Slide 1: Analyst / Investor Conference Call Q2 2011 Results
Analyst / Investor Conference Call Q2 2011 Results July 13, 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 Q2 2011 and Guidance FY 2011 Uwe Röhrhoff, CEO Financial Overview Q2 2011 Jürgen Wiecha, CFO Appendix 3
Slide 4: Q2 2011: Strong quarter despite some headwinds
Q2 2011: Strong quarter despite some headwinds Key group figures in EUR m, EPS in EUR Revenues adjusted EBITDA adjusted EBITDA Margin + 5.9% unchanged 20.9% 19.8% adjusted EPS Net Financial Debt + 16.9% - 1.0% 4
Slide 5: Q2 2011: Operational key facts
Q2 2011: Operational key facts Tubular Glass: Technical changes and revalidations of the RTF® lines successfully completed Furnace overhaul completed as scheduled Plastic Systems: Strong growth across all product categories Integration of Vedat successfully started Growing MPS unit: Do
Slide 6: Confirmation of Guidance 2011
Confirmation of Guidance 2011 FY 2010 Guidance FY 2011 Confirmed Guidance as reported1 (as of Feb. 10, 2011) 2011 (as of July 13, 2011) Net revenues EUR 1,024.8m +3% to 4% at const. FX +6% to 7%2 at const. FX Adj. EBITDA margin 20.0% About 20.0% About 20.0% Capex EUR 73.2m About EUR 80m About EUR 80
Slide 7: Agenda
Agenda Review Q2 2011 and Guidance FY 2011 Uwe Röhrhoff, CEO Financial Overview Q2 2011 Jürgen Wiecha, CFO Appendix 7
Slide 8: P&L: Strong operational performance drives adjusted EPS
P&L: Strong operational performance drives adjusted EPS Q2 2011 Q2 2010 Change EUR m EUR m in % Total revenues 284.5 268.8 +5.9 Adjusted EBITDA1 56.3 56.3 unchanged EBITDA 55.0 52.7 +4.4 Depreciation and amortization of FV adjustments 24.6 27.9 -11.8 Profit before interest and taxes (EBIT) 30.4 24.8
Slide 9: Q2 2011: Revenues by division
Q2 2011: Revenues by division Q2 2011 Change Change in % at const. EUR m in % FX Total Group 284.5 +5.9 +7.6 Tubular Glass 81.8 -5.0 -1.7 Plastic Systems 98.0 +20.1 +19.0 Moulded Glass 85.2 +4.7 +6.4 Life Science Research 23.4 -0.7 +7.0 9
Slide 10: Q2 2011: Adjusted EBITDA and margin by division
Q2 2011: Adjusted EBITDA1 and margin by division Q2 2011 Q2 2010 Change EUR m in % Margin Margin Total Group 56.3 unchanged 19.8 20.9 Tubular Glass 16.9 -20.7 20.7 24.9 Plastic Systems 23.5 +15.2 23.9 25.0 Moulded Glass 18.1 +10.2 21.2 20.2 Life Science Research 3.0 +13.0 12.7 11.0 1 Earnings before
Slide 11: Key financial figures
Key financial figures May 31, 2011 May 31, 2010 Change EUR m EUR m in % Equity 536.5 493.4 +8.7 Equity ratio in % 36.4 36.0 Net Working Capital1 171.6 202.3 -15.2 in % of LTM revenues 16.3 20.4 Net Financial Debt2 404.6 408.7 -1.0 Adj. EBITDA Leverage 1.9 2.1 -9.5 Q2 2011 Q2 2010 Change EUR m EUR m
Slide 12: Successful refinancing increases financial leeway
Successful refinancing increases financial leeway Annual comparison of debt/cash positions in EUR m 404.6 Net Financial Debt: 408.7 Interest rate (due date): Bond 126.0 300.0 5.0%; Fixed coupon (2018) Long-term bank debt 235.0 Interest rate hedged at 3.26% 144.3 p.a. (2016) Revolving bank debt 32.8
Slide 13: Financial calendar
Financial calendar October 6, 2011 Interim Report 3rd Quarter 2011 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 Q2 2011 and Guidance FY 2011 Uwe Röhrhoff, CEO Financial Overview Q2 2011 Jürgen Wiecha, CFO Appendix 15
Slide 16: Q2 2011 Reconciliation from adjusted EBITDA to net income
Q2 2011 Reconciliation from adjusted EBITDA to net income Q2 2011 Q2 2010 EUR m EUR m Adjusted EBITDA 56.3 56.3 Restructuring expenses 0.0 3.1 One-off income/expense 1.3 0.5 EBITDA 55.0 52.7 Amortization of fair value adjustments 4.7 6.5 Depreciation 19.9 21.4 Result from operations 30.4 24.8 Financ
Slide 17: Q1-Q2 2011 P&L overview
Q1-Q2 2011 P&L overview Q1-Q2 2011 Q1-Q2 2010 Change EUR m EUR m in % Total revenues 521.2 493.6 +5.6 Adjusted EBITDA1 98.0 94.6 +3.6 EBITDA 96.6 90.5 +6.7 Depreciation and amortization of FV adjustments 49.5 53.4 -7.3 Profit before interest and taxes (EBIT) 47.1 37.1 +27.0 Financial result -20.2 -1
Slide 18: Q1-Q2 2011 Revenues by division
Q1-Q2 2011 Revenues by division Q1-Q2 2011 Change Change in % at const. EUR m in % FX Total Group 521.2 +5.6 +5.4 Tubular Glass 148.7 -5.3 -4.7 Plastic Systems 170.1 +16.3 +14.5 Moulded Glass 165.4 +7.6 +8.0 Life Science Research 44.7 +1.6 +3.0 18
Slide 19: Q1-Q2 2011 Adjusted EBITDA and margin by division
Q1-Q2 2011 Adjusted EBITDA1 and margin by division Q1-Q2 2011 Q1-Q2 2010 Change EUR m in % Margin Margin Total Group 98.0 +3.6 18.8 19.2 Tubular Glass 30.7 -19.3 20.7 24.2 Plastic Systems 37.9 +12.1 22.3 23.1 Moulded Glass 34.2 +21.3 20.7 18.3 Life Science Research 5.2 +17.5 11.6 10.0 1 Earnings bef
Slide 20: Q1-Q2 2011 Reconciliation from adjusted EBITDA to net income
Q1-Q2 2011 Reconciliation from adjusted EBITDA to net income Q1-Q2 2011 Q1-Q2 2010 EUR m EUR m Adjusted EBITDA 98.0 94.6 Restructuring expenses 0.0 3.6 One-off income/expense 1.4 0.5 EBITDA 96.6 90.5 Amortization of fair value adjustments 9.4 12.8 Depreciation 40.1 40.6 Result from operations 47.1 3