Sartorius : Laden Sie die aktuelle Investoren Präsentation herunter (Englisch) | Q1 2020 Results
05/18/2020 | 08:16am EST
Simplifying Progress
Investors Presentation
Q1 2020 Results
Disclaimer
This presentation contains statements concerning the future performance of the Sartorius Group. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actually materialize.
This is because our assumptions harbor risks and uncertainties that could lead to actual results diverging substantially from the expected ones. It is not planned to update our forward-looking statements.
Throughout this presentation, differences may be apparent as a result of rounding during addition.
2
Agenda
Overview | Strategy
Bioprocess Solutions Division
Lab Products & Services Division
FY 2020 Guidance | Q1 2020 Results
3
Partner of biopharmaceutical research and industry
We empower scientists and engineers to simplify and accelerate progress in life science and bioprocessing, enabling the development of new and better therapies and more affordable medicine.
4 Overview | Strategy
Sartorius at a glance
~€1.8bn
Sales revenue
~14%
Sales CAGR12014-2019
27.1%
EBITDA margin2
60+
Locations worldwide,
headquartered in Göttingen, Germany
9,016
Employees
High exposure to attractive biopharma and life science industry
Group sales revenue
€1,827m
€412m
Sales with life science customers
~35%~85%
2000
2019
Based on FY 2019 figures 1 For continued operations, in constant currencies 2 Excluding extraordinary items
5Overview | Strategy
Strategic focus of both divisions on the biopharma value chain
Bioprocess Solutions Division
Molecule
Cell line and
Upstream &
development
process development
downstream production
Quality | Testing | Validation
Lab Products & Services Division
6 Overview | Strategy
Attractive market environment with strong growth opportunities
Favorable
9bnpeople by 2050;
demographics
>2bn 60 yrs or older
Rise of
~30%CAGR for biosimilar
biosimilars
sales 2019-2022
Strong R&D pipeline;
>40%share of biologics in
advances in gene and
cell therapy
the pharma R&D pipeline
~8%
CAGR for biopharma
market 2019-2025
7 Overview | Strategy
Sales revenue has more than doubled over the last 5 years
+14.8%
Sales CAGR
~+13%
+13.2%
~€1.8bn
1900
EBITDA-margin1
+7.4pp
+9.3%
1700
+18.2%
1500
+16.0%
+12.6%
1300
+8.8%
1100
+13.6%
900
25.9
27.1
700
€733m
23.6
25.0
25.1
~€650m
500
21.0
300
19.7
20.1
20.5
2011
2012
2013
2014
2015
2016
2017
2018
2019
Sales revenue EBITDA1margin in % Intec Division; divested in 2|2015
Sales growth and CAGR 2011-19 for continued operations, in constant currencies 1 Excluding extraordinary items
39.5
37.5
35.5
33.5
31.5
29.5
27.5
25.5
23.5
21.5
19.5
17.5
8 Overview | Strategy
Regional balance better reflecting end-markets
~€650m
CAGR
~€1.8bn
~€240bn
22%
~+16%
25%
27%
Asia | Pacific
25%
~+16%
35%
Americas
51%
EMEA
53%
~+11%
40%
22%
Sales by region
Sales by region
Global biopharma market
2011
2019
2019
CAGR for continued operations, in constant currencies
9 Overview | Strategy
Infrastructure prepared for further organic growth
CAPEX ratio
CAPEX composition 2020
in %
11.7
14.9
15.2
12.3
8.8
7.7
9.1
10.1
~10.0
~X%
Major projects
~3%
Regular expansion
Capitalized R&D
~2%
20121
20131
20202
2014
2015
2016
2017
2018
2019
Maintenance
~3%
1 Incl. discontinued operation 2 Based on 2020 guidance
