Slide 1: Conference Call Preliminary FY 2021 Results
Conference Call Preliminary FY 2021 Results Joachim Kreuzburg, Rainer Lehmann Sartorius | Sartorius Stedim Biotech | January 27, 2022
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
Highlights Outstanding year 2021 in both divisions with strong top line and bottom line growth Portfolio strengthened by three acquisitions relevant for innovative applications Significant progress in capacity expansion initiatives 2022 forecast: Mid-teens growth against high comps, profitab
Slide 4: Agenda
Agenda Sartorius Group FY 2021 results | FY 2022 guidance | 2025 ambition Sartorius Stedim Biotech Group FY 2021 results | FY 2022 guidance | 2025 ambition Questions & Answers 4
Slide 5: Significant double-digit growth in sales, order intake and earnings
Sartorius Group Significant double-digit growth in sales, order intake and earnings Sartorius Group 2020 2021 in % in % cc1 in millions of € unless otherwise specified Sales revenue 2,335.7 3,449.2 +47.7 +49.3 Order intake 2,836.3 4,267.9 +50.5 +52.3 Underlying EBITDA2 692.2 1,175.0 +69.7 Underlying
Slide 6: Growth in all geographies on a similar high level
Sartorius Group Growth in all geographies on a similar high level Americas EMEA Asia|Pacific Sales by Region € in millions € in millions € in millions in % +45.5% +50.8% +52.3% EMEA 1,411.0 ~ 41% Americas ~ 33% 1,141.2 935.1 897.0 812.2 €3,449.2m 588.4 Asia|Pacific 2020 2021 2020 2021 2020 2021 ~ 26
Slide 7: BPS: Strong growth across the portfolio; stable, yet strained supply chains
Sartorius Group BPS: Strong growth across the portfolio; stable, yet strained supply chains Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +57.6% cc + 54.7% cc +71.3% +55.6% +53.0% 3,483.5 2,727.0 2,238.1 986.3 1,782.6 575.9 36.2% 32.3% 2020 2021 2020
Slide 8: LPS: Dynamic performance against moderate prior-year comps
Sartorius Group LPS: Dynamic performance against moderate prior-year comps Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +32.6% cc +32.0% cc +62.3% +31.1% +30.6% 784.4 722.2 598.2 553.0 188.8 116.3 26.1% 21.0% 2020 2021 2020 2021 2020 2021 Substant
Slide 9: Operating cash flow increases significantly
Sartorius Group Operating cash flow increases significantly Net operating cash flow mostly driven by higher Sartorius Group 2020 2021 in % in millions of € unless otherwise specified earnings Underlying EBITDA 692.2 1,175.0 +69.7 Extraordinary items influenced by M&A and corporate projects Extra
Slide 10: Financial indicators remain on very solid level
Sartorius Group Financial indicators remain on very solid level Key Financial Indicators Net Debt and Net Debt to Underlying EBITDA Dec. 31, Dec. 31, Sartorius Group 2,000 4.0 2020 2021 1,500 3.0 Equity ratio in % 30.8 30.2 1,000 2.0 Net debt in millions of € 1,883.9 1,732.7 500 1.0 0 0.0 Net debt |
Slide 11: Acquisition of Automated Lab Solutions expands LPS' bioanalytics offering
Sartorius Group Acquisition of Automated Lab Solutions expands LPS’ bioanalytics offering Jena, Germany Strategic rationale ~30 employees Complementary technology for automated analysis, selection and isolation of cells High single-digit revenue, double-digit EBITDA margin Improves access to lif
Slide 12: Ambitious climate targets to reduce CO2 emission intensity until 2030
Sartorius Group Ambitious climate targets to reduce CO2 emission intensity until 2030 CO2 emission intensity Ambitious targets also compared to other initiatives: Emissions in proportion to sales (kt CO2 / €) EU`s “Fit for 55” program: ~8.5% p.a.; Science Based Targets: ~7.0% p.a.; average commitm
Slide 13: Forecast for 2022
Sartorius Group Forecast for 2022 FY 2022 Guidance1 Sales Revenue Growth Underlying EBITDA Margin Sartorius Group ~14% - 18% ~34% - t/o growth by acquisitions ~1pp Bioprocess Solutions ~16% - 20% ~36% - t/o growth by acquisitions ~1pp Lab Products & Services ~6% - 10% ~26% - t/o growth by acquisitio
Slide 14: Sales revenue targets need to be considered over a multi-year period
Sartorius Group Sales revenue targets need to be considered over a multi-year period Sales CAGRs ~+18% Projected CAGR 2019-25 well above previous periods and above initial expectations Extraordinary growth from 2019 to 2021 even incl. Corona ~+37% ~+10% excluding Corona effects significantly exc
Slide 15: Updated profitability targets for 2025
Sartorius Group Updated profitability targets for 2025 BPS LPS Sartorius Group Sales ~€3.8bn ~€1.2bn €5bn revenue unchanged unchanged unchanged EBITDA ~36% ~28% ~34% margin previously ~34% previously ~25% previously ~32% Margin targets for each division and the Group include expenses for reduction o
Slide 16: Agenda
Agenda Sartorius Group FY 2021 results | FY 2022 guidance | 2025 ambition Sartorius Stedim Biotech Group FY 2021 results | FY 2022 guidance | 2025 ambition Questions & Answers 16
Slide 17: Exceptionally strong growth in sales, order intake and earnings
Sartorius Stedim Biotech Group Exceptionally strong growth in sales, order intake and earnings Sartorius Stedim Biotech Group 2020 2021 in % in % cc1 in millions of € unless otherwise specified Sales revenue 1,910.1 2,887.0 +51.1 +52.6 Order intake 2,381.0 3,664.4 +53.9 +55.6 Underlying EBITDA2 604.
Slide 18: 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 % +45.8% +57.5% +54.6% EMEA ~ 41% Americas 1,199.3 ~ 33% 946.0 670.2 761.0 741.7 €2,887.0m 478.9 Asia|Pacific ~ 26% 2020 2021 2020
Slide 19: 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 2020 2021 in % in millions of € unless otherwise specified earnings Underlying EBITDA 604.7 1,033.4 +70.9 Extraordinary items influenced by M&A an
Slide 20: 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, Dec. 31, Sartorius Stedim Biotech Group 2020 2021 500 1.5 400 1.2 Equity ratio in % 51.1 43.9 300 0.9 200 0.6 Net debt in millions of €
Slide 21: Forecast for 2022
Sartorius Stedim Biotech Group Forecast for 2022 FY 2022 Guidance1 Sales Revenue Growth Underlying EBITDA Margin Sartorius Stedim Biotech Group ~14-18% >35.0% - t/o growth by acquisitions ~1pp Pandemic-related business expected to be at the previous year’s level of around 500 million euros Margi
Slide 22: 2025 ambition – Updated profitability targets
Sartorius Stedim Biotech Group 2025 ambition – Updated profitability targets 2025 revenue target is based on the assumption Sartorius Stedim Biotech Group of no pandemic-related sales (vs. €500m in FY21 and FY22) The margin target includes expenses for Sales €4bn revenue unchanged reduction of t
Slide 23: Questions & Answers
Questions & Answers 23