Gerresheimer Ag · XETR:GXI
Gerresheimer — Q3 2023 Earnings Presentation
26 slides from Gerresheimer's earnings presentation, Oct 5, 2023
Slide 1: Q3 2023 Results Presentation
Q3 2023 Results Presentation Dietmar Siemssen, CEO Dr. Bernd Metzner, CFO Duesseldorf, October 5, 2023
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: Strategic Partner of Choice for Global Pharma and Biotech Industry
Strategic Partner of Choice for Global Pharma and Biotech Industry Digital Containment Eco-System Solutions Digital therapy support Bring the drug to the patient Drug Devices & Delivery Systems Bring the drug into the patient 3 5-October-2023 Gerresheimer AG - Q3 2023 Results Presentation
Slide 4: Solid Q3 2023: Profitable Growth Momentum Continues
Solid Q3 2023: Profitable Growth Momentum Continues Key Take-Aways: Strong Orderbook Including New GLP-1 Contracts Double-Digit Execution on growth Strong Adj. EBITDA Adj. EBITDA growth projects according growth and margin Revenue growth Adj. EBITDA growth: to plan expansion in Q3 +5.5% (FXN) +16.4%
Slide 5: Strong Foundation Strengthens our Success
Strong Foundation Strengthens our Success Strategic Partner of Choice for Global Pharma and Biotech Solutions Innovative and broad product Customer centricity – portfolio addressing global cross-divisional innovation and megatrends leveraging on synergies Operational Excellence Leadership: Fully com
Slide 6: Dedicated Products for Key Therapeutic Areas Addressing Customer's Needs
Dedicated Products for Key Therapeutic Areas Addressing Customer's Needs Global Full-service Provider for Small, Mid and Large Pharma and Biotech Companies Chronic & Autoimmune Respiratory Diseases Diabetes & Metabolism Cell & Gene Therapy Obesity/ GLP-1 Cardiovascular Vaccines & Diseases Infectious
Slide 7: Additional Profitable Growth Through New GLP-1 Contracts
Additional Profitable Growth Through New GLP-1 Contracts Our Systems and Solutions Open Unique Growth Opportunities Contracts with the leading GLP-1 players New GLP-1 contracts in Significant large business the area of syringes, Highly margin opportunities lead to expansion autoinjectors, pens and a
Slide 8: Dedicated Products for Key Therapeutic Areas Addressing Customers Needs
Dedicated Products for Key Therapeutic Areas Addressing Customers Needs Benefitting From Our Broad Product Portfolio - Examples Inhalers and Autoinjectors Gx Inbeneo Gx Obesity Care Solutions Gx RTF COP vials/syringes Gx SenseAir Patch pump platform Gx RTF ClearJect syringes Gx Pump solutions Gx Sil
Slide 9: …into a sustainable profitable growth company
…into a sustainable profitable growth company From a flat development… 2015 2019 2020 2021 2022 2023 9 5-October-2023 Gerresheimer AG - Q3 2023 Results Presentation
Slide 10: Strong performance in Q3 2023
Strong performance in Q3 2023 Dr. Bernd Metzner (CFO)
Slide 11: Solid Q3 2023: Profitable Growth Momentum Continues
Solid Q3 2023: Profitable Growth Momentum Continues Strong Adj. EBITDA Growth organic growth Revenues Adj. EBITDA Adj. EPS (in EUR m) (in EUR m) (in EUR) 5.5% 16.4% 4.4% 100 488 473 91 103 1.15 1.07 462 487 88 1.13 1.18 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Reported Organic (adjusted for e
Slide 12: Strong Profit Performance
Strong Profit Performance Q3 2023: Divisional Performance and Highlights Organic yoy & margin1 In EUR m1 Revenues Adj. EBITDA Double-digit Adj. EBITDA growth +8.7% +11.4% 261 244 63 ▪ Solid org. revenue growth of 8.7% resulting from higher 59 P&D customer demand across all business areas 24.1% 24.7%
Slide 13: Reconciliation Q3 2023: Positive EPS Development