Expansion of fermenter
Expansion of R&D facilities
production capacities
and headquarter
10 Overview | Strategy
M&A strategy - adding innovation, enhancing focus
Divestment
Essen
Intec Division
Intellicyt ViroCyt
BioScience
Acquisition of
selected assets
from Danaher1
2013
2014
2015
2016
2017
2018
2019
2020
TAP
AllPure
Bio
Cellca
kSep
Umetrics
Biological
Biosystems
Technologies
Outsource
Industries
Portfolio: Complementary products or technologies
Acquisition criteria
Market position: Either among the Top 3 or unique selling point
Integration: Management capacity; cultural fit
Price: Fair valuation; reach Sartorius' profitability level in 2-3 years
1 Announced in Oct. 2019; consolidation in May 2020
11 Overview | Strategy
Acquisition of Biological Industries in Q4 2019
Developer and manufacturer of cell culture media
Specializes in media for advanced therapies (cell and gene therapies)
~130 employees; headquartered in Beit Haemek, near Haifa (Israel)
2019 revenue €20m to €25m with healthy growth profile; slightly dilutive EBITDA margin
Will be allocated to BPS and LPS Divisions; fully consolidated in Sartorius Stedim Biotech
Complementary to cell culture media business
Closing of transaction in Dec. 2019, total purchase price of approx. €45m for just over 50% of the shares
12 Overview | Strategy
Acquisition of selected life science assets from Danaher
Acquisition includes bioanalytical tools for LPS; upstream and downstream technologies for BPS
2019 sales amounted to c. $170m; allocation of approx. $70m to LPS and approx. $100m to BPS; neutral impact on Group margin
~300 employees with production sites in the U.S., EMEA and China
Purchase price of $825m of which approx. 2/3 to be allocated to LPS and approx. 1/3 to BPS; financing secured
Announced in Q4 2019, deal closed after all regulatory approvals were received; consolidation in May 2020
13 Overview | Strategy
Acquisitions significantly strengthen positioning of both divisions
LPS: FortéBio highly synergetic with the bioanalytics portfolio; expands spectrum to include protein analysis
BPS: Acquisitions fit perfectly into the portfolio
iQue Screener (Sartorius) Identification of antibodies based oncell-basedcharacteristics
Octet (FortéBio)
Testing of the binding quality of antibodies to the target cell
IncuCyte | iQue Screener (Sartorius)
Analysis of the cell behaviour
Filtration
Fluid Management
Fermentation
Purification
Cell Culture Media
Portfolio complemented by businesses from Danaher and BI
Especially in chromatography and cell culture media
Pie charts indicate completeness of product offering
14 Overview | Strategy
Sartorius 2025 targets and initiatives
Strategic initiatives
2025 targets
Regional
Participate in strong Chinese market growth
Continue to outperform the important U.S. market
Portfolio
Addhigh-impact innovation, e.g. digital tools
Enhance process development capabilities
Expand into adjacent applications
Operations
Accelerate workflows across the organization through digitalization
Extend manufacturing base in Asia
~€4bn
Sales revenue
~ 2/3
~ 1/3
Organic
Acquisitions
~28%
EBITDA margin
2025 targets are based on 2017 currency exchange rates; non-organic revenue growth is accounted for companies acquired from 2018 and onwards;
