Gerresheimer Ag · XETR:GXI
Gerresheimer — Deutsche Bank German & Austrian Corporate Conference 2011
26 slides from Gerresheimer's conference presentation, May 19, 2011
Slide 1: Deutsche Bank German & Austrian Corporate Conference
Deutsche Bank German & Austrian Corporate Conference Frankfurt, May 19 & 20, 2011 Uwe Röhrhoff, CEO 1
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 1 Company description 2 Appendix 3
Slide 4: Gerresheimer at a glance
Gerresheimer at a glance Key facts Leading international manufacturer high-quality specialty products made of glass and plastic for the global pharma and healthcare industry Whole range of pharmaceutical products enable easy drug administration 1) Financial year ends on 30 November 4
Slide 5: Clear focus on pharma and healthcare
Clear focus on pharma and healthcare 82% Pharma and Healthcare 12% Cosmetics Revenues 2010 EUR 1,025m 6% Other 5
Slide 6: Organizational structure
Organizational structure Consolidated net revenues FY 2010: EUR 1,024.8m Life Science Tubular Glass Plastic Systems Moulded Glass Research EUR 310.4m EUR 307.9m EUR 327.3m EUR 95.0m 30% of total revenues 30% of total revenues 31% of total revenues 9% of total revenues 6
Slide 7: Gerresheimer is a leading global player
Gerresheimer is a leading global player Region Locations Employees Europe 20 5,116 North America 9 1,709 Other regions 15 2,650 Total 44 9,475 As of November 30, 2010 Locations 7
Slide 8: Europe & North America most important, pharmerging markets gaining in significance
Europe & North America most important, pharmerging markets gaining in significance 63% Europe (23% Germany) 24% Revenues 2010 North America EUR 1,025m 13% Other regions 8
Slide 9: Highly attractive end market trends
Highly attractive end market trends Aging of world population Development of healthcare systems in emerging countries Growing number of acute and chronic diseases Accelerating pace in drug development Growth in biotech drugs and generics Outsourcing trend of drug delivery and primary pac
Slide 10: Well-diversified blue-chip customer base
Well-diversified blue-chip customer base Net revenues to TOP 50 customers Pharma and healthcare Other (FY 2010) in EUR m 374 65% 62% 57% Cumulative share 49% 36% 125 88 48 33 Top 10 11-20 21-30 31-40 41-50 Gerresheimer has close long-term relationships with …with limited dependence on individual cus
Slide 11: Leading market positions in attractive niche markets
Leading market positions in attractive niche markets Tubular Glass Plastic Systems Life Moulded Division (Injectable Glass (Plastic Drug Delivery Science and Systems) and Systems) Glass Research Inha- Diabetes Glass Other Plastic Pharma Product Tubing Syringes Injectables Packaging lation Diagnos- P
Slide 12: Gerresheimer provides solutions across all key product categories
Gerresheimer provides solutions across all key product categories Tubular Glass Plastic Systems Life Science Division (Injectable Glass and Moulded Glass (Plastic Drug Delivery and Systems) Research Systems) Other Diabetes OTC liquids and Glass Glass Plastic Pharma Product Tubing Syringes Injec- Inh
Slide 13: Gerresheimer's strategy
Gerresheimer’s strategy Base growth: Existing customers and regions Organic New products for existing growth customers New regions and customers Pharma and healthcare Global market Extension of product leadership Growth offerings/technology positions through Extension of geographic acq
Slide 14: Strong operational performance in financial year 2010
Strong operational performance in financial year 2010 Key group figures (EUR m) Revenues2 EBITDA2 adjusted EBITDA Margin + 5.6% + 9.8% TPS1 1,000.2 1,024.8 204.5 29.4 186.2 Group ex TPS 970.8 19.2% 20.0% 2009 2010 2009 2010 Net income Net financial debt >100% - 16.7% 46.7 373.3 311.0 7.0 2009 2010 2
