Gerresheimer Ag · XETR:GXI
Gerresheimer — Q3 2022 Earnings Presentation
29 slides from Gerresheimer's earnings presentation, Oct 12, 2022
Slide 1: Q3 2022 Results Presentation
Q3 2022 Results Presentation Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Duesseldorf, October 12th, 2022
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: Stable Through the Storm – Another Double-Digit Growth Quarter
Stable Through the Storm – Another Double-Digit Growth Quarter CEO Dietmar Siemssen
Slide 4: Transforming Gerresheimer into a growth company
Transforming Gerresheimer into a growth company as innovation leader, solution provider and system integrator. 201 5
Slide 5: Delivering Another Double-Digit Quarter
Delivering Another Double-Digit Quarter Strong Momentum Continues – On Track for FY 2022 Guidance Double-Digit Growth: High Value Solutions Challenging market Revenue growth Adj. EBITDA growth: +21.7% environment successfully managed +17.4% (FXN) +13.3% (FXN) Consistent execution Adj. EPS: of growth
Slide 6: Well-Positioned in Challenging Times
Well-Positioned in Challenging Times Comments on Current Energy Supply Situation Long-term supply German Federal government agreements in place stabilizes energy markets Diversified and long-term supply German government sets up protective agreements provide unique shield for German energy market –
Slide 7: Double-Digit Organic Revenue Growth in FY 2022
Continuously Rolling-out Our formula G Strategy Multiple Contributors to Growth: We are Delivering Double-Digit Organic Revenue Growth in FY 2022 High Value Capacity & Contract Beauty goes Solutions Regional Manufacturing Health Expansion 7 10/12/2022 Q3 2022 Earnings Presentation
Slide 8: Boosting Injectables & High Value Solutions in the US
Boosting Injectables & High Value Solutions in the US Examples for Capacity and Regional Expansion in Tubular Glass 1/2 Investing up to 94 million USD in US production facility – supported by U.S. Biomedical Advanced Research and Development Authority (BARDA) BARDA has agreed to provide up to ~66 mi
Slide 9: Accelerating the Conversion From Bulk to RTF Vials
Accelerating the Conversion From Bulk to RTF Vials Examples for Capacity and Regional Expansion in Tubular Glass 2/2 Gerresheimer and Stevanato joining forces in the development of an enhanced Ready-To-Fill solution platform. Total cost of ownership Quality improvement advantage Risk of vial breakag
Slide 10: Financials
Financials CFO Dr. Bernd Metzner
Slide 11: Profitable Growth: Another Double-Digit Quarter
Profitable Growth: Another Double-Digit Quarter Operational View on KPIs organic growth yoy Revenues Adj. EBITDA Adj. EPS (in EUR m) (in EUR m) (in EUR) 17.4% 13.3% 10.1% 473 91 1.15 75 382 0.97 447 85 75 0.99 1.09 381 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Reported Organic (adjusted for ex
Slide 12: Consistently Proving Strong Pricing Power
Consistently Proving Strong Pricing Power Q3 2022 Revenue Growth Reconciliation Focus on Q3 2022: Focus 9M 2022: ~17% 16-17% ~1% ~2% ~7% ~6% ~9% ~9% Q3 2022 Contractual Sustainable Q3 2022 9M 2022 Contractual Sustainable 9M 2022 org. revenue pass-through price increases revenue growth org. revenue p
Slide 13: Strong Divisional Performance in Q3 2022
Strong Divisional Performance in Q3 2022 Q3 2022: Divisional Performance and Highlights Organic yoy & margin In EUR m Revenues Adj. EBITDA Double-Digit Organic Growth +11.3% 9.3% 244 — Strong growth based on volume, price and pass-through 208 59 51 — Double digit growth in revenues and earnings in P
Slide 14: Solid FCF Performance While Maintaining Investment
Solid FCF Performance While Maintaining Investment Cash Flow and Financial Debt Q3 2022 Q3 2021 Change In EUR m Comments Adjusted EBITDA 90.5 74.8 15.7 Earnings significantly increased Higher NWC due to strong topline growth as well as Change in net working capital -4.7 23.8 -28.5 safety stock Net i
Slide 15: Outlook
