Sartorius AG · XETR:SRT

Sartorius — Sartorius Stedim Biotech — Shareholder Meeting (April 2014)

30 slides from Sartorius's shareholder meeting presentation, Apr 8, 2014

  1. Slide 1: Annual Shareholders' Meeting on April 8, 2014

    Welcome | Bienvenue | Benvenuti | Bienvenido | Willkommen | Welcome | Bienvenue | Benvenuti Annual AnnualShareholders’ Shareholders’Meeting Meetingon onApril April8,8,2014 2014 Bienvenue | Benvenuti | Bienvenido | Willkommen | Welcome | Bienvenue | Benvenuti | Bienvenid Willkommen | Welcome | Bienve

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains statements concerning Sartorius Stedim Biotech 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 materia

  3. Slide 3: Agenda

    Agenda 1 FY 2013 Results 2 Dividend Proposal 3 Proposed Share Capital Measures 4 Guidance 2014 5 Long-term Prospects – SSB 2020

  4. Slide 4: 2013 highlights: sales, EBITDA, EPS, dividends

    Sales revenue +11% 2013 1) underlying EBITDA +16% 2) underlying EPS +16% 3) Dividends +9% 4) 1) In constant currencies 2) Excluding extraordinary items 3) Excluding non-cash amortization and fair value adjustments of hedging instruments 4) Subject to approval by the AGM 4

  5. Slide 5: Dynamic Growth in Order Intake and Sales Revenue

    Dynamic Growth in Order Intake and Sales Revenue Order Intake in millions of € Sales revenue in millions of € Order Intake  + 13.7% in constant currencies 614.9 544.0 553.9 477.3  Strong demand for single-use products; special growth impulses particularly in Q1 for equipment Sales Revenue  + 10.8

  6. Slide 6: Double-Digit Growth in Asia and Europe

    Double-Digit Growth in Asia and Europe North America Europe Asia|Pacific Other Markets Sales1) by Regions Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € Sales1) in millions of € in % 287.1 261.8 Europe ~49% North America ~26 % 149.2 150.8 125.8 112.4 € 588.4mn Asia | Paci

  7. Slide 7: Overproportionate Earnings Growth Yet Again

    Overproportionate Earnings Growth Yet Again EBITDA EBITA EBITDA | EBITA margins Earnings per Share1)2) underlying1), in millions of € underlying1), in millions of € underlying1) in € 135.6 25 23.0 117.0 114.2 20.9 21.5 4.90 19.8 99.5 20 18.7 4.21 19.4 18.3 15 17.5 16.2 15.0 10 5 2012 2013 2012 2013

  8. Slide 8: Strong Cash Flow Performance

    Strong Cash Flow Performance Sartorius Stedim Biotech in millions of € FY 2012 FY 2013 Change in % (unless otherwise specified) Net Cash Flow from 48.9 90.1 84.2 Operating Activities Net Cash Flow from Investing -32.9 -73.4 -122.9 Actvities1)  Net cash flow from operating activities mainly driven b

  9. Slide 9: Strong Balance Sheet Despite High Investments and Acquisitions

    Strong Balance Sheet Despite High Investments and Acquisitions December 31, 2013 Assets Equity and Liabilities Non-current Assets €612.7mn 70.3% Equity €481.8mn 55.3% Current Assets €258.5mn 29.7% Financial Debt €165.6mn 19.0% Non-financial Debt €223.8mn 25.7% Total €871.2mn 100% Total €871.2mn 100%

  10. Slide 10: All Key Financial Indicators at Very Comfortable Levels

    All Key Financial Indicators at Very Comfortable Levels Key Financial Indicators Net Debt to EBITDA1) Sartorius Stedim Dec. 31 Dec. 31 Biotech 2012 2013 200 3.0 Net debt in millions of € 113.7 130.0 150 2.0 Gearing ratio 0.3 0.3 100 Net debt to underlying1) 1.0 1.0 1.0 50 EBITDA 0 0.0 Interest cover

  11. Slide 11: Balance Sheet of the Parent Company

    Balance Sheet of the Parent Company December 31, 2013 Assets Equity and Liabilities Non-current Assets €196.9mn 95.2% Equity €125.8mn 60.8% Current Assets €10.0mn 4.8% Liabilities €81.1mn 39.2% Total €206.9mn 100% Total €206.9mn 100%  Significant change of balance sheet structure due to creation of

  12. Slide 12: Significant Outperformance of SSB Shares

    Significant Outperformance of SSB Shares 220% 220 SSB +93.3% Market Capitalization 200 200% NASDAQ Biotech +66.6% CAC 90 +48.9% €2.3 bn SSB 180 180% SBF120 +22.6% as of April 3, 2014 NASDAQ 160 160% Biotech CAC90 140% 140 120 120% SBF120 100% 100 80% 80 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov D

  13. Slide 13: Agenda

    1 FY 2013 Results 2 Dividend Proposal 3 Proposed Share Capital Measures 4 Guidance 2014 5 Long-term Prospects – SSB 2020

  14. Slide 14: Fifth Dividend Increase in Succession

    Fifth Dividend Increase in Succession Earnings per Share1) Dividend in € per Share 4.90 1.20 4.21 1.10 1.00 3.49 0.90 2.81 0.60 2.04 2009 2010 2011 2012 2013 2009 2010 2011 2012 20132)  Dividend proposal to AGM implies an increase of 9.1% vs. prior year; payout ratio at 24.5% (2012: 26.1%) 1) Adjus

