Gerresheimer Ag · XETR:GXI
Gerresheimer — Q1 2022 Earnings Presentation
28 slides from Gerresheimer's earnings presentation, Apr 7, 2022
Slide 1: Q1 2022 Results Presentation
Q1 2022 Results Presentation Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Duesseldorf, April 7, 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: Agenda
Agenda Strong Start Into the Year Capex Deep Dive Financials Outlook Appendix 3 04/07/2022 Q1 2022 Earnings Presentation
Slide 4: Strong Start to the Year
Strong Start to the Year CEO Dietmar Siemssen
Slide 5: Transforming Gerresheimer into a growth company
Transforming Gerresheimer into a growth company as innovation leader, solution provider and system integrator. 201 5
Slide 6: Leverage our Competitive Advantage
Leverage our Competitive Advantage Focus for 2022: Accelerate – Execute – Innovate Our Key Priorities in FY 2022 Comments on geopolitical challenges: Accelerate: Another record year to - No material direct exposure to be driven by High Value Solutions Russia, Belarus and Ukraine - Long-term hedge im
Slide 7: Delivery: Double-Digit Growth
Delivery: Double-Digit Growth Key Take-Aways Q1 2022: Strong Start to FY 2022 Double-Digit Growth: All business segments Successfully Org. revenue growth Adj. EBITDA (EUR m): contributing to growth managing geopolitical uncertainties +19.1% +10.6% (FXN) High Value Solutions Adj. EPS: >15% Revenue gu
Slide 8: Capex Deep Dive
Capex Deep Dive CEO Dietmar Siemssen / CFO Dr. Bernd Metzner
Slide 9: Further Sharpening our Growth & Return Profile
Further Sharpening our Growth & Return Profile Basis for Investments & Capex Priorities Basis for investments into growth opportunities Record order intake Transformation: Global megatrends & development solution provider & projects system integrator Increasing capacity Increasing focus on Regional
Slide 10: Clear Roadmap to Implement Growth
Clear Roadmap to Implement Growth Growth Investments With a Particular Focus on High Value Solutions Globalization in Syringes Advanced Technologies Regional expansion and high-value products Push digitalization for connected & digital devices − Double global syringe capacity by 2028 − Further inves
Slide 11: Significant Investments Into High Value Solutions
Significant Investments Into High Value Solutions Capex Split by Type and Growth Capex Breakdown Capex Split by Type Around 55% into High Value Solutions Capex type as % of revenues Growth capex by segment Capacity Expansion ~ 25% High Value Solutions Base: ~ 55% ~ 4% Growth: High Single- Digit Cont
Slide 12: High Value Solutions Support Margin Expansion
High Value Solutions Support Margin Expansion Current Investment Opportunity and Impact on Gerresheimer‘s Profile Underlying market growth proves High margin HVS will account for around attractiveness of High Value Solutions a third of revenues by 2028 HVS as % of total Gerresheimer revenues − Dynam
Slide 13: Gerresheimer's Investment Program
Gerresheimer’s Investment Program Delivers Attractive Returns Robust and holistic capital Investments into attractive growth allocation process markets with a priority on margin KPIs: IRR, payback period and NPV strong High Value Solutions Continuous improvement of capex/ Project Capex 75: Generatin
Slide 14: Financials
Financials CFO Dr. Bernd Metzner
Slide 15: Q1 2022 Figures Prove Investments are Paying off
Q1 2022 Figures Prove Investments are Paying off Operational View on KPIs Revenues Adj. EBITDA Adj. EPS (in EUR m) (in EUR m) (in EUR) organic growth yoy: 19.1% organic growth yoy: 10.6% organic growth yoy: 8.5% 371 0.63 62 0.57 54 303 363 0.64 61 0.59 305 55 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021
Slide 16: Strong Pricing Power
Strong Pricing Power Q1 2022 Revenue Growth Reconciliation 19.1% − Price increases from pass- ~2% through are implemented on short-notice and mainly relate to change in raw ~4% material prices (e.g. resin) 13.1% − Renegotiated price adjustments are sustainable and mainly linked to higher Q1 2022 Con
Slide 17: Strong Q1 2022 in all Divisions
Strong Q1 2022 in all Divisions Q1 2022: Divisional Performance and Highlights Organic yoy & margin In EUR m Revenues Adj. EBITDA Double-digit growth +16.9% +15.3% — Double-digit growth in all business units based on volume, 186 40 price and pass-through 155 34 P&D — Adj. EBITDA significantly suppor
Slide 18: Stable Cash Flow Despite Higher Investments
Stable Cash Flow Despite Higher Investments Cash Flow and Financial Debt Q1 2022 Q1 2021 Change In EUR m Comments Adjusted EBITDA 61.5 54.2 7.3 Change in net working capital -41.2 -45.6 4.4 NWC performance further improved Net interest paid -1.3 -1.9 0.6 Net taxes paid -5.7 -8.9 3.2 Other -11.5 -21.
