Mettler Toledo International : Q4 2023 Earnings Conference Call Presentation

Earnings Call Webcast

February 9, 2024

Mettler-Toledo International Inc.

Q4 2023 Financial Results

Safe Harbor Statement

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Statements in this presentation which are not historical facts constitute "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses, actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. For a discussion of these risks and uncertainties, please see "Factors Affecting Our Future Operating Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the most recently completed fiscal year and other reports filed with the SEC from time to time.

Summary Comments

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Fourth Quarter 2023 Highlights

Local Currency	Adj Operating	Adjusted
Sales	Margin	EPS
(13%)	30.1%	$9.40
down (380bp)	down (22%)

• Our sales and Adjusted EPS were negatively impacted by the previously disclosed shipping delays of approximately $58m from a new external European logistics provider, which we expect to largely recover in Q1 2024. Excluding these delays, our results came in as we had expected as we continued to face challenging market conditions in the fourth quarter.
• Our team executed very well on our cost control initiatives, and cash flow generation for the quarter and the year was strong.
• We have continued to invest strongly in next-generation products and solutions and have also enhanced our best-in- class corporate programs by launching the next waves of Spinnaker and SternDrive. This will help us further increase our competitiveness and put us in an even more favorable position, especially once our markets pick up again.

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Sales by Geography

Q4 local currency sales growth
	Americas			Europe		Asia/ROW		Total
43%			28%	29%

9% LC

8% LC						$1,058	(13%) LC
(7%) LC
$428						$935
$402
			9% LC
		9% LC
		(16%) LC	$336	(18%) LC
		$294
			$273
			$260
4Q22	4Q23	4Q22	4Q23	4Q22	4Q23	4Q22	4Q23

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USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Geography

Full year local currency sales growth

Americas	Europe	Asia/ROW	Total
41%	27%		32%
						11% LC	(3%) LC
						$3,920
						$3,788
12% LC	(1%) LC
$1,582	$1,568			13% LC
				$1,323	(5%) LC
		6% LC	(2%) LC		$1,205
		$1,014	$1,015
2022	2023	2022	2023	2022	2023	2022	2023

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USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Product

Q4 local currency sales growth
	Laboratory			Industrial		Food Retail		Total
55%			40%	5%

9% LC

10% LC						$1,058	(13%) LC
$616	(18%) LC						$935
	$513
		6% LC	(7%) LC
		$396
		$370
				12% LC	9% LC
				$46	$51
4Q22	4Q23	4Q22	4Q23	4Q22	4Q23	4Q22	4Q23

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USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Product

Full year local currency sales growth

Laboratory	Industrial	Food Retail	Total
	55%	39%		6%	11% LC	(3%) LC
						$3,920
12% LC					$3,788
$2,230	(7%) LC
	$2,069
		9% LC	(1%) LC
		$1,511	$1,490
				1% LC	27% LC
				$229
				$179
2022	2023	2022	2023	2022	2023	2022	2023

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USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Profit & Loss Statement - Q4 2023

(USD in 000's)	Q4 2023	Q4 2022	Change
Net Sales	$934,992	$1,057,685	(12%)
Local Currency Growth %	(13%)	9%
Gross Profit	551,638	632,140	(13%)
Gross Profit Margin %	59.0%	59.8%	(80bp)
Research and Development	46,435	45,942	1%
% of Sales	5.0%	4.3%	70bp
Selling, General and Administrative	223,427	227,586	(2%)
% of Sales	23.9%	21.5%	240bp
Adjusted Operating Profit	281,776	358,612	(21%)
Adj Margin %	30.1%	33.9%	(380bp)
Adjusted EPS	$9.40	$12.10	(22%)

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Profit & Loss Statement - YTD 2023

(USD in 000's)	YTD 2023	YTD 2022	Change
Net Sales	$3,788,309	$3,919,709	(3%)
Local Currency Growth %	(3%)	11%
Gross Profit	2,241,286	2,308,042	(3%)
Gross Profit Margin %	59.2%	58.9%	30bp
Research and Development	185,284	177,122	5%
% of Sales	4.9%	4.5%	40bp
Selling, General and Administrative	904,106	938,461	(4%)
% of Sales	23.9%	23.9%	0bp
Adjusted Operating Profit	1,151,896	1,192,459	(3%)
Adj Margin %	30.4%	30.4%	0bp
Adjusted EPS	$38.03	$39.65	(4%)

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Thank You.