Slide 1: Analyst / Investor Conference Call Q1 2013 Results
Analyst / Investor Conference Call Q1 2013 Results April 10, 2013 03:00 p.m. CEST Uwe Röhrhoff, CEO Rainer Beaujean, 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 Q1 2013 Uwe Röhrhoff, CEO Financial Overview Q1 2013 Rainer Beaujean, CFO Guidance FY 2013 Uwe Röhrhoff, CEO Appendix 3
Slide 4: Q1 2013: Key group figures
Q1 2013: Key group figures in EUR m, EPS in EUR Revenues adjusted EBITDA FXN: + 11.1% adjusted EBITDA Margin + 10.4% + 2.1% 16.8% 15.5% adjusted EPS Net financial debt + 9.1% + 17.6% * Retrospective restatement due to the early adoption of IAS 19 (amended in 2011) from December 1, 2012 4
Slide 5: Q1 2013: Operational review
Q1 2013: Operational review Plastic Systems: Strong organic growth driven by tooling business Adjusted EBITDA margin mirrors strong tooling revenues and ramp up costs Moulded Glass: Revenue growth driven by consolidation of Indian Neutral Glass acquisition Temporary capacity adjustments
Slide 6: Agenda
Agenda Review Q1 2013 Uwe Röhrhoff, CEO Financial Overview Q1 2013 Rainer Beaujean, CFO Guidance FY 2013 Uwe Röhrhoff, CEO Appendix 6
Slide 7: Primary effects from the adoption of IAS 19 revised
Primary effects from the adoption of IAS 19 revised (pro forma as of the reporting date and in the reporting period 2012) IAS 19 (figures in EUR m) IAS 19 Revised (figures in EUR m) Present value of the pension obligation 243.2 Present value of the pension obligation 242.7 Fair value of plan assets
Slide 8: IAS 19 - Pension provision: Pro forma effects on Consolidated Income Statement
IAS 19 - Pension provision Pro forma effects on the Consolidated Income Statement IAS 19 (figures in EUR m) 2012 2012 Change reported revised Service costs of the financial year 1.6 1.7 0.1 Interest expense for earned benefits 9.5 9.5 - Expected return on plan assets -2.4 -1.8 0.6 Effect of recogniz
Slide 9: Q1 2013: Revenues by division
Q1 2013: Revenues by division Q1 2013 Q1 2012 Change Change in % at EUR m EUR m in % const. FX1 Total Group 296.7 268.8 +10.4 +11.1 Plastic Systems 110.1 91.6 +20.2 +23.0 Moulded Glass 90.8 84.0 +8.1 +8.2 Tubular Glass 77.8 73.7 +5.5 +5.1 Life Science Research 21.5 23.0 -6.4 -6.7 1 Currency effects
Slide 10: Q1 2013: Adjusted EBITDA and margin by division
Q1 2013: Adjusted EBITDA1 and margin by division Q1 2013 Pro forma2 Q1 2012 Margin Margin EUR m in % EUR m in % Total Group 46.0 15.5 45.1 16.8 Plastic Systems 18.5 16.8 17.5 19.1 Moulded Glass 16.3 18.0 16.3 19.4 Tubular Glass 14.2 18.2 13.8 18.7 Life Science Research 2.5 11.7 2.5 11.1 1 Earnings b
Slide 11: Q1 2013: Key balance sheet and cash flow figures
Q1 2013: Key balance sheet and cash flow figures Feb. 28, 2013 Feb. 29, 2012 Change EUR m Pro forma3 EUR m in % Total assets 1,608.0 1,513.5 +6.2 Equity 551.1 556.7 -1.0 Equity ratio in % 34.3 36.8 Net working capital1 221.3 196.5 +12.6 in % of LTM revenues 17.7 17.4 Net financial debt2 434.6 369.7
Slide 12: Long-term financing structure with ample financial leeway
Long-term financing structure with ample financial leeway Debt/cash positions Feb. 28, 2013 Feb. 29, 2012 Change in EUR m EUR m EUR m in % Bond 300.0 300.0 0.0 Long-term bank debt 134.4 154.4 -13.0 Revolving bank debt 45.0 0.0 +100.0 Local borrowings and leasing 16.8 24.0 -30.0 Total financial debt