  15. Slide 15: Agenda

    Agenda 1 FY 2013 Results 2 Dividend Proposal 3 Proposed Share Capital Measures 4 Guidance 2014 5 Long-term Prospects – SSB 2020

  16. Slide 16: Proposals Regarding Share Capital Measures

    Proposals Regarding Share Capital Measures Resolutions submitted to the AGM for delegating authority to the Board of Directors Resolution 12 Increase nominal value of shares from € 0.61 to € 1.00 Resolution 13 Option to cancel the company‘s ~1.7m treasury shares Resolution 14-16, 20 Option to increa

  17. Slide 17: Agenda

    Agenda 1 FY 2013 Results 2 Dividend Proposal 3 Proposed Share Capital Measures 4 Guidance 2014 5 Long-term Prospects – SSB 2020

  18. Slide 18: Positive Outlook for 2014

    Positive Outlook for 2014 Sartorius Stedim Biotech FY Guidance Group 2013 2014 Sales revenue growth1) 10.8% ~11% - 14% Underlying 23.0% ~23.5%1) EBITDA margin2) Capex ratio 5.8% ~6% - 8%  TAP acquisition and remaining sales contribution from cell culture media to add ~6 pct. points to sales growth

  19. Slide 19: Agenda

    Agenda 1 FY 2013 Results 2 Dividend Proposal 3 Proposed Share Capital Measures 4 Guidance 2014 5 Long-term Prospects – SSB 2020

  20. Slide 20: Excellent Position in an Attractive Market

    Excellent Position in an Attractive Market Strong Business Model Supplier of key production technologies Attractive Biopharma Market Broadest portfolio in the industry Continously expanding market Focus on single-use products ⌀ growth 6% - 8%; high resilience to macro environment  75% recurring rev

  21. Slide 21: Strong Track Record of Profitable Growth

    Strong Track Record of Profitable Growth Sales Revenue Earnings in € million EBITDA & margin1) CAGR CAGR ~10% 588.4 ~16% 544.0 135.6 477.3 117.0 432.9 401.2 99.6 85.9 23.0 75.2 21.5 20.9 19.8 18.7 2009 2010 2011 2012 2013 2009 2010 2011 20122) 2013 1) Excluding extraordinary items 2) Restated 21

  22. Slide 22: Ambitious 2020 Targets Supported by Growth Initiatives

    Ambitious 2020 Targets Supported by Growth Inititatives Strategic Initiatives 2020 Ambition Regional  North America: Gain market share  Asia, esp. China: Leverage strong market growth ~€1.5bn Sales Revenue Portfolio  Own product development ~2/3 ~1/3 Organic Acquisitions  Expansion through allia

  23. Slide 23: Growth Initiative North America: Gain Market Share

    Regional Growth Initiative North America: Gain Market Share Sales share North America Sales revenue North America 2013 +4.4% 2012 ~26% +17.5% North America 2011 CAGR +7.6% ~10% 2010 +12.1% in constant currencies  North America the biggest single market for biopharma  SSBs‘ market shares in NA sign

  24. Slide 24: Growth Initiative Asia: Leverage Strong Market Growth

    Regional Growth Initiative Asia: Leverage Strong Market Growth Sales share Asia Sales revenue Asia 100% 2013 Other +19.0% 75% India 2012 ~21% +11.4% Asia 50% Japan CAGR China 2011 +28.7% ~22% 25% 2010 S. Korea +25.4% in constant currencies 0%  China and India among the strongest growing pharma mark

  25. Slide 25: Continuous Innovation in Core Technologies

    Portfolio Continuous Innovation in Core Technologies New PE Film for Single-Use Bags Less cartridges Less filtration time Outstanding robustness and flexibility Innovative Platinum Filter Full control of all critical components Less H2O consumption Higher yields Optimized cell growth performance New

  26. Slide 26: Complementary Alliances & Acquisitions Add to Growth

    Portfolio Complementary Alliances & Acquisitions Add to Growth Umetrics BlueSens  Significant expansion of technology portfolio and product offering ABER G-Con  Substantial extension of worldwide footprint Raumedic Südpack Medica Metroglas Refine Technology Lonza Cell Wave Biotech Culture Media AT

  27. Slide 27: Most Recent Acquisitions Enhance Portfolio

    Portfolio Most Recent Acquisitions Enhance Portfolio Cell culture media in December 2012 TAP Biosystems in December 2013  Strong first-year performance  Leading supplier of small scale,  Gradual business transition now multi-parallel single-use bioreactors completed  Sales revenue of ~€26mn, the

  28. Slide 28: Next Annual Shareholders' Meeting April 7, 2015

    Next Annual Shareholders‘ Meeting April 7, 2015, Aubagne

  29. Slide 29: Thank you very much for your attention

    Annual Shareholders‘ Meeting of Sartorius Stedim Biotech S.A. | April 8, 2014 | Aubagne |Annual Thank youAnnual very much for your attention. Shareholders’ Meeting Shareholders‘ Meeting of Sartorius Stedim Biotech S.A. | April 8, 2014 | Aubagne | Annual Shareholders‘ Meeting of Sartorius Stedim Biot

  30. Slide 30: Financial Calendar

    Financial Calendar  April 15, 2014 Payment of dividends  April 28, 2014 Publication of Q1 2014 figures  April 29, 2014 Oddo Midcap Forum, Frankfurt | Germany  May 13, 2014 Gilbert Dupont Healthcare Conference, Paris  May 28, 2014 Société Génerale Mid Cap Conference, Nice  July 22, 2014 Publica

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