Investor Presentation - Gerresheimer...Investor Presentation 10 The strategic relevant core market for Gerresheimer is today ~ € 15bn Cosmetics Glass Pharma Glass1 Pharma Plastic

Investor Presentation

Q2 2019

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 or performance of the Company to differ materially from the

estimations expressed or implied herein.

The Company does not guarantee that the assumptions underlying such forward-looking statements are free from

errors nor does the Company accept any responsibility for the future accuracy of the opinions expressed in this

presentation or the actual occurrence of the forecast development.

No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any

information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is

accepted as to any errors, omissions or misstatements contained herein, and, accordingly, none of the Company or

any of its parent or subsidiary undertakings or any of such person‘s officers, directors or employees accepts any

liability whatsoever arising directly or indirectly from the use of this document.

For an overview of abbreviations and definition please see the glossary slide in the backup section

Disclaimer

Investor Presentation 2

Gerresheimer at a glance P. 4

Agenda

3Investor Presentation

1

5

4

2

3

Excellent fundament for profitable growth P. 7

Another good performance in Q2 2019 P. 16

Operational and financial framework for 2019-2022 P. 23

Appendix P. 26

Pharmaceutical packaging solutions made out of glass and plastics

Primary packaging products and medical devices for storage, dosage and safe administration

of drugs as well as packaging for the cosmetics industry

A leading international manufacturer for the global pharma and

healthcare industry


34%

22%

27%

15%2%

Strong business foundations, developing our business model

beyond our current setup to capture longer term potential

5

Plastics & Devices

REVENUE SPLIT BY SECTOR

Pharma & Healthcare: 82%

Cosmetics: 13%

Others: 5%

82%

13%5%

1. According to IQVIA definition of emerging markets for FY 2018. For further details see note 8 of consolidated financial statements within FY 2018

annual report

2. Incl. Sensile Medical since July 2018, and respimetrix since February 2019

Primary Packaging Glass

Revenues

2018

EUR 605.3m

Adj. EBITDA

2018

EUR 114.7m

Margin

2018

19.0%

Revenues

2018

EUR 751.3m

Adj. EBITDA

2018

EUR 203.0m

Margin

2018

27.0%

Solid financial profile Leading market positions in

attractive niche markets

Revenues

FY 2017

EUR 1,348.3m

Adj. EBITDA

FY 2018

EUR 298.6m

Strong Cash Flow generation

and lower capital intensity

Op. CF margin at 12.3% for FY 2018

Leverage at 3.1x as of Nov 30, 2018

#1 in Europe for plastic

packaging and

inhalation

#1 in the US for

prescription and

injectables

#2 in Europe for

diabetes, pens

and syringes

Strong emerging market

presence in South America,

India and China for plastic

packaging, pens, moulded

glass, ampoules, vials and

cartridges

REVENUE SPLIT BY REGIONS

Europe (ex. GER): 34%

Germany: 22%

Americas: 27%

Emerging markets1: 15%

Other regions: 2%

Well invested assets &

factories, solid customer

basis

38 plants in

14 countries

Delivering to

95 countries over 5

continents

Over

1500customers

Supplying all

Top 10 Pharma customers

Advanced Technologies

Largest customer makes up for only 7% of total

revenues

Clearly identified

revenues streams

Technology & Platform operator

Created July 20182

Revenues

2018

EUR 12.9m

Adj. EBITDA

2018

EUR 1.9m


Revenues

EUR 1.37bn


Agenda


1

5

4

2

3




Appendix P. 26

A solid base in place to launch the next phase of our journey


1

2

Great human capital

New management

Solid platform to

capitalize on market

trends

S T R O N G

F O U N D AT I O N S

3

4Advanced Technologies

is clearly upgrading our

business model

Attractive growth

opportunities in

existing core business

I D E N T I F I E D

P O T E N T I AL

5

Decisive steps to

accelerate mid-term

earnings growth have

been made in FY 2018,

leading to significant

investments in FY 2019

and FY 2020

E X E C U T I O N

U N D E RWAY

Great human capital. Management board complete and

stabilized

8

Pride and commitment in

manufacturing products that contribute

to health and well being

Strong engineering and production

DNA

Process and quality driven

Solid middle management with broad

industry experience

COMPLETE AND STABILIZED

Proven track record in driving business

expansion organically and un-organically

Production and engineering background

applied to various industries

Great human capital New management board


1

Strong foundations to capitalize on market trends


Personalization

Compliance and Documentation

Cost efficiency

Pain reduction

Quality

Expectations from customers,

consumers, patients

Rise in chronic diseases

and aging population

Rapid growth in

generics

Growing healthcare

provision

in Emerging Markets

Megatrends

Stricter regulatory

requirements

New drugs especially

in Biosimilars and

Biotech

Growing trend toward

to self medication

Gx offers a great platform for future growth in both Pharma & Healthcare as well as Cosmetics