Outlook CEO Dietmar Siemssen
Slide 16: Transforming Gerresheimer into a growth company
Transforming Gerresheimer into a growth company as innovation leader, solution provider and system integrator. 2022 201 5
Slide 17: Guidance Confirmed
Guidance Confirmed Well Positioned to Deliver on FY 2022 and Mid-Term Guidance Group level guidance (FXN) focused on three key drivers of shareholder value Adj. EBITDA / Revenue1 Adj. EPS Margin High High FY 2022 > 10% single-digit single-digit growth growth High Mid-term 23-25% single-digit (margin
Slide 18: Save the date: Capital Markets Day
Capital Markets Day Save the date: December 6th, 2022 – Virtual Capital Markets Day Focus on: ▪ Strategy Update ▪ Growth Opportunities and Investment Programe ▪ Outlook and Guidance
Slide 19: Appendix
Appendix 19 10/12/2022 Q3 2022 Earnings Presentation
Slide 20: Financial Calendar
Financial Calendar Capital Markets Day Publication Financial Publication 1st 2022 Year 2022 Results Quarter Results 2023 December February April 6th, 2022 23rd, 2023 6th, 2023 20 10/12/2022 Q3 2022 Earnings Presentation
Slide 21: Q3 Revenue & Organic Growth Reconciliation
Q3 Revenue & Organic Growth Reconciliation (1 of 4) in EUR m organic growth 25.9 473.0 +17.4% 447.1 2.4 -2.0 42.5 23.4 382.0 380.8 -1.2 +24.5% +11.3% Revenue FX Revenue Q3 P&D PPG GAT HQ, Cons. Revenue Q3 FX Revenue Q3 2021 2021 (FXN) 2022 (FXN) Q3 2022 21 10/12/2022 Q3 2022 Earnings Presentation
Slide 22: Q3 Adj. EBITDA & Organic Growth Reconciliation
Q3 Adj. EBITDA & Organic Growth Reconciliation (2 of 4) in EUR m organic growth & margin 5.5 90.5 +13.3% -0.5 85.0 -0.8 6.7 4.7 74.8 75.0 0.2 +18.9% +9.3% +19.7% +19.0% Adj. EBITDA FX Adj. P&D PPG GAT HQ, Cons. Adj. FX Adj. EBITDA Q3 2021 EBITDA Q3 EBITDA Q3 Q3 2022 2021 (FXN) 2022 (FXN) 22 10/12/20
Slide 23: 9M Revenue & Organic Growth Reconciliation
9M Revenue & Organic Growth Reconciliation (3 of 4) in EUR m organic growth 51.3 1,288.4 +16.3% 1,237.1 3.9 -4.7 108.4 66.0 1,061.9 1,063.4 1.5 +21.9% +11.7% Revenue FX Revenue 9M P&D PPG GAT HQ, Cons. Revenue 9M FX Revenue 9M 2021 2021 (FXN) 2022 (FXN) 9M 2022 23 10/12/2022 Q3 2022 Earnings Present
Slide 24: 9M Adj. EBITDA & Organic Growth Reconciliation
9M Adj. EBITDA & Organic Growth Reconciliation (4 of 4) in EUR m organic growth & margin 9.8 242.1 +9.4% 2.2 -2.8 232.3 12.9 7.7 212.3 210.9 1.4 +12.8% +5.6% +20.0% +18.8% Adj. EBITDA FX Adj. P&D PPG GAT HQ, Cons. Adj. FX Adj. EBITDA 9M 2021 EBITDA 9M EBITDA 9M 9M 2022 2021 (FXN) 2022 (FXN) 24 10/12
Slide 25: Strong Investments Into Profitable Growth
Strong Investments Into Profitable Growth Cash Flow and Financial Debt 9M 2022 9M 2021 Change In EUR m Comments Adjusted EBITDA 242.1 210.9 31.2 Earnings significantly increased Higher NWC due to strong topline growth as well as Change in net working capital -96.1 -54.3 -41.8 safety stock Net intere
Slide 26: Reconciliation Q3 2022
Reconciliation Q3 2022 Reported and Adjusted Financials Q3 2022 Org. Q3 2021 growth Comments Adjust- YoY1 In EUR m Reported Adjusted Adjusted ment Adjusted Revenues 473.0 473.0 382.0 17.4% EBITDA 86.5 4.0 90.5 74.8 13.3% Depreciation & -40.2 10.1 -30.1 -26.0 Adjusted for fair value amortization Amor
Slide 27: Reconciliation 9M 2022
Reconciliation 9M 2022 Reported and Adjusted Financials 9M 2022 Org. 9M 2021 growth Comments Adjust- YoY1 In EUR m Reported Adjusted Adjusted ment Adjusted Revenues 1,288.4 1,288.4 1,061.9 16.3% EBITDA 232.6 9.5 242.1 210.9 9.4% Depreciation & -117.6 29.4 -88.1 -73.9 Adjusted for fair value amortiza
Slide 28: Successful Refinancing of Promissory Loans
Successful Refinancing of Promissory Loans Structured Two-Step-Approach Now Implemented Maturity Profile Promissory loans of EUR 306m In EUR m successfully refinanced in a two-step 551 approach: Promissory loans RCF ▪ (1) Issuance of promissory loans of 150m EUR in total in November 2021 306 338 476
Slide 29: serresheimer
serresheimer innovating for a better life