Slide 1: Announcement of Q2 2010 Results
Announcement of Q2 2010 Results Analyst / Investor Conference Call July 14, 2010 3:00 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 Key Facts Q2 2010 and Guidance FY 2010 Uwe Röhrhoff, CEO Financial Overview Q2 2010 Jürgen Wiecha, CFO Appendix 3
Slide 4: Gerresheimer: Leading global partner of the pharma & healthcare industry
Gerresheimer Leading global partner of the pharma & healthcare industry 4
Slide 5: We started 15 years ago to reinvent our company
We started 15 years ago to reinvent our company We invested and developed a new company Today we are the leading global partner for the pharma & healthcare industry This will be even truer tomorrow 5
Slide 6: Profitable Growth
Profitable Growth Globalization of business model Attractive investment for financial markets Corporate responsibility towards stakeholders 6
Slide 7: Q2 2010 Financial Key Facts
Q2 2010 Financial Key Facts Marked increase in like-for-like revenues of 6.8% (At constant exchange rate: Q2 2010: 5.6%, Q1-Q2 2010: 3.6%) Solid growth in the pharma business Recovery in the more cyclical Cosmetics business and Life Science Research segment Significantly increased results
Slide 8: Q2 2010 Operational Key Facts
Q2 2010 Operational Key Facts Tubular Glass Sales growth in RTF® syringes outperformed market growth Bulk syringe business on the decline North America and China with considerable growth in vials and ampoules Plastic Systems Revenue with parts experienced high growth rates Revenue from
Slide 9: Guidance Update FY 2010
Guidance Update FY 2010 20091 Guidance 2010 Updated (as of Feb 10, 2010) Guidance 2010 Net Sales EUR 970.8m +2% to 4% as reported2 +5% to 6% as reported3 +2% to 4% at const. FX +3% to 4% at const. FX Adj. EBITDA 19.2% Mid 19% 19.5% to 20.0% margin Capex EUR 86.4m EUR 75m to 80m EUR 75m to 80m 1 Excl
Slide 10: Invitation to Capital Markets Day 2010
Invitation to Capital Markets Day 2010 Date September 1-2, 2010 Location Gerresheimer Lohr, (Moulded Glass) and Gerresheimer Wertheim (Tubular Glass) Registration Invitation will be sent out today 10
Slide 11: Agenda
Agenda Key Facts Q2 2010 and Guidance FY 2010 Uwe Röhrhoff, CEO Financial Overview Q2 2010 Jürgen Wiecha, CFO Appendix 11
Slide 12: Q2 2010 P&L Overview
Q2 2010 P&L Overview Q2 2010 Q2 2009 EUR m EUR m in % Sales 268.8 264.4 +1.7 Adjusted EBITDA1 56.3 47.5 +18.5 Profit from operations 24.8 11.8 >100 Net income 11.2 0.9 >100 EPS 0.38 0.02 >100 Adjusted EPS 2 0.59 0.44 +34.1 1 Earnings before financial result, income taxes, amortization of fair value
Slide 13: Q2 2010 Sales by Segment
Q2 2010 Sales by Segment EUR m Reported growth [%] FXN1 [%] Total sales 268.8 +1.7 +0.4 Total sales ex TPS 268.8 +6.8 +5.6 Tubular Glass 86.1 +6.0 +4.5 Plastic Systems 81.6 -10.3 -11.9 Plastic Systems ex TPS 81.6 +4.3 +2.5 Moulded Glass 81.3 +10.6 +10.4 Life Science Research 23.6 +8.3 +6.2 1 FXN = G
Slide 14: Q2 2010 Adjusted EBITDA & Margin by Segment