EBITDA excluding extraordinary items; around two-thirds of the growth in the period 2020-2025 expected to be achieved organically and around one-third by acquisitions
15 Overview | Strategy
Sartorius 2025 ambition per division
SSB | BPSLPSSartorius Group
~€2.8bn
~€1.2bn
~€4bn
Sales revenue
Sales revenue
Sales revenue
~30%
~25%
~28%
EBITDA margin
EBITDA margin
EBITDA margin
2025 targets are based on 2017 currency exchange rates; EBITDA excluding extraordinary items
16 Overview | Strategy
Agenda
Overview | Strategy
Bioprocess Solutions Division
Lab Products & Services Division
FY 2020 Guidance | Q1 2020 Results
17
Snapshot of the Bioprocess Solutions Division
Total solution provider for biomanufacturing
Global footprint
Division sales by region
Asia|Pacific
~24%
Americas
~37%
EMEA
~39%
Track record of dynamic growth
Sales revenue, € in millions; EBITDA margin1in %
+15.7%
1,350.5
CAGR
615.6
29.1
23.0
2014
2019
High share of recurring revenues
Division sales by category
Equipment
~25%
Single-use
products
~75%
Based on FY 2019 figures; sales CAGR in constant currencies; FY 2019 figures restated, CAGR unchanged 1 Excluding extraordinary items
18 Bioprocess Solutions
Covering most steps of the biopharma process chain
Production process design is inalterable for the lifetime of most drugs
Individually customized production process required for all drugs
Decisions for process design, and thus supplier selection, are typically made during clinical trials
Culture media
Seed
Scale-up
Fermentation
preparation cultivation
UPSTREAM
DOWNSTREAM
Final
Cryo-
Sterile
Concen-
Virus
Polishing
Viral
Clarification &
filling
preservation
filtration
tration
filtration
clearance
centrifugation
19 Bioprocess Solutions
Leading positions in key technology platforms
Sartorius1
Merck |
Danaher
Thermo
Top 3 Players
Millipore
Pall
Cytiva2
Fisher
1. Merck | Millipore
Filtration
2. Danaher | Pall
3. Sartorius
Fluid
1. Sartorius
2. Thermo Fisher
Management
3. Merck | Millipore
1. Sartorius
Fermentation
2. Thermo Fisher
3. Danaher | Cytiva
1. Danaher | Cytiva
Purification
2. Merck | Millipore
3. Sartorius
Cell Culture
1. Thermo Fisher
2. Merck | Millipore
Media
3. Danaher | Cytiva
Pie charts indicate completeness of product offering
1 Sartorius with strengthened portfolio after acquisition of selected life science assets from Danaher; 2 Formerly GE Biopharma
20 Bioprocess Solutions
U.S. remains most important market; China with highest growth rates
Biologics market growth forecast
CAGR 2019 to 2023, € in billions
U.S.
U.S.
~110
~155
Europe
~+9% U.S.
Europe
~48
~61
~+6% Europe
China
~€240bn
~€335bn
China
~35
~+15% China
~62
ROW
ROW
~47
~57
Biologics market in China is at an early stage, but has strong growth potential
Supportive regulatory environment and solid industry foundation; biopharma considered a priority sector
Growth of fermentation capacity in China of 80% (2018 to 2022)
21 Bioprocess Solutions
Biosimilars: Strong growth, big opportunities
Major blockbuster biologics are goingoff-patent
Time-to-marketis key as only the first providers are most likely profitable
Several approvals in Asia and Europe; U.S. at the beginning
For now, relatively small market but with strong growth
Single-useis the preferred platform for biosimilars
Biosimilars will outperform the biologics market
Growing number of biosimilar approvals
€ in billions
E.U. and U.S.
