Company Presentation February 2019 1
Agenda 01 Sart rtorius in in Brie rief 02 Biopr ioprocess S Solu olutio ions 03 Lab b Prod Products & Serv rvices 04 Sart rtorius 2020 2020 and d 2025 2025
Sartorius in 2018 Internationally leading Biopr oproce ocess a and Labor borator ory Tech chnol ologie ogies P Provide ider ~ €1.6 .6bn bn ~€238 238 mn mn ~33% 3% ~42% 2% ~25% 5% Investments Sales revenue Americas EMEA Asia| Pacific 25. 25.9% ~€405 405 mn mn EBITDA 1 margin Earnings 1 ~€9. 9.1 1 bn bn Sales revenue by region Market capitalization 2 Listed since 1990; Part of German MDAX & TecDax Figures as of Dec. 31, 2018 1 Underlying EBITDA (excluding extraordinary items) 2 As of Dec. 31, 2018; including SSB free float 3
Global player with around 60 sales and production sites Netherlands, Belgium, Ireland, Israel, Asia | Pacific India, Thailand, USA, Canada, Americas UK, France, Spain, Sweden, Finland, Singapore, Vietnam, EMEA Puerto Rico, Denmark, Germany, Poland, Austria, China, Malaysia, Mexico, Brazil, Hungary, Switzerland, Italy, Russia, South Korea, Japan, Argentina Tunisia, South Africa Australia 4 Sales Production and Production/Sales
More than 8,100 employees worldwide ~1,250 50 ~5,700 00 ~1,150 50 Asia|Pacific Americas EMEA ~ 8,000 000 2,000 00 3,000 00 4,000 00 5,000 00 ~7,000 00 1996 1997 1998 1999 2001 2002 2003 2004 2005 2006 2008 2009 2010 2011 2013 2014 2015 1995 2000 2007 2012 2016 2018 5 Figures as of Dec. 31, 2018
Our corporate values 6
Roots of both divisions reach far back 1870 1870 1927 1927 University mechanician | Company founder Florenz Wilhelm Sartorius founds joint venture with Nobel laureate and creator of membrane filtration Sartorius invents short-beam analytical balance Richard Zsigmondy Weighi ghing ng Techno hnolog ogy Filtratio ation Core of Lab Division Mainstay of Bioprocess Division 7
Sartorius focuses on Biopharma applications Biopr ioprocess Solu olutio ions D Div ivis ision Cell line and Production Molecule development process development upstream & downstream Quality & testing Lab b Prod Products & Serv rvices Div ivision 8
Driven by strong fundamentals, Biopharma is a growth market Increasing healthcare spending Favorable demographics +6.4 .4 % 9bn bn CAGR people by 2050 of which >2bn bn of worldwide prescription drug 60yrs or older sales 2018-2024 ~8 ~8% CAGR of biopharma market Favorable R&D pipeline; strong 2018-2025 Rise of biosimilars advances in gene and cell therapy >30 % >40 40 % CAGR of Share of biologics biosimilar sales in pharma R&D 2018-2022 pipeline 9
Agenda 01 Sartoriu orius i in Brie rief 02 Biopr ioprocess S Solu olutio ions 03 Lab b Prod Products & Serv rvices 04 Sart rtorius 2020 2020 and d 2025 2025
Bioprocess Solutions division snapshot Division profile High share of recurring revenues Consumables ~ 75% Total solution provider for biomanufacturing EBITDA 1 margin Sales revenue ~€1, 1,14 143 3 mn 28. 28.6% 1 Equipment ~ 25% Dynamic track record Global footprint EBITDA 1 margin in % (rhs) Sales € in millions Sales EBITDA-Margin1 Asia|Pacific ~ 23% 1400 40 38 1200 36 1000 Americas ~ 36% 34 32 800 30 600 28 26 400 24 200 22 EMEA ~ 41% 0 20 2013 2014 2015 2016 2017 2018 Based on FY 2018 figures 1 Excluding extraordinary items 11
What are biopharmaceuticals? Living, genetically modified cells Production Injection | Infusion Advan vantag tages Chal allenges First-time or improved treatment of serious illnesses, R&D and production labor-intensive such as cancer, multiple sclerosis, rheumatism High therapy costs: biologics ~ $50 vs. Targets only diseased cells; fewer side effects chemical medications ~ $2 per day New vaccines 12
Focusing on Biopharma for more than 15 years Biopr ioprocess Solu olutio ions D Div ivis ision Cell line and Production Molecule development process development upstream & downstream Quality & testing Lab b Prod Products & Serv rvices Div ivision 13
Well positioned as a Total Solution Provider across the Biopharma process chain Proce cess D ss Development nt Produ duction ion Cell Culture Media Fermentation Cell Harvesting Buffer | Preparation Purification Serv rvic ices 14
