Mettler Toledo International : Q4 2023 Earnings Conference Call Presentation

Published: 2024-03-07 08:07:06 ET MTD

Earnings Call Webcast

February 9, 2024

Mettler-Toledo International Inc.

Q4 2023 Financial Results

Safe Harbor Statement

2

Statements in this presentation which are not historical facts constitute "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses, actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. For a discussion of these risks and uncertainties, please see "Factors Affecting Our Future Operating Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the most recently completed fiscal year and other reports filed with the SEC from time to time.

Summary Comments

3

Fourth Quarter 2023 Highlights

Local Currency

Adj Operating

Adjusted

Sales

Margin

EPS

(13%)

30.1%

$9.40

down (380bp)

down (22%)

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Sales by Geography

Q4 local currency sales growth

Americas

Europe

Asia/ROW

Total

43%

28%

29%

9% LC

8% LC

$1,058

(13%) LC

(7%) LC

$428

$935

$402

9% LC

9% LC

(16%) LC

$336

(18%) LC

$294

$273

$260

4Q22

4Q23

4Q22

4Q23

4Q22

4Q23

4Q22

4Q23

4

USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Geography

Full year local currency sales growth

Americas

Europe

Asia/ROW

Total

41%

27%

32%

11% LC

(3%) LC

$3,920

$3,788

12% LC

(1%) LC

$1,582

$1,568

13% LC

$1,323

(5%) LC

6% LC

(2%) LC

$1,205

$1,014

$1,015

2022

2023

2022

2023

2022

2023

2022

2023

5

USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Product

Q4 local currency sales growth

Laboratory

Industrial

Food Retail

Total

55%

40%

5%

9% LC

10% LC

$1,058

(13%) LC

$616

(18%) LC

$935

$513

6% LC

(7%) LC

$396

$370

12% LC

9% LC

$46

$51

4Q22

4Q23

4Q22

4Q23

4Q22

4Q23

4Q22

4Q23

6

USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Sales by Product

Full year local currency sales growth

Laboratory

Industrial

Food Retail

Total

55%

39%

6%

11% LC

(3%) LC

$3,920

12% LC

$3,788

$2,230

(7%) LC

$2,069

9% LC

(1%) LC

$1,511

$1,490

1% LC

27% LC

$229

$179

2022

2023

2022

2023

2022

2023

2022

2023

7

USD in 000's, figures may not foot due to rounding. Local currency (LC) sales growth excludes the impact from changes in foreign exchange rates

Profit & Loss Statement - Q4 2023

(USD in 000's)

Q4 2023

Q4 2022

Change

Net Sales

$934,992

$1,057,685

(12%)

Local Currency Growth %

(13%)

9%

Gross Profit

551,638

632,140

(13%)

Gross Profit Margin %

59.0%

59.8%

(80bp)

Research and Development

46,435

45,942

1%

% of Sales

5.0%

4.3%

70bp

Selling, General and Administrative

223,427

227,586

(2%)

% of Sales

23.9%

21.5%

240bp

Adjusted Operating Profit

281,776

358,612

(21%)

Adj Margin %

30.1%

33.9%

(380bp)

Adjusted EPS

$9.40

$12.10

(22%)

8

Profit & Loss Statement - YTD 2023

(USD in 000's)

YTD 2023

YTD 2022

Change

Net Sales

$3,788,309

$3,919,709

(3%)

Local Currency Growth %

(3%)

11%

Gross Profit

2,241,286

2,308,042

(3%)

Gross Profit Margin %

59.2%

58.9%

30bp

Research and Development

185,284

177,122

5%

% of Sales

4.9%

4.5%

40bp

Selling, General and Administrative

904,106

938,461

(4%)

% of Sales

23.9%

23.9%

0bp

Adjusted Operating Profit

1,151,896

1,192,459

(3%)

Adj Margin %

30.4%

30.4%

0bp

Adjusted EPS

$38.03

$39.65

(4%)

9

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Thank You.

Disclaimer

Mettler Toledo International Inc. published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2024 00:11:06 UTC.