Conference Call First-Quarter 2019 Results
[Pages:19]Conference Call First-Quarter 2019 Results
Joachim Kreuzburg (CEO), Rainer Lehmann (CFO) April 18, 2019
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 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.
Agenda
Sartorius Group Q1 2019 Results | FY 2019 Guidance Sartorius Stedim Biotech Group Q1 2019 Results | FY 2019 Guidance Questions & Answers
Q1 2019 Highlights
Strong double-digit growth in sales, order intake and earnings Continued dynamic momentum in Bioprocess Solutions division Lab Products & Services with robust development 2019 outlook confirmed
4
Strong top-line growth; further margin increase
Sartorius Group
in millions of unless otherwise specified
Sales revenue Order intake Underlying EBITDA2) Underlying EBITDA2) margin in % Underlying EPS3) (ord.) in Underlying EPS3) (pref.) in
Q1 2018 364.9 404.8 88.6 24.3 0.54 0.55
Q1 2019 435.7 482.8 114.0 26.2 0.71 0.72
in % +19.4 +19.3 +28.7 +1.9 pp +31.1 +30.5
in % cc 1) +16.8 +16.6
? Underlying EBITDA positively impacted by changes to the IFRS accounting rules, which contributes around half a percentage point to margin improvement as expected
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
5
Double-digit growth in all geographies
Americas
in millions
152.4 116.6
EMEA
in millions
178.0 159.3
Asia|Pacific
in millions
105.3 89.0
Sales by Region
in %
435.7m
EMEA ~ 41% Americas ~ 35%
Q1 18 Q1 19
Q1 18 Q1 19
Q1 18 Q1 19
+24.7 %
+11.6 %
+15.3 %
Acc. to customers` location; growth in constant currencies
Asia|Pacific ~ 24%
? Americas: BPS with high momentum; robust performance of LPS ? EMEA: Solid performance driven by BPS growth; softer economy affects LPS ? Asia|Pacific: Both divisions with strong growth rates
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BPS: Strong demand across all product categories and regions
Order Intake
in millions
+21.1% cc +24.0%
295.1
366.0
Sales Revenue
in millions
+20.9% cc +23.8%
263.4
326.0
Underlying EBITDA & Margin
in millions
+34.0%
70.3 26.7%
94.2 28.9%
Q1 18
Q1 19
Q1 18
Q1 19
Q1 18
Q1 19
? Above-average growth rates driven by moderate comps, and the modified setup of the cell culture media business that has not yet shown its full effects on Q1 figures; expected to normalize as the year progresses
? Underlying EBITDA margin rises due to economies of scale and changes to the IFRS accounting rules
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LPS: Robust performance in line with expectations
Order Intake
in millions
Sales Revenue
in millions
Underlying EBITDA & Margin
in millions
+4.4% cc +6.6%
109.6
116.8
+5.9% cc +8.1%
101.4
109.7
+8.2%
18.3 18.0%
19.8 18.1%
Q1 18
Q1 19
Q1 18
Q1 19
Q1 18
Q1 19
? Softer European economy weighs on growth; relatively tough comps ? EBITDA margin on prior-year level; positively affected by IFRS 16
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