Sartorius AG · XETR:SRT

Sartorius — FY2015 Earnings Presentation

23 slides from Sartorius's earnings presentation, Feb 1, 2016

  1. Slide 1: Conference Call Preliminary FY 2015 Results

    Conference Call Preliminary FY 2015 Results Joachim Kreuzburg, CEO | February 1, 2016

  2. 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

  3. Slide 3: Agenda

    Agenda 01 Sartorius Group: FY 2015 Results | 2016 Guidance | 2020 Update 02 Sartorius Stedim Biotech Group: FY 2015 Results | 2016 Guidance | 2020 Update 03 Questions & Answers

  4. Slide 4: Strong Performance in Line with Updated Expectations

    Strong Performance in Line with Updated Expectations Very dynamic growth in order intake, sales revenues and earnings Outstanding development of BPS driven by higher-than-expected market growth and ongoing market share gains LPS continued positive development in line with expectations Recent acquisi

  5. Slide 5: Significant Growth Across All Lines

    Significant Growth Across All Lines Sartorius Group FY FY Change Change in millions of € unless otherwise specified 2014 2015 in % in % cc 1 Order intake 929.2 1,172.7 26.2 17.1 Sales revenue 891.2 1,114.8 25.1 16.0 Underlying EBITDA2 186.8 263.2 40.9 Underlying EBITDA2 margin in % 21.0 23.6 +2.6 pp

  6. Slide 6: Broad-based Business Expansion Driven by All Regions

    Broad-based Business Expansion Driven by All Regions Americas EMEA Asia | Pacific Sales by Regions Sales in € million Sales in € million Sales in € million in % 505.5 431.5 371.7 EMEA ~ 45% 237.6 260.3 199.4 Americas ~ 34% € 1,114.8mn FY 14 FY 15 FY 14 FY 15 FY 14 FY 15 + 21.1% + 15.7% + 9.8% Asia |

  7. Slide 7: BPS: Outstanding Development in 2015

    BPS: Outstanding Development in 2015 Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +22.8% cc +20.9% cc +47.3% +33.3% +31.4% 869.9 809.2 214.5 652.7 615.6 145.6 26.5% 23.7% FY 14 FY 15 FY 14 FY 15 FY 14 FY 15  Biopharma market dynamics stronger than

  8. Slide 8: LPS: Robust Progress in Line with Expectations

    LPS: Robust Progress in Line with Expectations Order Intake Sales Revenue Underlying EBITDA & Margin € in millions € in millions € in millions +3.7% cc +5.0% cc +18.4% +9.5% +10.9% 302.8 305.5 276.5 275.5 48.8 41.2 16.0% 15.0% FY 14 FY 15 FY 14 FY 15 FY 14 FY 15  All regions and product lines drove

  9. Slide 9: Strong Operational Cash Flow Performance

    Strong Operational Cash Flow Performance Sartorius Group FY FY Change  Financial result mainly in millions of € 2014 2015 in % influenced by lower valuation Underlying EBITDA 186.8 263.2 40.9 effects  Reported net profit includes Extraordinary items -8.3 -12.6 -51.8 gain from Intec divestiture Fin

  10. Slide 10: Financial Position Further Strengthened

    Financial Position Further Strengthened Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Group Dec. 31 Dec. 31 3.0 20141 2015 375 Equity ratio in % 39.1 44.9 2.0 250 Net debt in millions of € 335.6 344.0 1.0 125 Net debt | underlying EBITDA 1.7 1.3 0 0.0 1 Including discontinued oper

  11. Slide 11: 2016 Guidance - Continued Profitable Growth Expected

    2016 Guidance - Continued Profitable Growth Expected FY 2015 2016 Guidance1 Sales revenue Underlying Sales revenue Underlying growth1 EBITDA margin growth EBITDA margin Sartorius Group 16.0% 23.6% ~ 10% - 14% ~ +1 pp Bioprocess Solutions 20.9% 26.5% ~ 13% - 17% ~ +1 pp Lab Products & Services 5.0% 1

  12. Slide 12: Update of 2020 Financial Targets

    Update of 2020 Financial Targets 2011-2015 Performance Review Strategic Initiatives Sales CAGR1 ~ 9% Regional Share of net incremental sales from M&A2 ~ 1% Gain share in North America Leverage market growth in Asia Executed Organic sales CAGR1,3 ~ 9% EBITDA3 margin + 5 pp Portfolio 1,115 Alliances a