Leading global player in

Healthcare & Cosmetics

Packaging

Solid and balanced blue chip

customer base with long-term

relationships

Well invested global

manufacturing footprintEnhanced product portfolio

2

1. Tubular Glass + Moulded Glass Pharma

2. Strategic relevant markets, Gerresheimer estimates

Gerresheimer is operating in large and attractive markets


The strategic relevant core market for Gerresheimer is today ~ € 15bn

CosmeticsGlass

PharmaGlass1

PharmaPlastic

Syringes

Drug DeliveryDevices

~ 1.8

LOW SINGLE DIGIT

~ 2.2 ~ 5.8 ~ 0.9

MID SINGLE DIGIT

~ 4.0Estimated Market

Size 2017² (in € bn)

Market CAGR '17-’22²

(in %)

2

Clear definition of target markets in Pharma & Healthcare …


Filling machines

Formulation

PHARMA

VALUE

CHAINResearch

Product &

Process

Development

ProductionPrimary

PackagingLogistics

Marketing &

SalesServices

Delivery

Systems &

Assembly

Blisters

Su

pp

lie

rs

MUST

HAVESSuperior product and

Technologies1 Cost leadership2 Min. #3 for market shares3

HA

RD

WA

RE

CO

NS

UM

AB

LE

SS

ER

VIC

ES

Tools, Assembly lines for devices

Primary packaging glass & plastic,syringes,closures

Inhalation,injection

Device design& dev.

Gx

stra

teg

ic re

leva

nt m

ark

et

(Pre-) assembly

Logistics

Infusion, trans-dermal, implants, eye treatment, ear-nose-throat

Product analytics(e.g. sterility)

Filling

Gx accessible market

3

… as well as in Cosmetics


Filling machines

Moulded Glass Packaging Samples & Decoration

Components

(Pumps & Caps)

