Gerresheimer Ag · XETR:GXI
Gerresheimer — Q3 2024 Earnings Presentation
20 slides from Gerresheimer's earnings presentation, Oct 10, 2024
Slide 1: Q3/9M 2024 Results Presentation
Q3/9M 2024 Results Presentation Dietmar Siemssen Dr. Bernd Metzner
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: Q3 2024 Review
Q3 2024 Review Q3 2024: Growth driven by Plastics & Devices Organic Development: − Q4: Growth quarter ahead − P&D: High demand for drug with ramp-up of new lines Revenue growth: Adj. EBITDA growth: delivery systems: revenue +8%, Adj. EBITDA +11% − Lower than anticipated +2.6% +3.5% growth in the via
Slide 4: Q3 2024: Slight Growth Compared to Previous Year
Q3 2024: Slight Growth Compared to Previous Year Operational View on KPIs in Q3 2024 Revenues Adj. EBITDA Adj. EPS (in EURm) (in EURm) (in EUR) Organic growth yoy: Organic growth yoy: Organic growth yoy: +2.6% +3.5% +3.6% 104 488 499 100 1.16 1.07 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 4 10
Slide 5: Q3 2024: P&D with continued margin improvement
Q3 2024: P&D with continued margin improvement Operational View on KPIs in Q3 2024 by Division Organic yoy In EURm & margin Revenues Adj. EBITDA +7.9% +10.9% Margin improvement by 70bps 261 279 70 63 ▪ Organic revenue growth of 7.9% driven by strong demand for drug 25.1% P&D 24.4% delivery systems a
Slide 6: Q3 2024: Free Cash Flow Development as Expected
Q3 2024: Free Cash Flow Development as Expected Cash Flow and Net Financial Debt In EURm Q3 2024 Q3 2023 Adjusted EBITDA 104.4 100.0 Change in net working capital -3.6 74.3 Net interest paid -8.8 -5.4 Net taxes paid -14.7 -11.8 Other -6.1 1.8 Cash flow from operating activities 71.3 158.9 Net capex
Slide 7: Near Term Guidance Update: Good Momentum but Recovery from Destocking Slower
Near Term Guidance Update: Good Momentum but Recovery from Destocking Slower than Initial Expectations ▪ Higher growth in Q4: robust growth in P&D - return to growth in PPG ▪ However, slower than anticipated vial market recovery and some softness FY 2024 in F&B moulded glass ▪ Recent flooding in our
Slide 8: Guidance
Guidance FY 2024, FY 2025 and Mid-Term Guidance (organic; group level)* Revenue Growth Adjusted EBITDA Previous New Previous New Growth 415-430 FY 2024 3-4% EURm Growth ~22% FY 2025 7-10% Margin Mid-term No Change No Change * Adjusted EPS Growth for 2024 is expected to be between 2 and 8%; Adjusted
Slide 9: Continued Strong Conviction in Medium-Term Double-Digit Growth Ambition
Continued Strong Conviction in Medium-Term Double-Digit Growth Ambition and Robust Margin Expansion Trajectory 1 Bring the Drug to the Patient Bring the Drug into the Patient Improve Patient´s Health Outcome Strategic Partner of Choice for the Global Pharma and Biotech Industry Drug Containment Solu
Slide 10: Appendix
gerresheimer
Slide 11: Financial Calendar
Financial Calendar Annual General Meeting 2025 Publication 1st Quarter 2025 Results Publication 4th Quarter/ Full-year 2024 Results June 5th, 2025 April 11th, 2025 February 26th, 2025 11 10-Oct-2024 Gerresheimer AG - Q3/9M 2024 Results Presentation
