Slide 1: FY 2015 Results Presentation
FY 2015 Results Presentation Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, February 11, 2016
Slide 2: Disclaimer
Disclaimer 1. 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: Review FY 2015
Review FY 2015 Uwe Röhrhoff, CEO
Slide 4: Megatrends in pharma & healthcare support our profitable and sustained growth
Megatrends in pharma & healthcare support our profitable and sustained growth By 2020, 50% of world population consumes more U.S. remains biggest market 415 million adults than one medication dose in spending on medicines: today have diabetes. per day; up from 33% +34% from 2015-20201 By 2040, this
Slide 5: Production volume: Centor acquisition boosts output to 15.5bn products every year
Production volume: Centor acquisition boosts output from 14bn to 15.5bn products every year – nearly 500 per second Syringes Plastic bottles Pharma glass bottles Cosmetics (incl. Centor) ~ 400m pieces ~ 5.5bn pcs ~ 2.5bn pcs ~ 1bn pcs Injection vials Ampoules Inhalers Cartridges ~ 3bn pcs ~ 2bn pcs
Slide 6: FY 2015: Gerresheimer has become stronger, less capital intensive and even more focused
FY 2015: Gerresheimer has become stronger, less capital intensive and even more focused Guidance FY 2015 fully achieved Strong push on international expansion Centor acquisition closed: strong enhancement of financial profile Sale of Glass Tubing business closed: substantial reduction of capital int
Slide 7: Increased regional diversification – Americas now approaching one quarter of revenues
Increased regional diversification – Americas now approaching one quarter of revenues, will go up to about one third in FY 2016 FY 2015 revenues by segment Revenues FY 2015 by region including Centor in Q4 Other Emerging regions markets 3% 16% Europe Pharma & Healthcare 34% 83% Americas Other incl.
Slide 8: FY 2015: strong business development
FY 2015: strong business development Key Group figures in EUR m, EPS and dividend in EUR Revenues Adjusted EBITDA Organic FXN: +1.5% FY 2015 FXN: EUR 271.9m +6.8% +9.7% 1,290.0 1,377.2 253.4 277.9 19.6% 20.2% Margin Category FY 2014 FY1 2015 Category FY 2014 FY1 2015 Adjusted EPS Dividend proposal +
Slide 9: FY 2015 targets fully achieved
FY 2015 targets fully achieved Guidance FY 2015 Results FY 2015 Revenues +1% to +3% +1.5% (organic growth)1,2 Adjusted EBITDA EUR 255m to EUR 265m EUR 271.9m (at const. FX)2 Ex Centor3: EUR 262.4m Capex 9% to 10% of revenues 9.0% of revenues (at const. FX)2 1. Organic growth: At const. FX rates, exc
Slide 10: Financial overview FY 2015
Financial overview FY 2015 Rainer Beaujean, CFO
Slide 11: FY 2015 revenue increase driven by Plastics & Devices, FX and Centor
FY 2015 revenue increase driven by Plastics & Devices, positive foreign currency translation and Centor Revenues by division FY 2015 FY 2014 Growth Organic EUR m EUR m in % growth1,2 in % Total Group 1,377.2 1,290.0 +6.8 +1.5 Plastics & Devices 645.3 598.8 +7.8 +2.8 Primary Packaging Glass 651.0 622
Slide 12: Adjusted EBITDA margin at record high
Adjusted EBITDA margin at record high on better performance, lower tooling and high-margin Centor business Adjusted EBITDA1 by division FY 2015 FY 2014 EUR m Margin in % EUR m Margin in % Total Group 277.9 20.2 253.4 19.6 Plastics & Devices 141.6 21.9 126.1 21.1 Primary Packaging Glass 143.7 22.1 13
Slide 13: FY 2015: strong increase in EBIT
FY 2015: strong increase in EBIT in EUR m FY 2015 FY 2014 Change Adjusted EBITDA1 277.9 253.4 +24.5 Depreciation -86.3 -87.5 +1.2 Adjusted EBITA 191.6 165.9 +25.7 Disposal of Glass Tubing business 52.2 0.0 +52.2 Centor acquisition -11.6 0.0 -11.6 Portfolio optimization -15.9 -17.0 +1.1 One-off incom
Slide 14: Adj. net income and adjusted EPS are markedly up compared to the prior year
Adj. net income and adjusted EPS are markedly up compared to the prior year Reconciliation of net income to adjusted EPS in EUR m FY 2015 FY 2014 Change Net income 112.7 72.9 +39.8 Total one-off effects -24.3 18.5 -42.8 Amortization of fair value adjustments 22.3 17.5 +4.8 One-off effects included i
Slide 15: New financing structure in place after refinancing in June 2015 and Schuldschein
New financing structure in place after refinancing in June 2015 and Schuldschein emission in November 2015 Comparison of debt/cash positions in EUR m 877.5 New debt issue (Schuldschein): fixed/variable interest rates, 425.0 currently between ~1% and ~2%; (maturity in 2020, 2022 and 2025) Net financi
