Sartorius AG · XETR:SRT
Sartorius — Q1 2013 Earnings Presentation
19 slides from Sartorius's earnings presentation, Apr 23, 2013
Slide 1: Sartorius Conference Call Q1 2013 Results
Sartorius Conference Call Q1 2013 Results Joachim Kreuzburg, CEO | April 23, 2013 1
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: Off to a Good Start in 2013
Off to a Good Start in 2013 Group: High growth in order intake; robust sales development and further margin expansion Mixed picture of order intake in the three divisions Group guidance confirmed Slight changes to reporting structure adopted; underlying EBITDA replaces underlying EBITA as KPI for ea
Slide 4: Slight Changes to 2013 Reporting
Slight Changes to 2013 Reporting Changes according to IFRS reporting practice Other taxes now included in functional expenses (mainly CoS) Amortization allocated to functional expenses (mainly S&D) No impact on net profit, cash flow or balance sheet reporting Application of these principles as
Slide 5: Excellent Growth in OI; Robust Sales and Margin Development
Excellent Growth in OI; Robust Sales and Margin Development Sartorius Group 3M 3M Change in % in millions of € Change in % (unless otherwise specified) 2012 2013 const. currencies Order intake 220.0 239.8 9.0 10.1 Sales revenue 208.1 214.3 3.0 4.2 1) Underlying EBITDA 36.2 39.3 8.5 1) Underlying EBI
Slide 6: Asia Posted Strongest Growth; High Comps in North America
Asia Posted Strongest Growth; High Comps in North America North America Europe Asia|Pacific Other Markets Sales1) by Regions Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € in % 111.7 106.5 Europe ~52% North America ~20 % 47.6 48.3 46.0 43.8 Other
Slide 7: Bioprocess Solutions: Continued High Growth Momentum
Bioprocess Solutions: Continued High Growth Momentum Order Intake Sales Revenue Order Intake in millions of € in millions of € Ongoing strong demand 152.9 for single-use products 123.3 115.4 119.9 ~50% of growth relating to special impulses, esp. large equipment orders Sales Revenue Solid grow
Slide 8: Lab Products & Services: Sales and Margins on Track; OI Impacted by Special Factors
Lab Products & Services: Sales and Margins on Track; OI Impacted by Special Factors Order Intake Sales Revenue Order Intake in millions of € in millions of € 70.9 68.7 ￭ Phase-out of non- 63.6 66.5 strategic products ￭ Certain markets impacted by temporary weakness Sales Revenue Strong performance
Slide 9: Industrial Weighing: Stable Performance in Sales and Earnings
Industrial Weighing: Stable Performance in Sales and Earnings; Temporary Weak Demand from NA and Asia Order Intake Sales Revenue Order Intake in millions of € in millions of € 26.2 25.8 25.7 23.2 Impacted by temporary weak demand in North America and Asia Sales Revenue Strong performance in -2.1
Slide 10: Robust Bottom-Line Expansion and Cash Flow Performance
Robust Bottom-Line Expansion and Cash Flow Performance Sartorius Group 3M 3M Change Q1 2012 financial result in millions of € (unless otherwise specified) 2012 2013 in % included gains from valuation adjustments of hedging Underlying1) EBITDA 36.2 39.3 8.5 instruments Extraordinary items -3.2 -1.0
Slide 11: All Key Financial Indicators at Comfortable Levels
All Key Financial Indicators at Comfortable Levels Key Financial Indicators Net Debt to EBITDA1)2) Sartorius Group Dec 31, March 31, 300 3.0 2012 2013 Equity ratio in % 37.8 38.7 200 2.0 Net debt in millions of € 303.8 317.7 100 1.0 Gearing ratio 0.8 0.7 0 0.0 Net debt to underlying1) Q1-Q4 Q1 1.9 1
Slide 12: Group Guidance Confirmed; Division Mix Might Be Different
Group Guidance Confirmed; Division Mix Might Be Different Sales revenue Underlying growth 1) EBITDA margin 1)2) Comment (after restatement) Sartorius Group 6% - 9% ~19.5% Including ~3-4 pct. points Bioprocess Solutions 9% - 12% ~22.5% due to Lonza cooperation Lab Products & Services 3% - 6% ~17.5% A
Slide 13: Sartorius Stedim Biotech Investors' Presentation Q1 2013 Results
Sartorius Investors‘ Stedim Biotech Presentation Q1 2013 Results March 18, 2013 Joachim Kreuzburg, CEO | April 23, 2013
Slide 14: SSB Group Continues on the Growth Track
SSB Group Continues on the Growth Track Sartorius Stedim Biotech Change Margins in millions of € 3M 3M Change in % in % (unless otherwise specified) 2012 2013 in % const. currencies 20.9 Order intake 142.0 169.4 19.3 20.1 150 19.2 20.1 18.7 20 17.1 17.2 17.4 15.9 Sales revenue 133.5 138.0 3.4 4.4 10
Slide 15: Asia with Double-Digit Growth; High Comps in North America
Asia with Double-Digit Growth; High Comps in North America North America Europe Asia|Pacific Other Markets Sales1) by Regions Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € in % 68.7 Europe ~50 % 67.3 North America ~24 % 35.3 33.2 28.6 25.9 € 138.
Slide 16: Robust Bottom-Line Growth; Strong Operating Cash Flow
Robust Bottom-Line Growth; Strong Operating Cash Flow Sartorius Stedim Biotech 3M 3M Change Previous year’s financial result in millions of € (unless otherwise specified) 2012 2013 in % included substantial gains from Underlying1) EBITDA 26.9 28.8 7.0 valuation adjustments of hedging instruments E
Slide 17: All Key Financial Indicators at Very Comfortable Levels
All Key Financial Indicators at Very Comfortable Levels Key Financial Indicators Net Debt to EBITDA1) 200 3.0 Sartorius Stedim Biotech Dec. 31, March 31, 2012 2013 150 2.0 Equity ratio in % 54.8 55.9 100 Net debt in millions of € 113.7 127.2 1.0 50 Gearing ratio 0.3 0.3 Net debt to underlying1) 0 0.
Slide 18: FY Guidance Confirmed
FY Guidance Confirmed Sales revenue Underlying Comment growth1) EBITDA margin1)2) Including ~3 pct. points Sartorius Stedim Biotech 8% - 11%1) ~22.5% due to Lonza cooperation CAPEX ratio expected to be around 7% 1) In constant currencies 2) Excluding extraordinary items 18
Slide 19: Thank You Very Much For Your Attention
Thank You Very Much For Your Attention 19