Slide 1: Announcement of Q3 2009 Results
Announcement of Q3 2009 Results Conference Call October 15, 2009 3:00 p.m. CEST Dr. Axel Herberg, CEO Hans-Jürgen Wiecha, CFO 0
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 Key Facts Q3 2009 and Guidance FY 2009 Dr. Axel Herberg, CEO Financial Overview Q3 2009 Hans-Jürgen Wiecha, CFO 2
Slide 4: Q3 2009: Destocking effects reached bottom
Q3 2009 : Destocking effects reached bottom Q3 2009 performance turned out to be as weak as expected Cosmetics and Life Science Research still hit by economic downturn Pharma business remained robust Capacity and cost adjustments kept margin on a high level Investments in growth projects e
Slide 5: Future growth based on recent investments in Plastic Systems
Future growth based on recent investments in Plastic Systems Technological Competence Center Peachtree City (Georgia/USA) Joint product and process development in cooperation with customers Preparation of customized serial production Production Facility for Plastic Packaging Masalavés (Valen
Slide 6: Market segments - Update
Market segments - Update Q1 2009 Q2 2009 Q3 2009 Q4 2009 Pharma + + - + Cosmetics - - - - - - - - Life Science - - - - - - - Research Group net sales 2009: -2.5 to -3.5%1 1 At constant FX rate 5
Slide 7: Update on Guidance FY 2009
Update on Guidance FY 2009 Total Group (excl. TPS) Prior Guidance1 Guidance1 Update Net Sales +1% to -3% as reported2 -1.5% to -2.5% as reported2 0% to -4% at const. FX rate -2.5% to -3.5% at const. FX rate Adj. EBITDA 18.0 to 18.5% Mid 18% margin Capex Investments of Investments of EUR 85m to 90m E
Slide 8: Agenda
Agenda Key Facts Q3 2009 and Guidance FY 2009 Dr. Axel Herberg, CEO Financial Overview Q3 2009 Hans-Jürgen Wiecha, CFO 7
Slide 9: Q3 2009 Group net sales and EBITDA
Q3 2009 Group net sales and EBITDA EUR m Total Group Total Group ex TPS Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q3 2009: 17.3% constant exchange Q3 2009: 17.6% rate: -10.5% Q3 2008: 18.8% rate: -6.6% Q3 2008: N/A -9.5% -5.3% 268.0 242.6 250.2
Slide 10: Tubular Glass
Tubular Glass EUR m Adj. EBITDA margin: Net sales growth Q3 2009: 23.8% at constant exchange rate: -7.1% Q3 2008: 24.6% -4.5% 77.6 74.1 -7.9% 19.1 17.6 Net sales Adj. EBITDA1 Q3 2008 Q3 2009 1 Earnings before financial result, income taxes, amortization of fair value adjustments, extraordinary depre
Slide 11: Plastic Systems
Plastic Systems EUR m Plastic Systems Plastic Systems ex TPS Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q3 2009: 22.1% constant exchange Q3 2009: 23.3% rate: -13.0% Q3 2008: 17.5% rate: +1.3% Q3 2008: N/A -14.8% 87.8 -1.3% 74.8 70.0 69.1 +7.1% 1
Slide 12: Moulded Glass
Moulded Glass EUR m Adj. EBITDA margin: Net sales growth Q3 2009: 14.7% at constant exchange rate: -11.9% Q3 2008: 20.8% -10.6% 83.7 74.8 -36.8% 17.4 11.0 Net sales Adj. EBITDA1 Q3 2008 Q3 2009 1 Earnings before financial result, income taxes, amortization of fair value adjustments, extraordinary de
Slide 13: Life Science Research
Life Science Research EUR m Adj. EBITDA margin: Net sales growth Q3 2009: 9.2% at constant exchange rate: -12.9% Q3 2008: 12.7% -4.8% 22.9 21.8 -31.0% 2.9 2.0 Net sales Adj. EBITDA1 Q3 2008 Q3 2009 1 Earnings before financial result, income taxes, amortization of fair value adjustments, extraordinar
Slide 14: Q3 2009 P&L overview
Q3 2009 P&L overview EUR m Q3 2009 Q3 2008 Net sales 242.6 268.0 Adjusted EBITDA1 42.0 50.3 EBITDA 41.1 50.5 Profit from operations 12.9 -10.9 Net income before taxes 3.0 -21.0 Net income -4.0 -22.8 Adjusted net income2 7.9 16.5 EPS -0.11 -0.73 Adjusted EPS3 0.20 0.52 1 Earnings before financial res
Slide 15: Financial key figures
Financial key figures EUR m Aug 31, 2009 Aug 31, 2008 Equity 466.5 480.2 -2.9% Equity ratio in % 33.9 33.6 Net working capital1 180.8 205.9 -12.2% in % of LTM net sales 17.7 19.7 Net financial debt2 430.7 437.8 -1.6% Adjusted EBITDA leverage 2.3 2.1 - Q3 2009 Q3 2008 CF from operating activities 37.
