Slide 1: Conference Call 9M 2023 Results
Conference Call 9M 2023 Results Joachim Kreuzburg, Rainer Lehmann, René Fáber Sartorius | Sartorius Stedim Biotech | October 19, 2023
Slide 2: 9M 2023 overview
9M 2023 overview ▪ Top line development influenced by various industry-wide headwinds ▪ Demand in Bioprocess Solutions shows signs of recovery but is picking up slower than expected ▪ Market environment for Lab division increasingly challenging during Q3 ▪ Profitability impacted by volume and produc
Slide 3: Agenda
Agenda Sartorius Group 9M 2023 results | FY 2023 guidance Sartorius Stedim Biotech Group 9M 2023 results | FY 2023 guidance Questions & Answers 3
Slide 4: Top and bottom line impacted by temporarily weak demand
Sartorius Group Top and bottom line impacted by temporarily weak demand Sartorius Group 9M 2022 9M 2023 in % in % cc1 in millions of € unless otherwise specified Sales revenue 3,113 2,546 -18.2 -16.4 Order intake 3,121 2,201 -29.5 -27.9 Underlying EBITDA2 1,051 733 -30.3 Underlying EBITDA2 margin in
Slide 5: Navigating through volatility: Temporary decline in perspective
Sartorius Group Navigating through volatility: Temporary decline in perspective vs. 9M 19 vs. 9M 20 Sales revenue +88% +50% Order intake +54% +11% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2020 2021 2022 2023 Sales ex Covid Covid-19-related sales Order intake 5
Slide 6: All regions influenced by destocking and low investments, mainly in the USA and China
Sartorius Group All regions influenced by destocking and low investments, mainly in the USA and China Americas EMEA Asia|Pacific Sales by region € in millions € in millions € in millions in % -12.3% -15.4% -23.4% EMEA Americas 1,130 1,158 ~ 38% ~ 38% 973 973 825 600 €2,546m 9M 2022 9M 2023 9M 2022 9
Slide 7: Bioprocess Solutions: ongoing destocking; relatively low production levels
Sartorius Group Bioprocess Solutions: ongoing destocking; relatively low production levels Order intake Sales revenue Underlying EBITDA & margin € in millions € in millions € in millions -28.9% cc -17.7% cc -30.4% -19.3% -32.9% 2,452 2,471 1,993 1,708 1000 881 80 800 592 35.7 60 600 40 400 20 200 29
Slide 8: Lab Products & Services dampened by cautious cash management by biopharma customers
Sartorius Group Lab Products & Services dampened by cautious cash management by biopharma customers Order intake Sales revenue Underlying EBITDA & margin € in millions € in millions € in millions -24.2% cc -11.4% cc -26.3% -13.9% -16.8% 669 642 553 170 493 141 26.5 25.6 9M 2022 9M 2023 9M 2022 9M 20
Slide 9: High investing cash flow; now strong focus on internal cash generation
Sartorius Group High investing cash flow; now strong focus on internal cash generation Sartorius Group 9M 2022 9M 2023 in % in millions of € unless otherwise specified Underlying EBITDA 1,051 733 -30.3 Extraordinary items -26 -96 > -100 ▪ Extraordinary items driven by acquisitions and integrations,
Slide 10: Balance sheet reflects Polyplus acquisition; significant deleveraging projected
Sartorius Group Balance sheet reflects Polyplus acquisition; significant deleveraging projected Key financial indicators Net debt and net debt to underlying EBITDA Dec. 31, Sept. 30, Sartorius Group 5.0 2022 2023 5,000 4.0 4,000 Equity ratio in % 38.1 27.6 3.0 3,000 2,000 2.0 Net debt in millions of
Slide 11: Outlook 2023 updated on October 12
Outlook 2023 updated on October 12 Guidance 2023 Sales revenue development Underlying EBITDA margin Sartorius Group ~ -17% slightly above 28% excluding Covid-related business ~ -12% thereof from acquisitions ~2pp Bioprocess Solutions ~ -18% slightly above 29% excluding Covid-related business ~ -13%
Slide 12: Additional sustainability target: Climate neutral by 2045
Additional sustainability target: Climate neutral by 2045 Long-term target complements existing climate strategy ▪ Decarbonization in collaboration with suppliers and customers ▪ 100% electricity from renewable sources by 2030 ▪ Electricity from hydropower at German sites in Göttingen, Guxhagen and
Slide 13: Agenda
Agenda Sartorius Group 9M 2023 results | FY 2023 guidance Sartorius Stedim Biotech Group 9M 2023 results | FY 2023 guidance Questions & Answers 13
Slide 14: Top and bottom line impacted by temporarily weak demand
Sartorius Stedim Biotech Group Top and bottom line impacted by temporarily weak demand Sartorius Stedim Biotech Group 9M 2022 9M 2023 in % in % cc1 in millions of € unless otherwise specified Sales revenue 2,603 2,069 -20.5 -19.0 Order intake 2,601 1,760 -32.4 -31.0 Underlying EBITDA2 912 594 -34.9
Slide 15: Navigating through volatility: Temporary decline in perspective
Sartorius Stedim Biotech Group Navigating through volatility: Temporary decline in perspective vs. 9M 19 vs. 9M 20 Sales revenue +92% +48% Order intake +53% +6% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2020 2021 2022 2023 Sales ex Covid Covid-19-related sales Order intake 15
Slide 16: All regions influenced by destocking and low investments, mainly in the USA and China
Sartorius Stedim Biotech Group All regions influenced by destocking and low investments, mainly in the USA and China Americas EMEA Asia|Pacific Sales by region € in millions € in millions € in millions in % -12.4% -18.4% -28.7% EMEA Americas 927 990 ~ 39% ~ 39% 799 804 686 466 €2,069m 9M 2022 9M 202
Slide 17: High investing cash flow; now strong focus on internal cash generation
Sartorius Stedim Biotech Group High investing cash flow; now strong focus on internal cash generation Sartorius Stedim Biotech Group 9M 2022 9M 2023 in % in millions of € unless otherwise specified Underlying EBITDA 912 594 -34.9 Extraordinary items -13 -76 > -100 ▪ Extraordinary items driven by acq
Slide 18: Balance sheet reflects Polyplus acquisition; significant deleveraging projected
Sartorius Stedim Biotech Group Balance sheet reflects Polyplus acquisition; significant deleveraging projected Key financial indicators Net debt and net debt to underlying EBITDA 4,000 5.0 Dec. 31, Sept. 30, Sartorius Stedim Biotech Group 2022 2023 4.0 3,000 3.0 Equity ratio in % 49.6 33.0 2,000 2.0
Slide 19: Outlook 2023 updated on October 12
Outlook 2023 updated on October 12 Guidance 2023 Sales revenue development Underlying EBITDA margin Sartorius Stedim Biotech Group ~ -19% slightly above 28% excluding Covid-related business ~ -14% thereof from acquisitions ~2pp ▪ Covid-related business expected to be marginal ▪ Margin targets includ
Slide 20: Questions & Answers
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Slide 21: 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