Sartorius AG · XETR:SRT
Sartorius — Dresdner Kleinwort North European Mid Cap Event 2007
27 slides from Sartorius's conference presentation, Oct 8, 2007
Slide 1: Dresdner Kleinwort North European Mid Cap Event
Platzhalter Bild Dresdner Kleinwort North European Mid Cap Event Paris, October 08 | 09, 2007 Heiko Imoehl, Vice President Group Financing & Investor Relations
Slide 2: Agenda
Agenda • Company Overview • Biotechnology Division Platzhalter Bild • Mechatronics Division • Key Figures & Outlook • Share Information
Slide 3: The Sartorius Group Runs Two Divisions
The Sartorius Group Runs Two Divisions • Biotechnology: solution provider for • Mechatronics: weighing equipment for biomanufacturing laboratory and industrial applications Sales 2006* €365.5mn Sales 2006 €250.0mn EBITA 2006* €46.3mn EBITA 2006 €20.2mn Listed as Sartorius Stedim Biotech in
Slide 4: Agenda
Agenda • Company Overview • Biotechnology Division Platzhalter Bild • Mechatronics Division • Key Figures & Outlook • Share Information
Slide 5: Total Solution Provider for Next Generation Biomanufacturing
Total Solution Provider for Next Generation Biomanufacturing • Company created by reverse merger of Sartorius’ Biotechnology Division into Stedim S.A. • Supplier for validated biopharma processes • Global market leader for single-use bags • Among global top 3 in filtration and cell culture technolog
Slide 6: Market Position of the Biotechnology Division
Market Position of the Biotechnology Division Filtration & Purification* Sterile Bags* Fermentation* Market Size ~ €600mn ~ €120mn ~ €250mn Market Growth Double-digit Double-digit Single-digit Market Share 22% - 25% ~ 50% 25% - 30% Economies of Scale High Significant Moderate Source: own estimates;
Slide 7: Key Driver 1: The Challenges in Pharma Production are Changing
Key Driver 1: The Challenges in Pharma Production are Changing Share of Drug Approvals in the USA in % 100 • Since 2002, more than 50% of newly approved drugs are 80 biotechnologically produced. • The technology shift in pharma production is happening NOW. 60 • Plus: Revival of the vaccine industry.
Slide 8: Key Driver 2: Need for Process Optimization in Biopharma Production
Key Driver 2: Need for Process Optimization in Biopharma Production Input: Output: High capex, Small quantities high production costs, of high-value low flexibility active ingredient The industry needs more efficient, less capex-intense, more flexible production technologies The person in the pictur
Slide 9: Key Driver 3: Disposables Replace Stainless Steel Equipment
Key Driver 3: Disposables Replace Stainless Steel Equipment + Reduced risk of cross-contamination + Reduced upfront investment + Reduced downtime + No cleaning validation = Reduced life-cycle costs by approx. 15% - 40%* + Greater flexibility Source: BioPharm Services page 9
Slide 10: Attractive Growth Perspectives for Disposable Systems in Biopharma
Attractive Growth Perspectives for Disposable Systems in Biopharma ~ 6% Underlying classic pharma growth + Market penetration by biotech drugs = ~ 12% CAGR for biotech + Paradigm shift to disposables = ~ 18% CAGR for innovative disposables Source: own estimates page 10
Slide 11: Highly Synergistic Merger Between Sartorius Biotech Division and Stedim
Highly Synergistic Merger Between Sartorius Biotech Division and Stedim • Bags and filters are sold as disposable systems • No overlap of product portfolio • Complementary regional strengths • One face to the customer: worldwide integrated sales force and key account management • Leveraging of Stedi
Slide 12: Considerable Progress of Integration of Sartorius Biotech and Stedim
Considerable Progress of Integration of Sartorius Biotech and Stedim • Sales & Marketing • Uniformed branding implemented • European S&M teams fully integrated • Focus on integration of US S&M team • Research & Development • Fully integrated R&D organization and project teams • Projects are harmoniz
Slide 13: Portfolio Extension by Strategic Alliances