Formulation Innovative bottle design & development

COSMETIC

VALUE

CHAINResearch

Product &

Process

Development

Production

Primary

Packaging &

Decoration

LogisticsMarketing &

SalesServices

Delivery

Systems &

Assembly

Gx

stra

teg

ic

rele

va

nt m

ark

et

Componentpre-assembly & sealing

Plastic

Bottles

Product analytics

Filling

Gx accessible marketSu

pp

lie

rs

MUST

HAVESSuperior product and

Technologies1 Cost leadership2 Min. #3 for market shares3

HA

RD

WA

RE

CO

NS

UM

AB

LE

SS

ER

VIC

ES

3

Expanding with Advanced Technologies to a full solution

provider to the Pharma Industry


1. CMO / CDMO: Contract Manufacturer Organization, Contract Development Manufacturer Organization.

2. OEM / ODM: Original Equipment Manufacturer / Original Design Manufacturer

4

Electronics

Connectivity

Today +

Large Pharma &

Generics

Chronic Diseases

Gerresheimer

Medical Plastic Systems

CMO / CDMO1

Business

P L A S T I C S & D E V I C E S

Biosimilar/

Biotech Companies

Other therapeutic

areas

Precision injections

Flow measurement

Data gathering

Data management

Sensile Medical

OEM / ODM2

business

~ 5 Years ~ 10 Years

+

+

AD VAN C E D T E C H N O L O G I E S

+

... /…

respimetrix

Decisive steps to accelerate mid-term earnings growth have

been made in FY 2018 and drive investments for 2019 and 2020


5

Productivity | M A I N P R O J E C T SGrowth | M A I N P R O J E C T S

P&D 2019 2020 STATUS

Extension Horsovsky Tyn (Devices) X X On plan

New Plant North Macedonia (Devices &

Syringes)X X On plan

New Plant Brazil Anapolis (GPP) X X On plan

Extension TCC Wackersdorf (Syringes

Small Batch production)X — On plan

Buende Safety Systems Innosafe (Syringes) X X On plan

Buende new forming line (Syringes) X X On plan

Buende RTF 5 & 6 (Syringes) X X On plan

P&D 2019 2020 STATUS

Optimized Packaging Syringes X — On plan

Automatic driving systems Pfreimd X X On plan

PPG 2019 2020 STATUS

Furnace Repair Essen including Extension X — On plan

Furnace Repair Lohr including Extension — X 2020

Decoration Tettau Cosmetics X — On plan

Queretaro ETF line #2 — X 2020

Converting machine strategy (Poland:

cartridges, India: vials)X X On plan

PPG 2019 2020 STATUS

Automation Packing / Packaging (Moulded) X X On plan

Automation Printing (Moulded) X X On plan

Automation Spraying (Moulded) — X 2020

Automation Ampules (Converting) X — On plan

Automation clean rooms (Queretaro) X X On plan

System digitalisation (MES PPG) X X On plan


Agenda


1

5

4

2

3




Appendix P. 26

Another good performance in Q2 2019. Dynamic in the company

remains high. Implementation of Capex program fully ongoing

Strict monitoring of all business and macro drivers

Q2 2019 Financials

Revenues and profitability

developments in line with expectations

Reported revenues up 7.2%

Adjusted EBITDA at EUR 100.4m

(EUR 74.2m + EUR 26.2m)

Adjusted net income performance

higher by EUR 10.0m or 43.0% YoY

Adjusted EBITDA Leverage at 2.3x

Reconfirming 2019 guidance and

outlook for 2020-2022

Markets & Macro

Good market environment all in all with

regional differences

Strong demand in Europe overall

Softer demand in the Glass business in

the USA essentially led by operational

issues at one of our customers’ where

we have a high market share

Currency movements result in slight

translation tailwinds

Operations

P&D reported revenues up 4.4% YoY

led by Primary Plastic Packaging (in

particular South America) and

sustained strong growth in Syringes

PPG reported revenues up 6.0% YoY

led by Europe (Pharma &

Cosmetics) and Emerging Markets

Systematic execution of capex plan

Essen furnace overhaul planned over

Q3 and Q4

Brazil ramp up well in plan

Expansion in Horsovsky Tyn on track

Installing new RTF lines in Buende


Strong dynamic at Sensile Medical


SEIZING NEW BUSINESS

OPPORTUNITIES

EVER Pharma D-mine® Pump for

Parkinson commercialized in

several EU countries

New partnership with SQ

Innovation: development and

commercialization of new drug-

device combination for treatment

of edema in patients with heart

failure

Continuing to prepare for

operational readiness in Pfreimd

for future parts production (P&D)

SCHEDULING MILESTONES

PAYMENTS FOR

TECHNOLOGY

DEVELOPMENT PROJECTS

Confirming milestone payment

regarding the project with EVER

Pharma in July 2019

Milestone payments determined

by achievement of specific

projects criteria

Another good performance in Q2 2019

18

EUR M Q2 2019 Q2 2018CHANGE

in %ANALYSIS

FXN Revenues as per guidance1) 353.3 333.9 5.8% Growth across all business units

Revenues 356.5 332.6 7.2% Slight fx tailwind

FXN Adjusted EBITDA as per guidance 2) 73.2 67.9 7.9% Volume growth, operating leverage and mix

Adjusted EBITDA 100.4 71.1 41.3%

Total one-off items -1.6 -1.0 -63.4%

Depreciation & Amortization3) -37.4 -33.0 13.3% Including FVA of SM‘s technology in Q2 2019

Net finance expense -6.3 -9.4 -32.4% Bond redeemed in May 2018 lower int. expenses

Income taxes -8.0 -8.4 -5.8%

Net income 47.1 19.3 144.4%

Total one-off items (including amortization and tax effects) 12.2 7.2 69.0%

Adjusted net income 59.3 26.5 123.9%

Adjusted net income performance4) 33.1 23.1 43.0% Clear earnings improvement YoY


1. FXN: See page 105 of annual report FY 2018 for currency assumptions regarding FY 2019. For Q2 2018: excluding EUR 1.0m revenues from the loss of the inhaler customer at our plant in Küssnacht.

