Slide 1: Conference Call H1 2021 Results
Conference Call H1 2021 Results Joachim Kreuzburg, Rainer Lehmann Sartorius | Sartorius Stedim Biotech | July 21, 2021
Slide 2: Disclaimer
Disclaimer This presentation contains statements concerning the future performance of the Sartorius and the Sartorius Stedim Biotech Groups. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee tha
Slide 3: Highlights H1 2021
Highlights H1 2021 60 percent top-line growth, thereof 22 percentage points corona-related and 8 percentage points non-organic Both divisions with dynamic organic growth and margin expansion against moderate comps Accelerated capacity expansion on schedule Acquisition of majority stake in ce
Slide 4: Agenda
Agenda Sartorius Group H1 2021 results | FY 2021 guidance Sartorius Stedim Biotech Group H1 2021 results | FY 2021 guidance Questions & Answers 4
Slide 5: Strong profitable growth
Strong profitable growth Sartorius Group H1 2020 H1 2021 in % in % cc1 in millions of € unless otherwise specified Sales revenue 1,056.8 1,629.2 +54.2 +60.1 Order intake 1,244.8 2,178.8 +75.0 +82.4 Underlying EBITDA2 293.5 555.3 +89.2 Underlying EBITDA2 margin in % 27.8 34.1 +6.3pp Underlying EPS3 (
Slide 6: Strong increase of new hires; underproportionate to sales development
Strong increase of new hires; underproportionate to sales development H1 cc group sales revenue growth ~60% End of H1/2021, 11,981 employees work at Sartorius Higher increase in employees compared with previous years especially attributable to expansion of production capacities H1 y/y group head
Slide 7: High double-digit sales growth in all geographies
High double-digit sales growth in all geographies Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +52.0% +63.8% +65.5% EMEA 682.5 ~ 42% Americas 519.0 ~ 32% 427.6 373.1 419.5 264.2 €1,629.2m Asia|Pacific H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 ~ 26%
Slide 8: BPS: Dynamic growth backed by expanded production capacities and stable supply chains
BPS: Dynamic growth backed by expanded production capacities and stable supply chains Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +91.0% cc +62.6% cc +86.2% +83.1% +56.5% 1,803.4 460.2 1,266.5 984.9 247.2 809.3 36.3% 30.5% H1 2020 H1 2021 H1 2020 H
Slide 9: LPS: Strong performance against soft prior-year comps
LPS: Strong performance against soft prior-year comps Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +49.9% cc +52.0% cc +105.1% +44.5% +46.6% 375.5 362.7 95.1 259.9 247.5 46.4 26.2% 18.7% H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 Substantial
Slide 10: Operating cash flow increases significantly
Operating cash flow increases significantly Net operating cash flow mostly driven by higher Sartorius Group H1 2020 H1 2021 in % in millions of € unless otherwise specified earnings Underlying EBITDA 293.5 555.3 +89.2 Extraordinary items in prior-year influenced by M&A and corporate projects Ext
Slide 11: Financial indicators remain on very solid level
Financial indicators remain on very solid level Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, June 30, Sartorius Group 2,000 4.0 2020 2021 1,500 3.0 Equity ratio in % 29.9 31.3 1,000 2.0 Net debt in millions of € 1,883.9 1,698.4 500 1.0 0 0.0 Net debt | underlying 2.6
Slide 12: Acquisition of cell culture specialist CellGenix – Transaction summary
Acquisition of cell culture specialist CellGenix – Transaction summary Founded in 1994 Strategic rationale Headquartered in Freiburg, Germany Acquisition of a leading supplier of critical cell culture components for advanced therapies; perfect fit with our existing media offering ~70 employees C
Slide 13: Strong outlook for 2021, uncertainties remain higher as usual
Strong outlook for 2021, uncertainties remain higher as usual Old Guidance New Guidance1 Sales Revenue Underlying Sales Revenue Underlying Growth EBITDA Margin Growth EBITDA Margin Sartorius Group ~35% ~32% ~45% ~34% - growth by acquisitions | Corona demand ~5.5pp | ~16pp ~4.5pp | ~17pp Bioprocess S
Slide 14: Agenda
Agenda Sartorius Group H1 2021 results | FY 2021 guidance Sartorius Stedim Biotech Group H1 2021 results | FY 2021 guidance Questions & Answers 14
Slide 15: Exceptionally strong and profitable growth in H1 2021
Sartorius Stedim Biotech Group Exceptionally strong and profitable growth in H1 2021 Sartorius Stedim Biotech Group H1 2020 H1 2021 in % in % cc1 in millions of € unless otherwise specified Sales revenue 869.1 1,351.9 +55.6 +61.1 Order intake 1,048.7 1,889.9 +80.2 +87.4 Underlying EBITDA2 262.3 487.
Slide 16: High double-digit sales growth in all geographies
Sartorius Stedim Biotech Group High double-digit sales growth in all geographies Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +46.1% +71.3% +66.1% EMEA 580.1 ~ 43% Americas ~ 31% 419.8 312.6 340.3 352.0 €1,351.9m 216.2 Asia|Pacific ~ 26% H1 2020 H1 2021 H
Slide 17: Operating cash flow rises significantly
Sartorius Stedim Biotech Group Operating cash flow rises significantly Net operating cash flow mostly driven by higher Sartorius Stedim Biotech Group H1 2020 H1 2021 in % in millions of € unless otherwise specified earnings Underlying EBITDA 262.3 487.4 +85.8 Extraordinary items in prior-year in
Slide 18: Financial indicators remain on very solid level
Sartorius Stedim Biotech Group Financial indicators remain on very solid level Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA 600 1.8 Dec. 31, June 30, Sartorius Stedim Biotech 2020 2021 500 1.5 400 1.2 Equity ratio in % 48.4 48.1 300 0.9 200 0.6 Net debt in millions of € 527.3
Slide 19: Strong outlook for 2021, uncertainties remain higher than usual
Sartorius Stedim Biotech Group Strong outlook for 2021, uncertainties remain higher than usual FY 2021 Guidance1 [change vs. previous guidance] Sales revenue Underlying growth EBITDA margin Sartorius Stedim Biotech ~ 48% [+10pp] ~ 36.0% [+3pp] Pandemic related demand is expected to contribute ~20p
Slide 20: Questions & Answers
Questions & Answers 20