Slide 13: Agenda
Agenda Review Q1 2013 Uwe Röhrhoff, CEO Financial Overview Q1 2013 Rainer Beaujean, CFO Guidance FY 2013 Uwe Röhrhoff, CEO Appendix 13
Slide 14: Confirmation of FY 2013 guidance
Confirmation of FY 2013 guidance Revenues: We continue to anticipate revenue growth of 5% to 6% at constant exchange rates in the financial year 2013 Reported revenues in the financial year 2012 stood at EUR 1,219m1 Adjusted EBITDA margin: We expect an adjusted EBITDA margin of approximate
Slide 15: Financial Calendar
Financial Calendar April 18, 2013 Annual General Meeting July 10, 2013 Interim Report 2nd Quarter 2013 October 2, 2013 Interim Report 3rd Quarter 2013 15
Slide 16: 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 16
Slide 17: Agenda
Agenda Review Q1 2013 Uwe Röhrhoff, CEO Financial Overview Q1 2013 Rainer Beaujean, CFO Guidance FY 2013 Uwe Röhrhoff, CEO Appendix 17
Slide 18: Q1 2013 P&L Overview
Q1 2013 P&L Overview Q1 2013 Q1 2012 Change EUR m Pro forma1 EUR m in % Revenues 296.7 268.8 +10.4 Adjusted EBITDA2 46.0 45.1 +2.1 One-off income/expense -0.1 -2.6 +96.2 EBITDA 45.9 42.5 +8.0 Amortization of FV adjustments 3.8 4.5 -15.6 Depreciation and amortization 20.6 19.8 +4.0 Profit before inte
Slide 19: Development of Working Capital
Development of Working Capital1 Feb. 28, 2013 Nov. 30, 2012 Feb. 29, 2012 EUR m EUR m EUR m Inventories 200.6 189.0 180.6 Trade receivables 188.0 179.4 159.4 Trade payables 129.3 154.3 110.6 Payments received on account of orders 38.0 38.9 32.9 Net Working Capital 221.3 175.2 196.5 in % of LTM reven
Slide 20: Development of Inventories
Development of Inventories Feb. 28, 2013 Nov. 30, 2012 Feb. 29, 2012 EUR m EUR m EUR m Raw materials, con- sumables and supplies 51.8 45.1 46.9 Work in progress 21.5 27.9 21.8 Finished goods and merchandise 111.0 103.6 99.4 Advance payments on inventories 16.3 12.4 12.5 Inventories 200.6 189.0 180.6
Slide 21: Adjusted EBITDA Q2 2012 and ytd-Bridge to pro forma IAS 19 revised
Adjusted EBITDA Q2 2012 and ytd-Bridge from reported to pro forma figures in accordance with IAS 19 revised Pro forma in EUR m Q2 2012 Adjustment Q2 2012 Adjusted EBITDA Plastic Systems 25.3 0.02 25.3 Moulded Glass 18.2 -0.05 18.2 Tubular Glass 16.5 0.61 17.1 Life Science Research 3.5 0.00 3.5 Subto
Slide 22: Adjusted EBITDA Q3 2012 and ytd-Bridge to pro forma IAS 19 revised
Adjusted EBITDA Q3 2012 and ytd-Bridge from reported to pro forma figures in accordance with IAS 19 revised Pro forma in EUR m Q3 2012 Adjustment Q3 2012 Adjusted EBITDA Plastic Systems 22.0 0.02 22.0 Moulded Glass 22.5 -0.05 22.5 Tubular Glass 17.0 0.61 17.6 Life Science Research 3.8 0.00 3.8 Subto
Slide 23: Adjusted EBITDA Q4 2012 and FY-Bridge to pro forma IAS 19 revised
Adjusted EBITDA Q4 2012 and FY-Bridge from reported to pro forma figures in accordance with IAS 19 revised Pro forma in EUR m Q4 2012 Adjustment Q4 2012 Adjusted EBITDA Plastic Systems 28.0 0.02 28.0 Moulded Glass 24.7 -0.05 24.7 Tubular Glass 21.1 0.61 21.7 Life Science Research 3.7 0.00 3.7 Subtot