Reconciliation Q3 2023: Positive EPS Development Reported and Adjusted Financials Q3 2023 Q3 2022 Org. growth YoY2 Comments In EUR m1 Reported Adjustment Adjusted Adjusted Adjusted Revenues 487.9 487.9 473.0 5.5% EBITDA 98.0 2.0 100.0 90.5 16.4% Depreciation & -44.4 9.7 -34.7 -30.1 Amortization EBIT
Slide 14: Good FCF Performance
Good FCF Performance Free Cash Flow and Net Financial Debt In EUR m1 Q3 2023 Q3 2022 Change Comments Adjusted EBITDA 100.0 90.5 9.5 Earnings significantly increased Change in net working capital 74.3 -4.7 79.0 Prepayments from customers Net interest paid -5.4 -3.1 -2.3 Net taxes paid -11.8 -4.9 -6.9
Slide 15: Outlook
Outlook Dietmar Siemssen (CEO)
Slide 16: Guidance Confirmed
Guidance Confirmed Well Positioned to Deliver on FY 2023 and Mid-Term Guidance Group level guidance1 focused on three key drivers of shareholder value Revenue Adjusted EBITDA Adjusted EPS ≥ 10% Low ≥ 10% single-digit (Adj. EBITDA FY 2023 growth growth) growth ≥ 10% 23 - 25% ≥ 10% Mid-term growth (Ad
Slide 17: Financial Calendar
Financial Calendar Publication 3rd Quarter 2024 Results Publication 2nd Quarter/ Half-year 2024 Results Publication 1st Quarter 2024 Results Publication Financial Year 2023 Results October 10th, 2024 July 11th, 2024 April 11th, 2024 February 22nd, 2024 17 5-October-2023 Gerresheimer AG - Q3 2023 Res
Slide 18: innovating for a better life
innovating for a better life
Slide 19: Appendix
Appendix
Slide 20: Q3 Revenue & Organic Growth Reconciliation
Q3 Revenue & Organic Growth Reconciliation (1 of 2) in EUR m1 organic growth +5.5% 487.3 0.6 487.9 -2.2 1.0 5.8 +2.6% 473.0 20.7 462.1 -10.9 +8.7% Revenue Q3 2022 FX Revenue Q3 P&D PPG GAT HQ, Cons. Revenue Q3 FX Revenue Q3 2023 2022 (FXN) 2023 (FXN) 1. Due to the commercial rounding of figures, sma
Slide 21: Q3 Adj. EBITDA & Organic Growth Reconciliation
Q3 Adj. EBITDA & Organic Growth Reconciliation (2 of 2) in EUR m1 organic growth & margin +16.4% 0.7 -1.3 102.9 100.0 8.5 -2.9 90.5 6.6 88.4 -2.1 Adj. EBITDA FX Adj. EBITDA P&D PPG GAT HQ, Cons. Adj. EBITDA FX Adj. EBITDA Q3 2022 Q3 2022 (FXN) Q3 2023 (FXN) Q3 2023 1. Due to the commercial rounding
Slide 22: 9M Revenue & Organic Growth Reconciliation
9M Revenue & Organic Growth Reconciliation (1 of 2) in EUR m1 organic growth +12.6% 6.9 1,445.3 1,438.4 -1.6 0.4 65.6 96.2 1,288.4 1,277.8 -10.6 Revenue 9M 2022 FX Revenue 9M P&D PPG GAT HQ, Cons. Revenue 9M FX Revenue 9M 2023 2022 (FXN) 2023 (FXN) 1. Due to the commercial rounding of figures, small
Slide 23: 9M Adj. EBITDA & Organic Growth Reconciliation
9M Adj. EBITDA & Organic Growth Reconciliation (2 of 2) in EUR m1 organic growth & margin +20.6% -2.0 -5.3 291.0 285.2 27.1 -5.7 30.0 242.1 241.2 -0.9 Adj. EBITDA FX Adj. EBITDA P&D PPG GAT HQ, Cons. Adj. EBITDA FX Adj. EBITDA 9M 2022 9M 2022 (FXN) 9M 2023 (FXN) 9M 2023 1. Due to the commercial roun
Slide 24: Reconciliation 9M 2023
Reconciliation 9M 2023 Reported and Adjusted Financials 9M 2023 9M 2022 Org. growth YoY2 In EUR m1 Reported Adjustment Adjusted Adjusted Adjusted Revenues 1,445.3 1,445.3 1,288.4 12.6% EBITDA 279.3 5.9 285.2 242.1 20.6% Depreciation & Amortization -135.0 29.2 -105.8 -88.1 EBIT 144.3 35.1 179.4 154.0
Slide 25: FCF Performance 9M 2023
FCF Performance 9M 2023 Free Cash Flow and Net Financial Debt In EUR m1 9M 2023 9M 2022 Change Comments Adjusted EBITDA 285.2 242.1 43.1 Earnings significantly increased Change in net working capital -38.5 -96.1 57.6 Prepayments from customers Net interest paid -20.9 -7.3 -13.6 Net taxes paid -43.6
Slide 26: Financial Headroom
Financial Headroom Net Financial Debt & Adjusted EBITDA Leverage Net Financial Debt according to credit agreement in force Maturity Profile In EUR m In EUR m 1,111 Net Financial Debt Promissory loans (In EUR m)1 909 Revolving credit facilities (RCF) Adj. EBITDA leverage 3.3 2.3 Aug-23 Aug-22 200 In