Slide 1: Analyst / Investor Conference FY 2010 Results and Guidance 2011
Analyst / Investor Conference FY 2010 Results and Guidance 2011 February 10, 2011 03:00 p.m. CET Uwe Röhrhoff, CEO Jürgen Wiecha, CFO
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
Slide 3: Agenda
Agenda Review FY 2010 Uwe Röhrhoff, CEO Financial Overview FY 2010 Jürgen Wiecha, CFO Guidance FY 2011 Uwe Röhrhoff, CEO 3
Slide 4: FY 2010: A record-setting year
FY 2010: A record-setting year Figures in EUR m, EPS in EUR Revenues (ex TPS) adjusted EBITDA 985.9 970.8 1,024.8 206.4 204.5 185.9 08 09 10 08 09 10 Margin 19.5% 18.6% 20.0% Net income adjusted EPS 1.83 1.95 46.7 1.34 4.5 7.0 08 09 10 08 09 10 4
Slide 5: FY 2010: Strong financials
FY 2010: Strong financials Like-for-like revenues increased by 5.6% (+4.0% at constant exchange rates) Pharma business displayed solid growth Rebound in demand for cosmetics packaging, temporary re-stocking Market recovery in Life Science Research, temporary re-stocking Record earnings att
Slide 6: FY 2010: Operational key facts
FY 2010: Operational key facts Tubular Glass: Solid growth partially offset by temporarily weaker syringe sales in H2; Decision to build a 4th line for RTF® syringes Plastic Systems: Successful start of insulin pen production in Brazil; Promising product pipeline Moulded Glass: Capacity utiliz
Slide 7: FY 2010 targets fully achieved
FY 2010 targets fully achieved Guidance 2010 ex Confirmed Guidance Actual results TPS (as of Feb 10, 2010) 2010 (as of July 14, 2010) FY 2010 Net revenues +2% to 4% as reported1 +2% to 4% at const. FX +5% to 6% as reported2 +3% to 4% at const. FX +5.6% as reported +4.0% at const. FX Adj. EBITDA ma
Slide 8: Agenda
Agenda Review FY 2010 Uwe Röhrhoff, CEO Financial Overview FY 2010 Jürgen Wiecha, CFO Guidance FY 2011 Uwe Röhrhoff, CEO 8
Slide 9: FY 2010 P&L overview
FY 2010 P&L overview FY 2010 FY 2009 Change EUR m EUR m in % Total revenues (ex TPS) 1,024.8 970.8 +5.6 Adjusted EBITDA1 204.5 185.9 +10.0 EBITA 119.8 98.8 +21.3 Amortization of FV adjustments 24.8 38.3 -35.2 Profit before interest and taxes (EBIT) 95.0 60.5 +57.0 Financial result -34.3 -40.3 -14.9
Slide 10: FY 2010: Revenues by division
FY 2010: Revenues by division FY 2010 Change Change in % at const. EUR m in % FX Total Group (ex TPS) 1,024.8 +5.6 +4.0 Tubular Glass 310.4 +2.5 +0.5 Plastic Systems (ex TPS) 307.9 +7.8 +6.3 Moulded Glass 327.3 +6.3 +5.6 Life Science Research 95.0 +8.8 +5.5 10
Slide 11: FY 2010: Adjusted EBITDA and margin by division
FY 2010: Adjusted EBITDA1 and margin by division FY 2010 FY 2009 Change EUR m in % Margin Margin Total Group (ex TPS) 204.5 +9.8 20.0 19.2 Tubular Glass 70.3 -4.1 22.6 24.2 Plastic Systems (ex TPS) 74.1 +7.4 24.1 24.2 Moulded Glass 67.9 +25.7 20.7 17.5 Life Science Research 11.7 +42.7 12.3 9.4 1 Ear
Slide 12: Key financial figures
Key financial figures November 30, 2010 November 30, 2009 Change EUR m EUR m in % Equity 529.4 480.2 +10.2 Equity ratio in % 39.0 35.8 Net Working Capital 1 151.2 144.4 +4.7 in % of LTM revenues 14.8 14.4 Net Financial Debt 2 311.0 373.3 -16.7 Adjusted EBITDA leverage 1.5 2.0 N/A FY 2010 FY 2009 Cha