Q2 2010 Adjusted EBITDA1 & Margin by Segment Q2 2010 vs. Q2 2009 Q2 2010 Q2 2009 EUR m [Growth in %] [Margin in %] [Margin in %] Total Group 56.3 +18.5 20.9 18.0 Total Group ex TPS 56.3 +18.5 20.9 18.9 Tubular Glass 21.4 +4.9 24.9 25.1 Plastic Systems 20.4 +5.7 25.0 21.2 Plastic Systems ex TPS 20.4
Slide 15: Q2 2010 Key Financial Figures
Q2 2010 Key Financial Figures May 31, 2010 May 31, 2009 EUR m EUR m in % Equity 493.4 466.7 +5.7 Equity ratio in % 36.0 34.0 Net Working Capital 1 202.3 200.3 +1.0 in % of LTM sales 20.4 19.1 Net Financial Debt 2 408.7 451.1 -9.4 Adjusted EBITDA leverage 2.1 2.3 n/a Q2 2010 Q2 2009 EUR m EUR m in %
Slide 16: Financing Structure
Financing Structure Comparison of debt/cash positions in EUR m Net Financial Debt Q2 2009: 451.1m Q2 2010: 408.7m Interest rate (due date): Bond 126.0 126.0 7.9%; Fixed coupon (2015) Hedged interest rate: 5.7% Long-term bank debt 239.0 until Sep 2010. As from Sep 235.0 2010 ca. 80% hedged at 1.8% un
Slide 17: Financial Calendar
Financial Calendar September 1-2, 2010 Capital Markets Day 2010 October 6, 2010 Interim Report 3rd Quarter 2010 February 10, 2011 Annual Report 2010 17
Slide 18: 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 18
Slide 19: Agenda
Agenda Key Facts Q2 2010 and Guidance FY 2010 Uwe Röhrhoff, CEO Financial Overview Q2 2010 Jürgen Wiecha, CFO Appendix 19
Slide 20: Q2 2010 Reconciliation From Adjusted EBITDA to Net Income After Minorities
Q2 2010 Reconciliation From Adjusted EBITDA to Net Income After Minorities EUR m Q2 2010 Q2 2009 Adjusted EBITDA 56.3 47.5 Restructuring expenses 3.1 0.8 One-off income/expense 0.5 1.4 EBITDA 52.7 45.3 Amortization of fair value adjustments 6.5 9.5 Depreciation and amortization 21.4 18.7 Accounting
Slide 21: Q1-Q2 2010 P&L Overview
Q1-Q2 2010 P&L Overview Q1-Q2 2010 Q1-Q2 2009 EUR m EUR m in % Sales 493.6 501.7 -1.6 Adjusted EBITDA1 94.6 85.8 +10.3 Profit from operations 37.1 21.0 +76.7 Net income 13.6 -0.1 >100 EPS 0.44 -0.04 >100 Adjusted EPS 2 0.81 0.63 +28.6 1 Earnings before financial result, income taxes, amortization of
Slide 22: Q1-Q2 2010 Sales by Segment
Q1-Q2 2010 Sales by Segment EUR m Reported growth [%] FXN1 [%] Total sales 493.6 -1.6 -1.3 Total sales ex TPS 493.6 +3.3 +3.6 Tubular Glass 157.0 +4.0 +4.9 Plastic Systems 146.3 -10.6 -11.7 Plastic Systems ex TPS 146.3 +4.6 +3.1 Moulded Glass 153.7 +2.4 +3.2 Life Science Research 44.0 -0.5 +2.4 1 FX
Slide 23: Q1-Q2 2010 Adjusted EBITDA & Margin by Segment
Q1-Q2 2010 Adjusted EBITDA1 & Margin by Segment Q1-Q2 2010 vs. Q1-Q2 ’09 Q1-Q2 2010 Q1-Q2 2009 EUR m [Growth in %] [Margin in %] [Margin in %] Total Group 94.6 +10.3 19.2 17.1 Total Group ex TPS 94.6 +9.4 19.2 18.1 Tubular Glass 38.0 +6.7 24.2 23.6 Plastic Systems 33.8 +9.0 23.1 18.9 Plastic Systems
Slide 24: Q1-Q2 2010 Reconciliation From Adjusted EBITDA to Net Income After Minorities
Q1-Q2 2010 Reconciliation From Adjusted EBITDA to Net Income After Minorities EUR m Q1-Q2 2010 Q1-Q2 2009 Adjusted EBITDA 94.6 85.8 Restructuring expenses 3.6 1.5 One-off income/expense 0.5 1.7 EBITDA 90.5 82.6 Amortization of fair value adjustments 12.8 19.1 Depreciation and amortization 40.6 37.2