Slide 1: Analyst / Investor Conference Call Results Q2 2014
Analyst / Investor Conference Call Results Q2 2014 Uwe Röhrhoff, Chief Executive Officer Rainer Beaujean, Chief Financial Officer July 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 Q2 2014 Uwe Röhrhoff, CEO Financial Overview Q2 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 3
Slide 4: Q2 2014: Strong development of operating metrics
Q2 2014: Strong development of operating metrics Key Group figures in EUR m, EPS in EUR Revenues adjusted EBITDA FXN: +6.0% FXN Q2 2014: EUR 67.1m // +14.1% q-o-q +2.6% +9.1% 18.3% Margin 19.4% adjusted EPS Net financial debt +15.9% +2.5% 4
Slide 5: Q2 2014: Revenue and margin growth driven by all divisions
Q2 2014: Revenue and margin growth driven by all divisions Plastics & Devices: Strong organic growth driven by primary packaging, tooling and syringes business Adjusted EBITDA margin increased slightly Primary Packaging Glass: Normalized demand situation led to growth in the quarter Adju
Slide 6: Agenda
Agenda Review Q2 2014 Uwe Röhrhoff, CEO Financial Overview Q2 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 6
Slide 7: Q2 2014: Revenues by division
Q2 2014: Revenues by division Q2 2014 Q2 2013 Change Change in % at EUR m EUR m in % const. FX1 Total Group 335.4 327.1 +2.6 +6.0 Plastics & Devices 160.2 150.5 +6.4 +10.6 Primary Packaging Glass 158.0 159.0 -0.6 +2.1 Life Science Research 21.7 22.4 -2.6 +2.8 1 Currency effects are generally transla
Slide 8: Q2 2014: Adjusted EBITDA and margin by division
Q2 2014: Adjusted EBITDA1 and margin by division Q2 2014 Q2 2013 Margin Margin EUR m in % EUR m in % Total Group 65.1 19.4 59.8 18.3 Plastics & Devices 33.0 20.6 30.9 20.5 Primary Packaging Glass 33.7 21.3 31.3 19.7 Life Science Research 3.0 14.0 3.0 13.4 1 Earnings before income taxes, net finance
Slide 9: Key balance sheet and cash flow figures
Key balance sheet and cash flow figures May 31, 2014 May 31, 2013 Change EUR m EUR m in % Total assets 1,632.6 1,664.8 -0.7 Equity 570.6 535.2 +6.6 Equity ratio in % 35.0 32.1 Net working capital1 239.8 222.0 +8.0 in % of LTM revenues 18.8 17.6 Q2 2014 Q2 2013 Change EUR m EUR m in % Capex 25.1 33.4
Slide 10: Long-term financing structure with ample financial leeway
Long-term financing structure with ample financial leeway Debt/cash positions May 31, 2014 May 31, 2013 Change in EUR m EUR m EUR m in % Bond 300.0 300.0 - Long-term bank debt 83.9 111.7 -24.9 Revolving bank debt 150.1 123.9 +21.1 Local borrowings and leasing 14.5 14.9 -2.7 Total financial debt 548.
Slide 11: Agenda
Agenda Review Q2 2014 Uwe Röhrhoff, CEO Financial Overview Q2 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 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 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: Agenda
Agenda Review Q2 2014 Uwe Röhrhoff, CEO Financial Overview Q2 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 15
Slide 16: Gerresheimer: Divisional setup effective from Dec 1, 2013
Gerresheimer: Divisional setup effective from Dec 1, 2013 Customer-focused organization with 3 divisions Life Science Plastics & Devices Primary Packaging Glass Research Andreas Schütte Uwe Röhrhoff Rainer Beaujean 16
Slide 17: Q2 2014 P&L overview
Q2 2014 P&L overview Q2 2014 Q2 2013 Change EUR m EUR m in % Revenues 335.4 327.1 +2.6 Adjusted EBITDA1 65.1 59.8 +9.1 One-off income/expense -0.3 -0.1 >-100 EBITDA 64.8 59.7 +8.5 Amortization of FV adjustments 5.2 5.5 -5.5 Depreciation and amortization 21.8 20.6 +5.8 Profit before interest and taxe
Slide 18: Development of working capital
Development of working capital1 May 31, 2014 May 31, 2013 Nov 30, 2013 EUR m EUR m EUR m Inventories 199.5 203.0 194.5 thereof prepayments made 15.9 19.3 14.0 Trade receivables 189.8 192.1 192.6 Trade payables 104.2 130.9 127.0 Payments received on account of orders 45.3 42.2 58.2 Net working capita
Slide 19: Development of inventories
Development of inventories May 31, 2014 May 31, 2013 Nov 30, 2013 EUR m EUR m EUR m Raw materials, con- sumables and supplies 52.8 50.4 48.8 Work in progress 24.5 19.0 33.1 Finished goods and merchandise 106.3 114.3 98.6 Prepayments made 15.9 19.3 14.0 Inventories 199.5 203.0 194.5 19
Slide 20: Q1-Q2 2014: Revenues by division
Q1-Q2 2014: Revenues by division Q1-Q2 2014 Q1-Q2 2013 Change Change in % at EUR m EUR m in % const. FX1 Total Group 632.9 623.8 +1.5 +4.6 Plastics & Devices 295.8 280.8 +5.3 +9.4 Primary Packaging Glass 304.0 308.0 -1.3 +1.0 Life Science Research 42.0 43.9 -4.2 - 1 Currency effects are generally tr
Slide 21: Q1-Q2 2014: Adjusted EBITDA and margin by division
Q1-Q2 2014: Adjusted EBITDA1 and margin by division Q1-Q2 2014 Q1-Q2 2013 Margin Margin EUR m in % EUR m in % Total Group 112.7 17.8 105.8 17.0 Plastics & Devices 54.0 18.3 50.8 18.1 Primary Packaging Glass 62.4 20.5 60.4 19.6 Life Science Research 5.5 13.1 5.5 12.5 1 Earnings before income taxes, n
Slide 22: Q1-Q2 2014 P&L overview
Q1-Q2 2014 P&L overview Q1-Q2 2014 Q1-Q2 2013 Change EUR m EUR m in % Revenues 632.9 623.8 +1.5 Adjusted EBITDA1 112.7 105.8 +6.6 One-off income/expense -0.3 -0.2 -50.0 EBITDA 112.4 105.6 +6.4 Amortization of FV adjustments 9.4 9.3 +1.1 Depreciation and amortization 43.5 41.2 +5.6 Profit before inte