Slide 13: Strongly reduced debt position
Strongly reduced debt position Comparison of debt/cash Annual comparison positions of debt/cash ininEUR positions EURm m Net Financial Debt FY 2009: 373.3m FY 2010: 311.0m Bond 126.0 Interest rate (due date): 126.0 7.9%; Fixed coupon (2015) Long-term bank debt 201.6 Interest rate approx. 95% 183.9 h
Slide 14: Q4 2010: Revenues by division
Q4 2010: Revenues by division Q4 2010 Change Change in % at const. EUR m in % FX Total revenues 271.8 +6.2 +3.1 Tubular Glass 76.0 -2.3 -6.4 Plastic Systems 86.3 +12.9 +11.5 Moulded Glass 88.4 +6.5 +4.4 Life Science Research 25.2 +18.3 +8.2 14
Slide 15: Q4 2010: Adjusted EBITDA and margin by division
Q4 2010: Adjusted EBITDA1 and margin by division Q4 2010 Q4 2009 Change EUR m in % Margin Margin Total Group 56.5 -2.6 20.8 22.7 Tubular Glass 14.3 -29.2 18.8 25.8 Plastic Systems 22.8 +7.5 26.4 27.7 Moulded Glass 20.1 +8.6 22.8 22.4 Life Science Research 4.1 +95.2 16.3 9.9 1 Earnings before financi
Slide 16: Agenda
Agenda Review FY 2010 Uwe Röhrhoff, CEO Financial Overview FY 2010 Jürgen Wiecha, CFO Guidance FY 2011 Uwe Röhrhoff, CEO 16
Slide 17: Assumptions for FY 2011 Guidance
Assumptions for FY 2011 Guidance Tubular Glass : H1: RTF business impacted by implementation and validation of new production parameters, bulk business declining H2: Back on the growth path Plastic Systems: Growth driven by new business from strong product pipeline Moulded Glass: Solid gro
Slide 18: Guidance FY 2011
Guidance FY 2011 FY 2010 as reported Guidance FY 2011 Net revenues EUR 1,024.8m +4% to 5% as reported1 +3% to 4% at const. FX Adj. EBITDA 20.0% About 20.0% margin Capex EUR 73.2m About EUR 80m 1 Exchange rate assumption for FY 2011: EUR 1.00 = USD 1.30 (FY 2010 average exchange rate: EUR 1.00 = USD
Slide 19: Gerresheimer's growth opportunities
Gerresheimer’s growth opportunities Pharmerging market penetration Medical devices Diabetes Global market Generics leadership positions RTF® syringes Acquisitions 19
Slide 20: Financial calendar
Financial calendar April 7, 2011 Interim Report 1st Quarter 2011 April 14, 2011 Annual General Meeting July 13, 2011 Interim Report 2nd Quarter 2011 October 6, 2011 Interim Report 3rd Quarter 2011 20
Slide 21: 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 21
Slide 22: Appendix
GERRESHEIMER
Slide 23: FY 2010 Reconciliation from adjusted EBITDA to net income
FY 2010 Reconciliation from adjusted EBITDA to net income FY 2010 FY 2009 EUR m EUR m Adjusted EBITDA 204.5 185.9 Restructuring expenses 3.7 3.6 One-off income/expense 0.0 2.0 EBITDA 200.8 180.3 Amortization of fair value adjustments 24.8 38.3 Depreciation 81.0 76.2 Book loss from disinvestment - 5.
Slide 24: Q4 2010 Reconciliation from adjusted EBITDA to net income
Q4 2010 Reconciliation from adjusted EBITDA to net income Q4 2010 Q4 2009 EUR m EUR m Adjusted EBITDA 56.5 58.0 Restructuring expenses - 1.8 One-off income/expense -0.8 -0.3 EBITDA 57.4 56.5 Amortization of fair value adjustments 6.2 9.7 Depreciation 19.6 20.3 Book loss from disinvestment - - Result