Gerresheimer Ag · XETR:GXI
Gerresheimer — Commerzbank German Investment Seminar New York 2011
24 slides from Gerresheimer's conference presentation, Jan 10, 2011
Slide 1: Gerresheimer – A Leading Partner for the Pharma and Healthcare Industry
Gerresheimer – A Leading Partner for the Pharma and Healthcare Industry Commerzbank German Investment Seminar New York January 10+11, 2011 Uwe Röhrhoff, CEO
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: Gerresheimer – Who we are and what we do
Gerresheimer – Who we are and what we do Gerresheimer is an important partner of the pharmaceutical and healthcare industry. Innovations in the application of pharmaceutical products are innovations that people benefit from and which improve their quality of life. Our products make a practical
Slide 4: Gerresheimer at a glance
Gerresheimer at a glance Consolidated net revenues LTM August 2010: EUR 1,009.0m EUR 312.2m; 31% EUR 298.0m; 29% EUR 321.9m; 31% 91.1m; 9% Tubular Glass Plastic Systems Moulded Glass Life Science Research adj. EBITDA margin: adj. EBITDA margin: adj. EBITDA margin: adj. EBITDA 24.5% 24.3% 20.6% margi
Slide 5: Gerresheimer is a global player
Gerresheimer is a global player Region Locations Employees Europe 19 5,252 Americas 14 2,860 Asia 7 1,433 Total 40 9,545 As of August 31, 2010 5
Slide 6: 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 OTC Liquids Glass Other Plastic Product Tubing Syringes Injectables Packaging lation Diagn
Slide 7: Well-diversified blue-chip customer base
Well-diversified blue-chip customer base Net revenues to TOP 50 customers Pharma and healthcare Other (FY 2009) in EUR m 359 61% 58% 53% Cumulative 46% share 36% 105 65 48 32 Top 10 11-20 21-30 31-40 41-50 Gerresheimer has close long-term relationships with …with limited dependence on individual cus
Slide 8: Solutions across all key product categories
Gerresheimer provides its pharma and healthcare customers with 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
Slide 9: Selected growth opportunities
Selected growth opportunities Pharmerging Generics Markets RTF® syringes Diabetes Acquisitions 9
Slide 10: Our strategy is built to deliver
Our strategy is built to deliver Profitable growth Leading competitive Attractiveness for the position financial markets 10
Slide 11: Q1-Q3 2010 Revenues, adjusted EBITDA and adjusted EPS
Q1-Q3 2010 Revenues, adjusted EBITDA and adjusted EPS Q1-Q3 ‘10 vs. Q1-Q3 ’09 Reported Growth at Const. FX Revenues EUR m EUR m Growth in % Rate in % Total Group2 753.0 +38.1 +5.3 +4.4 Q1-Q3 ‘10 vs. Q1-Q3 ’09 Q1-Q3 ‘10 Q1-Q3 ‘09 Adjusted EBITDA1 EUR m Growth in % Margin in % Margin in % Total Group2
Slide 12: 2010 Key financial figures
2010 Key financial figures August 31, 2010 August 31, 2009 EUR m EUR m in % Equity 509.3 466.5 +9.2 Equity ratio in % 37.7 34.7 Net Working Capital 1 179.3 180.8 -0.8 in % of LTM revenues 17.8 17.7 Net Financial Debt 2 356.6 430.7 -17.2 Adjusted EBITDA leverage 1.7 2.3 n/a Q1-Q3 2010 Q1-Q3 2009 EUR
Slide 13: Confirmation of FY 2010 Guidance
Confirmation of FY 2010 Guidance 20091 Guidance 2010 Confirmed Guidance (as of Feb 10, 2010) 2010 (as of July 14, 2010) Net Revenues 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
