Gerresheimer Ag · XETR:GXI
Gerresheimer — FY2020 Earnings Presentation
32 slides from Gerresheimer's earnings presentation, Feb 18, 2021
Slide 1: FY 2020 Earnings Presentation
FY 2020 Earnings Presentation Dietmar Siemssen, CEO Bernd Metzner, CFO Duesseldorf, February 18, 2021
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 − Transformation in Full Swing − Financial Update − Growth Outlook 3 18/02/2021 FY 2020 Earnings Presentation
Slide 4: Transformation in Full Swing
Transformation in Full Swing CEO Dietmar Siemssen
Slide 5: Gerresheimer is on Growth Track
Gerresheimer is on Growth Track Key Take-Aways FY 2020 − FY 2020 guidance reached regardless Covid-19: − Q4 strongest quarter in Gerresheimer’s history − Mid-single digit organic revenue growth: +3.8% (core1), +2.6% (group) − Adj. EBITDA margin: 21.9% − Net capex: 11.1% − Dividend proposal: EUR 1.25
Slide 6: Transformation in Full Swing
Transformation in Full Swing Important Milestones Achieved in Globally Challenging Environment Priorities set for FY 2020: What we achieved: All production up and running – Guarantee Business Continuity reliable production output despite global pandemic Sticked to the guidance and Deliver according
Slide 7: Transforming our Gerresheimer into a growth company
7 Transforming our Gerresheimer into a growth company as innovation leader and solution provider
Slide 8: Healthcare is Now More Important Than Ever Before
Healthcare is Now More Important Than Ever Before We Anticipate Global Mega Trends and Catch the Waves Emerging Increase in Urban population Markets: chronic diseases and growing upper Increasing health and aging classes care access population More self- Increasing medication and Focus on importance
Slide 9: Strong Vision: Developed for 2028
Strong Vision: Developed for 2028 Ambitious Goals in Five Strategic Directions Defined Vision 2028: Leading in Health and Well-Being Delivery Solutions 2019 9 18/02/2021 FY 2020 Earnings Presentation
Slide 10: Serving our Global Customers
China Serving our Global Customers Upgrade regional leadership team Global Expansion: Increase Footprint and Market Penetration North Tubular Glass: pipettes and Macedonia preparation for high value vials Skopje: new Plastic Packaging: plant for growth in regulated medical OTC plastics market device
Slide 11: Connect Competence Centers to a Global Network
Connect Competence Centers to a Global Network Groupwide Technology Centers New 2019/2020 Further center Syringes Center Innovation Center planned in Lohr of Excellence Technical Competence Smart Devices / Buende, Germany Center/Medical Systems Micro Pumps Wackersdorf, Germany Olten, Switzerland Tec
Slide 12: Innovative Solutions Driving Future Growth
Innovative Solutions Driving Future Growth Our Innovation is Based on Two Strategic Pillars Moving up the Short & mid- value chain term growth in non-digital RTF Products Safety Syringes potential products Gx GX® ELITE Biological Glass Preservative free Solutions Innovation Eyedroppers Becoming smar
Slide 13: Accelerating Growth And Outperforming Markets
Accelerating Growth And Outperforming Markets Definition of 2021 Accelerators for Mid-Single Digit Revenue Growth Revenue 2020 High Value Solutions Investments into innovation paying-off Underlying Underlying market market growth mature markets Regional expansion in emerging emergingmarkets markets
Slide 14: Financial Update
Financial Update CFO Dr. Bernd Metzner
Slide 15: Q4 2020: Strong Organic Performance
Q4 2020: Strong Organic Performance Operational View In EUR m Q4 2020 Q4 2019 YoY Analysis Revenues 402.8 368.6 +13.2%1) Strong organic growth of +7.3% in the core business Adj. EBITDA 99.9 81.6 +26.0%1) Strong organic growth of +6.5% in the core business Adj. EBITDA margin 24.8% 22.1% One-off effec
Slide 16: Outstanding Performance of all Divisions
Outstanding Performance of all Divisions Q4 2020: Divisional Performance and Highlights X% Organic growth yoy In EUR m 219.2 Guidance: Mid to high-single +6.0% 73.0 digit growth +5.6% 216.3 — Strong revenue growth with significant contribution P&D 69.9 from MPS and syringes both with double digit or
Slide 17: Very Strong Free Cash Flow