2. FXN: See page 105 of annual report FY 2018 for currency assumptions regarding FY 2019. For Q2 2019: excluding a EUR 26.2m positive effect on FXN Adj. EBITDA due to the derecognition of contingent

purchase price liabilities in conjunction with Sensile Medical acquisition. For Q2 2018: excluding a EUR 5.2m positive effect on FXN Adj. EBITDA linked to the loss of the inhaler customer at our plant in

Küssnacht and a EUR 1.1m negative effects on FXN Adj. EBITDA relating to the fair value measurement of the Triveni put option.

3. Including EUR 13.9m (Q2 2018: EUR 7.6m) amortization of fair value adjustments. Q2 2018 includes EUR 1.8m impairment losses unrelated to portfolio optimization.

4. For Q2 2019: excluding a EUR 26.2m positive effect on Adj. Net Income due to the derecognition of contingent purchase price liabilities in conjunction with Sensile Medical acquisition. For Q2 2018:

excluding a EUR 4.4m positive effect on Adj. Net Income linked to the loss of the inhaler customer at our plant in Küssnacht and a EUR 1.1m negative effects on Adj. Net Income relating to the fair value

measurement of the Triveni put option.

1. FXN: See page 105 of annual report FY 2018 for currency assumptions regarding FY 2019

2. For Q2 2018: excluding EUR 1.0m from the loss of the inhaler customer at our plant in Küssnacht.

3. Reported.

Broad based growth, especially driven by higher volumes YoY


GAT

— Revenues for Sensile Medical in line with expectations

— Almost exclusively development revenues

7.2

Revenues

1.2

Adj. EBITDA

179.7

187.6

Revenues

44.5

46.7

Adj. EBITDA

153.0

162.1

Revenues

32.6

32.3

Adj. EBITDA

— Very strong quarter in Syringes

— Plastic Packaging boosted by strong growth in South

America

— Medical Plastics Systems and US Prescription stable

YoY

— Adj. EBITDA Contract Manufacturing impacted by loss

of the Inhaler customer in 2018

— Strong growth in Cosmetics, partially led by more

Decoration

— European pharma glass up YoY

— Good quarter in Emerging Markets

— Revenues mix temporarily weighs on margins

— Higher demand in Decoration led to capacity

constraints and externalization to third parties with

lower margins

— US business impacted by operational issues at one of

our customers’ where we have a high market share

P&D PPG

3.8% 24.9%FXN1),2)

Growth

Q2 2018

Q2 2019

REPORTED EUR M REPORTED EUR M

Q2 2018

Q2 2019

3.8% 20.0%

REPORTED EUR M

Adj. EBITDA margin3)

FXN1)

Growth

Adj. EBITDA margin3)

Despite almost doubling of Capex, good Free Cash Flow

performance YoY


Change in net working capital stable

YoY

Implementation of capex program for

2019 & 2020 drives higher capex

spend YoY

Lower interest paid on the back of

refinancing subsequent to bond

redemption in May 2018. Last bond

interest payment took place in Q2

2018

The non-cash effect stemming from

the derecognition of contingent

purchase price liabilities of EUR

26.2m is included in Operating Cash

Flow and subtracted in the “Other”

position in Q2 2019.

EUR M Q2 2019 Q2 2018 CHANGE

Adjusted EBITDA 100.4 71.1 29.3

- Thereof derecognition of contingent purchase price liabilities 26.2 - 26.2

Change in net working capital -16.6 -17.8 1.2

Capital expenditure - 28.4 -14.8 -13.6

Operating cash flow 55.4 38.5 16.9

- Thereof derecognition of contingent purchase price liabilities 26.2 - 26.2

Net interest paid -3.2 -15.9 12.7

Net taxes paid - 9.4 -12.9 3.5

Pension benefits paid -2.5 -2.8 0.3

Other -37.1 -13.6 -23.5

Free cash flow before acquisitions / divestments 3.2 -6.7 9.9

Net Financial Debt Summary

Adjusted EBITDA Leverage temporarily at 2.3x


IN EUR M May 31, 2019 May 31, 2018

Drawn portion of RCF 328.7 166.8

Promissory loans (2017) 250.0 250.0

Promissory loans (2015) 425.0 425.0

Local borrowings and leasing 30.3 25.4

Cash and cash equivalents (93.7) (93.5)

