Slide 1: Conference Call First-Quarter 2017 Results
Conference Call First-Quarter 2017 Results Joachim Kreuzburg, CEO | April 24, 2017
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: Agenda
Agenda 01 Sartorius Group: Q1 2017 Results | 2017 Guidance 02 Sartorius Stedim Biotech Group: Q1 2017 Results | 2017 Guidance 03 Questions & Answers
Slide 4: Q1 2017 highlights
Q1 2017 highlights Continued double-digit sales and earnings growth Very dynamic performance of LPS driven by organic growth and acquisitions Another innovative product family added to LPS’ bioanalytics portfolio with the acquisition of Essen BioScience Significant growth of BPS in view of normalize
Slide 5: Successful start to the year
Successful start to the year Sartorius Group in millions of € unless otherwise specified Q1 2016 Q1 2017 in % in % cc 1 Sales revenue 301.9 343.1 +13.6 +12.2 Order intake 330.1 376.9 +14.2 +12.7 Underlying EBITDA2 72.3 84.6 +17.0 Underlying EBITDA2 margin in % 24.0 24.7 Underlying EPS 3,4 (ord.) in
Slide 6: Growth led by Asia|Pacific; moderate start in the Americas
Growth led by Asia|Pacific; moderate start in the Americas Americas EMEA Asia | Pacific Sales by Region € in millions € in millions € in millions in % 151.2 139.8 EMEA ~ 44% 111.9 103.6 Americas ~ 33% 80.0 58.6 ~ €343m Asia | Pacific ~ 23% Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 +4.9 % +8.9 % +33.3 % Ac
Slide 7: BPS: Significant growth in view of normalized market conditions
BPS: Significant growth in view of normalized market conditions Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +10.1% cc +9.4% cc +12.1% +11.5% +10.7% 283.5 254.2 251.1 68.4 226.9 61.0 27.2% 26.9% Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 Substantially ab
Slide 8: LPS: Dynamic performance due to organic growth and acquisitions
LPS: Dynamic performance due to organic growth and acquisitions Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +21.4% cc +21.0% cc +43.1% +23.1% +22.7% 93.4 92.0 16.3 75.9 75.0 11.4 17.7% 15.2% Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 Strong organic grow
Slide 9: LPS' bioanalytics offering recently expanded through acquisition of Essen BioScience
LPS’ bioanalytics offering recently expanded through acquisition of Essen BioScience Pioneer and innovation leader in cell analysis systems for pharmaceutical research Headquartered in Ann Arbor, Michigan; ~ 150 employees Annual sales of ~$60mn expected for 2017; profitability about at Group l
Slide 10: Innovative technology with significant growth potential
Innovative technology with significant growth potential System solution consists of an instrument, software, reagents and consumables for image-based cell analysis Analyzes, for example, cell health, morphology and movement Fully automated time-lapse image capture within the incubator and over
Slide 11: Ideal fit between Essen and IntelliCyt
Ideal fit between Essen and IntelliCyt Both businesses address the same customers, i.e., biopharma labs and academia Complementary applications and unique technologies; no direct competition Combination of high throughput (IntelliCyt) and real-time quantitative analysis (Essen) creates the broadest
Slide 12: Cash flow influenced by Essen acquisition
Cash flow influenced by Essen acquisition Sartorius Group € in millions Q1 2016 Q1 2017 in % Financial result in Q1 2016 benefited from valuation Underlying EBITDA 72.3 84.6 +17.0 effects of derivatives | fx loans Extraordinary items 6.2 6.1 -2.3 Net operating cash flow Financial result -0.8 -3.
Slide 13: Financial position remains very robust
Financial position remains very robust Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Group Dec. 31, 2016 Mar. 31, 2017 800 3.0 3 2.4 2.4 600 Equity ratio in % 42.0 34.2 1.8 1.8 400 Net debt in millions of € 485.9 796.3 1.2 1.2 200 0.6 0.6 Net debt | underlying EBITDA 1.5 2.4 00 0
Slide 14: Acquisition of Umetrics strengthens BPS' competence in data analytics
Acquisition of Umetrics strengthens BPS’ competence in data analytics Leading software for bioprocess data analytics Powerful solutions for modeling and optimizing development and manufacturing processes of biopharmaceuticals Successful distribution and co-marketing cooperation with Umetrics sin
Slide 15: Recently upgraded outlook confirmed
Recently upgraded outlook confirmed Q1 2017 FY 2017 Guidance1 Sales Revenue Underlying Sales Revenue Underlying Growth1 EBITDA Margin Growth EBITDA Margin > +0.5pp Sartorius Group 12.2% 24.7% ~ 12% - 16% (FY 2016: 25.0%) ~ +0.5pp Bioprocess Solutions 9.4% 27.2% ~ 9% - 13% (FY 2016: 28.0%) 1 In const
Slide 16: Agenda
Agenda 01 Sartorius Group: Q1 2017 Results | 2017 Guidance 02 Sartorius Stedim Biotech Group: Q1 2017 Results | 2017 Guidance 03 Questions & Answers
Slide 17: Good start to the year given normalized market growth
Good start to the year given normalized market growth Sartorius Stedim Biotech Group in millions of € unless otherwise specified Q1 2016 Q1 2017 in % in % cc 1 Sales revenue 245.8 268.8 +9.4 +8.2 Order intake 274.1 302.1 +10.2 +9.0 Underlying EBITDA2 64.6 71.9 +11.2 Underlying EBITDA2 margin in % 26
Slide 18: Growth led by Asia|Pacific; moderate start in the Americas
Growth led by Asia|Pacific; moderate start in the Americas Americas EMEA Asia | Pacific Sales by Regions in € millions in € millions in € millions in % 114.1 117.4 91.0 94.1 EMEA ~ 44% 57.3 40.7 Americas ~ 35% ~ €269m Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 +0.4% +4.0% +37.5% Asia | Pacific ~ 21% Acc. t
Slide 19: Operating cash flow compares with a very strong prior-year basis
Operating cash flow compares with a very strong prior-year basis Sartorius Stedim Biotech Group € in millions Q1 2016 Q1 2017 in % Financial result in Q1 2016 benefited from valuation effects Underlying EBITDA 64.6 71.9 +11.2 of derivatives | fx loans Extraordinary items 3.5 2.0 -43.1 Net operat
Slide 20: Financial position remains very strong
Financial position remains very strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31, 2016 Mar. 31, 2017 150 1.5 1.5 1.5 Equity ratio in % 63.9 61.9 120 1.2 1.2 1.2 90 0.9 0.9 0.9 Net debt in millions of € 67.6 74.8 60 0.6 0.6 0.6 30 0.3 0.3 0.3 Net debt | u
Slide 21: Outlook for 2017 confirmed
Outlook for 2017 confirmed Q1 2017 FY 2017 Guidance Sales revenue growth1 8.2% ~ 8% - 12% ~ +0.5pp1 Underlying EBITDA margin 26.7% (FY 2016: 27.5%) Capex ratio 11.3% ~ 10% - 13% 1 In constant currencies Guidance includes ~ 1pp of growth expected to be contributed by the acquisition of Umetrics P
Slide 22: Agenda
Agenda 01 Sartorius Group: Q1 2017 Results | 2017 Guidance 02 Sartorius Stedim Biotech Group: Q1 2017 Results | 2017 Guidance 03 Questions & Answers
Slide 23: Thank you very much for your attention
Thank you very much for your attention