Slide 12: Q3 2024: Revenue & Organic Growth Reconciliation
Q3 2024: Revenue & Organic Growth Reconciliation in EURm organic growth +2.6% -6.8 -0.4 499.3 -0.8 498.5 -0.5 20.4 -3.0% 487.9 -1.3 486.6 +7.9% Revenue Q3 2023 FX Revenue Q3 P&D PPG GAT HQ, Cons. Revenue Q3 FX Revenue Q3 2024 2023 (organic) 2024 (organic) 12 10-Oct-2024 Gerresheimer AG - Q3/9M 2024
Slide 13: 9M 2024: Revenue & Organic Growth Reconciliation
9M 2024: Revenue & Organic Growth Reconciliation in EURm organic growth +2.0% -38.4 69.0 1,465.1 1.9 1,467.0 -3.4 1.5 -5.6% 1,445.3 -8.9 1,436.4 +9.2% Revenue 9M 2023 FX Revenue 9M P&D PPG GAT HQ, Cons. Revenue 9M FX Revenue 9M 2024 2023 (organic) 2024 (organic) 13 10-Oct-2024 Gerresheimer AG - Q3/9
Slide 14: Q3 2024: Adj. EBITDA & Organic Growth Reconciliation
Q3 2024: Adj. EBITDA & Organic Growth Reconciliation in EURm organic growth margin 3.5% -4.7 104.2 0.2 104.4 6.9 2.5 -1.1 20.9% 0.7 100.7 -9.4% 100.0 20.7% +10.9% Adj. EBITDA FX Adj. EBITDA Q3 P&D PPG GAT HQ, Cons. Adj. EBITDA Q3 FX Adj. EBITDA Q3 2023 2023 (organic) 2024 (organic) Q3 2024 14 10-Oct
Slide 15: 9M 2024: Adj. EBITDA & Organic Growth Reconciliation
9M 2024: Adj. EBITDA & Organic Growth Reconciliation in EURm organic growth margin +3.1% -17.8 28.0 292.9 -0.2 292.7 -3.2 1.9 -12.8% 20.0% 285.2 -1.2 284.0 19.8% +15.7% Adj. EBITDA FX Adj. EBITDA 9M P&D PPG GAT HQ, Cons. Adj. EBITDA 9M FX Adj. EBITDA 9M 2023 2023 (organic) 2024 (organic) 9M 2024 15
Slide 16: Reconciliation Q3 2024: Reported and Adjusted Financials
Reconciliation Q3 2024: Reported and Adjusted Financials Q3 2024 Q3 2023 Org. growth YoY1 In EURm Reported Adjustment Adjusted Adjusted Adjusted Revenues 498.5 498.5 487.9 2.6% EBITDA 97.9 6.6 104.4 100.0 3.5% Depreciation & Amortization -49.5 9.8 -39.7 -34.7 EBIT 48.4 16.4 64.7 65.3 Financial Resul
Slide 17: Reconciliation 9M 2024: Reported and Adjusted Financials
Reconciliation 9M 2024: Reported and Adjusted Financials 9M 2024 9M 2023 Org. growth YoY1 In EURm Reported Adjustment Adjusted Adjusted Adjusted Revenues 1,467.0 1,467.0 1,445.3 2.0% EBITDA 278.9 13.8 292.7 285.2 3.1% Depreciation & Amortization -143.0 28.6 -114.4 -105.8 EBIT 135.9 42.4 178.3 179.4
Slide 18: 9M 2024: Strong Cash Flow from Operating Activities
9M 2024: Strong Cash Flow from Operating Activities Cash Flow and Net Financial Debt In EURm 9M 2024 9M 2023 Adjusted EBITDA 292.7 285.2 Change in net working capital -77.6 -38.5 Net interest paid -28.7 -20.9 Net taxes paid -30.8 -43.6 Other -35.3 -37.2 Cash flow from operating activities 106.5 145.
Slide 19: Solid Financial Foundation
Solid Financial Foundation Net Financial Debt & Adjusted EBITDA Leverage Net Financial Debt Maturity Profile In EURm In EURm Q3 2024 Q3 2023 Promissory loans Revolving credit facilities (RCF, total volume) Revolving credit facilities1 380 60 200 Promissory loans 792 942 Local borrowings2 25 25 476 C
Slide 20: innovating for a better life
innovating for a better life