Slide 1: Announcement of FY 2008 Results and Guidance 2009
Announcement of FY 2008 Results and Guidance 2009 Analyst Conference February 17, 2009 | 3:00 p.m. CET Dr. Axel Herberg, CEO Hans-Jürgen Wiecha, CFO 0
Slide 2: Disclaimer
Disclaimer This presentation may contain certain forward-looking statements, including assumptions, opinions and views of the Company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or
Slide 3: Agenda
Agenda Key Facts FY 2008 Dr. Axel Herberg, CEO Financial Overview FY 2008 Hans-Jürgen Wiecha, CFO Guidance FY 2009 Dr. Axel Herberg, CEO 2
Slide 4: Successful performance of operations in FY 2008 Guidance accomplished
Successful performance of operations in FY 2008 Guidance accomplished Net sales growth of 10.7% to EUR 1,060.1m (at constant FX rate: +12.8%) Adjusted EBITDA rose by 13.7% to EUR 206.4m Adjusted EBITDA margin grew from 19.0% to 19.5% Adjusted EPS improved markedly from EUR 1.34 by 36.6% to EUR 1.83
Slide 5: Positive trend established
Positive sales and adjusted EBITDA trend established EUR m 1060.1 957.7 19 . 5 646.7 19 . 0 19 . 0 181.6 206.4 122.6 2006 2007 2008 Net Sales Adjusted EBITDA Adjusted EBITDA margin 4
Slide 6: All divisions contributed to sales and margin growth
All divisions contributed to sales and margin growth Tubular Glass: RTF capacity expansion on track Strong demand for vials Plastic Systems: Medical Plastic Systems remains the growth engine Plastic Packaging: acquisitions successfully integrated Divestment of Consumer Healthcare Moulded Glass: Furt
Slide 7: Agenda
Agenda Key Facts FY 2008 Dr. Axel Herberg, CEO Financial Overview FY 2008 Hans-Jürgen Wiecha, CFO Guidance FY 2009 Dr. Axel Herberg, CEO 6
Slide 8: Group: Increased sales and earnings across all divisions
Group: Increased sales and earnings across all divisions Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange FY 2008: 19.5% rate: 12.8% FY 2007: 19.0% 12.8% sales growth at constant FX +10.7% rate impacted by 1,060.1 Rising demand for our pharma 957.7 & life
Slide 9: Tubular Glass: RTF syringes remain key growth driver
Tubular Glass: RTF syringes remain key growth driver Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange FY 2008: 25.6% rate: 14.1% FY 2007: 24.6% Strong sales growth driven by +11.4% 36% revenue growth of RTF 302.0 syringes 271.2 Good performance of vials i
Slide 10: Plastic Systems: Growth in sales and earnings fueled by Medical Plastic Systems and two acquisitions
Plastic Systems: Growth in sales and earnings fueled by Medical Plastic Systems and two acquisitions Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange FY 2008: 19.3% rate: 15.2% FY 2007: 18.7% Medical Plastic Systems was the key +15.4% growth driver: 346.0
Slide 11: Moulded Glass: Higher growth rate compared with the market
Moulded Glass: Higher growth rate compared with the market Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange FY 2008: 21.3% rate: 6.6% FY 2007: 20.4% Sales growth mainly driven by high +4.7% demand for 333.7 318.8 Pharma bottles in the US and Europe Cosmet
Slide 12: Life Science Research: New setup starts to bear fruits
Life Science Research: New setup starts to bear fruits Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange FY 2008: 12.2% rate: 41.0% FY 2007: 10.7% Net sales growth fueled by JV with Life Science business of +28.5% 92.8 Thermo Fisher (5 months included in F
Slide 13: Key operating metrics show positive development
Key operating metrics show positive development FY 2008: Dec 1, 2007 – FY 2007: Dec 1, 2006 – EUR m Nov 30, 2008 Nov 30, 2007 Adjusted EBITDA1 206.4 181.6 +13.7% EBITDA 204.9 152.3 +34.5% Profit from operations 61.0 53.3 +14.4% Net income before taxes 17.3 -24.3 >100% Net income 4.5 0.8 >100% Adjust
Slide 14: Financial stability is our foundation