Very Strong Free Cash Flow Cash Flow in Q4 2020 In EUR m Q4 2020 Q4 2019 Change Analysis Adj. EBITDA 99.9 81.6 +18.3 Driven by strong business Q4 2020: Sustainable working capital Change in net working capital 44.8 84.0 -39.2 management Net capex -64.6 -75.3 +10.7 Q4 2020: Projects progress as plann
Slide 18: We Achieved our Unchanged Ambitious Guidance
We Achieved our Unchanged Ambitious Guidance Key Performance Indicators FY 2020 vs. FY 2019 FY 2020 FY 2019 In EUR m Analysis actual underlying YoY Organic growth of +2.6% in the group and Revenues 1,418.8 1,406.51) +0.9% +3.8% in the core business Organic growth of +1.7% in the group and Adj. EBITD
Slide 19: Financial Leverage Decreasing
Financial Leverage Decreasing Net Financial Debt & Adjusted EBITDA Leverage 1000 981 923 3,6 NET FINANCIAL DEBT AND LEVERAGE 950 3,4 Net Financial Debt (EUR m)1) 3.2x 900 3,2 Adj. EBITDA Leverage (x) 3.0x 850 3,0 800 2,8 Aug 20 Nov 20 Net financial debt according to credit agreement in force Maturit
Slide 20: Transformation kicks in
Transformation kicks in Financial Highlights 2020 − Robustness of our business confirmed: high forecast accuracy demonstrated − Successful bridge financing in challenging market environment − Promissory loans successfully closed with high oversubscription − Strong cash flow development − Capital Mar
Slide 21: Growth Outlook
Growth Outlook CEO Dietmar Siemssen
Slide 22: Set Ambitious Targets and Achieve Them
Set Ambitious Targets and Achieve Them Growth Acceleration in the Mid-Term …to high single digit CAGR from mid single… CAGR + 2% 2022 2019 2015 The transformation is ongoing 22 18/02/2021 FY 2020 Earnings Presentation
Slide 23: Delivery is Key
Delivery is Key Focus for 2021 Deliver according to plan Fill the pipeline – accelerate on high value solutions Keep dynamic and momentum - drive growth to the next level 23 18/02/2021 FY 2020 Earnings Presentation
Slide 24: Profitable Growth Accelerating
Profitable Growth Accelerating Guidance for FY 2021 and Mid-Term For Core Business1) (FXN) FY 2021 Mid-term Accelerate Mid-single High-single Revenue growth digit growth digit growth Further expand ~ 22 to 23% ~ 23% Adj. EBITDA margin Drive Adj. EPS growth ≥ 10% p.a. and shareholder value 1) The cor
Slide 25: Appendix
Appendix 25 18/02/2021 FY 2020 Earnings Presentation
Slide 26: Adjustments in FY 2019
Adjustments in FY 2019 In EUR m FY 2019 FY 2019 Adjustment Adjustments Regular FY 2019 actual for Sensile Buenos Aires adjustments underlying Revenues 1,392.3 17.3 -3.1 0.0 1,406.5 Adj. EBITDA 400.0 -103.3 0.0 0.0 296.7 One-off effects -6.3 0.0 0.0 6.3 0.0 EBITDA 393.7 -103.3 0.0 6.3 296.7 Depreciat
Slide 27: YoY Revenue & Organic Growth Reconciliation
YoY Revenue & Organic Growth Reconciliation Q4 2020 vs. Q4 2019 (in EUR m) organic growth rate +13.2% 414.4 -0.4 402.8 20.6 -11.5 15.2 368.6 367.1 366.2 12.8 1.5 0.9 +6.0% +9.1% Gx Group Q4 2019 FX Q4 2019 Normal. Q4 2019 P&D PPG GAT HQ, Cons. Q4 2020 FX Q4 2020 (FXN) (FXN) adj. (FXN) +7.3% 410.2 15
Slide 28: YoY Adj. EBITDA & Organic Growth Reconciliation
YoY Adj. EBITDA & Organic Growth Reconciliation Q4 2020 vs. Q4 2019 (in EUR m) organic growth rate +26.0% 99.5 1.9 101.4 99.9 0.0 -1.5 14.0 81.6 81.2 2.5 0.3 79.1 3.9 2.1 +5.6% +7.2% Gx Group Q4 2019 FX Q4 2019 Normal. Q4 P&D PPG GAT HQ, Q4 IFRS16 Q4 2020 FX Q4 2020 (FXN) 2019 Cons. 2020 (FXN) (FXN)
Slide 29: YoY Revenue & Organic Growth Reconciliation
YoY Revenue & Organic Growth Reconciliation FY 2020 vs. FY 2019 (in EUR m) organic growth rate +2.6% 16.8 -14.1 1,441.0 -2.4 1,418.8 1,405.0 35.7 1,392.3 1,390.5 -22.2 1.8 14.5 +4.7% +2.7% Gx Group FY 2019 FX FY 2019 Normal. FY 2019 P&D PPG GAT HQ, Cons. FY 2020 FX FY 2020 (FXN) (FXN) adj. (FXN) +3.
Slide 30: YoY Adj. EBITDA & Organic Growth Reconciliation
YoY Adj. EBITDA & Organic Growth Reconciliation FY 2020 vs. FY 2019 (in EUR m) organic growth rate 400.0 400.1 0.1 +1.7% 103.4 301.6 9.3 310.9 310.1 296.7 10.2 18.2 13.5 0.6 -0.8 +6.9% +8.3% Gx Group FY 2019 FX FY 2019 Normal. FY P&D PPG GAT HQ, FY IFRS16 FY 2020 FX FY 2020 (FXN) 2019 Cons. 2020 (FX
Slide 31: Financial Calendar
Financial Calendar FINANCIAL CALENDAR April 8, 2021 Publication 1st Quarter Results 2021 June 9, 2021 Annual General Meeting 2021 July 13, 2021 Interim Report 2nd Quarter Results 2021 October 12, 2021 Publication 3rd Quarter Results 2021 31 18/02/2021 FY 2020 Earnings Presentation
Slide 32: serresheimer
serresheimer innovating for a better life