Slide 1: Investor Conference Call | Q1 2024 Results
Investor Conference Call | Q1 2024 Results Joachim Kreuzburg, Florian Funck, René Fáber Sartorius | Sartorius Stedim Biotech | April 18, 2024
Slide 2: Q1 2024 shows expected mixed picture
Q1 2024 shows expected mixed picture Results largely within expectations: order intake significantly up, sales revenue still below strong prior year B-t-b ratio slightly above 1; dynamics vary across regions and customers Order intake for consumables picking up noticeably in both divisions; on
Slide 3: Agenda
Agenda Sartorius Group Q1 2024 results | FY 2024 guidance Sartorius Stedim Biotech Group Q1 2024 results | FY 2024 guidance Questions & Answers 3
Slide 4: Expected soft top line development vs. strong PY; robust profitability
Sartorius Group Expected soft top line development vs. strong PY; robust profitability Sartorius Group Q1 2023 Q1 2024 in % in % cc1 in millions of € unless otherwise specified Sales revenue 903 820 -9.3 -7.6 Order intake 765 826 8.0 9.8 Underlying EBITDA2 272 234 -13.8 Underlying EBITDA2 margin in
Slide 5: Demand normalization in all regions except China
Sartorius Group Demand normalization in all regions except China Americas EMEA Asia | Pacific Sales by region Sales | € in millions Sales | € in millions Sales | € in millions in % -9.3% -4.4% -10.4% EMEA Americas 359 341 ~42% ~35% 322 288 222 190 €820m Asia | Pacific Q1 2023 Q1 2024 Q1 2023 Q1 2024
Slide 6: Bioprocess Solutions: Recurring business continues to recover while equipment remains soft
Sartorius Group Bioprocess Solutions: Recurring business continues to recover while equipment remains soft Order intake Sales revenue Underlying EBITDA & margin € in millions € in millions € in millions 15.0% cc -5.3% cc 13.4% -6.9% -11.1% 653 695 647 576 217 193 50 200 45 150 40 100 35 30 50 31.2 2
Slide 7: Lab Products & Services: Below strong Q1 2023 but recovery ongoing except for China
Sartorius Group Lab Products & Services: Below strong Q1 2023 but recovery ongoing except for China; investment activity widely soft Order intake Sales revenue Underlying EBITDA & margin € in millions € in millions € in millions -6.2% cc -15.3% cc -8.2% -17.1% -24.4% 208 189 173 173 55 41 26.3 24.0
Slide 8: Operating cash flow influenced by phasing effects
Sartorius Group Operating cash flow influenced by phasing effects Sartorius Group Q1 2023 Q1 2024 in % in millions of € unless otherwise specified Underlying EBITDA 272 234 -13.8 Extraordinary items driven by reorganization and Extraordinary items -19 -16 +14.7 integration measures and corporate p
Slide 9: Balance sheet reflects recent capital measures; focus on strong cash generation
Sartorius Group Balance sheet reflects recent capital measures; focus on strong cash generation to drive further deleveraging Key financial indicators Net debt and net debt to underlying EBITDA Sartorius Group Dec. 31, Mar. 31, in millions of € unless otherwise specified 2023 2024 6.0 5,000 5.0 Non-
Slide 10: Guidance 2024 confirmed: Profitable growth with moderate H1 2024
Sartorius Group Guidance 2024 confirmed: Profitable growth with moderate H1 2024 Guidance 20241 Sales revenue growth Underlying EBITDA margin Sartorius Group Mid- to high single-digit percentage range slightly above 30% thereof from acquisitions ~1.5 pp Bioprocess Solutions Mid- to high single-digit
Slide 11: Agenda
Agenda Sartorius Group Q1 2024 results | FY 2024 guidance Sartorius Stedim Biotech Group Q1 2024 results | FY 2024 guidance Questions & Answers 11
Slide 12: Expected soft top line development vs. strong PY; robust profitability
Sartorius Stedim Biotech Group Expected soft top line development vs. strong PY; robust profitability Sartorius Stedim Biotech Group Q1 2023 Q1 2024 in % in % cc1 in millions of € unless otherwise specified Sales revenue 726 667 -8.2 -6.7 Order intake 601 676 12.5 13.9 Underlying EBITDA2 220 191 -13
Slide 13: Demand normalization in all regions except China
Sartorius Stedim Biotech Group Demand normalization in all regions except China Americas EMEA Asia|Pacific Sales by region Sales | € in millions Sales | € in millions Sales | € in millions in % -8.6% -3.8% -8.8% EMEA Americas ~ 43% ~ 35% 297 284 258 233 171 149 €667m Q1 2023 Q1 2024 Q1 2023 Q1 2024
Slide 14: Operating cash flow influenced by phasing effects
Sartorius Stedim Biotech Group Operating cash flow influenced by phasing effects Sartorius Stedim Biotech Group Q1 2023 Q1 2024 in % in millions of € unless otherwise specified Underlying EBITDA 220 191 -13.2 Extraordinary items driven by reorganization and integration measures and corporate proje
Slide 15: Balance sheet reflects recent capital measures; focus on strong cash generation
Sartorius Stedim Biotech Group Balance sheet reflects recent capital measures; focus on strong cash generation to drive further deleveraging Key financial indicators Net debt and net debt to underlying EBITDA Sartorius Stedim Biotech Dec. 31, Mar. 31, 4,000 6.0 Group 2023 2024 5.0 in millions of € u
Slide 16: Guidance 2024: Profitable growth with moderate first half of the year
Sartorius Stedim Biotech Group Guidance 2024: Profitable growth with moderate first half of the year Guidance 20241 Sales revenue growth Underlying EBITDA margin Sartorius Stedim Biotech Group Mid- to high single-digit percentage range above 30% thereof from acquisitions ~2 pp Growth momentum proj
Slide 17: Questions & Answers
Questions & Answers 17
Slide 18: 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