Slide 1: Q1 2022 Earnings Presentation
BRUKER CORPORATION (NASDAQ: BRKR) Q1 2022 Earnings Presentation May 4, 2022 Frank H. Laukien, President & CEO Gerald Herman, Executive Vice President & Chief Financial Officer Justin Ward, Senior Director, Investor Relations & Corporate Development
Slide 2: Safe Harbor Statement
BRUKER CORP ORATI ON Safe Harbor Statement Any statements contained in this presentation which do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 193
Slide 3: Q1 2022 Business Update
Q1 2022 Business Update 3
Slide 4: Q1 2022: Continued Strong Organic Revenue Growth on Solid Demand for our Differentiated Products
Q1 2022 BUSINESS UPDATE Q1 2022: Continued Strong Organic Revenue Growth on Solid Demand for our Differentiated Products and Solutions Q1 2022 Performance Year-over-Year Q1 Financials Revenues [$M] ❖ Organic bookings growth for BSI strong with book-to-bill >1.1 ❖ Revenue increase of $40.3M, or +7.3%
Slide 5: Constant Currency Q1 2022 Revenue Performance Year-over-Year
GROUP OVERVIEW Constant Currency Q1 2022 Revenue Performance Year-over-Year(1) Bruker BIOSPIN Group ▪ BIOSPIN up low single digit %, on difficult comps due to 2 GHz-class NMRs in Q1 2021 and none in Q1 2022 ▪ BIOSPIN bookings up double digits on strength in academic and applied markets ▪ Technology
Slide 6: Constant Currency Q1 2022 Revenue Performance Year-over-Year
GROUP OVERVIEW Constant Currency Q1 2022 Revenue Performance Year-over-Year(1) Bruker NANO Group ▪ BNANO up high teens % with strong academic and industrial research demand; bookings up double digits ▪ X-Ray, Nano Surfaces tools with significant step-up ▪ Microelectronics and semiconductor metrology
Slide 7: Compact, Single-Story UHF NMR Magnet – Ascend Evo 1.0 GHz
PROJECT ACCELERATE 2.0: STRUCTURAL BIOLOGY & BIOPHARMA INITIATIVES Compact, Single-Story UHF NMR Magnet – Ascend Evo 1.0 GHz + 1.0 GHz for single-story labs: Easier siting with significantly reduced footprint, weight and ceiling height New technological marvel provides + Advanced hybrid high tempera
Slide 8: Record Revenues in Semiconductor Metrology
PROJECT ACCELERATE 2.0: SEMICONDUCTOR METROLOGY & MICROELECTRONICS INITIATIVE Record Revenues in Semiconductor Metrology Metrology Solutions for New Front-end Chip Structures to New Back-end 3D Packaging X-Ray Diffraction Enables Next-Generation 3D Chips Require Advanced Packaging Quality Control Ch
Slide 9: Q1 2022 Financial Update
Q1 2022 Financial Update 9
Slide 10: Q1 2022 Non-GAAP Financial Performance
Q1 2022 YEAR-OVER-YEAR COMPARISON Q1 2022 Non-GAAP Financial Performance [$ m, except EPS] Q1 2022 Q1 2021 Δ Comments (year-over-year) Revenues $595.0 $554.7 +7.3% Operating Income $115.8 $102.2 +13.3% ▪ Reported revenue up +7.3%, organic revenue up +10.5%, Operating Margin (%) 19.5% 18.4% +110 bps
Slide 11: Q1 2022 Revenue Bridge
NON-GAAP FINANCIAL PERFORMANCE Q1 2022 Revenue Bridge Q1 2022 Revenue Performance Year-over-Year Q1 2022 DRIVERS (year-over-year) Organic Currency Portfolio Total ▪ Reported revenue up +7.3% +10.5% -4.2% +1.0% +7.3% ▪ Organic revenue up +10.5% Q1 2022 Revenue Bridge [$M] ✓ BSI up +9.5% organic +$58.
