Gerresheimer Ag · XETR:GXI
Gerresheimer — FY2024 Earnings Presentation
30 slides from Gerresheimer's earnings presentation, Feb 26, 2025
Slide 1: Q4/FY 2024 Results Presentation
Q4/FY 2024 Results Presentation Dietmar Siemssen Dr. Bernd Metzner
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 or
Slide 3: Q4 & FY 2024 Overview
Q4 & FY 2024 Overview Dietmar Siemssen (CEO)
Slide 4: Q4 2024 – Strongest Quarter in Fiscal Year 2024
Q4 2024 – Strongest Quarter in Fiscal Year 2024 Resurgence in Vial demand supports Growth in PPG Organic Growth: − Resurgence in Vial demand supports growth − FDA approval for SQ Revenue growth: Adj. EBITDA growth: in PPG Innovation’s Lasix ONYU +5.4% +6.4% Adj. EPS: − Growth in Systems for − Bormio
Slide 5: FY 2024 – Impacted by Destocking, Growth in Systems for Biologics
FY 2024 – Impacted by Destocking, Growth in Systems for Biologics Strategic Transformation takes Effect Organic Growth: − Results impacted by industry-wide destocking − Start of integration post Revenue growth: Adj. EBITDA growth: with effects moderating Acquisition of Bormioli +2.9% +4.1% Pharma −
Slide 6: Accelerate Execute Innovate
Leveraging Unique Business Opportunities to Drive Long-Term Growth Key Priorities in FY 2024 — Accelerate sustainable, profitable growth by consistently increasing the revenue share of systems & solutions for biologics and injectables Accelerate — Execute on ongoing growth projects and operational e
Slide 7: FY 2024 – Increased Revenue Share of Systems & Solutions for Biologics
FY 2024 – Increased Revenue Share of Systems & Solutions for Biologics Strategic Transformation is taking Effect Targeted, Attractive Growth Projects in Progress and Launched FY23 11,1% FY24 FY 2023 FY 2024 15.2% Expanded Portfolio with Growth Accelerators and Biologics Sales Integrated Systems Miss
Slide 8: FY 2024 – Growth Capex focused on Systems for Biologics
FY 2024 – Growth Capex focused on Systems for Biologics Seizing Unique Opportunities in Systems & Solutions for Biologics Group Capex 1: €345m ~ 70% 2024 Projects for profitable growth were targeted for Biologics Systems e.g.: − Syringe Systems in Querétaro, Biologics Mexico and in Skopje, North Mac
Slide 9: FY 2024 – Driving Innovation in the Industry
FY 2024 – Driving Innovation in the Industry Advancing platform technologies in manufacturing and therapy support EZ-fill Smart Smart Closure Gx Cap Lasix® ONYU On-Body Drug Delivery Device – Based on the Gerresheimer On- – Next generation packaging platform Body drug delivery technology for RTF via
Slide 10: Bormioli Pharma Acquisition – An Important Step in the Transformation
Bormioli Pharma Acquisition – An Important Step in the Transformation Boosting our System and Solution and High Value Product Offering Highly strategic and complementary with our existing portfolio Opening new opportunities for system integration – new integrated high value plastics solutions Creati
Slide 11: Financial Performance Q4 & FY 2024
Financial Performance Q4 & FY 2024 Dr. Bernd Metzner (CFO)
Slide 12: Q4 2024 – Strongest Growing Quarter in Fiscal Year 2024
Q4 2024 – Strongest Growing Quarter in Fiscal Year 2024 Operational View on KPIs in Q4 2024 Revenues Adj. EBITDA Adj. EPS (in EURm) (in EURm) (in EUR) Organic growth yoy: Organic growth yoy: Organic growth yoy: +5.4% +6.4% +6.7% 569 545 127 1,63 119 1,51 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 20
Slide 13: Q4 2024 – Resurgence in Vial Demand
Q4 2024 – Resurgence in Vial Demand Operational View on KPIs in Q4 2024 by Division Organic yoy In EURm & margin Revenues Adj. EBITDA +4.9% -4.9% Solid Growth at healthy Margins 90 85 310 321 ▪ Organic revenue growth of 4.9% driven by strong demand for drug P&D 29.0% 26.3% delivery systems ▪ Organic
Slide 14: Reconciliation Q4 2024 – Adjustments driven by M&A Activity
Reconciliation Q4 2024 – Adjustments driven by M&A Activity Reported and Adjusted Financials Q4 2024 Q4 2023 Org. growth YoY1 In EURm Reported Adjustment Adjusted Adjusted Adjusted Revenues 568.9 568.9 545.2 5.4% EBITDA 112.8 13.9 126.7 119.3 6.4% Depreciation & Amortization -51.2 9.9 -41.3 -37.0 EB
Slide 15: Q4 2024 – Free Cash Flow Development
Q4 2024 – Free Cash Flow Development Cash Flow and Net Financial Debt In EURm Q4 2024 Q4 2023 Adjusted EBITDA 126.7 119.3 Adjustments -13.9 -3.3 EBITDA 112.8 116.0 Change in net working capital 68.8 70.2 Net interest paid -28.8 -23.2 Net taxes paid -16.8 -14.6 Other -2.2 0.9 Cash flow from operating
