Gerresheimer Ag · XETR:GXI
Gerresheimer — Merger or Acquisition (July 2015)
13 slides from Gerresheimer's merger presentation, Jul 28, 2015
Slide 1: Investor & Analyst Presentation: Acquisition of Centor US Holding Inc.
Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015
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: Transaction summary – Value-generating acquisition, directly adjusted EPS accretive
Transaction summary – Value-generating acquisition, directly adjusted EPS accretive Gerresheimer has reached an agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding Inc. (“Centor”) Total USD 725m (cash-free / debt-free) consideration The enterprise value r
Slide 4: Compelling strategic rationale
Compelling strategic rationale Fit with our strategic acquisition criteria Clear market Clear #1 player in the US prescription retail plastic vials market leader, high Blue chip customer base with long-term relationships barriers Strong management team with excellent track record Niche market with
Slide 5: Centor business overview
Centor business overview General Information Products Description % of sales 2014 Berlin plant (OH), USA, established 1968 Designed for solid ~45% 1-Clic medicine Headquarter: Perrysburg (OH), USA 2 caps available: child 100% owned by Nemera, stand-alone business unit resistant and non child resista
Slide 6: Centor's strong positioning in a unique market
Centor’s strong positioning in a unique market Market characteristics Centor customers ~4bn retail prescriptions per year in the US Centor is a long-term partner of leading industry ~62,000 pharmacies players, with some customer relationships in place for over 30 years ~70% of retail prescriptions u
Slide 7: Centor acquisition clearly improves Gerresheimer's financial profile
Centor acquisition clearly improves Gerresheimer’s financial profile (pro forma figures based on FY 2014 results) GX revenues by region pre Centor Pro Forma GX revenues by region including Centor Other regions 3% Other regions 2% Emerging markets Emerging markets 17% 20% Americas 15% Centor 33% Eu
Slide 8: Financing - fully debt financed, quick deleveraging after acquisition
Financing - fully debt financed, quick deleveraging after acquisition Financing structure Credit profile Consideration to be financed through drawing Temporary increase in leverage to slightly of existing Revolving Credit Facility and a new above 3.0x Bridge Loan Quick deleveraging through strong ca
Slide 9: Full confirmation of Guidance FY 2015 – Exact closing date of Centor acquisition unknown
Full confirmation of Guidance FY 2015 – Exact closing date of Centor acquisition unknown, but expected in Q4 2015 Guidance FY 2015 Revenues +1% to +3%; equals approx. EUR 1,300m to EUR 1,330m (organic growth)1 Adjusted EBITDA EUR 255m to EUR 265m (at const. FX)2 Capex 9% to 10% of revenues (at const
Slide 10: Centor will have a favorable impact on our first indication for FY 2016-2018
Centor will have a favorable impact on our first indication for FY 2016-2018 Outlook First indication incl. Centor FY 2016-2018 FY 2016-2018 (Assumption: Disposal of Glass Tubing (Assumptions: Acquisition of Centor will be closed Business closed by end of calendar year by end of financial year 2015
Slide 11: Key takeaways: Acquisition of market leader Centor
Key takeaways: Acquisition of market leader Centor to extend pharmaceutical packaging business in the US Expansion of our primary packaging offering in the US Focus on a stable niche market for prescription packaging Low integration risk Excellent margin and cash profile Creates significant sharehol
Slide 12: Questions & Answers
Questions & Answers
Slide 13: Financial calendar and contact details
Financial calendar and contact details February 11, 2015 Annual Report Financial Year 2014 R April 14, 2015 Interim Report 1st Quarter 2015 R April 30, 2015 Annual General Meeting 2015 R July 9, 2015 Interim Report 2nd Quarter 2015 R October 8, 2015 Interim Report 3rd Quarter 2015 Name Investor Rela