Slide 16: Financing structure
Financing structure Debt/cash positions in EUR m1 Interest rate Due by Net financial debt 430.7 Bond 126.0 7.9%; Fixed coupon 2015 5.7%; Hedged 100% Long-term bank debt 209.6 2012 / 2013 until Sep 2010 55bps over Euribor/Libor, Revolving bank debt 75.1 2012 / 2013 Headroom: EUR 99.9m Local borrowing
Slide 17: Financial Calendar
Financial Calendar February 10, 2010 Annual Report 2009 April 14, 2010 Interim Report 1st Quarter 2010 April 29, 2010 Annual General Meeting July 14, 2010 Interim Report 2nd Quarter 2010 October 6, 2010 Interim Report 3rd Quarter 2010 16
Slide 18: 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 17
Slide 19: Q1-Q3 2009 net sales and EBITDA
Q1-Q3 2009 net sales and EBITDA EUR m Total Group Total Group ex TPS Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q1-Q3 2009: 17.2% constant exchange Q1-Q3 2009: 17.9% rate: -7.1% Q1-Q3 2008: 18.8% rate: -4.1% Q1-Q3 2008: N/A -5.0% -1.7% 783.4 744
Slide 20: Q1-Q3 2009: Tubular Glass
Q1-Q3 2009: Tubular Glass EUR m Adj. EBITDA margin: Net sales growth Q1-Q3 2009: 23.6% at constant exchange rate: -2.2% Q1-Q3 2008: 24.5% +1.7% 221.3 225.0 -1.8% 54.2 53.2 Net sales Adj. EBITDA1 Q1-Q3 2008 Q1-Q3 2009 1 Earnings before financial result, income taxes, amortization of fair value adjust
Slide 21: Q1-Q3 2009: Plastic Systems
Q1-Q3 2009: Plastic Systems EUR m Plastic Systems Plastic Systems ex TPS Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q1-Q3 2009: 19.9% constant exchange Q1-Q3 2009: 22.9% rate: -6.1% Q1-Q3 2008: 18.3% rate: +5.5% Q1-Q3 2008: N/A -7.8% 258.6 +3.2%
Slide 22: Q1-Q3 2009: Moulded Glass and Life Science Research
Q1-Q3 2009: Moulded Glass and Life Science Research EUR m Moulded Glass Life Science Research Net sales growth at Adj. EBITDA margin: Net sales growth at Adj. EBITDA margin: constant exchange Q1-Q3 2009: 15.7% constant exchange Q1-Q3 2009: 9.2% rate: -11.1% Q1-Q3 2008: 21.1% rate: -12.8% Q1-Q3 2008:
Slide 23: Q3 2009 reconciliation from adjusted EBITDA to net income after minorities
Q3 2009 reconciliation from adjusted EBITDA to net income after minorities EUR m Q3 2009 Q3 2008 Adjusted EBITDA 42.0 50.3 Restructuring expenses 0.3 1.1 Exceptional income/ expense 0.6 -1.3 EBITDA 41.1 50.5 Fair value amortization 9.5 10.7 Depreciation 18.7 17.8 Book loss from disinvestment 0.0 33.