Slide 16: FY 2024 – Free Cash Flow Development
FY 2024 – Free Cash Flow Development Cash Flow and Net Financial Debt In EURm FY 2024 FY 2023 Adjusted EBITDA 419.4 404.5 Adjustments -27.7 -9.2 EBITDA 391.7 395.3 Change in net working capital -8.8 31.8 Net interest paid -57.5 -44.0 Net taxes paid -47.6 -58.2 Other -37.5 -30.6 Cash flow from operat
Slide 17: Financing
Financing Net Financial Debt & Adjusted EBITDA Leverage Net Financial Debt Maturity Profile (ProForma incl. Bormioli Bridge) in EURm In EURm Q4 2024 Q4 2023 8614 875 Revolving credit facilities1 0 174 Promissory loans 1,208 792 Local borrowings2 13 18 Cash + cash equivalents -186 -122 800 339 Net Fi
Slide 18: Gerresheimer + Bormioli Moulded Glass – Global Powerhouse
Gerresheimer + Bormioli Moulded Glass – Global Powerhouse 2024 Sales Split FY24 MG ProForma Revenue FY24 MG ProForma EBITDA Margin 8 Cosmetics, Pharma ~20% Combined Sites ~€735m F&B in 5 Countries Combined Global Powerhouse in Moulded Glass 1 2 3 Bormioli Deal Integration underway – Strategic review
Slide 19: Outlook
Outlook Dietmar Siemssen (CEO)
Slide 20: Integrate Execute Excel
Leveraging on Unique Business Opportunities to Drive Long-Term Growth Key Priorities in FY 2025 — Integrate Bormioli Pharma to enhance product portfolio and seize opportunities for new integrated high-value solutions Integrate — Execute on our growth projects | Ramp-up of Production | Start of contr
Slide 21: FY 2025 – Capex Outlook including Bormioli
FY 2025 – Capex Outlook including Bormioli Investments into unique Biologics Systems Opportunities and Furnace Overhauls 2025 Growth Projects for Biologics Systems are ~60-65% targeted for e.g.: Biologics − Syringe Systems Gerresheimer Growth Capex in Querétaro, Group Mexico (Ex-MG) − Medical Device
Slide 22: Guidance Gerresheimer Group incl. Bormioli
Guidance Gerresheimer Group incl. Bormioli FY 2025 and Mid-Term Guidance (organic; group level) Revenue Growth Adjusted EBITDA Adj. EPS Previous New1 Previous New1 (excl. Bormioli) (incl. Bormioli) (excl. Bormioli) (incl. Bormioli) Growth 3-5% ~22% HSD% FY 2025 No change Growth Margin Growth2 8 to 1
Slide 23: Appendix
gerresheimer
Slide 24: Financial Calendar
Financial Calendar Publication 3rd Quarter 2025 Results Publication 2nd Quarter 2025 Results Annual General Meeting 2025 Publication 1st Quarter 2025 Results October 10th, 2025 July 10th, 2025 June 5th, 2025 April 11th, 2025 24 26-Feb-2025 Gerresheimer AG - Q4/FY 2024 Results Presentation
Slide 25: Q4 2024 – Revenue & Organic Growth Reconciliation
Q4 2024 – Revenue & Organic Growth Reconciliation in EURm organic growth +5.4% 570.5 0.6 -0.9 568.9 -1.6 14.4 +6.1% 15.2 545.2 -4.0 541.1 +4.9% Revenue Q4 2023 FX Revenue Q4 P&D PPG GAT HQ, Cons. Revenue Q4 FX Revenue Q4 2024 2023 (organic) 2024 (organic) 25 26-Feb-2025 Gerresheimer AG - Q4/FY 2024
Slide 26: FY 2024 – Revenue & Organic Growth Reconciliation
FY 2024 – Revenue & Organic Growth Reconciliation in EURm organic growth +2.9% -24.0 2,035.7 0.3 2,035.9 -2.8 0.6 -2.6% 84.2 1,990.5 -12.9 1,977.6 +8.0% Revenue FY 2023 FX Revenue FY P&D PPG GAT HQ, Cons. Revenue FY FX Revenue FY 2024 2023 (organic) 2024 (organic) 26 26-Feb-2025 Gerresheimer AG - Q4
Slide 27: Q4 2024 – Adj. EBITDA & Organic Growth Reconciliation
Q4 2024 – Adj. EBITDA & Organic Growth Reconciliation in EURm organic growth 6.4% margin 2.9 -4.3 0.5 126.7 126.2 22.1% 119.3 -0.7 13.4 118.6 -4.4 21.9% -4.9% +30.6% Adj. EBITDA FX Adj. EBITDA Q4 P&D PPG GAT HQ, Cons. Adj. EBITDA Q4 FX Adj. EBITDA Q4 2023 2023 (organic) 2024 (organic) Q4 2024 27 26-
Slide 28: FY 2024 – Adj. EBITDA & Organic Growth Reconciliation
FY 2024 – Adj. EBITDA & Organic Growth Reconciliation in EURm organic growth margin +4.1% -4.5 -0.3 419.1 0.3 419.4 -2.4 -2.4% 23.7 20.6% 404.5 -1.9 402.6 20.4% +8.8% Adj. EBITDA FX Adj. EBITDA FY P&D PPG GAT HQ, Cons. Adj. EBITDA FY FX Adj. EBITDA FY 2023 2023 (organic) 2024 (organic) FY 2024 28 26
Slide 29: Reconciliation FY 2024 – Adjustments driven by M&A Activity
Reconciliation FY 2024 – Adjustments driven by M&A Activity Reported and Adjusted Financials FY 2024 FY 2023 Org. growth YoY1 In EURm Reported Adjustment Adjusted Adjusted Adjusted Revenues 2,035.9 2,035.9 1,990.5 2.9% EBITDA 391.7 27.7 419.4 404.5 4.1% Depreciation & Amortization -194.2 38.5 -155.7
Slide 30: innovating for a better life
innovating for a better life