Slide 1: Q3 2019 Earnings Presentation
Q3 2019 Earnings Presentation Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Duesseldorf, October 10, 2019
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 or
Slide 3: Agenda
Agenda 1 Dietmar Siemssen Q3 2019 highlights 2 Dr. Bernd Metzner Q3 2019 financial review 3 Dietmar Siemssen Conclusion & outlook 4 Appendix October 2019 Q3 2019 Earnings 3
Slide 4: Q3 2019 performance in line with expectations; year 1 of capex plan almost completed
Q3 2019 performance in line with expectations. Year 1 of capex plan almost completed, underpinning disciplined execution. Strict monitoring of all business and macro drivers Q3 2019 Financials Markets & Macro Operations Revenues and profitability Good market environment all in all with P&D reported
Slide 5: Disciplined execution of capex plan. Full speed ahead on growth, productivity and innovation
Disciplined execution of capex plan. Full speed ahead on growth, productivity and innovation. 2019 2019 Expanding innovation in glass October 2019 Q3 2019 Earnings 5
Slide 6: Gx Glass Innovation & Technology Center, Vineland/NJ
Gx ® Glass Innovation & Technology Center, Vineland/NJ From component supplier to provider of technology solutions Bundling our glass expertise under one roof to develop new products and technologies In close cooperation with our customers, we are now able to develop new products in a very early des
Slide 7: Sensile: Focus on executing main projects and driving leads & innovation pipeline
Sensile: Focus on executing main projects and driving leads & innovation pipeline Projects and Processes Executing on current projects Driving industrialization processes Leads and Innovation Pipeline Large base of prospects New treatment methods Diverse therapeutic areas Diabetes Large Pharma Avoid
Slide 8: Agenda
Agenda 1 Dietmar Siemssen Q3 2019 highlights 2 Dr. Bernd Metzner Q3 2019 financial review 3 Dietmar Siemssen Conclusion & outlook 4 Appendix October 2019 Q3 2019 Earnings 8
Slide 9: Q3 2019 performance in line with expectation
Q3 2019 performance in line with expectation CHANGE EUR M Q3 2019 Q3 2018 ANALYSIS in % FXN Revenues as per guidance1) 355.2 351.7 1.0% Driven by P&D , Glass Europe & EM Revenues 358.6 353.7 1.4% Slight fx tailwind FXN Adjusted EBITDA as per guidance 2) 71.1 69.8 1.6% Development in line with sales
Slide 10: Q3 marked by sustained dynamic in Primary Plastic Packaging and Syringes
Q3 marked by sustained dynamic in Primary Plastic Packaging and Syringes but lower demand from one US Glass customer P&D PPG GAT Adj. Adj. FXN1),2) FXN1) 2.8% EBITDA 23.6% -2.6% EBITDA 18.9% Growth Growth margin3) margin3) REPORTED EUR M REPORTED EUR M REPORTED EUR M 1.8 193.7 50.8 45.7 30.2 30.1 6.
Slide 11: FCF generation mostly driven by implementation of capex plan
FCF generation mostly driven by implementation of capex plan in Q3 2019 and temporary change in working capital EUR M Q3 2019 Q3 2018 CHANGE Adjusted EBITDA 72.2 73.7 -1.5 . Implementation of capex program for Change in net working capital -12.4 6.3 -18.7 2019 & 2020 drives higher capex spend YoY Ca
Slide 12: Net Financial Debt increase led by dividend and milestone payments
Net Financial Debt increase led by dividend and milestone payments; RCF refinancing closed with improved conditions NET FINANCIAL DEBT AND ADJ. EBITDA LEVERAGE FCF before Milestone Net Financial Debt Other (incl. FX acquisitions and payment Sensile Net Financial Debt May 31, 2019 effect) divestments
Slide 13: Agenda
Agenda 1 Dietmar Siemssen Q3 2019 highlights 2 Dr. Bernd Metzner Q3 2019 financial review 3 Dietmar Siemssen Conclusion & outlook 4 Appendix October 2019 Q3 2019 Earnings 13
Slide 14: FY 2019 guidance confirmed, FY 2020-2022 indications unchanged
FY 2019 guidance confirmed, FY 2020-2022 indications unchanged. Focus on execution At Group level & METRICS EXPECTED FY 2019 (FXN1) FXN1 Revenues ~ EUR 1.40bn to EUR 1.45bn ~ EUR 295m (plus/minus EUR 5m) Adjusted EBITDA Excluding EUR 118.5m from derecognition of contingent purchase price components
Slide 15: Agenda
Agenda 1 Dietmar Siemssen Q3 2019 highlights 2 Dr. Bernd Metzner Q3 2019 financial review 3 Dietmar Siemssen Conclusion & outlook 4 Appendix October 2019 Q3 2019 Earnings 15
Slide 16: Q3 revenue bridge by segment
Q3 marked by sustained dynamic in Primary Plastic Packaging and Syringes but lower demand from one US Glass customer EUR m FXN1 growth YoY: +1.0% FXN1 1.7 355.4 5.3 2.8 355.2 353.7 351.7 350 (0.4) (3.7) (4.2) 325 300 Q3 2018 Currency Q3 2018 @ Impact 2018 Q3 2018 FXN Δ P&D Δ PPG Δ GAT Δ Internal Sal
Slide 17: FXN Adjusted EBITDA development in line with sales growth
FXN Adjusted EBITDA development in line with sales growth EUR m FXN1 growth YoY: +0.8% FXN1 73.7 0.3 74.0 71.1 1.4 69.8 3.8 (5.6) (0.3) (2.1) (0.1) Q3 2018 Currency Q3 2018 Impact 2018 Impact 2018 Q3 2018 FXN Δ P&D Δ PPG Δ GAT Δ HQ Q3 2019 FXN adjusted impact adjusted Loss of the Network base for 20
Slide 18: GXI Key Data
GXI Key Data in EUR per share 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Dividend 0.40 – 0.50 0.60 0.65 0.70 0.75 0.85 1.05 1.10 1.15 Dividend yield 1.5% – 1.8% 1.9% 1.7% 1.4% 1.7% 1.2% 1.5% 1.6% 1.8% Payout ratio 22% – 26% 25% 25%1 23% 26% 25% 25% 27% 20% Share price high 38.20 27.05 29
Slide 19: Financial calendar and contact details
Financial calendar and contact details FINANCIAL CALENDAR February 19, 2020 FY 2019 Earnings April 9, 2020 Interim Report 1st Quarter 2020 April 29, 2020 Annual General Meeting 2020 July 14, 2020 Interim Report 2nd Quarter 2020 October 13, 2020 Interim Report 3rd Quarter 2020 CONTACT DETAILS Name Co
Slide 20: Overview of Abbreviations and Definitions
Overview of Abbreviations and Definitions ABBREVIATIONS AND DEFINITIONS Adj. EBITDA Net income before income taxes, net finance expense, amortization of fair value adjustments, depreciation and amortization, impairment losses, restructuring expenses and one-off income and expenses Adjusted EPS Adjus
Slide 21: Our Vision
Our Vision Gerresheimer will become the leading global partner for enabling solutions that improve health and well-being. Our success is driven by the passion of our people.