Gerresheimer Ag · XETR:GXI
Gerresheimer — Q2 2021 Earnings Presentation
25 slides from Gerresheimer's earnings presentation, Jul 13, 2021
Slide 1: Q2 2021 Results Presentation
Q2 2021 Results Presentation Dietmar Siemssen, CEO Bernd Metzner, CFO Duesseldorf, July 13, 2021
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: Achieving our Targets Through Innovation
Achieving our Targets Through Innovation CEO Dietmar Siemssen
Slide 4: Growth Accelerated
Growth Accelerated Key Take-Aways Q2 2021 Financials: Boosting Keep growth Org. revenue growth: High Value Solutions: momentum Adj. EBITDA margin: +7.1% core 1 +40% in the second half – 22.8% core1 (FXN) +7.5% group Adj. EPS: with Biologics: +50% Guidance confirmed +19.1% (FXN) 1. The core business
Slide 5: Innovation Drives Future Growth
Innovation Drives Future Growth Focused Implementation of formula G – Highlights Q2 2021 1 Gx Biological Solutions: Working as One Gerresheimer – boosting growth Sens AIR 2 Leveraging on innovation Smart Company Smart Connected & Digital Hub Factory Devices & Smart through digital solutions – Busine
Slide 6: Working Today on Tomorrow's Earnings Potentials
Working Today on Tomorrow’s Earnings Potentials Deep Dive Biological Solutions AIR Gx Sens Expanding the value chain Next level: Digital smart biologics pump Service for self-medication Enable biologics and pharma customers to access patients worldwide Becoming smart Digital business models to fuel
Slide 7: Digitalisation Offers new Business Opportunities
Digitalisation Offers new Business Opportunities Deep Dive Connected Devices & Smart Business Models Digital solutions enable Increase of therapy effectiveness Reduction of global healthcare costs Physician / Platform Disease Manager Service Disease and digital expertise enables Creation of digital
Slide 8: Sustainability as Innovation and Business Driver
Sustainability as Innovation and Business Driver Deep Dive Sustainability Progress United Nations CO2 reduction & Global Compact innovation in glass melting − We joined the world’s − Evolution: largest sustainability hybrid electric melting initiative − Target: Secure leading GxCare GxPure − We supp
Slide 9: Strong Q2 2021 – Financial Update
Strong Q2 2021 – Financial Update CFO Dr. Bernd Metzner
Slide 10: Q2 2021: Profitable Growth Accelerated
Q2 2021: Profitable Growth Accelerated Operational View on key KPIs Revenues1 Adj. EBITDA1 Adj. EPS1 (in EUR m) (in EUR m) (in EUR) organic growth yoy 3.1% organic growth yoy organic growth 7.1% core business: 19.1% core business: yoy: Adj. EBITDA margin core 22.8% (FNX): 1.28 377 363 84 82 1.18 1.3
Slide 11: Strong Performance in Core Business
Strong Performance in Core Business Q2 2021: Divisional Performance and Highlights Organic yoy & margin In EUR m Revenues Adjusted EBITDA Impressive growth in syringes +4.4% 201 202 -0.9% — Solid mid-single digit org. growth on the back of tough comps in Q2 2020 (+9% supported by Covid-19 boost) 56
Slide 12: Reconciliation Q2 2021
Reconciliation Q2 2021 Reported and Adjusted Financials on Group Level Q2 2021 Q2 2020 Organic growth YoY In EUR m Reported Adjustment Adjusted Adjusted Adjusted Revenues 377.0 377.0 362.9 +7.5% EBITDA 75.3 6.61 81.9 84.2 +3.9% Depreciation & -32.9 8.8 -24.1 -27.3 Amortization EBIT 42.4 15.5 57.8 56
Slide 13: Capex and NWC Driving FCF Performance
