Gerresheimer Ag · XETR:GXI
Gerresheimer — Q1 2023 Earnings Presentation
24 slides from Gerresheimer's earnings presentation, Apr 6, 2023
Slide 1: Q1 2023 Results Presentation
Q1 2023 Results Presentation Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Duesseldorf, April 6, 2023
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: Consistent Execution of our Growth Strategy
Consistent Execution of our Growth Strategy Key Priorities in FY 2023 Accelerate — Profitable growth accompanied by acceleration in Adj. EBITDA margin: At least 10% organic growth in both revenues and Adj. EBITDA Execute — Translate strong order intake into profitable growth built on order pipeline;
Slide 4: Strong Start to FY 2023 – as Expected
Strong Start to FY 2023 – as Expected Key Take-Aways Q1 2023 Strong Start: All divisions contributing Q1 demonstrating Revenue growth Adj. EBITDA growth: to double-digit organic margin expansion +21.0% (FXN) +24.8% (FXN) revenue growth – Adj. EPS growth: Guidance confirmed +13.4% (FXN) 4 6-Apr-2023
Slide 5: Double-Digit Organic Revenue & Adj. EBITDA Growth in FY 2023
Key Growth Drivers in FY 2023 Multiple Contributors to our Growth Momentum Double-Digit Organic Revenue & Adj. EBITDA Growth in FY 2023 … Containment Solutions Advanced Growth Drivers Medical Devices High Value Solutions 5 6-Apr-2023 Gerresheimer AG - Q1 2023 Results Presentation
Slide 6: Broad-Based Portfolio Offers Outstanding Growth Opportunities
Broad-Based Portfolio Offers Outstanding Growth Opportunities GLP-1/Obesity: We Bring the Drug to and Into the Patient Full impact of successful strategy implementation Disproportionate growth in GLP-1 Significant large business opportunities offers unique growth opportunities lead to expansion of g
Slide 7: GLP-1: Next Blockbuster of the Pharmaceutical Industry
GLP-1: Next Blockbuster of the Pharmaceutical Industry Experts Highlighting the Relevance and Growth Opportunities Obesity Treatment Market - Disproportionate Growth Expected 7 6-Apr-2023 Gerresheimer AG - Q1 2023 Results Presentation
Slide 8: Medical Devices Business Allows for Disproportionate Growth
Medical Devices Business Allows for Disproportionate Growth Deep Dive – Medical Devices Allows for… Producing in the region for the region Global footprint and supply chain security Being close relation partner of choice Long-term industrialization expertise to our broad customer base Gerresheimer M
Slide 9: We are the Partner of Choice for Medical Devices
We are the Partner of Choice for Medical Devices One-Stop-Partner From the Initial Development over Clinical Trials to Series Production USA Czech Republic Denmark Horšovský Týn Berlin | Chicago Heights | Morganton Haarby | Vaerloese Peachtree City| Perrysburg | Vineland Poland Boleslawiec Germany B
Slide 10: Strategic Partner of Choice for Global Pharma and Biotech Solutions
Strategic Partner of Choice for Global Pharma and Biotech Solutions Containment Solutions as important pillar for implementation of holistic growth strategy Bring the Drug to the Patient Bring the Drug into the Patient Digital Ecosystem Containment Drug Devices & Digital Therapy Solutions Delivery S
Slide 11: Strong Q1 2023
Strong Q1 2023 Dr. Bernd Metzner (CFO)
Slide 12: Profitable Growth: Another Double-Digit Quarter
Profitable Growth: Another Double-Digit Quarter Operational View on KPIs in Q1 2023 organic growth yoy Revenues Adj. EBITDA Adj. EPS (in EUR m) (in EUR m) (in EUR) 21.0% 24.8% 13.4% 78 458 0.71 62 0.63 371 79 453 0.76 63 0.67 375 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Reported Organic (adju
Slide 13: Strong Start: Divisions Delivering Double-Digit Growth
Strong Start: Divisions Delivering Double-Digit Growth Q1 2023: Divisional Performance and Highlights Organic yoy & margin In EUR m Revenues Adj. EBITDA Double-Digit Organic Growth in Top- & Bottom line +20.0% +14.5% 229 47 ▪ Very strong business momentum with 20% organic revenue 40 P&D 186 growth 2
Slide 14: FCF Performance as Expected
FCF Performance as Expected Cash Flow and Financial Debt In EUR m Q1 2023 Q1 2022 Change Comments Adjusted EBITDA 78.0 61.5 16.5 Earnings significantly increased Change in net working capital -91.7 -41.2 -50.5 Net interest paid -5.7 -1.3 -4.4 Net taxes paid -7.4 -5.7 -1.7 Other -22.3 -11.5 -10.8 Cas
Slide 15: Outlook
Outlook Dietmar Siemssen (CEO)
Slide 16: Outlook and Guidance
Outlook and Guidance FY 2023 and Mid-Term Guidance Group level guidance1 focused on three key drivers of shareholder value Revenue Adjusted EBITDA Adjusted EPS ≥ 10% Low ≥ 10% single-digit (Adj. EBITDA FY 2023 growth growth) growth ≥ 10% 23 - 25% ≥ 10% Mid-term growth (Adj. EBITDA growth margin) 1.
