Slide 1: Q1 2016 Results Presentation
Q1 2016 Results Presentation Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, April 13, 2016
Slide 2: Disclaimer
Disclaimer 1. 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: Business Review Q1 2016
Business Review Q1 2016 Uwe Röhrhoff, CEO
Slide 4: Even better regional diversification – Americas including Centor
Even better regional diversification – Americas including Centor now approaching one third of revenues Q1 2015 revenues by region Q1 2016 revenues by region including Centor Other Other Emerging regions Emerging regions markets 3% markets 2% 16% 13% Europe Europe 35% 31% Total revenues: Total revenu
Slide 5: Review Q1 2016: strong start to the year, as expected
Review Q1 2016: strong start to the year, as expected Key Group figures in EUR m, adj. EPS in EUR Revenues Adjusted EBITDA Organic FXN: +4.4% Q1 2016 FXN: EUR 66.0m +13.4% +29.6% 301.8 342.3 66.0 51.0 19.3% Margin 16.9% Category Q1 2015 Q11 2016 Category Q1 2015 Q11 2016 Adjusted EPS Operating cash
Slide 6: Financial Overview Q1 2016
Financial Overview Q1 2016 Rainer Beaujean, CFO
Slide 7: Q1 2016 revenue increase driven by Centor inclusion and good business performance
Q1 2016 revenue increase driven by Centor inclusion and good business performance in medical systems and converting Revenues by division Q1 2016 Q1 2015 Growth EUR m EUR m in % Total Group 342.3 301.8 +13.4 Plastics & Devices 177.6 137.6 +29.1 Primary Packaging Glass 142.7 146.4 -2.5 Life Science Re
Slide 8: Adjusted EBITDA in Q1 2016: enhanced earnings power from Centor inclusion
Adjusted EBITDA in Q1 2016: enhanced Gerresheimer earnings power from Centor inclusion becomes visible Adjusted EBITDA1 by division Q1 2016 Q1 2015 EUR m Margin in % EUR m Margin in % Total Group 66.0 19.3 51.0 16.9 Plastics & Devices 42.1 23.7 25.5 18.5 Primary Packaging Glass 26.2 18.3 27.9 19.1 L
Slide 9: Q1 2016 EBIT and net income also markedly higher
Q1 2016 EBIT and net income also markedly higher in EUR m Q1 2016 Q1 2015 Change in % Adjusted EBITDA 66.0 51.0 +29.6 Depreciation -21.5 -22.3 - Adjusted EBITA 44.5 28.7 +55.1 Disposal of Glass Tubing business 0.3 -0.3 - Portfolio optimization -1.1 -0.1 - One-off income and expenses1 -0.2 - - Total
Slide 10: New Q1 adjusted EPS record reflects higher earnings base
New Q1 adjusted EPS record reflects higher earnings base Reconciliation from net income to adjusted EPS in EUR m Q1 2016 Q1 2015 Change in % Net income 17.6 12.7 +38.9 Total one-off effects (net of related tax effects) +0.6 +0.3 - Amortization of fair value adjustments (net of related tax effect) +6
Slide 11: Net financial debt slightly up on tax payment, leverage unchanged
Net financial debt slightly up on tax payment, leverage unchanged Comparison of debt/cash positions in EUR m Net financial debt: 894.4 877.5 New debt issue (Schuldschein): fixed/variable interest rates, 425.0 425.0 425.0 425.0 currently between ~1% and ~2%; (maturity in 2020, 2022 and 2025) Bond: Fi
Slide 12: Solid key balance sheet and cash flow figures
Solid key balance sheet and cash flow figures Feb 29, 2016 Nov 30, 2015 Change in % EUR m EUR m Total assets 2,358.8 2,419.9 -2.5 Equity 688.0 698.1 -1.4 Equity ratio 29.2% 28.8% - Net working capital1 229.1 213.7 +7.2 NWC in % of LTM revenues 16.2% 15.5% - average NWC in % of 18.0% 19.0% - LTM reve
Slide 13: Key financial takeaways Q1 2016
Key financial takeaways Q1 2016 Revenues, adjusted EBITDA margin and EPS all markedly up Both P&D and PPG showed mid single-digit organic growth Markedly higher operating cash flow generation including Centor in Q1 Very solid financial structure: leverage remained at 2.9x at the end of the quarter,
Slide 14: Guidance FY 2016
Guidance FY 2016 Uwe Röhrhoff, CEO
Slide 15: Reiteration of Guidance for FY 2016 and indication for FY 2016-2018
Reiteration of Guidance for FY 2016 and reiteration of indication for FY 2016-2018 Guidance FY 2016 Indication FY 2016-2018 Revenues (FXN)1 Approx. EUR 1.5bn (plus/minus EUR 25m) FXN growth1,2 Approx. +9% +4% to +5% CAGR (organic) Organic growth1,3 Approx. +4% to +5% Adjusted EBITDA Approx. EUR 320m
Slide 16: Key takeaways
Key takeaways Very healthy market dynamics support our growth We have stable and highly diversified growth prospects based on long-term megatrends Business is more profitable after our tubing divestment and including Centor – Q1 2016 figures make this more visible We focus on deleveraging while cont
Slide 17: Q&A Session
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Slide 18: Backup
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Slide 19: Development of net working capital
Development of net working capital1 Feb 29, 2016 Feb 28, 2015 EUR m EUR m Inventories 188.3 213.4 thereof prepayments made 3.0 7.9 Trade receivables 221.7 209.9 Trade payables 142.6 112.3 Payments received on account 38.3 47.6 of orders Net working capital 229.1 263.4 in % of LTM revenues 16.2% 20.4
Slide 20: Growth drivers in Plastics & Devices deliver on megatrends
Growth drivers in Plastics & Devices deliver on megatrends Megatrends Time bar for 2014 2015 2016 growth driving initiatives New inhaler contract in New building Setup of clean-room, Start of production Growing trend towards Peachtree, US validation of self-medication plus production increase in acu
Slide 21: Key initiatives for quality and efficiency enhancements in Primary Packaging Glass
Key initiatives for quality and efficiency enhancements in Primary Packaging Glass address megatrends Megatrends Time bar for 2014 2015 2016 quality and efficiency enhancements Increasing regulatory Modernization of Project planning Capacity expansion Full efficiency and requirements Chicago plant a
Slide 22: GXI Key Data
GXI Key Data in EUR per share 2008 2009 2010 2011 2012 2013 2014 2015 EPS 0.02 0.18 1.38 1.61 1.98 1.98 2.11 3.32 Adjusted EPS 1.83 1.34 1.95 2.44 2.62 3.08 2.89 3.41 Cash flow from operations per share 5.26 3.74 5.09 4.13 5.53 4.67 5.04 6.49 Dividend 0.40 --- 0.50 0.60 0.65 0.70 0.75 0.851 Dividend
Slide 23: Financial calendar and contact details
Financial calendar and contact details February 11, 2016 Annual Report Financial Year 2015 R April 13, 2016 Interim Report 1st Quarter 2016 R April 28, 2016 Annual General Meeting 2016 July 7, 2016 Interim Report 2nd Quarter 2016 October 6, 2016 Interim Report 3rd Quarter 2016 Name Investor Relation