Slide 12: Q1 2022 Non-GAAP Results Year-over-Year
NON-GAAP FINANCIAL PERFORMANCE Q1 2022 Non-GAAP Results Year-over-Year [$ m, except EPS] Q1 2022 Q1 2021 Δ Comments (year-over-year) Total Revenues 595.0 554.7 +7.3% ▪ Gross margin up +140 bps due to operating Gross Profit 313.3 284.3 +10.2% Margin (% of revenues) 52.7% 51.3% +140 bps leverage and f
Slide 13: Q1 2022 Cash Flow Year-over-Year
NON-GAAP FINANCIAL PERFORMANCE Q1 2022 Cash Flow Year-over-Year [$ m] Q1 2022 Q1 2021 Δ Comments (year-over-year) GAAP Net Income 62.1 57.8 +4.3 Q1 2022 free cash flow $58.8M, compared to Depreciation & amortization 21.7 22.3 -0.6 a record Q1 level of $73.3M in Q1 2021: Changes in working capital* (
Slide 14: FY 2022 Outlook
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Slide 15: FY 2022 Outlook
FY 2022 GUIDANCE FY 2022 Outlook Year-over-year FY 2022 Assumptions FY 2022 Guidance ▪ Organic revenue growth +7 to +9%; +1% from Revenue Growth +5% to +7% prior guidance ▪ FX revenue headwind approx. -3.5%; vs. -2% prior Non-GAAP Operating Margin +30 bps to +60 bps ▪ Acquisitions revenue tailwind ~
Slide 16: Appendix
Appendix 16
Slide 17: Q1 2022 Reconciliation of GAAP Reported Revenue Growth to Organic Revenue Growth
APPENDIX Q1 2022 Reconciliation of GAAP Reported Revenue Growth to Organic Revenue Growth [$M] Q1 2022 Q1 2021 Revenue as of the prior comparable period 554.7 424.0 Non-GAAP components: Acquisitions and divestures 5.8 3.2 Organic 58.2 100.7 Currency (23.7) 26.8 Revenue as of the current period 595.0
Slide 18: Q1 2022 GAAP Results Year-over-Year
APPENDIX Q1 2022 GAAP Results Year-over-Year [$M, except EPS] Q1 2022 Q1 2021 Δ Total Revenues 595.0 554.7 +7.3% Gross Profit 306.3 278.7 +9.9% Margin (% of revenue) 51.5% 50.2% SG&A (145.7) (131.8) +10.5% (% of revenues) 24.5% 23.8% R&D (56.6) (54.8) +3.3% (% of revenues) 9.5% 9.9% Operating Income
Slide 19: Q1 2022 Reconciliation of GAAP and Non-GAAP Results Year-over-Year
APPENDIX Q1 2022 Reconciliation of GAAP and Non-GAAP Results Year-over-Year [$M, except EPS] Q1 2022 Q1 2021 GAAP Operating Income 96.5 89.1 Restructuring Costs 0.4 2.4 Acquisition-Related Costs 5.3 0.9 Purchased Intangible Amortization 9.3 9.0 Other Costs 4.3 0.8 TOTAL 19.3 13.1 Non-GAAP Operating
Slide 20: Balance Sheet
APPENDIX Balance Sheet [$M, except EPS] Mar 31, 2022 Dec 31, 2021 Total Assets 3,566.4 3,650.0 Working Capital* 992.5 979.6 Goodwill, Intangibles, Net & Other Long-Term Assets 896.1 772.1 [$M, except EPS] Mar 31, 2022 Dec 31, 2021 Cash, Cash Equivalents & Short-term Investments 916.1 1,168.2 Financi
Slide 21: Q1 2022 BSI and BEST GAAP Performance Year-over-Year
APPENDIX Q1 2022 BSI and BEST GAAP Performance Year-over-Year [$M] Q1 2022 Q1 2021 Δ REVENUE Scientific Instruments (BSI) 539.5 506.2 +7% Organic Revenue Growth (%) +9.5% +25.6% Energy & Supercon Technologies (BEST) 59.7 52.4 +14% Corporate Eliminations (4.2) (3.9) Energy & Supercon Technologies (BE
Slide 22: Trailing Twelve Months Return on Invested Capital
APPENDIX Trailing Twelve Months Return on Invested Capital Trailing Twelve Months Ended [$M, except EPS] March 31, 2022 Non-GAAP Operating Income $483.8 Non-GAAP Income Tax Provision (132.0) Non-GAAP Operating Income after Tax 351.8 Average Total Invested Capital: Average Long-Term Debt $962.7 Avera
Slide 23: Innovation and Multiyear Transformation Delivering Shareholder Value
TRANSFORMATION UPDATE Innovation and Multiyear Transformation Delivering Shareholder Value Accelerated Revenue Growth & Margin Expansion, With Top-Tier ROIC Revenue Growth Acceleration Significant non-GAAP Operating Non-GAAP EPS DD CAGR Margin expansion, ROIC >20% $2.10 $2.4B 28% ROIC $2.1B $2.0B $1
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