Slide 19: Outlook
Outlook CEO Dietmar Siemssen
Slide 20: Transforming Gerresheimer into a growth company
Transforming Gerresheimer into a growth company as innovation leader, solution provider and system integrator. 2022 201 5
Slide 21: Strong Progress Supports Double-Digit Revenue Growth Expectations
Strong Progress Supports Double-Digit Revenue Growth Expectations – Even Without Pass-Through Continued Acceleration in 2022 Group level guidance (FXN) focused on three key drivers of shareholder value Adj. EBITDA/ Revenue Adj. EPS Margin High High FY 2022 > 10% single-digit single-digit growth grow
Slide 22: Appendix
Appendix 22 04/07/2022 Q1 2022 Earnings Presentation
Slide 23: Financial Calendar
Financial Calendar Annual General Publication 2nd Publication 3rd Meeting Quarter Results 2022 Quarter Results 2022 June July October 08, 2022 13, 2022 12, 2022 23 04/07/2022 Q1 2022 Earnings Presentation
Slide 24: Reconciliation Q1 2022
Reconciliation Q1 2022 Reported and Adjusted Financials Q1 2022 Org. Q1 2021 growth Comments Adjust- YoY1 In EUR m Reported Adjusted Adjusted ment Adjusted Revenues 370.8 370.8 302.8 19.1% Double-digit volume growth EBITDA 59.8 1.8 61.5 54.2 10.8% Depreciation & -38.2 9.6 -28.7 -23.9 Adjusted for fa
Slide 25: Q1 Revenue & Organic Growth Reconciliation
Q1 Revenue & Organic Growth Reconciliation (1 of 2) in EUR m organic growth +19.1% 8.0 370.8 362.8 0.9 -1.3 32.2 26.5 302.8 304.6 1.8 +21.8% +16.9% Revenue FX Revenue Q1 P&D PPG GAT HQ, Cons. Revenue Q1 FX Revenue Q1 2021 2021 (FXN) 2022 (FXN) Q1 2022 25 04/07/2022 Q1 2022 Earnings Presentation
Slide 26: Q1 EBITDA & Organic Growth Reconciliation
Q1 EBITDA & Organic Growth Reconciliation (2 of 2) in EUR m organic growth & margin +10.6% 0.5 -2.9 0.9 61.5 3.0 60.6 5.3 54.8 54.2 0.6 15.3% +11.1% +18.0% +16.7% Adj. EBITDA FX Adj. P&D PPG GAT HQ, Cons. Adj. FX Adj. EBITDA Q1 2021 EBITDA Q1 EBITDA Q1 Q1 2022 2021 (FXN) 2022 (FXN) 26 04/07/2022 Q1
Slide 27: Financial Headroom
Financial Headroom Net Financial Debt & Adjusted EBITDA Leverage Net financial debt according to credit agreement in force Maturity Profile In EUR m Net financial debt 1,031 (In EUR m)1 986 Promissory loans 3.3 RCF 3.2 Adj. EBITDA leverage (x) 551 Feb-21 Feb-22 75 In EUR m Q1 2022 Q1 2021 Drawn port
Slide 28: serresheimer
serresheimer innovating for a better life