Slide 15: Strong improvement of financial ratios in 2010
Strong improvement of financial ratios in 2010 Key financial ratios/figures Net debt1 / adjusted EBITDA Capital expenditure (EUR m) 86.4 73.2 2.0x 1.5x 2009 2010 2009 2010 Capex / Revenues 8.6% 7.1% Equity ratio Net working capital2 (EUR m) 39.0% 182.3 177.0 35.8% 2009 2010 2009 2010 NWC / Revenues
Slide 16: Good start to the financial year 2011
Good start to the financial year 2011 Key group figures (EUR m) Revenues EBITDA adjusted EBITDA Margin + 5.2% + 9.0% 41.8 236.6 38.3 224.8 17.0% 17.7% Q1 2010 Q1 2011 Q1 2010 Q1 2011 Net income Net financial debt - 21.0% >100% 402.6 7.1 318.2 2.4 Q1 2010 Q1 2011 Q1 2010 Q1 2011 16
Slide 17: Vedat acquisition in April 2011 more than doubles revenues in South America
Vedat acquisition in April 2011 more than doubles revenues in South America Current setup Vedat in South America Embu, Sao Paulo, Brazil Buenos Aires Since 2007/2008 Argentina 3 plants in Sao Paulo 1 plant in Buenos Aires Plastic Packaging 500 employees Cotia Sao Paulo Main products Foun
Slide 18: Gerresheimer Plastic Systems – Providing full service in South America
Gerresheimer Plastic Systems – Providing full service in South America The established Gerresheimer Plastic Systems products The expanded portfolio – Vedat‘s additional products 18
Slide 19: Guidance FY 2011 update reflects inclusion of Vedat acquisition
Guidance FY 2011 update reflects inclusion of Vedat acquisition FY 2010 Guidance FY 2011 Guidance FY 2011 as reported As of Feb. 10, 2011 As of April 7, 2011 Net revenues EUR 1,024.8m +3% to 4% at const. FX +6% to 7% at const. FX Adj. EBITDA margin 20.0% About 20.0% About 20.0% Capex EUR 73.2m About
Slide 20: Agenda
Agenda 1 Company description 2 Appendix 20
Slide 21: Q1 2011 P&L overview
Q1 2011 P&L overview Q1 2011 Q1 2010 Change EUR m EUR m in % Total revenues 236.6 224.8 +5.2 Adjusted EBITDA1 41.8 38.3 +9.0 EBITA 21.5 18.6 +15.6 Amortization of FV adjustments 4.7 6.3 -25.4 Profit before interest and taxes (EBIT) 16.8 12.3 +36.6 Financial result -6.9 -8.9 +22.5 Profit before taxes
Slide 22: Q1 2011: Revenues by division
Q1 2011: Revenues by division Q1 2011 Change Change in % at const. EUR m in % FX Total Group 236.6 +5.2 +2.9 Tubular Glass 66.8 -5.8 -8.1 Plastic Systems 72.1 +11.4 +8.8 Moulded Glass 80.3 +10.9 +9.8 Life Science Research 21.3 +4.3 -1.4 22
Slide 23: Q1 2011: Adjusted EBITDA and margin by division
Q1 2011: Adjusted EBITDA1 and margin by division Q1 2011 Q1 2010 Change EUR m in % Margin Margin Total Group 41.8 +9.0 17.7 17.0 Tubular Glass 13.8 -16.8 20.6 23.4 Plastic Systems 14.4 +7.3 20.0 20.7 Moulded Glass 16.1 +36.6 20.1 16.3 Life Science Research 2.2 +24.3 10.4 8.8 1 Earnings before financ
Slide 24: Key financial figures
Key financial figures February 28, 2011 February 28, 2010 Change EUR m EUR m in % Equity 536.7 482.6 +11.2 Equity ratio in % 40.2 35.9 Net Working Capital 1 172.3 175.1 -1.6 in % of LTM revenues 16.6 17.7 Net Financial Debt 2 318.2 402.6 -21.0 Adjusted EBITDA leverage 1.5 2.2 -31.8 Q1 2011 Q1 2010 C
Slide 25: Reconciliation from adjusted EBITDA to net income
Reconciliation from adjusted EBITDA to net income EUR m FY 2009 FY 2010 Adjusted EBITDA 185.9 204.5 Restructuring expenses 3.6 3.7 One-off income/expense 2.0 0.0 EBITDA 180.3 200.8 Amortization of fair value adjustments 38.3 24.8 Depreciation 76.2 81.0 Book loss from disinvestment 5.3 0.0 Result fro
Slide 26: Contact details: Investor & Creditor Relations
Contact details: Investor & Creditor Relations Phone +49 211 6181-257 Fax +49 211 6181-121 E-mail gerresheimer.ir@gerresheimer.com IR website www.gerresheimer.com/ir 26
Gerresheimer — Deutsche Bank German & Austrian Corporate Conference 2011 on 6ix