~+30%
CAGR
~24
~9
~311
Biosimilars
~231
Other biologics
2019
2023
22
20
15
3
7
0
0
1
2012
2013
2014
2015
2016
2017
2018
2019
22 Bioprocess Solutions
Leader in the growing single-use technology market
Single-use market penetration expected to increase from ~35% to ~75%
Single-use products offer advantages over conventional stainless-steel devices
Capex|Opex reduction over entire lifecycle
Reduced risk ofcross-contamination
Higher flexibility; advantageous for biosimilars
-25-35%
-30-50%
-55-65%
-65-75%
Construction cost
Time-to-market
Energy cost
Water cost
Reference Single-use
23 Bioprocess Solutions
The biopharma market is not yet mature, but is maturing
... not mature because
Underpenetrated global market
Strong flow of innovation
Time-consumingproduct development
... but maturing because
Increasing importance of product costs and time to market
Robustness and ease of use of tools are becoming more important
Companies invest in market consolidation
Cumulative investment and absolute survival rate in drug development
>10+ years
80
Absolute survival
1200
rate (in %; lhs)
Cumulative
60
investment
900
(€ in millions; rhs)
40
600
20
300
Target to lead
Preclinical
Phase 1
Phase 2
Phase 3
Registration
Data adopted from: Paul (2010) Nature Rev DD & Association of the British Pharmaceutical Industry (2017)
24 Bioprocess Solutions
Digitalization is arriving in biopharma
Sartorius offers the leading software for bioprocess
Data
aggregation
data analytics
Enhanced process control and robustness
Improved product quality
Predictive process control
Process
Monitoring
optimization
and control
Powerful solutions for modeling and optimizing development and manufacturing
Help to gain insights from complex data sets
Data analytics just at the beginning in
biomanufacturing and shows high potential
Data
evaluation
25 Bioprocess Solutions
Limited dependence on individual accounts
Long-term business relationships with leading global (bio-) pharma companies
Limited dependence on individual accounts
Sales to Top 50 customers
in 2019, € in millions
350
~50%
~55%
300
~40%
~45%
250
Cumulative
200
~25%
share
150
100
50
0
Top 10
11 to 20
21 to 30
31 to 40
41 to 50
More than half of 2019 BPS sales were generated with the Top 50 customers
No individual customer accounts for more than 5% of BPS sales revenue
No single drug accounts for more than 3% of BPS sales revenue
26 Bioprocess Solutions
Four strong pillars drive above-average growth
Pharma market
Biopharma market
Single-use penetration
Market share gains
CAGR 4-7%
CAGR ~8%
Double-digit growth
Esp. in North America
~+14%Organic CAGR1
2014
2015
2016
2017
2018
2019
20202
1 CAGR 2013 to 2020e, excluding FX effects and acquisitions 2 Midpoint of 2020 guidance
27 Bioprocess Solutions
Agenda
Overview | Strategy
Bioprocess Solutions Division
Lab Products & Services Division
FY 2020 Guidance | Q1 2020 Results
28
Snapshot of the Lab Products & Services Division
Premium vendor for laboratories
Division in transition to a new growth and
profitability profile
Sales revenue, € in millions; EBITDA margin1in %
Build-up of
CAGR
600
6003
bioanalytics
+11.8%
29
550
550
portfolio since
500
28
476.5
27
2016
CAGR
500
450
26
25
+3.8%
450
Global footprint
400
24
21.6
400
325.3
23
Division sales by region
Asia|Pacific
350
268.9
305.5
35022
21
~29%
300
20
19
Americas
300
250
17.4
250
16.0
~27%
200
16.0
18
17
200
150
16
15
EMEA
150
100
10014
13
~44%
2012
2015
2016
2019
Based on FY 2019 figures; sales growth and CAGR in constant currencies; FY 2019 figures restated, sales growth and CAGR unchanged 1 Excluding extraordinary items
29 Lab Products & Services
Our ambition: Reduce costly trial & error in drug discovery
Drug discovery
Testing &
Clinical trials
improving
4 ½ years
1 year
5 ½ years
€490m
€110m
€640m
1 in 10,000
~€500m
Chance for a candidate
to make it to the market
Average costs of drug
discovery
Drug approval
1 ½ years
€60m
>10 years
From drug discovery
to approval
Our approach
Facilitate digitalization and automatization
Decrease likelihood of failure
Reduce time and costs in molecule development
Schematic example of biologic drug discovery with data from the Association of the British Pharmaceutical Industry
30 Lab Products & Services
Innovative bioanalytics for accelerated molecule development
Automated imaging for live cell analysis
