Sartorius AG · XETR:SRT
Sartorius — Non-Deal Roadshow (November 2010)
39 slides from Sartorius's roadshow presentation, Nov 8, 2010
Slide 1: Roadshow Frankfurt
Platzhalter Bild Roadshow Frankfurt November 8, 2010
Slide 2: Disclaimer
Disclaimer This presentation contains statements concerning the Sartorius Groups’ 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 3: Agenda
Agenda • Nine-Month Results and Outlook 2010 • Group Profile Platzhalter Bild • Biotechnology Division • Mechatronics Division • Appendix
Slide 4: Sartorius Group's Performance within the first 9 Months 2010
Sartorius Group’s Performance within the first 9 Months 2010 In millions of €, unless otherwise specified 9-month 2010 9-month 2009 Order Intake (currency adj. growth) 508.3 (+9.0%) 454.8 Sales Revenue (currency adj. growth) 482.3 (+5.9%) 444.7 Underlying* EBITA (Margin) 58.9 (12.2%) 43.9 (9.9%) Und
Slide 5: Considerable Increase in Order Intake
Considerable Increase in Order Intake In millions of € +11.8% 454.8 508.3 Currency-Adjusted Growth: 500 • Group: +9.0% 450 400 • Biotechnology: +6.4% +9.1% 330.9 350 • Mechatronics: +14.1% 300 303.4 Biotechnology: 250 • Double-digit growth rates with single-use 200 products in Asia | Pacific and Nor
Slide 6: Sales Revenue Growth Reported by Both Divisions
Sales Revenue Growth Reported by Both Divisions In millions of € +8.5% 482.3 Currency-Adjusted Growth: 444.7 450 • Group: +5.9% 400 • Biotechnology: +4.6% +7.0% 318.8 350 • Mechatronics : +8.5% 300 298.0 250 Biotechnology: 200 • Equipment orders are partly not yet reflected 150 +11.4% by sales reven
Slide 7: Sales Revenue by Region – Biotechnology
Sales Revenue by Region – Biotechnology According to customers’ location, in millions of € -1.8% Currency-Adjusted Growth: • Europe: -2.2% 160 • North America: +13.0% 140 • Asia | Pacific: +17.6% 120 +17.3% 100 • As expected, development in Europe was re- 80 strained due to phase-out of extraordinar
Slide 8: Sales Revenue by Region – Mechatronics
Sales Revenue by Region – Mechatronics According to customers’ location, in millions of € +7.8% Currency-Adjusted Growth: • Europe: +7.3% 80 • North America: +5.7% 70 • Asia | Pacific: +10.4% 60 +18.0% 50 • Significant positive sales revenue growth 40 achieved in all regions +9.7% 30 • Strong develo
Slide 9: Underlying EBITA
Underlying* EBITA In millions of € 58.9 +34.1% 55 Underlying* EBITA Margin: 50 43.9 • Group: 12.2% (prev. year: 9.9%) 45 • Biotechnology: 15.7% (prev. year: 15.5%) 40 +8.1% 50.1 • Mechatronics: 5.4% (prev. year: -1.6%) 35 30 46.3 • Positive development mainly due to profitable 25 growth in both divi
Slide 10: Underlying Earnings per Share Strongly Increased
Underlying* Earnings per Share Strongly Increased In € • Underlying* net profit after minority interest: 1,50 1.50 €26.4mn (prev. year: €13.9mn) +90.8% • Unadjusted net profit after minority interest: 1,25 1.25 €20.3mn (previous year: -€7.0mn) 1,00 1.00 0,75 0.75 1.55 0,50 0.50 0.81 0.25 0,25 0,000
Slide 11: Key Financial Figures
Key Financial Figures Sept. 30, 2010 Dec. 31, 2009 Equity Ratio 38.7% 38.9% Net Debt (in millions of €) 226.3 224.7 Gearing 0.7 0.7 Net Debt to Underlying* EBITDA 2.3 2.6 Interest Coverage 13.8 8.6 • Even though we implemented the share buyback program for SSB S.A. in Q2, the equity ratio and net de
Slide 12: 2010 Outlook: Sales Growth Forecast Confirmed, Profit Expectations Slightly Raised
2010 Outlook: Sales Growth Forecast Confirmed, Profit Expectations Slightly Raised Sales Growth Underlying EBITA Margin (currency-adj.) Slightly above 5% Improvement of around 2.5 Sartorius Group (unchanged) percentage points (earlier: 1 to 2 percentage points) Around 5% Around 16% Biotechnology (ea
Slide 13: Agenda
Agenda • Nine-Month Results and Outlook 2010 • Group Profile Platzhalter Bild • Biotechnology Division • Mechatronics Division • Appendix
Slide 14: Sartorius Runs Two Divisions
