Slide 1: Results Q4 & FY 2007, Outlook FY 2008
Results Q4 & FY 2007 Outlook FY 2008 Analyst Conference February 26, 2008 | 3:00 p.m. CET Dr. Axel Herberg, CEO Hans-Jürgen Wiecha, CFO 0
Slide 2: Agenda
Agenda Business Highlights FY 2007 Dr. Axel Herberg, CEO Financial Overview Q4 2007 / FY 2007 Hans-Jürgen Wiecha, CFO Outlook FY 2008 Dr. Axel Herberg, CEO 1
Slide 3: An excellent year for Gerresheimer
An excellent year for Gerresheimer Success built on three pillars Dynamic sales growth Operations with significant productivity increases Successful integration of new portfolio companies 2
Slide 4: Continuation of dynamic growth trend
Continuation of dynamic growth trend Net sales grew by 48.1% to #957.7m Above market organic sales growth of 8.4% as a result of strong underlying market growth and Gerresheimer's excellent competitive position Adjusted EBITDA increased by 48.1% to #181.6m due to several acquisitions and substantial
Slide 5: Successful accomplishment of published targets for FY 2007
Successful accomplishment of published targets for FY 2007 Dimension Guidance 2007 Results 2007 Organic sales growth 8-9 percent 8.4 percent Adjusted EBITDA1 margin Close to 19 percent 19.0 percent Capex 895-100m 898.9m 1 Earnings before income taxes, financial result, depreciation and amortization,
Slide 6: Continuous improvement in our operations
Continuous improvement in our operations Tubular Glass: 61% sales growth in RTF-syringes Installation of 2nd RTF-line and decision on 3rd RTF-line Continued strong sales in ampoules and vials Plastic Systems: Strong growth in medical plastic systems, especially inhalers Entry into new segment of ins
Slide 7: Growth through value-accretive acquisitions
Growth through value-accretive acquisitions Company Sales1 Rationale Status Wilden #247m Transformational acquisition • Growth of core into Pharma Plastic Systems business accelerated • Assessment of non- core parts Glass division $24m Strengthening of US • Fully integrated into of Comar position in
Slide 8: Agenda
Agenda Business Highlights FY 2007 Dr. Axel Herberg, CEO Financial Overview Q4 2007 / FY 2007 Hans-Jürgen Wiecha, CFO Outlook FY 2008 Dr. Axel Herberg, CEO 7
Slide 9: Net sales distribution reflects strong focus on Pharma & Life Science
Net sales distribution reflects strong focus on Pharma & Life Science By By business business segment segment By By market market segment segment By By region region Life Science Other Research regions 8% 4% China Other 2% 15% Tubular Glass Germany 28% 28% Cosmetics America Plastic Systems 13% 28% 3
Slide 10: Group: Continued dynamic growth; adjusted EBITDA margin on prior year's level
Group: Continued dynamic growth; adjusted EBITDA margin on prior year’s level despite lower margin acquisitions Net sales and adjusted EBITDA 8m Organic growth in Adj. EBITDA margin: Organic growth in Adj. EBITDA margin: net sales1: 9.4% Q4 2007: 22.0% net sales1: 8.4% FY 2007: 19.0% Q4 2006: 23.4%
Slide 11: Tubular Glass: RTF-syringes drive organic sales growth
Tubular Glass: RTF-syringes drive organic sales growth; slight margin decline due to start-up costs of 2nd RTF-line Net sales and adjusted EBITDA 8m Organic growth in Adj. EBITDA margin: Organic growth in Adj. EBITDA margin: net sales1: 14.3% Q4 2007: 26.2% net sales1: 11.6% FY 2007: 24.6% Q4 2006:
Slide 12: Plastic Systems: Strong growth at Wilden, especially in core areas
Plastic Systems: Strong growth at Wilden, especially in core areas; above market organic growth in Plastic Packaging Net sales and adjusted EBITDA 8m Organic growth in Adj. EBITDA margin: Organic growth in Adj. EBITDA margin: net sales1: 9.6% Q4 2007: 22.1% net sales1: 7.8% FY 2007: 18.7% Q4 2006: 3
Slide 13: Moulded Glass: Strong outperformance of pharma and cosmetics markets
Moulded Glass: Strong outperformance of pharma and cosmetics markets; significant EBITDA margin improvement Net sales and adjusted EBITDA 8m Organic growth in Adj. EBITDA margin: Organic growth in Adj. EBITDA margin: net sales1: 7.7% Q4 2007: 23.6% net sales1: 8.7% FY 2007: 20.4% Q4 2006: 25.5% FY 2
Slide 14: Life Science Research: Streamlining of product portfolio impacted sales & earnings
Life Science Research: Streamlining of product portfolio impacted sales & earnings; excellent platform for growth Net sales and adjusted EBITDA 8m Organic growth in Adj. EBITDA margin: Organic growth in Adj. EBITDA margin: net sales1: 5.2% Q4 2007: 12.8% net sales1: -3.1% FY 2007: 10.7% Q4 2006: 14.