  13. Slide 13: 2020 Sales Target Confirmed; Margin Target Upgraded

    2020 Sales Target Confirmed; Margin Target Upgraded Targets Set in 2011 Updated Targets 2020 ~ €2 bn ~ €2 bn 2 Confirmed Sales revenue Sales revenue ~ 2|3 ~ 1|3 ~ 3|4 ~ 1|4 Organic Acquisitions Organic Acquisitions Adjusted ~ 23% ~ 26-27% 2 Upgraded EBITDA1 margin EBITDA1 margin 1 Excluding extraord

  14. Slide 14: Agenda

    Agenda 01 Sartorius Group: FY 2015 Results | 2016 Guidance | 2020 Update 02 Sartorius Stedim Biotech Group: FY 2015 Results | 2016 Guidance | 2020 Update 03 Questions & Answers

  15. Slide 15: Outstanding Performance in Line with Updated Expectations

    Outstanding Performance in Line with Updated Expectations Sartorius Stedim Biotech FY FY Change Change in millions of € unless otherwise specified 2014 2015 in % in % | cc Order intake 722.1 946.4 31.1 21.1 Sales revenue 683.5 884.3 29.4 19.4 Underlying EBITDA 160.5 231.3 44.2 Underlying EBITDA marg

  16. Slide 16: Excellent Development Supported by All Regions, Especially Americas

    Excellent Development Supported by All Regions, Especially Americas Americas EMEA Asia | Pacific Sales by Regions Sales in € million Sales in € million Sales in € million in % 397.2 323.5 322.1 EMEA ~ 45% 219.6 163.7 141.8 Americas ~ 37% € 884.3mn FY 14 FY 15 FY 14 FY 15 FY 14 FY 15 + 24.7% + 21.2%

  17. Slide 17: Significant Increase in Operating Cash Flow

    Significant Increase in Operating Cash Flow Sartorius Stedim Biotech Group FY FY Change  Financial result influenced by in millions of € 2014 2015 in % lower interest expenses and, in Underlying EBITDA 160.5 231.3 44.2 contrast, by valuation effects of derivatives |fx loans - mainly Extraordinary i

  18. Slide 18: Financial Position Remained Strong

    Financial Position Remained Strong Key Financial Indicators Net Debt to Underlying EBITDA Sartorius Stedim Biotech Dec. 31 Dec. 31 2014 2015 150 2.0 Equity ratio in % 59.4 60.7 1.5 100 1.0 Net debt in millions of € 87.4 86.4 50 0.5 Net debt | underlying EBITDA 0.5 0.4 0 0.0 Q1-Q4 Q1-Q4 Q1-Q4 Q1-Q4 Q

  19. Slide 19: 2016 Guidance – Positive Momentum Expected to Continue

    2016 Guidance – Positive Momentum Expected to Continue FY 20151 2016 Guidance1 Sales revenue growth 19.4% ~ 12% - 16% Underlying EBITDA margin 26.2% ~ +1 pp 1 In constant currencies  Guidance includes growth of ~ 1.5 pp expected to be contributed by BioOutsource and Cellca  About half of the margi

  20. Slide 20: Update of 2020 Financial Targets

    Update of 2020 Financial Targets 2011-2015 Performance Review Strategic Initiatives Sales CAGR1 ~ 14% Regional Share of incremental sales from M&A2 ~ 18% Gain share in North America Leverage market growth in Asia Executed Organic sales CAGR1,3 ~ 10.5% EBITDA3 margin + 5.3 pp Portfolio 683.5 884.3 Al

  21. Slide 21: 2020 Targets Upgraded

    2020 Targets Upgraded Targets Set in 2011 Updated Targets 2020 ~ €1.5 bn ~ €1.5-1.6 bn 2 Upgraded Sales revenue Sales revenue ~ 2|3 ~ 1|3 ~ 4|5 ~ 1|5 Organic Acquisitions Organic Acquisitions Adjusted ~ 28% ~ 29-30% 2 Upgraded EBITDA1 margin EBITDA1 margin 1 Excluding extraordinary items 2 Based on

  22. Slide 22: Agenda

    Agenda 01 Sartorius Group: FY 2015 Results | 2016 Guidance | 2020 Update 02 Sartorius Stedim Biotech Group: FY 2015 Results | 2016 Guidance | Update 2020 03 Questions & Answers

  23. Slide 23: Thank you very much for your attention

    Thank you very much for your attention

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