Slide 1: Analyst / Investor Conference Call Q1 2011 Results
Analyst / Investor Conference Call Q1 2011 Results April 7, 2011 03:00 p.m. CEST Uwe Röhrhoff, CEO Jürgen Wiecha, CFO
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 Q1 2011 and Guidance FY 2011 Uwe Röhrhoff, CEO Financial Overview Q1 2011 Jürgen Wiecha, CFO 3
Slide 4: Good start to the year 2011
Good start to the year 2011 Figures in EUR m, EPS in EUR Revenues adjusted EBITDA +5.2% +9.0% 224.8 236.6 38.3 41.8 Q1 2010 Q1 2011 Q1 2010 Q1 2011 Margin: 17.0% 17.7% adjusted EPS Net Financial Debt -21.0% +36.4% 402.6 0.30 318.2 0.22 Q1 2010 Q1 2011 Feb 28, 2010 Feb 28, 2011 4
Slide 5: Q1 2011: Operational key facts
Q1 2011: Operational key facts Tubular Glass: Temporarily weaker sales of RTF® syringes resulting from meanwhile completed adaptation to changed process parameters and ongoing validations of the RTF® lines Solid growth in ampoules and vials Plastic Systems: All main product categories cont
Slide 6: The acquisition of Vedat more than doubles our revenues in South America
The acquisition of Vedat more than doubles our revenues in South America Current setup Vedat in South America Embu, Sao Paulo, Brazil Buenos Aires Since 2007/8 Argentina 3 plants in Sao Paulo 1 plant in Buenos Aires Plastic Packaging 500 employees Cotia Sao Paulo Main products Founded in
Slide 7: Gerresheimer Plastic Systems – Providing full service in South America
Gerresheimer Plastic Systems – Providing full service in South America The established Gerresheimer Plastic Systems products The expanded portfolio – Vedat‘s additional products 7
Slide 8: Rationale behind Vedat acquisition
Rationale behind Vedat acquisition Leading market position Strong growth opportunities Very profitable company Strong management team Emerging markets Accretive in year one Increased exposure in emerging markets and expanded product portfolio 8
Slide 9: Guidance FY 2011: Inclusion of Vedat
Guidance FY 2011: Inclusion of Vedat FY 2010 Guidance FY 2011 Guidance FY 2011 as reported As of Feb. 10, 2011 As of April 7, 2011 Net revenues EUR 1,024.8m +4% to 5% as reported1 +7% to 8% as reported1 +3% to 4% at const. FX +6% to 7% at const. FX Adj. EBITDA margin 20.0% About 20.0% About 20.0% Ca
Slide 10: Agenda
Agenda Review Q1 2011 and Guidance FY 2011 Uwe Röhrhoff, CEO Financial Overview Q1 2011 Jürgen Wiecha, CFO 10
Slide 11: Q1 2011 P&L overview
Q1 2011 P&L overview Q1 2011 Q1 2010 Change EUR m EUR m in % Total revenues 236.6 224.8 +5.2 Adjusted EBITDA1 41.8 38.3 +9.0 EBITA 21.5 18.6 +15.6 Amortization of FV adjustments 4.7 6.3 -25.4 Profit before interest and taxes (EBIT) 16.8 12.3 +36.6 Financial result -6.9 -8.9 +22.5 Profit before taxes
Slide 12: Q1 2011: Revenues by division
Q1 2011: Revenues by division Q1 2011 Change Change in % at const. EUR m in % FX Total Group 236.6 +5.2 +2.9 Tubular Glass 66.8 -5.8 -8.1 Plastic Systems 72.1 +11.4 +8.8 Moulded Glass 80.3 +10.9 +9.8 Life Science Research 21.3 +4.3 -1.4 12
Slide 13: Q1 2011: Adjusted EBITDA and margin by division
Q1 2011: Adjusted EBITDA1 and margin by division Q1 2011 Q1 2010 Change EUR m in % Margin Margin Total Group 41.8 +9.0 17.7 17.0 Tubular Glass 13.8 -16.8 20.6 23.4 Plastic Systems 14.4 +7.3 20.0 20.7 Moulded Glass 16.1 +36.6 20.1 16.3 Life Science Research 2.2 +24.3 10.4 8.8 1 Earnings before financ
Slide 14: Key financial figures
Key financial figures February 28, 2011 February 28, 2010 Change EUR m EUR m in % Equity 536.7 482.6 +11.2 Equity ratio in % 40.2 35.9 Net Working Capital 1 172.3 175.1 -1.6 in % of LTM revenues 16.6 17.7 Net Financial Debt 2 318.2 402.6 -21.0 Adjusted EBITDA leverage 1.5 2.2 -31.8 Q1 2011 Q1 2010 C
Slide 15: Refinancing started early
Refinancing started early Favorable market environment, recent upgrades of Gerresheimer’s rating by S&P and Moody’s Main goals: Secure long-term financing with favorable conditions Increase flexibility to execute growth strategy New syndicated loan agreement signed 5-year maturity Term
Slide 16: Financial calendar
Financial calendar April 14, 2011 Annual General Meeting July 13, 2011 Interim Report 2nd Quarter 2011 October 6, 2011 Interim Report 3rd Quarter 2011 16
Slide 17: Investor Relations contact details
Investor 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 17
Slide 18: Appendix
GERRESHEIMER
Slide 19: Q1 2011 Reconciliation from adjusted EBITDA to net income
Q1 2011 Reconciliation from adjusted EBITDA to net income Q1 2011 Q1 2010 EUR m EUR m Adjusted EBITDA 41.8 38.3 Restructuring expenses 0.0 0.5 One-off income/expense 0.1 0.0 EBITDA 41.7 37.8 Amortization of fair value adjustments 4.7 6.3 Depreciation 20.2 19.2 Result from operations 16.8 12.3 Financ