Slide 1: Conference Call Preliminary FY 2017 Results
Conference Call Preliminary FY 2017 Results Joachim Kreuzburg, CEO Rainer Lehmann, CFO January 31, 2018
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: FY 2017 Results | 2018 Guidance 02 Sartorius Stedim Biotech Group: FY 2017 Results | 2018 Guidance 03 Questions & Answers
Slide 4: FY 2017 Highlights
FY 2017 Highlights Continued profitable growth in a challenging market and FX environment Lab Products & Services develops dynamically driven by both strong organic growth and acquisitions Bioprocess Solutions Division impacted by some temporary effects; strong order intake in H2 2017 Positive outlo
Slide 5: Continued profitable growth despite unfavorable FX trend
Continued profitable growth despite unfavorable FX trend Sartorius Group in millions of € unless otherwise specified FY 2016 FY 2017 in % in % cc 1 Sales revenue 1,300.3 1,404.6 +8.0 +9.3 Order intake 1,334.7 1,501.4 +12.5 +13.7 Underlying EBITDA2 325.4 353.2 +8.5 Underlying EBITDA2 margin in % 25.0
Slide 6: Growth strong in Asia, temporarily dampened in the Americas
Growth strong in Asia, temporarily dampened in the Americas Americas EMEA Asia | Pacific Sales by Region € in millions € in millions € in millions in % 604.5 569.1 EMEA ~ 43% 445.4 455.5 344.6 Americas ~ 32% 285.8 ~ € 1.4bn Asia | Pacific ~ 25% FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 +3.5 % +6.8 % +22.5
Slide 7: BPS: Order intake gaining momentum in H2
BPS: Order intake gaining momentum in H2 Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +9.7% cc +4.9% cc +3.3% +8.4% +3.6% 1,091.3 1,010. 1,006.5 3 282.4 975.0 273.5 28.0% 28.0% FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 Destocking by a few customers, tra
Slide 8: LPS: Dynamic development in line with expectations
LPS: Dynamic development in line with expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +25.8% cc +22.0% cc +36.3% +25.0% +21.2% 410.1 394.2 70.8 328.1 325.3 51.9 18.0% 16.0% FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 All regions and all product
Slide 9: Cash flow influenced by recent acquisitions
Cash flow influenced by recent acquisitions Sartorius Group € in millions FY 2016 FY 2017 in % Change in financial result due to debt-rel. interest expenses Underlying EBITDA 325.4 353.2 +8.5 Increase in EBITDA and lower tax Extraordinary items -30.7 -35.5 -15.5 payments drive net operating cash
Slide 10: Key financial indicators remain at robust levels
Key financial indicators remain at robust levels Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Group Dec. 31, 2016 Dec. 31, 2017 1000 3.0 3 800 2.4 2,4 Equity ratio in % 42.0 35.1 600 1.8 1,8 Net debt in millions of € 485.9 895.5 400 1.2 1,2 200 0.6 0,6 Net debt | underlying EBITD
Slide 11: Implications of US tax reform for Sartorius
Implications of US tax reform for Sartorius In fiscal 2017, Sartorius realizes a non-cash-effective, one-time benefit from revaluation of deferred tax assets and liabilities of around € 16mn; therefore tax rate at 20% (prev. year: 29%) From 2018 onwards, Group´s tax rate is expected to decrease
Slide 12: Outlook for 2018
Outlook for 2018 FY 2017 FY 2018 Guidance1 Sales Revenue Underlying Sales Revenue Underlying Growth1 EBITDA Margin Growth EBITDA Margin Sartorius Group 9.3% 25.1% ~ 9% - 12% ~ +0.5pp Bioprocess Solutions 4.9% 28.0% ~ 8% - 11% ~ +0.5pp Lab Products & Services 22.0% 18.0% ~ 12% - 15% ~ +1.0pp 1 In con
Slide 13: Sartorius Stedim Biotech Group
Agenda 01 Sartorius Group: FY 2017 Results | 2018 Guidance 02 Sartorius Stedim Biotech Group: FY 2017 Results | 2018 Guidance 03 Questions & Answers
Slide 14: EBITDA influenced by FX headwinds; Strong order intake momentum
EBITDA influenced by FX headwinds; Strong order intake momentum Sartorius Stedim Biotech Group in millions of € unless otherwise specified FY 2016 FY 2017 in % in % cc 1 Sales revenue 1,051.6 1,081.0 +2.8 +4.1 Order intake 1,080.8 1,162.3 +7.5 +8.8 Underlying EBITDA2 288.7 294.9 +2.2 Underlying EBIT
Slide 15: Different development in the regions
Different development in the regions Americas EMEA Asia|Pacific Sales by Regions in € millions in € millions in € millions in % 454.4 460.7 387.8 368.8 EMEA ~ 43% 251.6 209.5 Americas ~ 34% € 1.08bn FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 -3.5% +2.2% +21.4% Asia | Pacific ~ 23% Acc. to customers‘ locati
Slide 16: Healthy cash flow performance; influenced by acquisitions
Healthy cash flow performance; influenced by acquisitions Sartorius Stedim Biotech Group € in millions Change in financial result mainly FY 2016 FY 2017 in % due to valuation effects of Underlying EBITDA 288.7 294.9 +2.2 derivatives | fx loans Extraordinary items -18.1 -22.6 -24.8 Net operating
Slide 17: Financial position remains very strong
Financial position remains very strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31, 2016 Dec. 31, 2017 180 1.5 1,5 150 1.2 1,2 Equity ratio in % 63.9 62.6 120 0.9 0,9 90 Net debt in millions of € 67.6 127.1 0.6 0,6 60 30 0.3 0,3 Net debt | underlying EBITD
Slide 18: Outlook for 2018
Outlook for 2018 FY 2017 FY 2018 Guidance Sales revenue growth1 4.1% ~ 7% - 10% Underlying EBITDA margin 27.3% ~ +0.5pp1 Capex ratio 12.6% ~ 15% 1 In constant currencies Growth guidance includes non-organic contribution by recent acquisition of ~ 0.5pp As a result from the US tax reform, SSB´s t
Slide 19: Questions & Answers
Agenda 01 Sartorius Group: FY 2017 Results | 2018 Guidance 02 Sartorius Stedim Biotech Group: FY 2017 Results | 2018 Guidance 03 Questions & Answers
Slide 20: Thank you very much for your attention
Thank you very much for your attention