Net Financial Debt 940.3 773.7

Adjusted EBITDA Leverage 2.3x 2.6x

NET FINANCIAL DEBT AND ADJ. EBITDA LEVERAGE

EXPIRY DATE MAIN FACILITIES

450.0

189.5

305.5

109.0

25.5 45.5

0

100

200

300

400

500

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027

RCFPromissory loans

21

Nebt Debt practically unchanged from Feb 28, 2019 to

May 31, 2019

Starting exploring refinancing strategies ahead of RCF

expiry next year

(939.1)(940.3)

(4.4)

3.2

Net Financial DebtFeb 28, 2019 Other (incl. FX effect)

FCF before acquisitionsand divestments

Net Financial DebtMay 31, 2019


Agenda


1

5

4

2

3




Appendix P. 26

FY 2019 guidance confirmed, FY 2020-2022 indications

unchanged. Focus on execution


METRICS EXPECTED FY 2019 (FXN1)

Revenues ~ EUR 1.40bn to EUR 1.45bn

Adjusted EBITDA

~ EUR 295m (plus/minus EUR 5m)

Excluding EUR 118.5m from derecognition of contingent purchase price

components

Capex (% FXN sales) ~ 12%

EXPECTED TOP LINE GROWTH

4% to 7% FXN1 revenue growth

per annum for the financial years

2020 – 2022 based on

Market volume growth

Gx market outperformance

Growth projects

Sensile Medical

EXPECTED ADJUSTED EBITDA MARGIN DEVELOPMENT

~ 21% in FY 2020

~ 23% for the financial years

2021 – 2022

EXPECTED CAPEX REQUIREMENTS

Temporary increase of capex

to revenues in 2019 and 2020

up to 12%

Thereafter back to 8% of

revenues

FY 2020

— 2022

At Group

level &

FXN1

23

1. See page 105 of annual report FY 2018 for currency assumptions regarding FY 2019.

Thank you!


Agenda


1

5

4

2

3




Appendix P. 26

Leading market positions in attractive niche markets

26

DIVISION PLASTICS & DEVICESPRIMARY

PACKAGING GLASS

PRODUCTPlastic

Packaging1Inhalation

(DPI)2Diabetes

Diagnostics3 PensSyringe

Systems

MG Pharma

(Type I)

Ampoules,Vials,

Cartridges

EUROPE #1 #1 #2 #2 #2 #2 #3

NORTH

AMERICA#1 #1 #2 #1 #1

EMERGING

MARKETS

#1(South America

and India)

#1(South

America)

#2(India)

#1(China)

1. North America: plastic vials for oral prescription drugs

2. DPI = Dry Powder Inhaler (World market)

3. Lancets and lancing devices


We provide solutions across all key product categories

27

DIVISION PLASTICS & DEVICES PRIMARY PACKAGING GLASS GAT

PRODUCTPlastic

PackagingInhalation

(DPI)2Diabetes

Diagnostics3 PensSyringe

Systems

MG Pharma

(Type I)

OTC Liquids and

Syrups (Type II &

III)

TGInjectables

Sensile Medical

Gerresheimer

Schott

Becton

Dickinson1

Nipro1

Ompi

Jabil Circuit

(Nypro)1

Consort Medical1

West Pharma1

Nemera

Berry Plastics1

Facet

Ypsomed1

Desjonquères

Rocco Bormioli

Insulet

1. Public company // 2. DPI = Dry Powder Inhaler (World market) // 3. Lancets and lancing devices

Source: Company estimates


1. IQVIA (former Quintiles IMS) January 2019

2. Generic units are included in Medicine units

Market context as defined by IQVIA


’14-’18

volume

CAGRs

’18

global

volume

growth

Medicine

standard units1.7% 0.3%

Generic

standard units2 3.0% 1.8%

2.2%

2.9%

-0.3%

0.1%

3.7%

4.9%

1.8% 1.7%

Medicine standard unit Generic standard unit

Global

Developed Markets

Phamerging Markets

ROW

Overall market trends point towards 2% to 3% CAGR

volume growth, underpinned by megatrends, with regional

variations

Within categories, Pharmerging markets particularly well-

placed to benefit from growth

Expected development of Pharma market volumes1

CAGR ’19-‘23 (in %)