Analysis of cell health, morphology and movement by images and videos
Deep insights into biological processes
High-throughput screening and selection
Evaluation of cell health and functions
Fast screening and characterization of molecule candidates
Considerable
acceleration of the
development of
medications, e.g., in
cancer research
31 Lab Products & Services
Bioanalytics portfolio with little competition and high value added
Richness of data
Microscopy
High content
imaging1)
IntelliCyt
Flow
cytometry2)IncuCyte
Plate
readers3)
Sample throughput per plate
IntelliCyt processes thousands of plates and generates large amounts of data for rapid and clear target identification
IncuCyte deliversvideo-based insights and improved workflows for real-time quantitative analysis of living cells
FortéBio acquisition further strengthens positioning in bioanalytics
Innovative product portfolio with strong market position
Instruments, consumables and software forreal-time,label-free measurement of biomolecular interactions
Octet as the key product uses unique, patentedBio-Layer- Interferometry (BLI) technology
Used to generate information on affinity, kinetics and concentration of proteins for selection, development &scale-up of biologics
Highly complementary to existing bioanalytics portfolio
Application example: Cell line development
Octet
Identify high-producing clones in expression library
ambr15
Culture identified clones on small-scale
Octet | iQueScreener Analysis and characterization of cell line and antibodies
33 Lab Products & Services
Bioanalytics increases addressable market and changes growth profile
Addressable market of LPS
€ in billions
+8%
CAGR
~1.9
~1.2
+3.5%
Bioanalytics
CAGR
LPS ex
~4.3
bioanalytics
~3.4
Different growth rate of bioanalytics due to high exposure to biopharmaceutical R&D
By 2025,two-thirds of the addressable market growth will come from bioanalytics
Thus, growth and profitability profile of LPS is changing over time
20192025
34 Lab Products & Services
Strong market position in key product categories
Leading positions in laboratory products used for research and quality control
Average global market share of >10%
High gross margins offer potential for economies of scale
Growth potential especially in the U.S. and Asia
Lab balances
Microb. analysis
Lab filtration
Pipettes
#2
#2
#3
#4
35 Lab Products & Services
Scalable business with considerable growth and margin potential
Well established sample prep. portfolio
Premium instruments and consumables offering with strong global positions
Market share opportunities in certain regions to be addressed primarily by direct sales force
Unique bioanalytics portfolio established
Innovative technologies added through recent acquisitions
Combination with Sartorius' global reach provides significant growth potential
36 Lab Products & Services
Agenda
Overview | Strategy
Bioprocess Solutions Division
Lab Products & Services Division
FY 2020 Guidance | Q1 2020 Results
37
Dynamic top-line growth; further margin increase
Sartorius Group
Q1 2019
Q1 2020
in %
in % cc1
in millions of € unless otherwise specified
Sales revenue
435.7
509.9
+17.0
+16.5
Order intake
482.8
629.4
+30.4
+29.7
Underlying EBITDA2
114.0
137.9
+20.9
Underlying EBITDA2margin in %
26.2
27.0
+0.8pp
Underlying EPS3(ord.) in €
0.71
0.83
+17.6
Underlying EPS3(pref.)in €
0.72
0.84
+17.3
Acquisition of cell culture media specialist Biological Industries contributed a good 1pp to sales growth, as expected
Underlying EBITDA driven by economies of scale; slight negative impact by currencies
2019 OI, sales and margins of divisions restated due to changed allocation of two small product groups, no impact on Group
1 Constant currencies 2 Underlying = excluding extraordinary items 3 Underlying EPS = based on net profit after non-controlling interest; adjusted for extraordinary items as well as amortization and based on a normalized financial result and tax rate
38 FY 2020 Guidance | Q1 2020 Results
Double-digit growth in all geographies
Americas
EMEA
Asia|Pacific
Sales by Region
€ in millions
€ in millions
€ in millions
in %
+17.1 %
+16.1 %
+16.3 %
EMEA
207.0
~ 41%
Americas
180.7
178.0
152.4
~ 35%
105.3
122.2
€509.9m
Q1 2019
Q1 2020
Q1 2019
Q1 2020
Q1 2019
Q1 2020
Asia|Pacific
Americas: Strong momentum in BPS; LPS stable
~ 24%
EMEA: BPS strong; LPS supported by demand for diagnostic test kits