Slide 16: Cash flow figures have started to reflect improved financial profile
Cash flow figures have started to reflect improved financial profile Nov 30, 2015 Nov 30, 2014 Change EUR m EUR m in % Total assets 2,419.9 1,655.9 +46.1 Equity 698.1 604.4 +15.5 Equity ratio 28.8% 36.5% - Net working capital1 213.7 233.1 -8.3 NWC in % of LTM revenues 15.5% 18.1% - average NWC in %
Slide 17: Key financial takeaways FY 2015
Key financial takeaways FY 2015 Financial profile markedly improved as a result of Centor acquisition Lower capex requirements mainly driven by disposal of Glass Tubing business Lower risk profile based on fewer furnaces Lower working capital requirements Very solid financial structure after refinan
Slide 18: Guidance FY 2016
Guidance FY 2016 Uwe Röhrhoff, CEO
Slide 19: Guidance for FY 2016 and reiteration of indication for FY 2016-2018
Guidance for FY 2016 and reiteration of indication for FY 2016-2018 Guidance FY 2016 Indication FY 2016-2018 Revenues (FXN)1 Approx. EUR 1.5bn (plus/minus EUR 25m) FXN growth1,2 Approx. +9% +4% to +5% CAGR (organic) Organic growth1,3 Approx. +4% to +5% Adjusted EBITDA Approx. EUR 320m (plus/minus EU
Slide 20: Key takeaways
Key takeaways Well prepared for the coming years Stable and diversified growth prospects based on long-term megatrends Focus on deleveraging 20
Slide 21: Questions & Answers
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Slide 23: Q4 2015: revenues by division
Q4 2015: revenues by division Revenues by division Q4 2015 Q4 2014 Growth Organic EUR m EUR m in % growth1,2 in % Total Group 375.0 333.2 +12.6 +3.3 Plastics & Devices 186.1 149.3 +24.6 +6.1 Primary Packaging Glass 167.3 166.3 +0.6 +0.6 Life Science Research 25.8 22.6 +14.2 +1.2 1. Organic growth: A
Slide 24: Q4 2015: adjusted EBITDA and margin by division
Q4 2015: adjusted EBITDA and margin by division Adjusted EBITDA1 by division Q4 2015 Q4 2014 EUR m Margin in % EUR m Margin in % Total Group 86.9 23.2 78.6 23.6 Plastics & Devices 48.2 25.9 40.9 27.4 Primary Packaging Glass 40.5 24.2 38.8 23.3 Life Science Research 5.0 19.4 3.8 16.4 1. Earnings befo
Slide 25: Development of net working capital
Development of net working capital1 Nov 30, 2015 Nov 30, 2014 EUR m EUR m Inventories 186.4 193.7 thereof prepayments made 6.2 7.8 Trade receivables 219.0 208.5 Trade payables 160.9 125.5 Payments received on account 30.8 43.6 of orders Net working capital 213.7 233.1 in % of LTM revenues 15.5% 18.1
Slide 26: Development of inventories
Development of inventories Nov 30, 2015 Nov 30, 2014 EUR m EUR m Raw materials, consumables 50.8 50.5 and supplies Work in progress 24.2 23.2 Finished goods and 105.2 112.2 merchandise Prepayments made on 6.2 7.8 inventories Inventories 186.4 193.7 26
Slide 27: Growth drivers in Plastics & Devices deliver on megatrends
Growth drivers in Plastics & Devices deliver on megatrends Megatrends Time bar for 2014 2015 2016 growth driving initiatives New inhaler contract in New building Setup of clean-room, Start of production Growing trend towards Peachtree, US validation of self-medication plus production increase in acu
Slide 28: Key initiatives for quality and efficiency enhancements in Primary Packaging Glass
Key initiatives for quality and efficiency enhancements in Primary Packaging Glass address megatrends Megatrends Time bar for 2014 2015 2016 quality and efficiency enhancements Increasing regulatory Modernization of Project planning Capacity expansion Full efficiency and requirements Chicago plant a
Slide 29: GXI Key Data
GXI Key Data in EUR per share 2008 2009 2010 2011 2012 2013 2014 2015 EPS 0.02 0.18 1.38 1.61 1.98 1.98 2.11 3.32 Adjusted EPS 1.83 1.34 1.95 2.44 2.62 3.08 2.89 3.41 Cash flow from operations per share 5.26 3.74 5.09 4.13 5.53 4.67 5.04 6.49 Dividend 0.40 --- 0.50 0.60 0.65 0.70 0.75 0.851 Dividend
Slide 30: Financial calendar and contact details
Financial calendar and contact details February 11, 2016 Annual Report Financial Year 2015 R April 13, 2016 Interim Report 1st Quarter 2016 April 28, 2016 Annual General Meeting 2016 July 7, 2016 Interim Report 2nd Quarter 2016 October 6, 2016 Interim Report 3rd Quarter 2016 Name Investor Relations