Historic development of Pharma market volumes1

(in %)

Current customer overview 1

29

ABOUT 7% generated

with our Top 1 customer

48% of revenues generated with

our Top 20 Pharma & Generics

customers in 2018

35% of revenues generated with

our Top 10 Pharma & Generics

customers in 2018

Mylan

Boehringer Ingelheim

Bayer

Roche

Fresenius

Pfizer

Avon

L‘Oreal

Sanofi

Novartis

Teva

Merck

Beiersdorf

J&J

Novo

Nordisk

Astra

P&G

Coty

GsK

1. Customers names have been inputted randomly and clock-wise presentation does not correspond to revenues rankingInvestor Presentation

332.6 334.9333.9

353.3

2.3

(1.0)

6.7

5.87.2

300

325

350

Q2 2018reported

Currency impact

Q2 2018 @2019 budget

rate (FXN)

Impact 2018loss of the

inhalercustomer (P&D)

Q2 2018 FXNGuidance Base

Δ P&D Δ PPG Δ GAT Δ Internal Sales Q2 2019FXN

(0.3)


Broad based growth in Q2 2019. FXN Revenues as per guidance

up 5.8%


FXN1 growth YoY: +5.8%EUR m

FXN1

— Very strong quarter in Syringes

— Plastic Packaging boosted by strong growth in

South America

— Medical Plastics Systems and US Prescription

stable YoY

FXN P&D Q2 2019 performance review

+ 3.8% (excl. 2018 impact loss inhalation)

+3.2% (including impact)

— Strong growth in Cosmetics, partially led by more

Decoration

— European pharma glass up YoY

— Good quarter in Emerging Markets

— US business impacted by operational issues at one

of our customers’ where we have a high market

share

FXN PPG Q2 2019 performance review

+ 3.8%

— Revenues for Sensile Medical in line with

expectations

— Almost exclusively development revenues

FXN GAT Q2 2019 performance review

EUR 7.2m

30

71.1 72.0 67.973.2

99.4

0.9

(5.2)

1.1 5.3

(1.2)

1.2

26.2

Q2 2018adjustedEBITDA

reported

Currencyimpact

Q2 2018adjusted

EBITDA @2019 budget

rate (FXN)

Impact 2018Loss of the

Inhalercustomer

(P&D)

Impact 2018NetworkCharges(PPG) &

Triveni putoption(P&D)

Q2 2018FXN base for

2019guidance

Δ P&D Δ PPG Δ GAT Δ HQ Q2 2019FXN (excl.

Derecogn.)

Derecon. Ofcontingentpurchase

priceliabilities

Q2 2019FXN

adjustedEBITDA


FXN Adjusted EBITDA as per guidance up 7.9%


EUR m

FXN1

— Adj. EBITDA development in line with expectations

given the nature of revenues

— Revenues mix temporarily weighs on margins

— Higher demand in Decoration led to

capacity constraints and externalization to

third parties with lower margins

— US business impacted by operational issues at one

of our customers’ where we have a high market

share

— Contract Manufacturing impacted by the loss of the

inhaler customer in 2018

— Other businesses delivering in line with expectations

P&D Q2 2019 performance review

EUR +5.3mYoY (excl. 2018 impacts

inhalation & Triveni) or EUR +1.2m

including impact

PPG Q2 2019 performance review

EUR - 1.2m YoY

GAT Q2 2019 performance review

EUR 1.2m

31

FXN1 growth YoY: +7.9%

1. Including EUR 0.2m of non-current trade payables as of May 31, 2019 (EUR 0.1m as of November 30, 2018).

Development of net working capital

11/04/2019 Q2 2019 Earnings

MAY 31, 2019

EUR M

Nov 30, 2018

EUR M

MAY 31, 2018

EUR M

Inventories

thereof prepayments made

205.4

7.8

171.5

4.7

180.7

4.9

Trade receivables 240.3 273.5 224.3

Trade payables1 175.4 207.4 131.6

Payments received on account of orders - 34.9 31.4

Net working capital 270.3 202.7 242.0

Average NWC in % of LTM revenues 18.6% 17.3% 16.9%

32

1. Retrospective restatement due to the early adoption of IAS 19 (amended in 2011) from December 1, 2012.

2. Based on adj. EPS after non-controlling interests.

3. SDAX weighting at year end.

GXI Key Data


in EUR per share 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Dividend 0.40 – 0.50 0.60 0.65 0.70 0.75 0.85 1.05 1.10 1.15

