Slide 1: Announcement of Q3 2008 Results
Announcement of Q3 2008 Results Conference Call October 15, 2008 | 2:00 p.m. CEST 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 Business Highlights Q3 2008 Dr. Axel Herberg, CEO Financial Overview Q3 2008 Hans-Jürgen Wiecha, CFO Confirmation of Guidance FY 2008 Dr. Axel Herberg, CEO 2
Slide 4: Q3 2008 with further profitable growth
Q3 2008 with further profitable growth Sound net sales growth of 7.2% to EUR 268.0m (at constant FX rate: +10.2%); Again all four divisions show increase in sales Adjusted EBITDA grew by 14.1% to EUR 50.3m Adjusted EBITDA margin expansion of 120 bps to 18.8% Net income of EUR -22.8m impacted by writ
Slide 5: Continuous improvement in operating earnings power across all divisions
Continuous improvement in operating earnings power across all divisions Tubular Glass: Full use of existing capacity for RTF-syringe production Additional 3rd line with scheduled production start in Q1 2009 Another quarter with strong growth in vials Plastic Systems: Double-digit growth in Medical P
Slide 6: Agenda
Agenda Business Highlights Q3 2008 Dr. Axel Herberg, CEO Financial Overview Q3 2008 Hans-Jürgen Wiecha, CFO Confirmation of Guidance FY 2008 Dr. Axel Herberg, CEO 5
Slide 7: Group: Sales and earnings development on a high level
Group: Sales and earnings development on a high level Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange Q3 2008: 18.8% rate: 10.2% Q3 2007: 17.6% Net sales growth of 10.2% before +7.2% FX rate effects fueled by strong 268.0 demand for pharma and cosmetic 2
Slide 8: Tubular Glass: RTF syringes continue to drive top line
Tubular Glass: RTF syringes continue to drive top line Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange Q3 2008: 24.6% rate: 19.1% Q3 2007: 25.0% RTF syringes post growth rate of 54% vs. Q3 2007 +14.0% 77.6 Continued sales increase 68.1 in American and Ch
Slide 9: Plastic Systems: Strong sales in core areas
Plastic Systems: Strong sales in core areas Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange Q3 2008: 17.5% rate: 5.5% Q3 2007: 16.7% Double-digit sales growth in +6.2% Medical Plastic Systems Segment 82.7 87.8 driven by strong demand in Inhalation, Diabe
Slide 10: Moulded Glass: Market growth rate outperformed again
Moulded Glass: Market growth rate outperformed again Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange Q3 2008: 20.8% rate: 7.7% Q3 2007: 19.1% Above market rate growth thanks to positive sales trend in +5.0% US and European market for 83.7 pharma bottles
Slide 11: Life Science Research: Successful quarter with margin jump
Life Science Research: Successful quarter with margin jump Net sales and adjusted EBITDA EUR m Net sales growth at Adj. EBITDA margin: constant exchange Q3 2008: 12.7% rate: +26.4% Q3 2007: 8.7% Margin uplift of 400 basis points created by good +10.1% progress in integration and 20.8 22.9 streamlini
Slide 12: Net income impacted by potential book loss from intended sale of TPS
Net income impacted by potential book loss from intended sale of TPS EUR m Q3 2008 Q3 2007 Adjusted EBITDA1 50.3 44.1 Restructuring expenses + one-off income and -0.2 9.0 expenses EBITDA 50.5 35.1 Depreciation and fair value amortization 28.4 24.1 Book loss from disinvestment 33.0 0.0 Profit from op
Slide 13: Key metrics prove financial stability
Key metrics prove financial stability Q3 as of Q3 as of FY 2007 as of EUR m Aug 31, 2008 Aug 31, 2007 Nov 30, 2007 Equity 480.2 491.5 -2,3% 499.9 Equity ratio in % 33.6 34.2 34.8 Net working capital1 205.9 187.0 +10.1% 179.8 in % of LTM net sales 19.7 21.6 18.8 Net financial debt2 437.8 414.3 +5.7%
