Slide 1: FY 2014 Results Presentation
FY 2014 Results Presentation Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, February 11, 2015
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: Review FY 2014
Review FY 2014 Uwe Röhrhoff, CEO
Slide 4: With our global setup we deliver on megatrends in pharma & healthcare
With our global setup we deliver on megatrends in pharma & healthcare Generics/ New drug Emerging markets development Others 3% Emerging markets Germany 17% 24% Revenues 2014 EUR 1,290m The Americas 20% Europe 36% Regulation/ Chronic diseases/ Quality Self-medication 2015/2/11 FY 2014 Results Presen
Slide 5: FY 2014 targets fully achieved
FY 2014 targets fully achieved Guidance FY 2014 Results FY 2014 Revenues About +4% +3.7% (organic growth)1 Adjusted EBITDA EUR 258.5m EUR 255m to EUR 258m (at const. FX)2 Ex Triveni3: EUR 256.1m Capex 9% to 10% of revenues 9.8% of revenues (at const. FX)2 1. Organic growth: At const. FX rate, exclud
Slide 6: Favorable development of key Group metrics again in FY 2014
Favorable development of key Group metrics again in FY 2014 Key Group figures in EUR m, EPS and dividend in EUR Revenues Adjusted EBITDA Organic FXN: +3.7% FY 2014 FXN: EUR 258.5m +1.9% +1.4% 1,265.9 1,290.0 249.8 253.4 Margin 19.7% 19.6% Category FY 2013 FY1 2014 Category FY 2013 FY1 2014 EPS Divid
Slide 7: Financial overview FY 2014
Financial overview FY 2014 Rainer Beaujean, CFO
Slide 8: FY 2014 revenues driven by strong growth in Plastics & Devices
FY 2014 revenues driven by strong growth in Plastics & Devices Revenues by division FY 2014 FY 2013 Growth Organic EUR m EUR m in % growth1 in % Total Group 1,290.0 1,265.9 +1.9 +3.7 Plastics & Devices 598.8 561.6 +6.6 +10.1 Primary Packaging Glass 622.2 635.4 -2.1 -1.5 Life Science Research 87.3 86
Slide 9: Adjusted EBITDA margin ex Triveni on the rise
Adjusted EBITDA margin ex Triveni on the rise Adjusted EBITDA1 by division FY 2014 FY 2013 EUR m Margin in % EUR m Margin in % Total Group 253.4 19.6 249.8 19.7 Total Group ex Triveni2 251.0 19.5 242.3 19.1 Plastics & Devices 126.1 21.1 120.8 21.5 Plastics & Devices 123.7 20.7 113.3 20.2 ex Triveni2
Slide 10: FY 2014 P&L overview shows bottom line improvement
FY 2014 P&L overview shows bottom line improvement FY 2014 Margin FY 2013 Margin EUR m in % EUR m in % Adjusted EBITDA1 253.4 19.6 249.8 19.7 Depreciation/amortization -105.0 -102.7 Restructuring/one-offs -5.9 -8.6 Portfolio optimization -12.6 -5.6 EBIT 129.9 10.1 132.9 10.5 Other operating income (
Slide 11: We are speeding up our technical innovation cycle
We are speeding up our technical innovation cycle Capex in EUR m Nov 30, 2013 Nov 30, 2014 119.1 126.6 2.1 LSR 0.9 60.4 62.4 Primary Packaging Glass 55.8 63.5 Plastics & Devices 9.4% 9.8% in % of revenues 2015/2/11 FY 2014 Results Presentation 11
Slide 12: Strong set-up of key balance sheet and cash flow figures
Strong set-up of key balance sheet and cash flow figures Nov 30, 2014 Nov 30, 2013 Change EUR m EUR m in % Total assets 1,655.9 1,615.8 +2.5 Equity 604.4 563.4 +7.3 Equity ratio 36.5% 34.9% - Net working capital1 233.1 201.9 +15.4 average NWC in % of 19.0% 18.7% - LTM revenues FY 2014 FY 2013 Change
Slide 13: Long-term financing structure with ample financial leeway
Long-term financing structure with ample financial leeway Comparison of debt/cash positions in EUR m Net financial debt 416.6 423.8 Interest rate (due date): Fixed coupon at 5.0% Bond 300.0 300.0 (2018) Interest rate hedged Long-term bank debt 106.7 91.4 at 3.26% (2016) Revolving bank debt 68.8 86.0