Asia|Pacific: BPS with most dynamic growth; LPS demand declined significantly in Jan. and Feb. due to standstill in China
Acc. to customers' location; growth in constant currencies
39 FY 2020 Guidance | Q1 2020 Results
BPS: Strong demand across all product categories and regions
Order Intake
in millions
+39.6% cc
+40.3%
506.2
360.7
Q1 20191
Q1 2020
Sales Revenue
in millions
+22.4% cc +23.0%
320.7
394.3
Q1 20191
Q1 2020
Underlying EBITDA & Margin
in millions
+31.9%
90.9
119.9
28.3%
30.4%
Q1 20191
Q1 2020
Order intake driven by larger equipment orders from China andpull-forward effects due to stocking initiatives of customers
Stocking initiatives had 2pp impact on sales growth;non-organic growth from Biological Industries consolidation close to 1pp
Underlying EBITDA margin rose due to economies of scale, despite minor negative currency effects
Net operating cash flow mostly driven by higher earnings and factoring of receivables in the amount of ~€75m
Extraordinary items influenced by rebranding and M&A expenses, among others
Some investments postponed due to the pandemic crisis
Review of dividend proposal for FY 2019 under consideration
1 Underlying net profit = net profit adjusted for extraordinary items, amortization and based on a normalized financial result and tax rate 2 After non-controlling interest 3 Net cash flow from investing activities and acquisitions
42 FY 2020 Guidance | Q1 2020 Results
Very sound balance sheet and financial base
Key Financial Indicators
Sartorius Group
Dec. 31,
Mar. 31,
2019
2020
Equity ratio in %
38.0
39.0
Net debt in millions of €
1,011.3
951.9
Net debt | underlying
2.0
1.8
EBITDA
All financial indicators improved compared to last reporting
Net Debt and Net Debt to Underlying EBITDA
1,500
3.0
1,200
2.4
900
1.8
600
1.2
300
0.6
0
0.0
Q1-Q4Q1-Q4Q1-Q4
Q1-Q4
Q1-Q4
Q1-Q4
Q1
2014
2015
2016
2017
2018
2019
2020
Net debt in millions of € (lhs)
Net debt to underlying EBITDA (rhs)
43 FY 2020 Guidance | Q1 2020 Results
Outlook for 2020, higher uncertainty than usual
Given the pandemic situation, forecast is subject to higher uncertainty than usual concerning both the development of existing businesses and the integration of acquisitions
Guidance is based on the macroeconomic assumptions that China will continue ramping up its economy and Europe and the US will soon have reached the peak of the pandemic, and will ease economic restrictions
The outlook further reflects the assumption of intact supply chains and largely unaffected production capacities in both divisions
44 FY 2020 Guidance | Q1 2020 Results
Outlook for 2020
FY 2020 Guidance1
Previous
New
Sales Revenue
Underlying
Sales Revenue
Underlying
Growth
EBITDA Margin
Growth
EBITDA Margin
Sartorius Group
~ 10% - 13%
~ 27.5%
~ 15% - 19%
~ 27.5%
- thereof Biological Industries
1.5pp
slightly dilutive
1.5pp
slightly dilutive
- thereof Danaher portfolio
-
-
5pp
neutral
Bioprocess Solutions
~ 11% - 14%
~ 30.0%
~ 17% - 21%
~ 30.0%
- thereof Biological Industries
1pp
slightly dilutive
1pp
slightly dilutive
- thereof Danaher portfolio
-
-
3.5pp
-0.5pp
Lab Products & Services
~ 7% - 10%
~ 20.0%
~ 10% - 14%
~ 20.0%
- thereof Biological Industries
2.5pp
slightly dilutive
2.5pp
slightly dilutive
- thereof Danaher portfolio
-
-
10pp
1.5pp
CAPEX ratio ~10% (FY 2019: 12.3%); net debt to underlying EBITDA ~2.75 (FY 2019: 2.0)
Biological Industries included for 12 months; life science portfolio from Danaher included for approx. 8 months
1 In constant currencies
45 FY 2020 Guidance | Q1 2020 Results
Appendix
46
Sartorius shares - an attractive investment
2
1
3
Biopharma market fueled
Leading market positions
Global presence with
by long-term growth
in key technologies and
strong base in growth
drivers
high brand awareness
regions
High entry barriers, low price-
Diversified revenue base
Proven growth track record:
sensitivity and consolidated
and high share of recurring
Sales CAGR of ~14% over
competitive landscape
revenues provide low
the last five years
volatility
47 Appendix
Sartorius legal & operational structure
Sartorius Group Legal Setup
Sartorius AG
sharesOrdinary
>50%
Administered by executor
sharesPreference
~91% Free float
Stock market listed in Germany1
~34%
Bio-Rad Laboratories
~9% Treasury shares
~9%
Treasury shares
~5%
Family owned
~2%
Free float
~74%
100%
Sartorius Stedim Biotech S.A.