Slide 14: Profitability increased while leverage decreased
Profitability increased while leverage decreased EUR m Acquistion of EDP + Allplas 458.1 456.2 437.8 414.3 390.6 2.4 2.4 2.3 Adjusted EBITDA 2.2 leverage 2.1 Net debt Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 13
Slide 15: 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 437.8 Bond 126.0 7.9%; Fixed coupon 2015 Long-term 5.7%; Hedged 100% 2012 / 2013 bank debt 232.0 until Sep 2010 55bps over Euribor/Libor
Slide 16: Agenda
Agenda Business Highlights Q3 2008 Dr. Axel Herberg, CEO Financial Overview Q3 2008 Hans-Jürgen Wiecha, CFO Confirmation of Guidance FY 2008 Dr. Axel Herberg, CEO 15
Slide 17: Positive performance review one year after IPO
Positive performance review one year after IPO Accelerated growth of sales and earnings: LTM net sales growth of 20% driven by both organic growth and acquisitions LTM adjusted EBITDA growth of 25% driven by operational excellence, favorable sales mix and high capacity utilization Well executed inve
Slide 18: Confirmation of Guidance FY 2008
Confirmation of Guidance FY 2008 Growth rate 9-11% Net Sales Mid 19% Adj. EBITDA margin Expected investments of Capex EUR 105m – EUR 110m Ongoing market observation for Portfolio value-accretive M&A transactions optimization 17
Slide 19: Financial Calendar 2008 / 2009
Financial Calendar 2008 / 2009 October 23+24, 2008 Capital Markets Day 2008 February 17, 2009 Full Year Results 2008 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 18
Slide 20: Investor Relations Contact Details
Investor Relations Contact Details Phone: +49 211 6181 – 257 Fax: +49 211 6181 – 121 E-mail: gerresheimer.ir@gerresheimer.com Please visit our IR website: www.gerresheimer.com/ir 19
Slide 21: BACKUP Q1-Q3 2008: Gerresheimer Group
BACKUP Q1-Q3 2008: Gerresheimer Group Net sales and adjusted EBITDA EUR m Adj. EBITDA margin: Net sales growth at constant Q1-Q3 2008: 18.8% exchange rate: 15.8% Q1-Q3 2007: 17.8% +12.3% 783.4 697.4 +18.1% 124.4 146.9 Net sales Adj. EBITDA1 Q1-Q3 2007 Q1-Q3 2008 1 Earnings before financial result, i
Slide 22: Q1-Q3 2008 Tubular Glass Plastic Systems
Q1-Q3 2008 Tubular Glass Plastic Systems Net sales and adjusted EBITDA Net sales and adjusted EBITDA EUR m EUR m Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q1-Q3 2008: 24.5% constant exchange Q1-Q3 2008: 18.4% rate: 16.5% Q1-Q3 2007: 24.0% rate:
Slide 23: Q1-Q3 2008 Moulded Glass Life Science Research
Q1-Q3 2008 Moulded Glass Life Science Research Net sales and adjusted EBITDA Net sales and adjusted EBITDA EUR m EUR m Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q1-Q3 2008: 21.1% constant exchange Q1-Q3 2008: 11.9% rate: 8.4% Q1-Q3 2007: 19.3%
Slide 24: Q1-Q3 2008 Net sales Adjusted EBITDA
Q1-Q3 2008 EUR m Q1-Q3 2008 Q1-Q3 2007 FY 2007 Net sales 783.4 697.4 +12.3% 957.7 Adjusted EBITDA1 146.9 124.4 +18.1% 181.6 Margin 18.8% 17.8% 19.0% Adjusted EBITA2 92.9 77.3 +20.2% 116.6 Margin 11.9% 11.1% 12.2% Profit from operations 22.5 34.8 -35.3% 53.3 Net income -14.7 -13.1 >100% 0.8 Adjusted
Slide 25: Q1-Q3 2008 Equity Net working capital
Q1-Q3 2008 Q1-Q3 as of Q1-Q3 as of FY 2007 as of EUR m Aug 31, 2008 Aug 31, 2007 Nov 30, 2007 Equity 480.2 491.5 -2.3% 499.9 Equity ratio in % 33.6 34.2 34.8 Net working capital1 205.9 187.0 +10.1% 179.8 in % of LTM net sales 19.7 21.6 18.8 Net financial debt2 437.8 414.3 +5.7% 390.6 Adjusted EBITDA