Slide 17: Maintain Profitable Growth Momentum
Maintain Profitable Growth Momentum Outlook for Q2 2023 ▪ Continuation of our success story: We are on track to deliver profitable growth in 2023 Q2 ▪ We expect double-digit organic growth in revenues and 2023 Adjusted EBITDA ▪ Adjusted EBITDA margin is expected to improve year-on-year 17 6-Apr-2023
Slide 18: Appendix
Appendix
Slide 19: Financial Calendar
Financial Calendar Annual General Publication 2nd Publication 3rd Meeting 2023 Quarter Results 2023 Quarter Results 2023 June July October 7th, 2023 6th, 2023 5th, 2023 19 6-Apr-2023 Gerresheimer AG - Q1 2023 Results Presentation
Slide 20: Q1 Revenue & Organic Growth Reconciliation
Q1 Revenue & Organic Growth Reconciliation (1 of 2) in EUR m organic growth +21.0% 4.4 457.8 453.4 0.8 0.0 40.1 +21.6% 37.8 374.6 370.8 3.8 +20.0% Revenue Q1 2022 FX Revenue Q1 P&D PPG GAT HQ, Cons. Revenue Q1 FX Revenue Q1 2023 2022 (FXN) 2023 (FXN) 20 6-Apr-2023 Gerresheimer AG - Q1 2023 Results P
Slide 21: Q1 Adj. EBITDA & Organic Growth Reconciliation
Q1 Adj. EBITDA & Organic Growth Reconciliation (2 of 2) in EUR m organic growth & margin +24.8% -0.1 78.6 78.0 -0.8 -0.6 10.6 5.9 +34.5% 63.0 61.5 1.5 +14.5% 16.8% 17.3% Adj. EBITDA FX Adj. EBITDA P&D PPG GAT HQ, Cons. Adj. EBITDA FX Adj. EBITDA Q1 2022 Q1 2022 (FXN) Q1 2023 (FXN) Q1 2023 21 6-Apr-2
Slide 22: Reconciliation Q1 2023
Reconciliation Q1 2023 Reported and Adjusted Financials Q1 2023 Q1 2022 Org. growth YoY1 Comments In EUR m Reported Adjustment Adjusted Adjusted Adjusted Revenues 457.8 457.8 370.8 21.0% EBITDA 74.7 3.3 78.0 61.5 24.8% Depreciation & -43.7 9.6 -34.1 -28.7 Adjusted for fair value amortization Amortiz
Slide 23: Financial Headroom
Financial Headroom Net Financial Debt & Adjusted EBITDA Leverage Net Financial Debt according to credit agreement in force Maturity Profile In EUR m In EUR m 1,154 Net Financial Debt 1,031 Promissory loans (In EUR m)1 3.3 Revolving credit facilities (RCF) 3.2 Adj. EBITDA leverage (x) Feb-23 Feb-22 2
Slide 24: innovating for a better life
innovating for a better life