Slide 14: Key financial takeaways FY 2014: strong setup in place
Key financial takeaways FY 2014: strong setup in place Increasing operating profitability Adjusted EBITDA margin1 rose to 19.5% (2013: 19.1%) EBIT1 progressed by 1.7% to EUR 127.5m (2013: EUR 125.4m) EPS increased by 6.6% to EUR 2.11 despite higher one-offs (2013: EUR 1.98) 4th consecutive dividend
Slide 15: Key initiatives and guidance FY 2015
Key initiatives and guidance FY 2015 Uwe Röhrhoff, CEO
Slide 16: 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 17: 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 18: Guidance FY 2015 confirms initial indication; mid-term outlook FY 2016-2018 re-iterated
Guidance FY 2015 confirms initial indication for the year; mid-term outlook FY 2016-2018 re-iterated Guidance FY 2015 Outlook FY 2016-2018 Revenues +1% to +3%; equals approx. +4% to +6% CAGR (organic growth)1 EUR 1,300m to EUR 1,330m Adjusted EBITDA EUR 255m to EUR 265m Uplift towards 21% adjusted (
Slide 19: Key takeaways
Key takeaways Clear corporate strategy based on long-term megatrends Financial strength to invest and globalize our Company Strong focus on growth and profitability 2015/2/11 FY 2014 Results Presentation 19
Slide 20: Questions & Answers
Questions & Answers
Slide 21: Financial calendar
Financial calendar 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 2015/2/11 FY 2014 Results Presentation 21
Slide 22: Investor Relations & Creditor Relations contact details
Investor Relations & Creditor Relations contact details Name Investor Relations & Creditor Relations Phone +49 211 6181 257 Fax +49 211 6181 121 E-mail Gerresheimer.ir@gerresheimer.com IR website www.gerresheimer.com/ir 2015/2/11 FY 2014 Results Presentation 22
Slide 23: Our Vision
Our Vision Gerresheimer will become the leading global partner for enabling solutions that improve health and well-being. Our success is driven by the passion of our people.
Slide 24: Backup
GERRESHEIMER Backup
Slide 25: Q4 2014: Revenues by division
Q4 2014: Revenues by division Q4 2014 Q4 2013 Growth Organic growth EUR m EUR m in % in %1 Total Group 333.2 325.2 +2.5 +1.5 Plastics & Devices 149.3 144.8 +3.1 +4.8 Primary Packaging Glass 166.3 164.4 +1.2 -1.5 Life Science Research 22.6 20.4 +10.8 +4.4 1. Organic growth: At const. FX rate, excludi
Slide 26: Q4 2014: Adjusted EBITDA and margin by division
Q4 2014: Adjusted EBITDA1 and margin by division Q4 2014 Q4 2013 EUR m Margin in % EUR m Margin in % Total Group 78.6 23.6 82.4 25.3 Total Group ex Triveni2 76.2 22.9 74.9 23.0 Plastics & Devices 40.9 27.4 41.1 28.4 Plastics & Devices ex 38.5 25.8 33.6 23.2 Triveni2 Primary Packaging Glass 38.8 23.3
Slide 27: Development of net working capital
Development of net working capital1 Nov 30, 2014 Nov 30, 2013 EUR m EUR m Inventories 193.7 194.5 thereof prepayments made 7.8 14.0 Trade receivables 208.5 192.6 Trade payables 125.5 127.0 Payments received on account 43.6 58.2 of orders Net working capital 233.1 201.9 in % of LTM revenues 18.1% 15.
Slide 28: Development of inventories
Development of inventories Nov 30, 2014 Nov 30, 2013 EUR m EUR m Raw materials, consumables 50.5 48.8 and supplies Work in progress 23.2 33.1 Finished goods and 112.2 98.6 merchandise Prepayments made on 7.8 14.0 inventories Inventories 193.7 194.5 2015/2/11 FY 2014 Results Presentation 28