Slide 14: Appendix
GERRESHEIMER
Slide 15: Q3 2010 P&L overview
Q3 2010 P&L overview Q3 2010 Q3 2009 EUR m EUR m in % Total revenues ex TPS 259.4 236.9 +9.5 Adjusted EBITDA1 53.3 42.0 +26.9 EBITA 32.1 22.4 +43.3 Amortization of FV adjustments 5.8 9.5 -39.0 Profit before interest and taxes (EBIT) 26.3 12.9 >100 Financial result -8.9 -9.9 -10.1 Profit before taxes
Slide 16: Q3 2010 Revenues by division
Q3 2010 Revenues by division EUR m Reported growth [%] FXN1 [%] Total revenues 259.4 +6.9 +3.4 Total revenues ex TPS 259.4 +9.5 +5.8 Tubular Glass 77.3 +4.3 -0.7 Plastic Systems 75.3 +0.7 -0.9 Plastic Systems ex TPS 75.3 +9.0 +7.1 Moulded Glass 85.2 +13.9 +11.5 Life Science Research 25.8 +18.3 +8.0
Slide 17: Q3 2010 Adjusted EBITDA & margin by division
Q3 2010 Adjusted EBITDA1 & margin by division Q3 2010 vs. Q3 2009 Q3 2010 Q3 2009 EUR m [Growth in %] [Margin in %] [Margin in %] Total Group 53.3 +26.9 20.5 17.3 Total Group ex TPS 53.3 +28.1 20.5 17.6 Tubular Glass 18.3 +4.0 23.7 23.8 Plastic Systems 17.5 +6.1 23.2 22.1 Plastic Systems ex TPS 17.5
Slide 18: Q3 2010 Key financial figures
Q3 2010 Key financial figures August 31, 2010 August 31, 2009 EUR m EUR m in % Equity 509.3 466.5 +9.2 Equity ratio in % 37.7 34.7 Net Working Capital 1 179.3 180.8 -0.8 in % of LTM revenues 17.8 17.7 Net Financial Debt 2 356.6 430.7 -17.2 Adjusted EBITDA leverage 1.7 2.3 n/a Q3 2010 Q3 2009 EUR m E
Slide 19: Financing structure
Financing structure Comparison Comparison ofof debt/cash debt/cash positions positions in m in EUR EUR m Net Financial Debt Q3 2009: 430.7m Q3 2010: 356.6m Interest rate (due date): Bond 126.0 126.0 7.9%; Fixed coupon (2015) Hedged interest rate: 5.7% Long-term bank debt 209.6 until Sep 2010. As fro
Slide 20: Q1-Q3 2010 P&L overview
Q1-Q3 2010 P&L overview Q1-Q3 2010 Q1-Q3 2009 EUR m EUR m in % Total revenues ex TPS 753.0 714.9 +5.3 Adjusted EBITDA1 147.9 127.8 +15.7 EBITA 82.0 62.5 +31.2 Amortization of FV adjustments 18.6 28.6 -35.0 Profit before interest and taxes (EBIT) 63.4 33.9 +87.0 Financial result -26.9 -30.6 -12.1 Pro
Slide 21: Q1-Q3 2010 Revenues by division
Q1-Q3 2010 Revenues by division EUR m Reported growth [%] FXN1 [%] Total revenues 753.0 +1.2 +0.2 Total revenues ex TPS 753.0 +5.3 +4.4 Tubular Glass 234.3 +4.1 +3.0 Plastic Systems 221.6 -7.1 -8.4 Plastic Systems ex TPS 221.6 +6.0 +4.4 Moulded Glass 238.9 +6.2 +6.0 Life Science Research 69.8 +5.8 +
Slide 22: Q1-Q3 2010 Adjusted EBITDA & margin by division
Q1-Q3 2010 Adjusted EBITDA1 & margin by division Q1-Q3 2010 vs. Q1-Q3 ’09 Q1-Q3 2010 Q1-Q3 2009 EUR m [Growth in %] [Margin in %] [Margin in %] Total Group 147.9 +15.7 19.6 17.2 Total Group ex TPS 147.9 +15.5 19.6 17.9 Tubular Glass 56.3 +5.8 24.0 23.6 Plastic Systems 51.3 +8.0 23.1 19.9 Plastic Sys
Slide 23: Financial calendar
Financial calendar February 10, 2011 Annual Report 2010 April 7, 2011 Interim Report 1st Quarter 2011 April 14, 2011 Annual General Meeting July 13, 2011 Interim Report 2nd Quarter 2011 October 6, 2011 Interim Report 3rd Quarter 2011 23
Slide 24: 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 24
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