Sartorius Runs Two Divisions Biotechnology Division: Mechatronics Division: • Total solution provider for • Total solution provider of laboratory and biomanufacturing process weighing equipment • Focus on single-use technology • The No. 2 worldwide • Market-leading position in filtration, • Strategi
Slide 15: Agenda
Agenda • Nine-Month Results and Outlook 2010 • Group Profile Platzhalter Bild • Biotechnology Division • Mechatronics Division • Appendix
Slide 16: Total Solution Provider for the Biopharmaceutical Industry
Total Solution Provider for the Biopharmaceutical Industry • We help our customers to produce biopharmaceuticals in short time, reliably and safely, at low costs, and with high flexibility • Most complete product and service portfolio along the biotech industry’s process chain • Focus on single-use
Slide 17: Products and Solutions Along BioPharma's Process Chain
Products and Solutions Along BioPharma´s Process Chain Media Preparation Fermentation Cell Harvest | Buffer Prep. Vol. Reduction Service program: plant survey, optimization, validation, training Transfer | Capturing | Form & Fill Viral Clearance Storage Polishing Service program: plant survey, optim
Slide 18: Single-use Technologies Will Become the Future Industry Standard
Single-use Technologies Will Become the Future Industry Standard + CAPEX reduction Market Penetration of Single-use Products in Potential Applications + Reduced cleaning costs | validation 100% + Downtime reduction, i.e. higher equipment utilization + Enhanced process performance = Reduction of life
Slide 19: Strong Trends Fuel Growth of Single-use Technologies
Strong Trends Fuel Growth of Single-use Technologies Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies • Diseases of civilization page 19
Slide 20: Sustainable Development of the Global Pharma Market
Sustainable Development of the Global Pharma Market In billions of US$ Size and Growth of the Global Pharma Market 975+ • Strongest growth expected from the 4% to 7% “pharmerging markets*”: - huge populations with rising 800 disposable incomes, - changing mix of generic and 600 innovative products,
Slide 21: Strong Growth Potential in Asia | Pacific
Strong Growth Potential in Asia | Pacific Pipeline of Innovative Biotech Companies in Asian Countries • Australia is the current number 4 and China is 269 number 5 of worldwide biotech sites (1: USA; 250 2: UK; 3: Germany) • The Chinese market remains the fastest 200 growing among the pharmerging ma
Slide 22: Strong Trends Fuel Growth of Single-use Technologies
Strong Trends Fuel Growth of Single-use Technologies Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies + Trends towards Biotech • Diseases of civilization • MAbs + vaccines dominate Biopha
Slide 23: Biopharma Increases its Portion of the Global Pharma Market
Biopharma Increases it’s Portion of the Global Pharma Market In billions of US$ Biotech Sales: Top 10 Companies • Today, biotech within the pharma market Roche & Genentech represents approx. 17% of sales, this is Amgen supposed to increase to ca. 23% by 2014. Pfizer & Wyeth • Biotech sales are set t
Slide 24: Strong Trends Fuel Growth of Single-use Technologies
Strong Trends Fuel Growth of Single-use Technologies Global Trends • Aging population in western countries Pharma Market • Hundreds of million + • Average growth ~5% p.a. additional patients in developing economies + Trends towards Biotech • Diseases of civilization • MAbs + vaccines dominate Biopha
Slide 25: Increasing Pressure on (Bio)Manufacturing Costs
Increasing Pressure on (Bio)Manufacturing Costs* CoS by Category CoS by Unit Operation 12% 1% 3% 3% 3% 4% 7% 6% 48% 9% 25% 2% 44% 15% 8% 3% 7% Capital Charge 20L Seed Bioreactor Huge potential for 200L Seed Bioreactor Materials single-use techno- 2000L Production Bioreactor Consumables logies, espec
Slide 26: New Areas Where Single-use Products Were Recently Implemented
