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    Mettler-Toledo International Inc (MTD)

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    Mettler-Toledo International Inc. is a leading global supplier of precision instruments and services, holding strong leadership positions in its markets. The company is diversified across several product lines, including laboratory instruments, industrial instruments, and retail products. Mettler-Toledo's products are essential in industries such as pharmaceuticals, biotechnology, food, and chemicals, and are sold in more than 140 countries, with a direct presence in approximately 40 countries .

    1. Laboratory Instruments - Offers a wide variety of precision instruments used for sample preparation, synthesis, analytical bench top, material characterization, and in-line measurement, serving industries like pharmaceuticals, biotechnology, food, and chemicals.
    2. Industrial Instruments - Includes industrial weighing instruments, terminals, and software solutions for industries such as pharmaceuticals, chemicals, and food, along with product inspection systems like metal detection and x-ray systems used in production and packaging.
    3. Retail Products - Provides products and solutions for the food retail industry.
    NamePositionStart DateShort Bio
    Patrick KaltenbachPresident and Chief Executive OfficerJanuary 2021Patrick Kaltenbach joined Mettler-Toledo in January 2021 and became CEO on April 1, 2021. He previously served as President of the Life Sciences Segment at Becton Dickinson and held leadership roles at Agilent and Hewlett Packard .
    Marc de La GuéronnièreHead of European and North American Markets2001Marc de La Guéronnière joined Mettler-Toledo in 2001. He became Head of European Market Organizations in January 2008 and added North American responsibilities in April 2014. He previously worked with ABB-Elsag Bailey and Danaher-Zellweger .
    Gerhard KellerHead of Process Analytics1991Gerhard Keller joined Mettler-Toledo in 1991 and has been Head of Process Analytics since July 2018. He was previously Head of Pipettes and held leadership roles in Sales and Marketing in Europe and Asia Pacific .
    Christian MaglothHead of Human ResourcesOctober 2010Christian Magloth joined Mettler-Toledo in October 2010 and became Head of Human Resources in December 2010. He was previously Head of HR at Straumann and held management positions at Hero Group and Hilti .
    Shawn P. VadalaChief Financial Officer1997Shawn P. Vadala joined Mettler-Toledo in 1997 and has been CFO since January 2014. He is responsible for the Pricing program since 2008 and held senior financial positions in Columbus, Ohio, and Greifensee, Switzerland .
    Richard WongHead of Asia/Pacific2008Richard Wong has been Head of Asia/Pacific Market Organizations since 2009. He joined Mettler-Toledo in 2008 and previously held regional management positions with Agilent Technologies and began his career at Hewlett Packard .
    1. Given that your service business represents approximately 25% of sales and you've only penetrated about one-third of the $3 billion potential service revenue from your installed base , what specific strategies are you implementing to accelerate penetration, and what challenges do you anticipate in capturing the remaining two-thirds?
    2. With your food retail business declining from 15% to about 5% of revenues and facing consistent challenges , what is your long-term strategic plan for this segment, and are you considering any strategic alternatives to address its underperformance?
    3. Considering that operating profit margin expansion is expected to be 50 basis points in 2024, but would have been slightly down excluding shipping delays, and that volumes are still down , how do you plan to achieve meaningful margin expansion going forward, especially given the lack of margin growth over the past 2-3 years?
    4. Despite China having above corporate average margins, its decline has been a headwind to overall margins, and market conditions remain challenging ; what are your expectations for China in 2025, and how will you mitigate the impact if softness persists in this key market?
    5. Given that 70% to 80% of your business is replacement business that has been deferred for almost two years in sectors like pharmaceuticals , how confident are you that delayed budgets will be released soon, and what are your contingency plans if the anticipated catch-up in replacement cycles does not occur as expected?
    Program DetailsProgram 1
    Approval DateNovember 2022
    End Date/DurationN/A
    Total additional amount$2.5 billion
    Remaining authorization amount$1.9 billion
    DetailsThe program aims to buy back shares through open market transactions, funded by cash from operations, borrowings, and cash balances. The timing and amount depend on business and market conditions, stock price, trading restrictions, and acquisition activity.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$60.8 Current portion of other local arrangementsN/A2.9% = (60.8 / 2,077.5) * 100
    2025$125.0 4.24% ten-year Senior Notes4.24 6.0% = (125.0 / 2,077.5) * 100
    2029$75.0 3.91% ten-year Senior Notes3.91 3.6% = (75.0 / 2,077.5) * 100
    2030$139.5 1.47% Euro fifteen-year Senior Notes1.47 6.7% = (139.5 / 2,077.5) * 100
    2033$150.0 5.45% ten-year Senior Notes5.45 7.2% = (150.0 / 2,077.5) * 100
    2033$125.0 2.83% twelve-year Senior Notes2.83 6.0% = (125.0 / 2,077.5) * 100
    2034$150.6 1.30% Euro fifteen-year Senior Notes1.30 7.2% = (150.6 / 2,077.5) * 100
    2035$50.0 3.19% fifteen-year Senior Notes3.19 2.4% = (50.0 / 2,077.5) * 100
    2036$139.5 1.06% Euro fifteen-year Senior Notes1.06 6.7% = (139.5 / 2,077.5) * 100
    2037$150.0 2.81% fifteen-year Senior Notes2.81 7.2% = (150.0 / 2,077.5) * 100
    2037$150.0 2.91% fifteen-year Senior Notes2.91 7.2% = (150.0 / 2,077.5) * 100
    2029$1,350.0 Credit Agreement (revolving credit facility)N/A65.0% = (1,350.0 / 2,077.5) * 100
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2005 PresentCurrent auditor