Siegfried Holding Ag · SIX:SFZN
Siegfried — H1 2023 Earnings Presentation
19 slides from Siegfried's earnings presentation, Aug 17, 2023
Slide 1: Siegfried delivers strong sales growth and profitability
Siegfried delivers strong sales growth and profitability H1 Results 2023 Zofingen, 17 August 2023
Slide 2: Safe harbor statement
Safe harbor statement Thi s document is s olely for use in connection with the presentation held by Si egfried 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, a nd
Slide 3: Siegfried delivers strong sales growth and profitability in the first half of 2023
Siegfried delivers strong sales growth and profitability in the first half of 2023 A resilient and well-diversified business portfolio - Net sales up to CHF 607.1 million (prior year CHF 586.7 million), an increase of 6.8% in LC (3.5% in CHF) – underlying business with double-digit percentages growt
Slide 4: Financial Update
Financial Update 4 | Siegfried - H1 2023
Slide 5: Strong growth: Delivered
Strong growth: Delivered Despite phasing out of vaccines business Net sales split H1 2023 Change H1 2022 – H1 2023 CHF million H1 2023 H1 2022 Change Drug Substances 398.5 339.5 +17.4% (+20.2% in LC) Drug Products 208.6 247.2 -15.6% (-11.7% in LC) Total 607.1 586.7 +3.5% (+6.8% in LC) - Net sales gr
Slide 6: Reconciliation for H1 2023
Reconciliation for H1 2023 From Swiss GAAP FER to Core results CHFm Comments 150 5.2 125.7 120.5 Adjustments to Core EBITDA 100 Current net interest foreign pension plan (CHF 1.5m) 87.2 Jubilee 150 years (CHF 0.8m) -38.5 Restructuring projects costs (CHF 1.5m) Transaction costs (CHF 1.4m) 58.8 -26.9
Slide 7: Strong profitable growth over the cycle in a challenging macro environment
Strong profitable growth over the cycle in a challenging macro environment Resilience from business model, diversification and operational management CHFm Comments +16.1% 650 607.1 - High CAGR for net sales – even higher 600 586.7 H1 2020 H1 2021 H1 2022 H1 2023 CAGR for all profit aggregates 550 -
Slide 8: H1 2023: Strong profitability protected
H1 2023: Strong profitability protected CHF million H1 2023 H1 2022 Comments Net sales 607.1 586.7 Core cost of goods sold -459.4 -430.4 Core gross profit 147.7 156.4 - SG&A as a total decrease relative to net sales, but also in Marketing and sales costs -11.4 -9.5 absolute terms Core research and d
Slide 9: Improvement in operating cash flow
Improvement in operating cash flow Despite continued investments into inventory positions CHF million H1 2023 H1 2022 Comments Operating cash flow before changes in NWC 119.5 128.1 Change in NWC -40.7 -51.9 Operating cash flow 78.8 76.3 - Slight increase of operating cash flow Purchase of PPE and in
Slide 10: Capital allocation framework
Capital allocation framework A strong balance sheet provides the financial flexibility required to execute our strategy Invest in organic growth – in line with EVOLVE strategy Strong top line growth - Expansion investments in capacity and technologies - Investments in capabilities and people Profita
Slide 11: Outlook
Outlook 11 | Siegfried - H1 2023
Slide 12: Strategy EVOLVE: We strengthen our core and open doors beyond
Strategy EVOLVE: We strengthen our core and open doors beyond Through organic investments and M&A Grow existing core Add and integrate adjacencies Enter and grow new areas Strengthening current value proposition Diversification into new CDMO Expansion into other high-growth to fully exploit signific
Slide 13: Delivering upon our strategy EVOLVE: Grow existing core
Delivering upon our strategy EVOLVE: Grow existing core Expanding our development and manufacturing capacities and capabilities in small molecules Minden (DS, Germany) Evionnaz (DS, Switzerland) Barcelona (DP, Spain) New large-scale, world-class production plant New Center of Excellence for high-end
Slide 14: We strive for excellence to fully exploit our asset base and prepare for growth
We strive for excellence to fully exploit our asset base and prepare for growth Continued focus on commercial, operational and organizational excellence will drive returns and de-risk M&A Commercial Excellence Operational Excellence Organizational Excellence Allocate high value capacity to Free up a
Slide 15: Sustainability is one of our five core values
Sustainability is one of our five core values Good progress in H1 2023 -8.6% 73% Confirmed on 12.2.23 Energy Energy saved in H1 20231 Renewable 454 Terajoules (TJ) electricity consumption came from Electricity renewable energy sources -10% -50% Energy Target: Total energy Sustainability Siegfried’s
Slide 16: Delivering upon our strategy EVOLVE: Enter and grow new areas
Delivering upon our strategy EVOLVE: Enter and grow new areas Acquisition of DiNAMIQS as nucleus for additional growth in the cell & gene therapy CDMO segment Bio-Technopark Zurich-Schlieren Investment platform to be built out in line with market and technology trends - Attractive AAV vector develop
Slide 17: Outlook increased: Siegfried keeps moving to deliver profitable growth
Outlook increased: Siegfried keeps moving to deliver profitable growth By investing in the global network and executing value-adding M&A - Sales growth at least in line with CDMO market - Active project and product portfolio management - Commercial, operational and organizational excellence - Furthe
Slide 18: Q&A
Q&A 18 Siegfried - H1 2023
Slide 19: Thank you for your attention
20 February 2024 Publication: Full-Year-Results 2023 18 April 2024 Annual General Thank you for Meeting your attention 19 Siegfried - H1 2023