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Sartorius Group 2016 Annual Report Order Intake and Sales Revenue Underlying EBITDA and Margin1) ¤ in Millions

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Sartorius Group 2016 Annual Report Order Intake and Sales Revenue Underlying EBITDA and Margin1) ¤ in Millions Sartorius Group 2016 Annual Report Order Intake and Sales Revenue Underlying EBITDA and Margin1) ¤ in millions 866.8 912.3 819.6 929.2 1,172.7 1,334.7 161.1 172.6 162.3 186.8 263.2 325.4 845.7 887.3 791.6 891.2 1,114.8 1,300.3 19.0 19.5 20.5 21.0 23.6 25.0 1,500 400 30 1,250 300 27 1,000 200 24 750 100 21 500 0 18 2012 2013 2013 2014 2015 2016 2012 2013 2013 2014 2015 2016 Continued operations Continued operations Q Order intake Q Underlying EBITDA in millions of ¤ QSales revenue Underlying EBITDA margin in % Key Figures All figures are given in millions of ¤ according 2016 2015 2014 2013 2013 2012 to the IFRS, unless otherwise specified restated Order intake, sales revenue and earnings Order intake 1,334.7 1,172.7 929.2 819.6 912.3 866.8 Sales revenue 1,300.3 1,114.8 891.2 791.6 887.3 845.7 Underlying EBITDA1) 325.4 263.2 186.8 162.3 172.6 161.1 Underlying EBITDA1) as a % of sales revenue 25.0 23.6 21.0 20.5 19.5 19.0 Relevant net profit for continuing operations2) 132.6 107.4 66.1 59.2 – – Relevant net profit2) 132.6 107.4 73.7 64.8 64.8 63.0 Research and development costs 59.4 52.5 43.63) 47.7 53.8 49.0 Financial data per share4) Earnings per share continued operations2) per ordinary share (in ¤) 1.93 1.57 0.96 0.86 – – per preference share (in ¤) 1.94 1.58 0.97 0.87 – – Earnings per share2) per ordinary share (in ¤) 1.93 1.59 1.07 0.95 0.95 0.92 per preference share (in ¤) 1.94 1.60 1.08 0.96 0.96 0.93 Dividends per ordinary share (in ¤) 0.455) 0.37 0.26 0.25 0.25 0.23 per preference share (in ¤) 0.465) 0.38 0.27 0.26 0.26 0.24 Balance sheet Balance sheet total 1,753.0 1,437.2 1,273.0 1,181.3 1,176.6 1,070.9 Equity 736.8 644.8 497.7 450.3 450.3 404.4 Equity ratio (in %) 42.0 44.9 39.1 38.1 38.3 37.8 Financials Capital expenditures 152.1 113.1 80.9 60.6 62.9 74.2 Capital expenditures as a % of sales 11.7 10.1 9.1 7.7 7.1 8.8 Depreciation and amortization 75.7 58.9 52.7 45.8 47.7 40.6 Net cash from investing activities 170.4 124.4 129.7 97.0 103.3 53.2 Net debt 485.9 344.0 335.66) 345.16) 345.1 303.8 Gearing (underlying) 1.5 1.3 1.76) 2.06) 2.0 1.9 Total number of employees as of December 31 6,911 6,185 5,611 5,1587) 5,8637) 5,491 1) Underlying = excluding extraordinary items 2) After non-controlling interest, adjusted for extraordinary items and non-cash amortization, as well as based on the normalized financial result, including the corresponding tax effects for each of these items 3) Restated 4) Adjusted for stock split; rounded values 5) Amounts suggested by the Supervisory Board and the Executive Board of Sartorius AG 6) Including discontinued operation 7) Excluding TAP Biosystems Our Mission Sartorius is a leading international pharmaceutical and laboratory equipment supplier. With our wide array of products, we help our customers in the biopharmaceu- tical industry to manufacture innovative medications safely and economically. In laboratories for research and quality assurance, the name Sartorius is synony- mous with premium lab instruments, consumables and services that make sophisticated tasks easier and more efficient. As partners, we understand our customers’ requirements down to the last detail and are already working on solutions to meet their needs, both today and tomorrow. We will further seek to systematically expand our position as an application-oriented technology group in the future as well. Based on our clear-cut strategy, we will continue to sustainably create value for custo- mers and shareholders alike and translate our growth into high profitability. Our Divisions at a Glance Sartorius is a leading international supplier for the biopharmaceutical industry and laboratories, with around 6,900 employees worldwide and Group companies in more than 30 countries. The company conducts its operating business in two divisions: Bioprocess Solutions offers integrated solutions for biopharmaceutical manufacture, and Lab Products & Services provides premium instruments, consumables and services for research and quality assurance laboratories. We report on the business development of the two divisions starting on page 40, and provide insights into their strategies on pages 24 and 25. Bioprocess Solutions Page 40 Key Figures Bioprocess Solutions focuses on the bioprocessing ¤ in millions 2016 2015 Δ 6 in % business with pharmaceutical customers. With its extensive product portfolio, the division helps Sales revenue 975.0 809.2 22.1 1) customers to manufacture biotech medications and vaccines safely and efficiently. Its major goal is to Order intake 1,006.5 869.9 17.2 1) optimize pharmaceutical production processes and preliminary process development steps, primarily by Underlying EBITDA 273.5 214.5 27.5 increasing the deployment of single-use products and solutions. The division is a global leader in as a % of sales 28.0 26.5 filtration, fermentation, cell cultivation, membrane chromato graphy and in fluid management. Employees as of Dec. 31 4,584 4,030 13.8 1) In constant currencies Lab Products & Services Page 44 With its premium laboratory instruments, consumables and services, the Lab Products & Services Division is positioned as a broad-based laboratory supplier. It concentrates on laboratories of both the research and quality assurance units in pharmaceutical and bio- pharmaceutical companies and on academic research institutes. The division serves further customers in the chemical and food industries. Its Sartorius brand labora- tory products enable reliable and efficient analyses in the lab, helping to drive and accelerate scientific progress. The division is among the market leaders in laboratory balances, pipettes and lab consumables, and offers inno- vative solutions in bioanalytics. Key Figures ¤ in millions 2016 2015 Δ 6 in % Sales revenue 325.3 305.5 7.9 1) Order intake 328.1 302.8 9.9 1) Underlying EBITDA 51.9 48.8 6.5 as a % of sales 16.0 16.0 Employees as of Dec. 31 2,327 2,155 8.0 1) In constant currencies 01 To Our Shareholders 8 Report of the Executive Board 10 Sartorius Group Executive Committee 12 Report of the Supervisory Board 15 Sartorius Shares This annual report contains statements concerning the Sartorius Group’s future performance. 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 apply. 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. This is a translation of the original German-language annual report. Sartorius shall not assume any liability for the correctness of this translation. The original German annual report is the legally binding version. Furthermore, Sartorius reserves the right not to be responsible for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any informa- tion provided, including any kind of information which is incomplete or incorrect, will therefore be rejected. Throughout the Annual Report, differences may be apparent as a result of rounding during addition. Contents 02 Combined Group 04 Consolidated Financial Management Report Statements and Notes 22 Structure and Management of the Group 105 Statement of Profit or Loss | Other Comprehensive Income 24 Strategy and Goals 107 Statement of Financial Position 27 Macroeconomic Environment and Conditions in the Sectors 108 Statement of Cash Flows 30 Group Business Development 109 Statement of Changes in Equity 37 Net Worth and Financial Position 111 Notes to the Financial Statements 40 Business Development of Bioprocess Solutions 130 Notes to the Statement of Profit or Loss 44 Business Development of Lab Products & Services 133 Notes to the Statement of Financial Position 48 Assessment of the Economic Position 158 Other Disclosures 49 Annual Financial Statements of Sartorius AG 160 Declaration of the Executive Board 52 Opportunity and Risk Report 161 Independent Auditors’ Report 61 Forecast Report 162 Executive Board and Supervisory Board 64 Report on Material Events 65 Description of the Key Features of the Internal Control and Risk Management System 67 Explanatory Report of the Executive Board 05 Supplementary Information 68 Corporate Governance Report 168 Glossary 72 Remuneration Report 170 Index 172 A Local Presence Worldwide 174 Addresses 03 Sustainability Report 84 Sustainability at Sartorius 85 Sustainable Corporate Management 92 Ecological Sustainability 98 Contributing to Society 100 GRI G4 Index Leerseite [Dummy] To Our Shareholders Report of the Executive Board Dear Shareholders and Business Partners, Fiscal 2016 was again a highly successful year for Our Lab Products & Services Division that supplies Sartorius, both financially and strategically. With laboratory instruments and consumables also per- increases in revenue by 18.2% to €1.3 billion and formed well and achieved its targets. The division’s in underlying EBITDA by nearly one-fourth, we grew revenue rose by 7.9% to €325.3 million; its earnings even more strongly and profitably than we had margin was 16.0%.
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