Capex and NWC Driving FCF Performance Cash Flow and Financial Debt In EUR m Q2 2021 Q2 2020 Change Comments Adjusted EBITDA 81.9 84.2 -2.3 EUR -3.1m negative FX effects Broader view: first half NWC nearly on par with H1 Change in net working -32.6 6.0 -38.6 2020 despite strong organic growth. And: l
Slide 14: 2021 Outlook: Guidance Confirmed
2021 Outlook: Guidance Confirmed CEO Dietmar Siemssen
Slide 15: Profitable Growth Accelerating
Profitable Growth Accelerating Guidance for FY 2021 and Mid-Term For Core Business1 (FXN) FY 2021 Mid-term Accelerate Mid-single High-single Revenue growth digit growth digit growth Further expand ~ 22 to 23% ~ 23% Adj. EBITDA margin Drive Adj. EPS growth ≥ 10% p.a. and shareholder value 1. The core
Slide 16: Appendix
Appendix 16 13/07/2021 Q2 2021 Earnings Presentation
Slide 17: Financial Calendar
Financial Calendar Publication 3rd Publication Financial Publication 1st Publication 2nd Quarter Results 2021 Year 2021 Results Quarter Results 2022 Quarter Results 2022 October February April July 12, 2021 17, 2022 7, 2022 13, 2022 17 13/07/2021 Q2 2021 Earnings Presentation
Slide 18: Q2 2021: Revenue & Organic Growth Reconciliation
Q2 2021: Revenue & Organic Growth Reconciliation (1 of 4) in EUR m organic growth +7.5% 378.2 377.0 0.8 0.8 -1.2 16.2 362.9 -11.2 8.6 +10.3% 351.8 +4.4% Q2 2020 FX Q2 2020 (FXN) P&D PPG GAT HQ, Cons. Q2 2021 (FXN) FX Q2 2021 18 13/07/2021 Q2 2021 Earnings Presentation
Slide 19: H1 2021: Revenue & Organic Growth Reconciliation
H1 2021: Revenue & Organic Growth Reconciliation (2 of 4) in EUR m organic growth +5.8% 682.9 1.7 1.6 679.8 -3.1 666.8 20.7 -21.2 13.2 +6.9% 645.6 +3.8% H1 2020 FX H1 2020 (FXN) P&D PPG GAT HQ, Cons. H1 2021 (FXN) FX H1 2021 19 13/07/2021 Q2 2021 Earnings Presentation
Slide 20: Q2 2021: EBITDA & Organic Growth Reconciliation
Q2 2021: EBITDA & Organic Growth Reconciliation (3 of 4) in EUR m organic growth 84.2 3.9% 83.0 0.2 0.5 81.9 -4.3 -1.1 2.8 79.9 -0.5 -0.9% +7.8% Q2 2020 FX Q2 2020 (FXN) P&D PPG GAT HQ, Cons. Q2 2021 (FXN) FX Q2 2021 22.7% Organic Adj. EBITDA margin 22.0% 23.2% Reported Adj. EBITDA margin 21.7% 20 1
Slide 21: H1 2021: EBITDA & Organic Growth Reconciliation
H1 2021: EBITDA & Organic Growth Reconciliation (4 of 4) in EUR m organic growth 6.1% 138.3 2.7 136.1 135.3 -2.2 1.5 0.2 -4.9 3.4 130.4 0.3% +4.0% H1 2020 FX H1 2020 (FXN) P&D PPG GAT HQ, Cons. H1 2021 (FXN) FX H1 2021 20.2% Organic Adj. EBITDA margin 20.3% 20.3% Reported Adj. EBITDA margin 20.0% 21
Slide 22: Financial Headroom
Financial Headroom Net Financial Debt & Adjusted EBITDA Leverage Net financial debt according to credit agreement in force Maturity Profile In EUR m Net Financial Debt 1,014 (EUR m)1 976 Promissory Loan 3.2 3.3 RCF Adj. EBITDA leverage (x) 664 May-20 May-21 188 In EUR m Q2 2021 Q2 2020 Drawn portion
Slide 23: Reconciliation H1 2021
Reconciliation H1 2021 Reported and Adjusted Financials H1 2021 H1 2020 Organic growth YoY In EUR m Reported Adjustment Adjusted Adjusted Adjusted Revenues 679.8 679.8 666.8 +5.8% EBITDA 127.4 8.7 136.1 135.3 +6.1% Depreciation & -65.8 17.9 -47.9 -54.6 Amortization EBIT 61.5 26.6 88.2 80.7 Financial
Slide 24: Capex Burdening FCF Performance
Capex Burdening FCF Performance Cash Flow and Financial Debt In EUR m H1 2021 H1 2020 Change Comments Adjusted EBITDA 136.1 135.3 0.8 EUR -7.0m negative FX effects Change in net working capital -78.1 -75.7 -2.5 Net interest paid -4.0 -4.7 0.7 Q2 20 driven by one-time tax effects (∆ Net taxes paid -2
Slide 25: serresheimer
serresheimer innovating for a better life