Gerresheimer Ag · XETR:GXI
Gerresheimer — Q3 2007 Earnings Presentation
19 slides from Gerresheimer's earnings presentation, Oct 17, 2007
Slide 1: Results Q3 2007 Conference Call
Results Q3 2007 Conference Call October 17, 2007 | 3:00 p.m. (CET) Dr. Axel Herberg, CEO Hans-Jürgen Wiecha, CFO 0
Slide 2: Agenda
Agenda Business Highlights Q3 2007 Dr. Axel Herberg, CEO Financial Overview Q3 2007 / 9M 2007 Hans-Jürgen Wiecha, CFO Outlook Dr. Axel Herberg, CEO 1
Slide 3: Business Highlights Q3 2007: Snapshot
Business Highlights Q3 2007: Snapshot Further strong development of Gerresheimer AG: Above market organic sales growth rate of 8.8% reflecting Gerresheimer’s strong competitive position and successful execution of growth strategy Remarkable Sales and Adjusted EBITDA growth driven by strong operation
Slide 4: Business Highlights Q3 2007: Divisional Overview
Business Highlights Q3 2007: Divisional Overview Good performance of all business segments except Life Science Research: Tubular Glass: Ramp-up of second RTF line; Investment of 3rd RTF line decided Sustainable sales growth fuelled by high demand of RTF-syringes Continued high demand for vials and a
Slide 5: Agenda
Agenda Business Highlights Q3 2007 Dr. Axel Herberg, CEO Financial Overview Q3 2007 / 9M 2007 Hans-Jürgen Wiecha, CFO Outlook Dr. Axel Herberg, CEO 4
Slide 6: Financial Overview: Gerresheimer Group
Financial Overview Q3 2007 / 9M 2007 Gerresheimer Group Successful execution of profitable growth strategy Organic growth above market level and in-line with FY2007 forecast Net Sales and Adjusted EBITDA >m Organic sales Adj. EBITDA margin: Organic sales Adj. EBITDA margin: 1) growth: 8.8% Q3 2006:
Slide 7: Financial Overview: Tubular Glass
Financial Overview Q3 2007 / 9M 2007 Tubular Glass Successful ramp-up of 2nd RTF-line leads to further sales growth Excellent organic growth development Net Sales and Adjusted EBITDA >m Organic sales Adj. EBITDA margin: Organic sales Adj. EBITDA margin: 1) 1) growth: 15.1% Q3 2006: 26.6% growth: 10.
Slide 8: Financial Overview: Plastic Systems
Financial Overview Q3 2007 / 9M 2007 Plastic Systems Sound performance in core areas above market level Continued focus on higher margin products at Wilden Net Sales and Adjusted EBITDA >m Adj. EBITDA margin: Organic sales Adj. EBITDA margin: Organic sales 9M 2006: 22.6% growth: 12.5%1) Q3 2006: 22.
Slide 9: Financial Overview: Moulded Glass
Financial Overview Q3 2007 / 9M 2007 Moulded Glass Strong demand of Gerresheimer’s pharma and cosmetic products Improved productivity and quality in our operations coupled with sales growth showing positive margin effects Net Sales and Adjusted EBITDA >m Organic sales Adj. EBITDA margin: Organic sal
Slide 10: Financial Overview: Life Science Research
Financial Overview Q3 2007 / 9M 2007 Life Science Research Delayed shipments caused by the set-up of a new IT-system for the JV; strong growth expected in Q4 First integration costs for the new JV Market and production synergies expected in the near future Net Sales and Adjusted EBITDA >m Organic sa
Slide 11: Summary Income Statement
Financial Overview Q3 2007 / 9M 2007 Summary Income Statement Improved net result despite high IPO related one-time charges change change (> m) Q3 2007 Q3 2006 in % 9M 2007 9M 2006 in % Net Sales 250.1 156.1 +60.2 697.4 476.7 +46.3 Adjusted EBITDA1) 44.1 28.4 +55.3 124.4 82.9 +50.1 margin in % +17.6
Slide 12: Capital Structure
Financial Overview Capital Structure New capital structure offers financial flexibility to further execute our growth strategy Aug 31, 2007 May 31, 2007 Nov 30, 2006 Equity (- m) 491.5 31.8 (26.3) Equity Ratio (in %) 34.2 2.3 -2.8 Net Financial Debt (- m) 414.3 838.5 574.7 Leverage 2.3 5.0 4.7 (Net
Slide 13: Net Financial Debt (I)
Financial Overview Net Financial Debt (I) IPO proceeds fully used to deleverage the company leading to more financial flexibility (> m) Aug 31, 2007 May 31, 2007 Nov 30, 2006 Senior Facilities 271.1 562.7 269.3 Senior Notes due 2015 126.0 210.0 210.0 Other Financial Debt 0.0 32.8 93.9 Local Borrowin
Slide 14: Q3 2007 / 9M 2007: Capex
Financial Overview Q3 2007 / 9M 2007: Capex Capex level in-line with enlarged business portfolio Further investments in profitable growth projects -m -m 62.3 18.9 44.3 4.7 25.6 22.6 26.7 5.4 15.4 2.1 12.9 7.8 16.8 16.1 5.4 6.7 Q3 2006 Q3 2007 9M 2006 9M 2007 Tubular Glass Moulded Glass Plastic Syste
Slide 15: Agenda
Agenda Business Highlights Q3 2007 Dr. Axel Herberg, CEO Financial Overview Q3 2007 / 9M 2007 Hans-Jürgen Wiecha, CFO Outlook Dr. Axel Herberg, CEO 14
Slide 16: Outlook FY 2007
Outlook FY 2007 Net Sales Organic growth of approx. 8 – 9% Adjusted EBITDA margin Close to 19% CAPEX Expected investments of -95m – -100m Portfolio optimization Ongoing market observation for value accretive M&A transactions 15
Slide 17: Financial Calendar 2007/2008
Financial Calendar 2007/2008 February 28, 2008 Full Year Results 2007 April 17, 2008 Annual General Meeting 16
Slide 18: Contact Details
Contact Details Investor Relations Phone: +49 211 6181 345 Fax: +49 211 6181 123 Email: investorrelations@gerresheimer.com Please visit our IR website: www.gerresheimer.com/ir 17
Slide 19: 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