Portfolio Extension by Strategic Alliances Lev Tech Inc., USA: Disposable mixing systems Wave Biotech AG, Switzerland: Disposable bioreactors Fluorometrix Corp., USA: Disposable sensors for bioreactors Respironics Inc., USA: Disposable CO2 sensors for bioreactors Aseptic Technologies S.A.,
Slide 14: Agenda
Agenda • Company Overview • Biotechnology Division Platzhalter Bild • Mechatronics Division • Key Figures & Outlook • Share Information
Slide 15: Global Full-Liner of Weighing and Control Technology
Global Full-Liner of Weighing and Control Technology Full range of products for laboratory and industrial applications Complete product pyramid from premium to standard segment Global sales and services structure Production base in Europe, Asia, USA Modular production and supply chain conc
Slide 16: Market Position of the Mechatronics Division
Market Position of the Mechatronics Division Laboratory Business* Industrial Business* Market Size €300 – 400mn €1.5 - 2.0bn Market Growth ~ 2% - 3% ~ 5% Market Share ~ 30% ~ 5% Economies of Scale Moderate Significant Source: own estimates; * in our specific market segments page 16
Slide 17: Market Trends
Market Trends Growing demand for electronic weighing equipment in emerging markets Especially in Asia high demand for industrial weighing equipment Numerous recipe management solutions needed in the food and beverage, chemical and pharmaceutical industry Increasing demand for standardization
Slide 18: Asia is the Main Growth Driver for the Industrial Business
Asia is the Main Growth Driver for the Industrial Business Strongest growing single market Highest potential for additional market share Thus, highest potential for economies of scale Production and Sales facilities sales facilities page 18
Slide 19: New Beijing Facility
New Beijing Facility Operating since May 2007 Production of laboratory and industrial weighing equipment More than 10 years of production experience with laboratory products in China Capacity of the facility can be further expanded substantially page 19
Slide 20: Agenda
Agenda • Company Overview • Biotechnology Division Platzhalter Bild • Mechatronics Division • Key Figures & Outlook • Share information
Slide 21: Key Figures H1 2007
Key Figures* H1 2007 Group Biotechnology Division Mechatronics Division Growth rate Growth rate Growth rate H1 | 07 H1 | 07 H1 | 07 constant fx constant fx constant fx Order intake €331.6mn + 11.4% €198.3mn + 13.1% €133.3mn +8.9% Sales revenue €312.2mn + 5.5% €186.6mn + 5.3% €125.6mn + 5.9% Underlyi
Slide 22: Forecast 2007 | Outlook up to 2011
Forecast* 2007 | Outlook* up to 2011 Group Biotechnology Division Mechatronics Division Sales revenue 2007e €650 - 670mn €390 – 410mn ~ €260mn Underlying ~ 12% ~ 14% ~ 9% EBITA margin 2007e CAGR 2007-2011 11% - 12% 14% - 15% > 5% Underlying ~ 15% ~ 16% - 16.5% ~ 12% EBITA margin 2011e * As having Sa
Slide 23: Agenda
Agenda • Company Overview • Biotechnology Division Platzhalter Bild • Mechatronics Division • Key Figures & Outlook • Share Information
Slide 24: Facts about Sartorius Shares – Shareholding structure
Facts about Sartorius Shares – Shareholding structure Ordinary share Preference share 8,9 9 9 Administered by executor 50,1 Family owned 25 Bio-Rad Laboratories Inc. Free float 7 Own shares 91 ISIN Ordinary share: DE0007165607; preference share: DE0007165631 Market segment Prime Standard (technology
Slide 25: Contacts
Contacts Heiko Imöhl Andreas Wiederhold Vice President Group Financing & Investor Relations Treasury & Investor Relations Phone: +49.551.308.4034 Phone: +49.551.308.1668 Fax: +49.551.308.1654 Fax: +49.551.308.1654 E-mail: heiko.imoehl@sartorius.com E-mail: andreas.wiederhold@sartorius.com Sartorius
Slide 26: Disclaimer
Disclaimer This presentation contains statements concerning the Sartorius Group’s future performance. 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 actually materialize. This
Slide 27: Thank you very much for your attention.
Platzhalter Bild Thank you very much for your attention.
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