Financial stability is our foundation FY 2008 as of FY 2007 as of EUR m Nov 30, 2008 Nov 30, 2007 Equity 479.1 499.9 Equity ratio in % 31.1 34.8 Net Working Capital1 163.0 179.8 in % of LTM net sales 15.4 18.8 Net financial debt2 421.6 390.6 Adjusted EBITDA leverage3 2.0 2.2 Dec 1, 2007 – Dec 1, 200
Slide 15: Adjusted EBITDA leverage with favorable development despite recent acquisitions and high investments
Adjusted EBITDA leverage with favorable development despite recent acquisitions and high investments Acquisition of EDP EUR m + Allplas 458.1 456.2 437.8 414.3 421.6 390.6 2 .4 2 .4 2 .3 2 .2 2 .1 2 .0 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Net Financial Debt Adjusted EBITDA leverage 14
Slide 16: Secured long-term financing structure; liquidity reserves through EUR 175m committed revolver
Secured long-term financing structure; liquidity reserves through EUR 175m committed revolver Debt/cash positions in EUR m1 Interest rate Due by Net financial debt 421.6 Bond 126.0 7.9%; Fixed coupon 2015 Long-term bank debt 256.4 5.7%; Hedged 100% 2012 / 2013 until Sep 2010 Revolving bank debt 53.8
Slide 17: Agenda
Agenda Key Facts FY 2008 Dr. Axel Herberg, CEO Financial Overview FY 2008 Hans-Jürgen Wiecha, CFO Guidance FY 2009 Dr. Axel Herberg, CEO 16
Slide 18: Guidance FY 2009: Core activities (excl. Technical Plastic Systems)
Guidance FY 2009: Core activities (excl. Technical Plastic Systems) Growth of 6-7% as reported Net Sales Growth of 3-4% at constant FX rate 19.0 - 19.2% Adj. EBITDA margin Expected investments of Capex EUR 100m - 105m Ongoing market observation for value- accretive M&A transactions Portfolio optimiz
Slide 19: Assumptions for sales and adjusted EBITDA margin guidance
Assumptions for sales and adjusted EBITDA margin guidance (excl. Technical Plastic Systems) Sales growth of 6-7% Guidance includes the following effects (vs. FY 2008): Exchange rate: EUR 1.00 = USD 1.48 actual FY 2008 Exchange rate: EUR 1.00 = USD 1.30 budget FY 2009 +3 percentage points Slower sale
Slide 20: Assumptions Technical Plastic Systems FY 2009
Assumptions Technical Plastic Systems FY 2009 Sales EUR 35-45m (FY 2008: EUR 63m) Adjusted EBITDA EUR 0 to -3m (FY 2008: mid single digit EBITDA margin) Cash Flow Neutral in 2009 19
Slide 21: Further growth based on stability of business model
Further growth based on stability of business model Strong focus on Pharma & Life Science Industry Leading market positions in attractive niche markets Major share of sales out of prescription drugs Highly diversified customer base High barriers to entry due to regulatory environment 20
Slide 22: Financial Calendar
Financial Calendar April 2, 2009 Interim Report 1st Quarter 2009 April 29, 2009 Annual General Meeting July 15, 2009 Interim Report 2nd Quarter 2009 October 15, 2009 Interim Report 3rd Quarter 2009 21
Slide 23: Investor Relations Contact Details
Investor Relations Contact Details Phone +49 211 6181-257 Fax +49 211 6181-121 E-mail gerresheimer.ir@gerresheimer.com IR website www.gerresheimer.com/ir 22
Slide 24: Backup Q4 2008: Gerresheimer Group
Backup Q4 2008: Gerresheimer Group Net sales and adjusted EBITDA EUR m Adj. EBITDA margin: Net sales growth at constant Q4 2008: 21.5% exchange rate: 4.8% Q4 2007: 22.0% +6.3% 276.7 260.3 +4.2% 57.2 59.6 Net sales Adj. EBITDA1 Q4 2007 Q4 2008 1 Earnings before financial result, income taxes, amortiz
Slide 25: Q4 2008 Net sales and adjusted EBITDA in EUR m Tubular Glass
Q4 2008 Net sales and adjusted EBITDA in EUR m Tubular Glass Plastic Systems Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q4 2008: 28.6% constant exchange Q4 2008: 22.1% rate: 7.7% Q4 2007: 26.2% rate: 8.1% Q4 2007: 22.1% +7.8% +11.8% 87.4 80.7 81
Slide 26: Q4 2008 Net sales and adjusted EBITDA in EUR m Moulded Glass
Q4 2008 Net sales and adjusted EBITDA in EUR m Moulded Glass Life Science Research Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q4 2008: 22.0% constant exchange Q4 2008: 12.9% rate: 1.6% Q4 2007: 23.6% rate: 2.4% Q4 2007: 12.8% +2.7% +4.1% 84.5 86