Slide 15: Improved profitability triggered by strong operational performance and refinancing
Improved profitability triggered by strong operational performance and refinancing 8m Q4 2007 Q4 2006 FY 2007 FY 2006 Net sales 260.3 170.0 +53.1% 957.7 646.7 +48.1% Adjusted EBITDA1 57.2 39.7 +44.1% 181.6 122.6 +48.1% Margin 22.0% 23.4% 19.0% 19.0% Adjusted EBITA 39.3 27.2 +44.5% 116.6 73.8 +58.0%
Slide 16: New capital structure offers financial flexibility
New capital structure offers financial flexibility to further execute our growth strategy Equity ratio in % Adjusted EBITDA leverage 34.2 35.0 6.1 5.6 4.7 2.3 2.5 2.2 30 Nov 28 Feb 31 May 31 Aug 30 Nov 30 Nov 28 Feb 31 May 31 Aug 30 Nov 06 07 07 07 07 06 07 07 07 07 Equity -26.3 -30.9 31.8 491.5 505
Slide 17: Capex level in line with enlarged business portfolio
Capex level in line with enlarged business portfolio; Further investments in profitable growth projects Capex per segment FY 2006 FY 2007 8 98.9m Major growth projects: 1.0% 8 74.9m 28.8% Completion of 2nd and down 0.7% payment of 3rd RTF-syringe 8.9% line New production hall in the 36.3% Czech Repu
Slide 18: Agenda
Agenda Business Highlights FY 2007 Dr. Axel Herberg, CEO Financial Overview Q4 2007 / FY 2007 Hans-Jürgen Wiecha, CFO Outlook FY 2008 Dr. Axel Herberg, CEO 17
Slide 19: Outlook FY 2008
Outlook FY 2008 Growth of approx. 13 – 15%1 (at constant exchange rate 14-16%) Net Sales Mid 19% Adj. EBITDA margin Expected investments of #105m – #110m Capex Ongoing market observation for value-accretive M&A transactions Portfolio optimization 1 Exchange rate assumption for FY 2008 of 1.00 # =1.4
Slide 20: Financial Calendar 2008 / 2009
Financial Calendar 2008 / 2009 April 14, 2008 Interim Report 1st Quarter 2008 April 17, 2008 Annual General Meeting July 15, 2008 Interim Report 2nd Quarter 2008 October 15, 2008 Interim Report 3rd Quarter 2008 February 17, 2009 Full Year Results 2008 19
Slide 21: Contact Details
Contact Details Investor Relations Phone: +49 – (0) 211 6181 – 257 Fax: +49 – (0) 211 6181 – 121 E-mail: investorrelations@gerresheimer.com Please visit our IR website: www.gerresheimer.com/ir 20
Slide 22: 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