~74% Sartorius AG
Other Sartorius Subsidiaries
Stock market listed in France
~26% Free float
Bioprocess Solutions Division
Lab Products & Services Division
Sartorius Group Operational Setup
1 Information on shareholdings and shares in free float pursuant to Sections 33 et seq. of the German Securities Trading Act (WpHG). Reporting obligations refer only to ordinary shares and not to non-voting preference shares.
48 Appendix
Share price performance
450%
400%
350%
300%
250%
200%
150%
100%
50%
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
Sartorius (prefs.)
Sartorius (ord.)
Sartorius Stedim Biotech
DAX
MDAX
NASDAQ Biotech
Share key facts
ISIN
DE0007165631 (preference share) |
DE0007165607 (ordinary share)
Ticker
SRT3 (preference share) | SRT (ordinary share)
Number of68,388,292 - thereof preference shares: 34,176,068
shares1
ordinary shares: 34,212,224
1 Excluding treasury shares held by Sartorius AG 2 As of April 20, 2020
IndicesDAX 50 ESG | MDAX | TecDAX | MSCI Germany Index | CDAX | Prime All Share Index | Technology All Share Index | STOXX Europe 600
Market cap.2€16.6bn
49 Appendix
A sampling of the Bioprocess Solutions' product portfolio
Filtration
Purification
Fermentation
Fluid management
50 Appendix
A sampling of the Lab Products and Services' product portfolio
Lab balances | Lab water systems
Bioanalytics
Lab filtration | Microb. analysis
Pipettes
51 Appendix
Recap 2020 targets and initiatives
Strategic initiatives
2020 targets
Regional
Gain share in North America
Leverage strong market growth in Asia
~€2bn
Sales revenue
Portfolio
Complementary extensions through
~ 3/4
~ 1/4
alliances and acquisitions
Organic
Acquisitions
Own product development
Operations
Expansion of production capacity
Significant investments into IT infrastructure
~ 26-27%
EBITDA margin
2020 targets are based on 2015 currency exchange rates; EBITDA excluding extraordinary items; around three-quarters of the growth expected to be achieved organically and around one-quater by acquisitions
52 Appendix
Executive Board of Sartorius AG
Joachim Kreuzburg, CEO
René Fáber
Rainer Lehmann, CFO
Gerry Mackay
Joined Sartorius in 1999
Joined Sartorius in 2002
Joined Sartorius in 2005
Joined Sartorius in 2015
Member of the Board since 2003
Member of the Board since 2019
Member of the Board since 2017
Member of the Board since 2019
Group Strategy, Corporate
Bioprocess Solutions Division
Finance, Information Technology,
Lab Products & Services Division
Research, Human Resources,
Business Processes
Legal & Compliance,
Communications
53 Appendix
Financial calendar and contacts
July 21, 2020
Publication Half-Year Report 2020 | Göttingen
October 20, 2020
Publication Nine-Month Results 2020 | Göttingen
Sartorius AG published this content on 11 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2020 12:15:10 UTC
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