2016 Analyst Meeting PDF
Preview 2016 Analyst Meeting
Please note that the attached presentations contain financial projections and other forward-looking statements that are specific to the date of the presentations – May 18, 2016 – and should not be considered current after such date. 1 2016 Analyst Meeting May 18, 2016 The world leader in serving science 2 Safe Harbor / Non-GAAP Measures Various remarks that we may make in the following presentations about the company’s future expectations, plans and prospects constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our Form 10-Q for the quarter ended April 2, 2016, under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission and available in the “Investors” section of our website under the heading “SEC Filings.” Important factors that could cause actual results to differ materially from those indicatedby forward-looking statements include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; general economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of exchange rate fluctuations on international operations; the effect of healthcare reform legislation; use and protection of intellectual property; the effect of changes in governmental regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today. During these presentations, we will be referring to certain financial measures not prepared in accordance with generally accepted accounting principles, or GAAP, including adjusted EPS, adjusted operating margin, adjusted ROIC and free cash flow. The non-GAAP financial measures of Thermo Fisher’s results of operations and cash flows included in these presentations are not meant to be considered superior to or a substitute for Thermo Fisher’s results of operations prepared in accordance with GAAP. Definitions of these non-GAAP financial measures and, for historical periods, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in the appendix to these presentations. Please note that the attached presentations contain financial projections and other forward-looking statements that are specific to the date of the presentations – May 18, 2016 – and should not be considered current after such date. 3 Agenda Marc Casper Great Track Record ‒ Even Brighter Future President and CEO Stephen Williamson Senior Vice President Continuing to Deliver Exceptional Returns Chief Financial Officer Tom Loewald Senior Vice President Unique Scale and Depth Create Commercial Advantage Chief Commercial Officer Alan Sachs Innovating to Fulfill Our Mission Chief Scientific Officer Syed Jafry Senior Vice President Scale is Our Foundation for Growth in Emerging Markets President, Emerging Markets Mark Stevenson Executive Vice President Life Sciences Solutions – The Next Chapter President, Life Sciences Solutions Marc Casper Summary and Q&A 4 Great Track Record ‒ Even Brighter Future Marc N. Casper President and Chief Executive Officer 2016 Analyst Meeting May 18, 2016 The world leader in serving science Key Takeaways • Proven growth strategy delivering outstanding financial performance • Robust pipeline of innovative technologies • Unmatched presence in emerging markets • Unique customer value proposition • Attractive long-term financial model • 4 - 6% organic growth • 12 - 15% adjusted EPS growth • Expanding ROIC • Track record of effective capital deployment • Fragmented industry offers plenty of M&A opportunity • Disciplined M&A strategy and substantial return of capital 6 Building Industry Leadership Over the Past Decade Vanquish Raman portable Sorvall LYNX Ion Torrent S5 UHPLC spectrometers centrifuge Exactive Orbitrap Fusion Tribrid Bioproduction Innovation ImmunoCap Orbitrap Attune Nxt single-use technologies Opened Suzhou Dubai Customer India clinical Established factory Experience Center packaging facility environmental Singapore instruments HQ India Chromatography Mfg. Center Lithuania in Shanghai Center of Excellence of Excellence Global footprint China Innovation Biosciences Center established South America HQ in Brazil Center of Excellence B.R.A.H.M.S 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 A clear and proven strategy, consistently executed 7 Continuing Our Impressive Track Record $7.39 $6.96 Adjusted EPS Performance Shareholder Return $5.42 $4.94 $470.79 $4.16 Thermo Fisher Scientific $3.43 $3.02 $2.92 $2.55 $1.87 $100 $163.74 invested S&P 500 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Delivering on our commitment to create shareholder value 8 We Are The World Leader in Serving Science Global Scale Unmatched Depth • >50,000 employees in 50 countries • Leading innovative technologies • $17 billion in annual revenue • Deep applications expertise • Unparalleled commercial reach • Premier laboratory productivity partner Our Mission: To enable our customers to make the world healthier, cleaner and safer 9 We Serve a $100B Market that’s Growing 3 - 5% Annually Strong Short-term Attractive Long-term Catalysts Pharma & Fundamentals Diagnostics Biotech & Healthcare • Increased NIH funding • Aging population fuels 30% 25% biomedical research and • Emerging societal threats demand for diagnostics $17.3B • Interconnected food supply • Success in biologic and Revenue vaccine development creates • Strength in biopharma market growing demand • China 5-year plan priorities • Emerging markets drive Industrial Academic & growth in environmental and & Applied Government applied markets 20% 25% Thermo Fisher is positioned to grow at least one point faster than the market 10 NOTE: Revenue and end market percentages based on LTM as of Q1 2016.
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