Slide 1: Analyst / Investor Conference Call Results Q3 2014
Analyst / Investor Conference Call Results Q3 2014 Uwe Röhrhoff, Chief Executive Officer Rainer Beaujean, Chief Financial Officer October 8, 2014 // 02:00 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 Q3 2014 Uwe Röhrhoff, CEO Financial Overview Q3 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 3
Slide 4: Q3 2014: Key Group figures
Q3 2014: Key Group figures in EUR m, EPS in EUR Revenues adjusted EBITDA FXN: + 3.2% adjusted EBITDA Margin + 2.2% + 0.8% 316.9 323.9 61.6 62.1 19.4% 19.2% Q3 2013 Q3 2014 Q3 2013 Q3 2014 adjusted EPS Net financial debt + 0.0% + 1.0% 455.4 460.0 0.67 0.67 Q3 2013 Q3 2014 Q3 2013 Q3 2014 4
Slide 5: Q3 2014: Operational review
Q3 2014: Operational review Plastics & Devices: Strong organic growth driven by primary packaging and again by tooling business Adjusted EBITDA margin slightly softer because of high tooling business Primary Packaging Glass: Lower revenues resulting from destocking activities and complianc
Slide 6: Agenda
Agenda Review Q3 2014 Uwe Röhrhoff, CEO Financial Overview Q3 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 6
Slide 7: Q3 2014: Revenues by division
Q3 2014: Revenues by division Q3 2014 Q3 2013 Change Change in % at EUR m EUR m in % const. FX1 Total Group 323.9 316.9 +2.2 +3.2 Plastics & Devices 153.7 136.0 +13.0 +14.4 Primary Packaging Glass 151.9 163.0 -6.8 -6.1 Life Science Research 22.7 22.5 0.5 +2.4 1 Currency effects are generally transla
Slide 8: Q3 2014: Adjusted EBITDA and margin by division
Q3 2014: Adjusted EBITDA1 and margin by division Q3 2014 Q3 2013 Margin Margin EUR m in % EUR m in % Total Group 62.1 19.2 61.6 19.4 Plastics & Devices 31.2 20.3 28.9 21.2 Primary Packaging Glass 32.8 21.6 34.6 21.3 Life Science Research 3.1 13.8 2.9 12.8 1 Earnings before income taxes, net finance
Slide 9: Q3 2014: Key balance sheet and cash flow figures
Q3 2014: Key balance sheet and cash flow figures Aug 31, 2014 Aug 31, 2013 Change EUR m EUR m in % Total assets 1,629.8 1,611.8 +1.1 Equity 584.8 531.0 +10.1 Equity ratio in % 35.9 32.9 Net working capital1 264.6 235.3 +12.4 in % of LTM revenues 20.6 18.6 Net financial debt2 460.0 455.4 +1.0 Adj. EB
Slide 10: Long-term financing structure with ample financial leeway
Long-term financing structure with ample financial leeway Debt/cash positions Aug 31, 2014 Aug 31, 2013 Change in EUR m EUR m EUR m in % Bond 300.0 300.0 +0.0 Long-term bank debt 86.6 109.8 -21.1 Revolving bank debt 120.4 98.5 +22.2 Local borrowings and leasing 13.7 15.1 -9.3 Total financial debt 52
Slide 11: Agenda
Agenda Review Q3 2014 Uwe Röhrhoff, CEO Financial Overview Q3 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 11
Slide 12: Further specification of FY 2014 Guidance
Further specification of FY 2014 Guidance1) Revenues App.+4% at const. FX App. EUR 255m to EUR 258m 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 February 11, 2015 Annual Report 2014 April 14, 2015 Interim Report 1st Quarter 2015 April 30, 2015 Annual General Meeting 2015 July 9, 2015 Interim Report 2nd Quarter 2015 October 8, 2015 Interim Report 3rd Quarter 2015 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 Q3 2014 Uwe Röhrhoff, CEO Financial Overview Q3 2014 Rainer Beaujean, CFO Guidance FY 2014 Uwe Röhrhoff, CEO Appendix 15
Slide 16: Q3 2014 P&L overview
Q3 2014 P&L overview Q3 2014 Q3 2013 Change EUR m EUR m in % Revenues 323.9 316.9 +2.2 Adjusted EBITDA1 62.1 61.6 +0.8 One-off income/expense -0.2 -0.1 -100.0 EBITDA 61.9 61.5 +0.7 Amortization of FV adjustments 3.8 4.3 -11.6 Depreciation and amortization 22.3 21.3 +4.7 Profit before interest and ta
Slide 17: Development of working capital
Development of working capital1 Aug 31, 2014 Aug 31, 2013 Nov 30, 2013 EUR m EUR m EUR m Inventories 197.1 202.2 194.5 thereof prepayments made 7.1 19.5 14.0 Trade receivables 208.7 192.7 192.6 Trade payables 99.5 105.4 127.0 Payments received on account of orders 41.7 54.2 58.2 Average net working
Slide 18: Development of inventories
Development of inventories Aug 31, 2014 Aug 31, 2013 Nov 30, 2013 EUR m EUR m EUR m Raw materials, con- sumables and supplies 54.6 51.1 48.8 Work in progress 23.8 24.8 33.1 Finished goods and merchandise 111.6 106.8 98.6 Advance payments on inventories 7.1 19.5 14.0 Inventories 197.1 202.2 194.5 18
Slide 19: Q1-Q3 2014: Revenues by division
Q1-Q3 2014: Revenues by division Q1-Q3 2014 Q1-Q3 2013 Change Change in % at EUR m EUR m in % const. FX1 Total Group 956.8 940.7 +1.7 +4.1 Plastics & Devices 449.5 416.8 +7.8 +11.1 Primary Packaging Glass 455.9 471.0 -3.2 -1.5 Life Science Research 64.7 66.4 -2.6 +0.9 1 Currency effects are generall
Slide 20: Q1-Q3 2014: Adjusted EBITDA and margin by division
Q1-Q3 2014: Adjusted EBITDA1 and margin by division Q1-Q3 2014 Q1-Q3 2013 Margin Margin EUR m in % EUR m in % Total Group 174.8 18.3 167.4 17.8 Plastics & Devices 85.2 19.0 79.7 19.1 Primary Packaging Glass 95.2 20.9 95.0 20.2 Life Science Research 8.6 13.4 8.4 12.6 1 Earnings before income taxes, n
Slide 21: Q1-Q3 2014 P&L overview
Q1-Q3 2014 P&L overview Q1-Q3 2014 Q1-Q3 2013 Change EUR m EUR m in % Revenues 956.8 940.7 +1.7 Adjusted EBITDA1 174.8 167.4 +4.4 One-off income/expense -0.5 -0.3 -66.7 EBITDA 174.3 167.1 +4.3 Amortization of FV adjustments 13.2 13.6 -2.9 Depreciation and amortization 65.8 62.5 +5.3 Profit before in