Gerresheimer Ag · XETR:GXI
Gerresheimer — Merger or Acquisition (May 2024)
16 slides from Gerresheimer's merger presentation, May 23, 2024
Slide 1: Acquisition of Bormioli Pharma; Higher Profitability Expected; Strategic Review of New Moulded Glass
Acquisition of Bormioli Pharma; Higher Profitability Expected; Strategic Review of New Moulded Glass Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Düsseldorf, May 23, 2024
Slide 2: Disclaimer
Disclaimer This publication can contain forward-looking statements relating to key issues as strategy, future financial results, events, competitive positions and product developments of the Company, the Gerresheimer group or the industry in which the Gerresheimer group operates. Such forward-lookin
Slide 3: Acquisition of Bormioli Pharma Strengthening Our Systems Integration
Acquisition of Bormioli Pharma Strengthening Our Systems Integration – Strategic Review of New Moulded Glass – Accelerating our Transformation ▪ Bormioli Pharma highly strategic and complementary with our existing portfolio and footprint ▪ Profitable growth track record, attractive margins and cash
Slide 4: Transaction Summary
Transaction Summary ▪ Italy based manufacturer of plastic and moulded glass solutions for pharma markets Bormioli ▪ Revenues of ~€370m with adj EBITDA margin of ~21%, per FY24E1 Pharma ▪ 60-70% normalized cash conversion2 Key Transaction Terms Key Financials ▪ Outlook for Bormioli Pharma: ▪ Acquirin
Slide 5: Key Acquisition Highlights – Strong Strategic Fit Across Portfolio
Key Acquisition Highlights – Strong Strategic Fit Across Portfolio ▪ Complementary offering of primary pharma plastic and moulded glass containment solutions ▪ Enhancing Gx’s Primary Plastics portfolio with full range of smart closures, rubber stoppers, accessories for containers Highly and dual cha
Slide 6: Accelerating the Transformation of Gerresheimer
Accelerating the Transformation of Gerresheimer Accretive to Our Stated Financial Ambitions New Moulded Glass Powerhouse – Strategic Review Initiated Mid-term Guidance Acquisition Impact Revenue ▪ Enables creation of a new global Pharma and Growth ≥ 10% CAGR Unchanged Cosmetics Moulded Glass Powerho
Slide 7: The New Gerresheimer – Creation of Three Market Leading Platforms
The New Gerresheimer – Creation of Three Market Leading Platforms Strategic Review ~30% Moulded Glass Initiated ▪ Global Moulded Glass Powerhouse ▪ Includes Pharma Type I, II, III, Cosmetics and Food & Beverage ~40% Containment Solutions solutions ▪ Mid single digit revenue growth ▪ Bring the drug t
Slide 8: Bormioli Pharma – Business Overview
Bormioli Pharma – Business Overview General Information Product Overview • Established in 1825, Bormioli Pharma is a leading pharma primary packaging manufacturer Leading Primary Pharma Solutions Provider with a Differentiated Offering • HQ: Italy Description • ~1,500 employees − Solutions for oral
Slide 9: Truly Complementary Portfolio Completing Solutions Offering to Pharma Customers
Truly Complementary Portfolio Completing Solutions Offering to Pharma Customers PHARMA PLASTICS GLASS Rubber Pharma Oral Oral Dual Child Proof / Food & Ophthalmic Accessories Stoppers / Cosmetics Solid Liquid Chamber TE Closures Beverage Seals Type I Type II Type III (✓) (✓) ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ In Europ
Slide 10: Enabling Integrated Solutions Offering Supporting Differentiation and Value Add for Customers
Enabling Integrated Solutions Offering Supporting Differentiation and Value Add for Customers A B C Gx strong presence Bormioli Pharma Gx strong presence in Gx strong offering of Bormioli Pharma offering in bottles and Integrated Primary strong offering in Bormioli Pharma strong EZ-fill Smart™ in ru
Slide 11: The New Gerresheimer – Solid Foundation Platform Bolstered With Growth Accelerators
The New Gerresheimer – Solid Foundation Platform Bolstered With Growth Accelerators Growth Accelerators Tubular Smart Vials and Syringes Digital Other Devices High Value Cartridges / GAT Pharma Plastics (EZ-fill Smart™) Strategic Review Initiated Solid Foundation Platform Primary US Base Tubular Med
Slide 12: Creation of Moulded Glass Powerhouse in Parental Pharma and Cosmetics
Creation of Moulded Glass Powerhouse in Parental Pharma and Cosmetics Strategic Review Initiated 1 Adj EBITDA Margin Organic Revenue Growth • Creation of new moulded Sales 2024E1 (€m) Adj EBITDA Margin 2024E1 Mid Term Mid Term glass powerhouse Robust Financial • Greater size, scale, and Trajectory w
Slide 13: Prudent Financing Structure With Acquisition Bridge
Prudent Financing Structure With Acquisition Bridge Bridge Financing ▪ To be financed through committed bridge loan provided by existing relationship banks Long Term Financing ▪ Acquisition bridge refinanced through various permanent financing options ▪ Leverage temporarily higher at mid to high-3x
Slide 14: Acquisition of Bormioli Pharma Strengthening Our Systems Integration
Acquisition of Bormioli Pharma Strengthening Our Systems Integration – Strategic Review of New Moulded Glass – Accelerating our Transformation ▪ Bormioli Pharma highly strategic and complementary with our existing portfolio and footprint ▪ Profitable growth track record, attractive margins and cash
Slide 15: Q&A
Q&A Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO
Slide 16: innovating for a better life
innovating for a better life