Dividend yield 1.5% – 1.8% 1.9% 1.7% 1.4% 1.7% 1.2% 1.5% 1.6% 1.8%

Payout ratio 22% – 26% 25% 25%1 23% 26% 25% 25% 27% 20%

Share price high 38.20 27.05 29.85 36.62 41.34 50.14 56.42 76.32 76.86 78.01 79.80

Share price low 23.99 13.24 22.09 28.30 31.00 37.60 42.31 41.99 57.10 61.03 59.75

Share price at FY end 27.10 23.05 28.20 31.17 39.41 49.67 44.44 73.90 68.85 67.06 62.90

Book value per share 15.26 15.29 16.86 17.59 17.14 17.94 19.25 22.23 24.31 25.14 28.35

P/E ratio2 14.81 17.20 14.46 12.77 15.041 16.13 15.38 21.67 16.31 16.51 11.09

Market cap in EUR m 851 724 886 979 1,238 1,560 1,395 2,320 2,162 2,106 1,975

MDAX weighting year

end11.48%3 1.33% 1.24% 1.40% 1.47% 1.33% 1.01% 1.42% 1.33% 1.00% 0.87%

Number of shares in

million31.4 31.4 31.4 31.4 31.4 31.4 31.4 31.4 31.4 31.4 31.4

33

Financial calendar and contact details

CONTACT DETAILS

Name Corporate Investor Relations

Phone +49 211 6181 257

Fax +49 211 6181 121

E-mail [email protected]

IR website www.gerresheimer.com/ir

FINANCIAL CALENDAR

October 10, 2019 Interim Report 3rd Quarter 2019


Overview of Abbreviations and Definitions

ABBREVIATIONS AND DEFINITIONS

Adj. EBITDA Net income before income taxes, net finance expense, amortization of fair value adjustments, depreciation and amortization, impairment losses,

restructuring expenses and one-off income and expenses

Adjusted EPS Adjusted earnings per share after non-controlling interests, divided by 31.4m shares

Adjusted net income Net income before non-cash amortization of fair value adjustments, non-recurring effects of restructuring expenses, portfolio adjustments, the balance of

one-off income and expenses – including significant non-cash expenses – and the related tax effects

CAGR Compound Annual Growth Rate

Capex Investments in tangible and intangible assets

EBIT Earnings before interest and taxes

EBITA Earnings before interest, taxes and amortization

EBITDA Earnings before interest, taxes, depreciation and amortization

FXN "Foreign currency neutral" - based on budgeted FX-rates

Gx ROCE Adjusted EBITA divided by capital employed (total assets minus investments, investments accounted for using the equity method and other loans, minus

cash and cash equivalents, minus pensions (without pension provisions), deferred tax liabilities, and income tax liabilities, minus prepayments received,

trade payables, and other non- interest bearing liabilities)

Gx RONOA The ratio of adjusted EBITA to average net operating assets, comprising the sum of property, plant and equipment and net working capital

Adj. EBITDA Leverage The relation of net financial debt to adjusted EBITDA of the last twelve months, according to the credit facility agreement currently in place

Net financial debt Short and long term debt minus cash and cash equivalents

Net finance expense Interest income and expenses related to the net financial debt of the Gerresheimer Group. It also includes net interest expenses for pension provisions

together with exchange rate effects from financing activities and from related derivative hedges.

Net working capial

(NWC) Inventories plus trade receivables minus trade payables plus/minus prepayments

Op. CF margin Adjusted EBITDA plus/minus the change in net working capital, minus capex and in relation to revenues

Operating cash flow Adjusted EBITDA plus/minus change in net working capital, minus capex

P/E Ratio Company's share price divided by the adj. EPS

RCF Revolving credit facility

yoy year-on-year


Our Vision

Gerresheimer will become the leading global partner

for enabling solutions that improve health and well-being.

Our success is driven by the passion of our people.

Documents

Investor Presentation - Gerresheimer...Investor Presentation 10 The strategic relevant core market for Gerresheimer is today ~ € 15bn Cosmetics Glass Pharma Glass1 Pharma Plastic