Slide 1: Analyst / Investor Conference Call Results Q1 2014
Analyst / Investor Conference Call Results Q1 2014 Uwe Röhrhoff, Chief Executive Officer Rainer Beaujean, Chief Financial Officer April 10, 2014 // 03:00 p.m. CEST
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 Q1 2014 Uwe Röhrhoff, CEO Financial Overview Q1 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO 3
Slide 4: Q1 2014: Solid start to the year as expected
Q1 2014: Solid start to the year as expected Key Group figures in EUR m, EPS in EUR Revenues adjusted EBITDA FXN: + 3.2% FXN Q1 2014: EUR 49.1m // +7.6% q-o-q +0.3% +3.3% 15.5% Margin 16.0% adjusted EPS Net financial debt +5.6% unchanged 4
Slide 5: Q1 2014: Operational review
Q1 2014: Operational review Plastic & Devices: Strong organic growth driven by insulin pens, inhalers and tooling business Adjusted EBITDA margin mirrors strong tooling revenues Primary Packaging Glass: Temporary capacity adjustments to offset lower demand Adjusted EBITDA margin stayed s
Slide 6: Agenda
Agenda Review Q1 2014 Uwe Röhrhoff, CEO Financial Overview Q1 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO 6
Slide 7: Q1 2014: Revenues by division
Q1 2014: Revenues by division Q1 2014 Q1 2013 Change Change in % at EUR m EUR m in % const. FX1 Total Group 297.5 296.7 +0.3 +3.2 Plastics & Devices 135.6 130.3 +4.0 +8.1 Primary Packaging Glass 146.0 149.0 -2.0 +0.1 Life Science Research 20.3 21.5 -5.9 -2.4 1 Currency effects are generally translat
Slide 8: Q1 2014: Adjusted EBITDA and margin by division
Q1 2014: Adjusted EBITDA1 and margin by division Q1 2014 Q1 2013 Margin Margin EUR m in % EUR m in % Total Group 47.6 16.0 46.0 15.5 Plastics & Devices 21.0 15.5 19.9 15.3 Primary Packaging Glass 28.7 19.6 29.1 19.5 Life Science Research 2.5 12.2 2.5 11.7 1 Earnings before income taxes, net finance
Slide 9: Key balance sheet and cash flow figures
Key balance sheet and cash flow figures Feb 28, 2014 Feb 28, 2013 Change EUR m EUR m in % Total assets 1,603.0 1,608.0 -0.3 Equity 570.9 551.1 +3.6 Equity ratio in % 35.6 34.3 Net working capital1 228.1 221.3 +3.1 in % of LTM revenues 18.0 17.7 Q1 2014 Q1 2013 Change EUR m EUR m in % Capex 21.7 16.6
Slide 10: Long-term financing structure with ample financial leeway
Long-term financing structure with ample financial leeway Debt/cash positions Feb 28, 2014 Feb 28, 2013 Change in EUR m EUR m EUR m in % Bond 300.0 300.0 - Long-term bank debt 105.2 134.4 -21.7 Revolving bank debt 76.2 45.0 +69.3 Local borrowings and leasing 15.5 16.8 -7.7 Total financial debt 496.9
Slide 11: Agenda
Agenda Review Q1 2014 Uwe Röhrhoff, CEO Financial Overview Q1 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO 11
Slide 12: Confirmation of FY 2014 Guidance
Confirmation of FY 2014 Guidance1) Revenues +4% to 6% at const. FX EUR 250m to EUR 265m Adj. EBITDA at const. FX 9% to 10% of revenues Capex at const. FX 1 Based on (budgeted) exchange rate assumption for FY 2014 of EUR 1.00 = USD 1.30 12
Slide 13: Financial Calendar
Financial Calendar April 30, 2014 Annual General Meeting 2014 July 10, 2014 Interim Report 2nd Quarter 2014 October 8, 2014 Interim Report 3rd Quarter 2014 October 8+9, 2014 Capital Markets Day 2014 13
Slide 14: Investor Relations & Creditor Relations contact details
Investor Relations & Creditor 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 14
Slide 15: Backup
GERRESHEIMER Backup
Slide 16: Gerresheimer: Divisional setup effective from Dec 1, 2013
Gerresheimer: Divisional setup effective from Dec 1, 2013 Customer-focussed organization with 3 divisions Life Science Plastics & Devices Primary Packaging Glass Research Andreas Schütte Uwe Röhrhoff Rainer Beaujean 16
Slide 17: Q1 2014 P&L overview
Q1 2014 P&L overview Q1 2014 Q1 2013 Change EUR m EUR m in % Revenues 297.5 296.7 +0.3 Adjusted EBITDA1 47.6 46.0 +3.3 One-off income/expense - 0.1 -100.0 EBITDA 47.6 45.9 +3.7 Amortization of FV adjustments 4.2 3.8 +10.5 Depreciation and amortization 21.7 20.6 +5.3 Profit before interest and taxes
Slide 18: Development of Working Capital
Development of Working Capital1 Feb 28, 2014 Nov 30, 2013 Feb 28, 2013 EUR m EUR m EUR m Inventories 199.9 194.5 200.6 thereof prepayments made 19.3 14.0 16.3 Trade receivables 187.5 192.6 188.0 Trade payables 100.6 127.0 129.3 Payments received on account of orders 58.7 58.2 38.0 Net Working Capita
Slide 19: Development of Inventories
Development of Inventories Feb 28, 2014 Nov 30, 2013 Feb 28, 2013 EUR m EUR m EUR m Raw materials, con- sumables and supplies 51.8 48.8 51.8 Work in progress 22.6 33.1 21.5 Finished goods and merchandise 106.2 98.6 111.0 Prepayments made 19.3 14.0 16.3 Inventories 199.9 194.5 200.6 19