Portfolio continuously enhanced via strategic acquisitions Proce cess D ss Development nt Production Prod on Small-scale single-use bioreactors Q4 2013 Cell culture media Q1 2013 Single-use technology for sampling Cell line development Q2 2014 services Q3 2015 Single-use centrifuges Software for bioprocess Testing in biosafety and Q3 2016 data analysis bioanalytics Q2 2015 Q2 2017 15
Pioneer in single-use manufacturing technologies Past st Pres esen ent High initial cost + CAPEX reduction over entire lifecycle Considerable cleaning effort + Lower water and energy consumption Risk of cross-contamination + Higher flexibility 16
Around 75% of recurrent business with single-use products Equipment nt ~25% Single le-us use ~ €1,143 143 mn mn ~75% 17 Figures as of Dec. 31, 2018
Leading market positions worldwide TOP 3 Fluid Management #1 #1 Fermentation #1 #1 Filtration TO >85 % of sales revenue generated from TOP 1-3 positions 18
Agenda 01 Sartoriu orius i in Brie rief 02 Biopr ioprocess S Solu olutio ions 03 Lab b Prod Products & Serv rvices 04 Sart rtorius 2020 2020 and d 2025 2025
Lab Products & Services division snapshot Division profile Sales split Consumables & Premium provider of laboratory essentials and services ~ 35% bioanalytics platforms ~ €423 ~ 423m EBITDA 1 margin Sales revenue ~€423 423 mn 18. 18.5% Lab instruments ~ 65% Accelerating profitable growth Global footprint EBITDA 1 margin in % Sales € in millions Sales EBITDA-Margin1 Asia|Pacific ~ 28% 500 24 23 450 22 400 21 Americas ~ 26% 20 350 19 300 18 250 17 16 200 15 150 14 13 100 12 50 EMEA ~ 46% 11 0 10 2013 2014 2015 2016 2017 2018 Based on FY 2018 figures 1 Excluding extraordinary items 20
Increasing strategic focus on Biopharma R&D Biopr ioprocess Solu olutio ions D Div ivis ision Cell line and Production Molecule development process development upstream & downstream Quality & testing Lab b Prod Products & Serv rvices Div ivision 21
Our ambition: Reduce costly trial & error in drug discovery A A brig bright ide idea in € mn Drug discovery 490 490 Onl Only 1 1 ou out of of 4½ years rs 10,000 000 mole olecule les make it it to th to the m e mar arket et Testing & 113 113 improving 1 ye year Help researchers to fail faster Clinical trials 640 640 Reduce time and cost in 5 5 ½ years rs molecule development 47% Drug approval 60 60 1½ years rs Product launc Prod unch Schematic example of biologic drug discovery with data from Association of the British Pharmaceutical Industry 22
Two strong pillars LPS legacy product portfolio New bioanalytics business Lab balances Pipettes Consumables Lab water systems IncuCyte iQue Screener PLUS Premium portfolio of essential lab instruments and consumables Acquisition of U.S. companies: IntelliCyt (mid 2016) and Essen BioScience (early 2017) Combination of unique technologies in the area of high throughput (IntelliCyt) and real-time quantitative analysis (Essen) Unrivalled solutions which provide significant benefits to biopharma R&D workflows 23
These products and services are must-haves in any laboratory Lab instruments, consumables and services Pipettes and Microbiological Moisture Lab water systems accessories test kits analyzers Services Balances 24
Strong Bioanalytics portfolio for Biopharma R&D applications Real-time cell analysis Cell screening Innovative and unique bioanalytical platforms, complement the well-established portfolio for the sample preparation in the lab Excellent fit in LPS Bioanalytic offering; complement areas of application and techniques, no overlapping Significant acceleration of product development 25
Leading market positions worldwide Lab Balances #2 #2 Pipettes #4 #4 Lab Filtration #3 #3 Microb. Analysis #2 #2 (membrane based) Average global market share with lab essentials >10% Leading bioanalytics portfolio 26
Agenda 01 Sartoriu orius in in Brie rief 02 Biopr ioprocess S Solu olutio ions 03 Lab b Prod Products & Serv rvices 04 Sartoriu orius 2020 2020 and d 2025 2025
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