New Areas Where Single-use Products Were Recently Implemented Bioreactor, prod. 38.8 • Most popular newly introduced Buffer prep 38.1 single-use technologies were bags for Bioreactor, seed 36.1 bioreactors (production & seed) and Buffer storage 31.3 buffers (preparation and storage) Filtration (norm
Slide 27: Actual Initiatives for Our Portfolio Extension
Actual Initiatives for Our Portfolio Extension • Expansion of our single-use technology portfolio through own developments and external partners • Recent agreements in the area of single-use bioreactors: - Bayer Technology Services (Germany) - ExcellGene (Switzerland) - ATMI (United States) • The no
Slide 28: Continuously High Number of New Product Launches
Continuously High Number of New Product Launches • Five additional systems of the new, flexible and mobile FlexAct series • New generations of filter cartridges, prefilters and capsules • Single-use bioreactor portfolio extended by large units with working volumes of up to 1,000 L and featuring diff
Slide 29: Agenda
Agenda • Nine-Month Results and Outlook 2010 • Group Profile Platzhalter Bild • Biotechnology Division • Mechatronics Division • Appendix
Slide 30: From a Weighing Specialist to an Application Expert
From a Weighing Specialist to an Application Expert • Increasing focus on monitoring and control of critical process parameters in the food and pharmaceutical industry • Build-up of a comprehensive product portfolio with process analytical technologies and software solutions • Fast and low-risk expa
Slide 31: Future Integrated Quality and Process Control
Future Integrated Quality and Process Control Example: Food Industry Incoming goods Production Packaging Distribution Process control (SPS) Moisture Dosing Water content Recipe Ingredients Homogeneity Foreign particles Foreign particles Completeness of Moisture Filling quantity Weight Amount compone
Slide 32: Sustainable Growth Drivers for Inline Process Analytics
Sustainable Growth Drivers for Inline Process Analytics Example: Food Industry Higher proportion of processed foods Steadily increasing cost pressure • Convenience food • Growth in emerging markets • Functional food • Concentration of commercial operations Inline process analytical equipment Increas
Slide 33: Growing Demand for Inline Analytical Technologies
Growing Demand for Inline Analytical Technologies Process Analyzers in the Food Industry • Shifting of quality control procedures from Temperature the laboratory to the production line pH • Integration of weighing and control technology as well as data management into Moisture production processes W
Slide 34: Most Product Launches Target New Applications
Most Product Launches Target New Applications • Multiple filling system for liquids used in the (bio-)pharmaceutical industry • Software for process control and for batch management in regulated processes • Refractometers for determination of dissolved solids, such as the sugar content; alliance wit
Slide 35: Agenda
Agenda • Nine-Month Results and Outlook 2010 • Group Profile Platzhalter Bild • Biotechnology Division • Mechatronics Division • Appendix
Slide 36: Strong Global Presence
Strong Global Presence Sales Production | Production and Sales page 36
Slide 37: 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 38: Financial Calendar
Financial Calendar • November 22 – 24, 2010 Equity Forum Fall 2010, Frankfurt | Main • February 2011* Publication of preliminary full-year figures for 2010 • March 2011 Annual press conference in Goettingen, Germany • April 20, 2011* Annual Shareholders' Meeting in Goettingen, Germany • April 2011*
Slide 39: Contacts
Contacts Andreas Wiederhold Henriette Meyer Team Leader Treasury & Investor Relations Treasury & Investor Relations Phone: +49.551.308.1668 Phone: +49.551.308.3232 Fax: +49.551.308.3153 Fax: +49.551.308.3153 E-mail: andreas.wiederhold@sartorius.com E-mail: henriette.meyer@sartorius.com Sartorius Cor