quality- Faster results New insights impact of AI, in- critical parameters silico simula
Slide 26: Limited dependence on individual accounts
Sartorius Group Limited dependence on individual accounts Long-term business relationships with leading Limited dependence on individual accounts global (bio-) pharma companies Sales to Top 50 customers in 2024, € in millions 800.0 ~54% ~58% 600.0 ~49% ~41% 400.0 ~27% 200.0 0.0 Top 10 11 to 20 21 to
Slide 27: High innovation dynamics in biopharma
Sartorius Group High innovation dynamics in biopharma Development of new Increased efficiency New tools and Future drug drugs and vaccines possible in the methods required manufacturing is must be accelerated, production of 'classic' e.g. for novel cell and more automated, e.g. through more biopharm
Slide 28: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) 9M 2025 Results | FY 2025 Guidance 28
Slide 29: LPS: Premium supplier for life science research and quality control labs
Sartorius Group LPS: Premium supplier for life science research and quality control labs ~€691mn Portfolio includes lab instruments, consumables, software and services Sales revenue 22.9% EBITDA margin1 Bioanalytics Lab instruments 50% Recurring revenue ~60% Sales share Life Sciences Lab consumables
Slide 30: Continuous transition to a higher growth and profitability profile
Sartorius Group Continuous transition to a higher growth and profitability profile LPS sales revenue; EBITDA margin1 Growth drivers CAGR 8% 900.0 49 Sales & Marketing pivot to attractive 800.0 segments and regions ~€691m 44 700.0 39 600.0 Attractive portfolio mix coupled with M&A 500.0 ~€477m 34 29
Slide 31: Focus on attractive life science market; regional profile increasingly balanced
Sartorius Group Focus on attractive life science market; regional profile increasingly balanced Sales revenue share by segment, 2024 vs. 2018 Sales revenue share by geography, 2024 vs. 2018 2024 2024 Life Science Applied research research Americas EMEA ~60% (~43%) ~40% (~57%) ~33% (~26%) ~40% (~46%)
Slide 32: R&D efficiency key value lever for biopharma customers
Sartorius Group R&D efficiency key value lever for biopharma customers Biopharma R&D needs to Costly trial and error: innovate Only one out of 10,000 new drug candidates reaches the market R&D expenditure of large Research Commercial production $161bn pharma customers in 20231 increase in R&D expend
Slide 33: Enabling scientists in the lab to accelerate and improve workflows
Sartorius Group Enabling scientists in the lab to accelerate and improve workflows; contributes to reducing time and cost of drug development Solutions are used to BioAnalytics Lab Essentials Conduct experiments Instruments, consumables, and reagents Instruments and consumables for quality- for dr
Slide 34: BioAnalytics digitizes and automizes key research steps in biopharma labs
Sartorius Group BioAnalytics digitizes and automizes key research steps in biopharma labs Real-time, live-cell imaging & analysis Rapid picking and screening of clones Highly automated to reduce manual efforts Boosting productivity via Integrating clone selection parallel experiments with workflow
Slide 35: BioAnalytics portfolio increasingly synergetic with BPS products
Sartorius Group BioAnalytics portfolio increasingly synergetic with BPS products Application example: Gene cloning, Clone Cultivation, Evaluation, selection, media characterization Cell banking cell line development initial selection analytics optimization LPS (BioA) instruments BPS instruments Reag
Slide 36: Lab Essentials for quality-critical steps and applications in the lab
Sartorius Group Lab Essentials for quality-critical steps and applications in the lab Main product groups Lab market expected to grow low- to mid-single digit Pharma and biopharma the largest customer group; rising number and complexity of drugs in development as main demand driver Lab Lab Liquid
Slide 37: Substantial share of recurring business
Sartorius Group Substantial share of recurring business Instrument sales followed by recurring revenue stream Further increasing recurring share ~50% Recurring revenue Software Consumables Reagents Service 37
Slide 38: Innovation strategy is focused on key workflows addressing unmet needs
Sartorius Group Innovation strategy is focused on key workflows addressing unmet needs of customers Expand portfolio Complementary solutions, focus on innovation in key areas Focus areas Advanced cell models New modalities Data management & analytics Provide tools for generation and Reliable, real-t
Slide 39: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) 9M 2025 Results | FY 2025 Guidance 39
Slide 40: Robust topline performance; continued strong margin improvement
Sartorius Group Robust topline performance; continued strong margin improvement Sartorius Group 9M 2024 9M 2025 in % in % cc 1 in millions of € unless otherwise specified Sales revenue 2,474 2,611 +5.5 +7.5 Underlying EBITDA2 686 774 +12.8 Underlying EBITDA2 margin in % 27.7 29.7 +2.0pp Underlying E
Slide 41: All regions contributing to positive development
Sartorius Group All regions contributing to positive development EMEA Americas Asia | Pacific Sales by region Sales | € in millions Sales | € in millions Sales | € in millions in % +6.3% +8.2% +8.7% EMEA Americas 1,020 1,084 925 ~42% ~35% 879 574 602 €2,611m Asia | Pacific 9M 2024 9M 2025 9M 2024 9M
Slide 42: Bioprocess Solutions: Significant revenue growth and margin expansion
Sartorius Group Bioprocess Solutions: Significant revenue growth and margin expansion Sales revenue +9.9% cc Ul EBITDA & margin € in millions +7.8% € in millions +17.3% 2,115 1,962 800 667 55 700 568 50 600 45 500 40 400 28.9 31.5 35 300 30 200 25 100 20 0 15 9M 2024 9M 2025 9M 2024 9M 2025 Double
Slide 43: Lab Products & Services: Resilient performance in challenging environment
Sartorius Group Lab Products & Services: Resilient performance in challenging environment Sales revenue Ul EBITDA & margin -1.3% cc € in millions € in millions -3.2% -9.1% 511 495 118 108 23.2 21.7 9M 2024 9M 2025 9M 2024 9M 2025 Significant growth of recurring business with lab consumables and se
Slide 44: Substantial increase in net profit and solid cash flow generation
Sartorius Group Substantial increase in net profit and solid cash flow generation Sartorius Group 9M 2024 9M 2025 in % in millions of € unless otherwise specified Underlying net profit1,2 208 244 +17.0 Operating cash flow on solid level; growth-driven Reported net profit2 75 125 +66.0 increase in
Slide 45: Deleveraging as planned; commitment to investment-grade rating
Sartorius Group Deleveraging as planned; commitment to investment-grade rating Key financial indicators Net debt and net debt to underlying EBITDA 6.0 Sartorius Group Dec. 31, Sep. 30, 5,000 5.0 in millions of € unless otherwise specified 2024 2025 4,000 4.0 Equity ratio in % 38.6 39.7 3,000 3.0 2,0
Slide 46: Strong credit metrics and liquidity
Sartorius Group Strong credit metrics and liquidity Investment grade credit rating BBB- (stable) Balanced debt maturity profile • Commitment to maintain a solid investment grade rating • Focus on cash generation and continued deleveraging 650 Strong liquidity & resilient financing 850 850 650 • Cash
Slide 47: Specified FY 2025 guidance on the back of significant profitable growth
Sartorius Group Specified FY 2025 guidance on the back of significant profitable growth Guidance 2025 Sales revenue growth1 Underlying EBITDA margin New guidance Initial guidance2 New guidance Initial guidance2 Sartorius Group + ~7% + ~6% (+/-2pp) Slightly above 29.5% ~29% to ~30% Bioprocess Solutio
Slide 48: Appendix
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Slide 49: Corporate responsibility & further financial information
Sartorius Group Corporate responsibility & further financial information To Sartorius, sustainability means operating Please click below for further information: responsibly over the long term – with respect to business partners, employees and society as well as to natural resources. Learn more abou
Slide 50: Reasons to invest
Sartorius Group Reasons to invest Clear strategy, Strong fundamental Competitive, consistent growth drivers differentiated implementation product portfolio High-performance, High share of Ambitious team, resilient production recurring revenues strong customer focus and R&D infrastructure 50
Slide 51: Sartorius legal & operational structure
Sartorius Group Sartorius legal & operational structure Sartorius Group legal setup Sartorius AG (~69.0m shares) Ordinary shares (~34.2m shares) Preference shares (~34.8m shares) Stock market listed in Germany1 ~55% Administered by executor ~72% Free float ~38% Bio-Rad Laboratories ~28% Bio-Rad Labo
Slide 52: Share price performance
Sartorius Group Share price performance 500% 400% 300% 200% 100% 0% Okt. 20 Okt. 21 Okt. 22 Jan. 20 Apr. 20 Okt. 23 Okt. 24 Jul. 20 Jan. 21 Apr. 21 Okt. 25 Jul. 21 Jan. 22 Apr. 22 Jul. 22 Jan. 23 Apr. 23 Jul. 23 Jan. 24 Apr. 24 Jul. 24 Jan. 25 Apr. 25 Jul. 25 Sartorius Preference share Sartorius Ord
Slide 53: A sampling of the Bioprocess Solutions' product portfolio
Sartorius Group A sampling of the Bioprocess Solutions’ product portfolio Filtration Purification Fermentation Fluid management 53
Slide 54: A sampling of the Lab Products and Services' product portfolio
Sartorius Group A sampling of the Lab Products and Services’ product portfolio Lab balances | Lab water systems Bioanalytics Lab filtration | Microb. analysis Pipettes 54
Slide 55: Executive Board of Sartorius AG as of July 1, 2025
Sartorius Group Executive Board of Sartorius AG as of July 1, 2025 Michael Grosse, CEO René Fáber Florian Funck, CFO Alexandra Gatzemeyer Joined Sartorius in 2025 Joined Sartorius in 2002 Joined Sartorius in 2024 Joined Sartorius in 2005 Member of the Board since Member of the Board since 2019 Membe
Slide 56: Contacts and Financial calendar
Sartorius Group Contacts and Financial calendar Petra Müller October 22, 2025 Head of Investor Relations C-level roadshow London +49.551.308.6035 October 23, 2025 petra.mueller2@sartorius.com C-level roadshow Paris Mirko Koch November 12, 2025 Stifel 2025 Healthcare Conference, New York Manage
Slide 57: Disclaimer
Sartorius Group Disclaimer This presentation contains statements concerning the future performance of the Sartorius 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 actual
Slide 58: Simplifying Progress
Simplifying Progress Scan or click here to view this presentation.