Investor Presentation - Gerresheimer · Investor Presentation 13 1. CMO / CDMO: Contract Manufacturer Organization, Contract Development Manufacturer Organization. 2. OEM / ODM: Original

Investor Presentation

Q3 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

Review of Q3 2019 earnings P. 16

Operational and financial framework for 2019-2022 P. 25

Appendix P. 27

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. 27

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. 27

Q3 2019 performance in line with expectations. Year 1 of capex

plan almost completed, underpinning disciplined execution.

Strict monitoring of all business and macro drivers

Q3 2019 Financials

Revenues and profitability

developments in line with expectations

Reported revenues up 1.4%

Adjusted EBITDA at EUR 72.2m

Adjusted net income performance

higher by over 7% YoY

Adjusted EBITDA Leverage at 2.4x

Markets & Macro

Good market environment all in all with

regional differences

Solid 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

Refinancing of RCF successfully

completed

Operations

P&D reported revenues up 2.1% YoY

Driven by Primary Plastic Packaging

and Syringes

PPG reported revenues down 0.9% YoY

Essentially led by softer US demand

and strong comparables YoY

Disciplined execution of capex plan

Essen furnace overhaul on plan

Plant constructions in Anapolis and

Skopje progressing well

Expansion in Horsovsky Tyn on track

Gx® Glass Innovation & Technology

Center, Vineland/NJ, opened (Sept)


Disciplined execution of capex plan. Full speed ahead on

growth, productivity and innovation.


Expanding

innovation in glass

2019 2019

Gx ® Glass Innovation & Technology Center, Vineland/NJ

From component supplier to provider of technology solutions


Bundling our glass expertise under one roof to

develop new products and technologies

In close cooperation with our customers, we are now

able to develop new products in a very early design

phase

Driving innovation in pharmaceutical glass, primary

packaging glass products, technologies and digitized

processes

Grand opening with over 100 customers Sep 25, 2019

Diverse therapeutic areasNew treatment methodsLarge base of prospects

Sensile: Focus on executing main projects and driving leads &

innovation pipeline


Avoiding hospital

stays

Alternative to

infusions or other

injectables

Patient comfort

…/….

Large Pharma

Generics

Specialized Pharma

Biotech / Biosimilars

…/….

Diabetes

Oncology

Parkinson

Pain therapies

Narcolepsy

Pregnancy induced

high blood pressure

…/….

+ +

Leads and Innovation Pipeline

Executing on current

projects

Driving industrialization

processes

Projects and Processes

Q3 2019 performance in line with expectation

20

EUR M Q3 2019 Q3 2018CHANGE

in %ANALYSIS

FXN Revenues as per guidance1) 355.2 351.7 1.0% Driven by P&D , Glass Europe & EM

Revenues 358.6 353.7 1.4% Slight fx tailwind

FXN Adjusted EBITDA as per guidance 2) 71.1 69.8 1.6% Development in line with sales growth

Adjusted EBITDA 72.2 73.7 -2.3%

Total one-off items -1.1 -5.8 -80.1%

Depreciation & Amortization3) -37.3 -34.6 7.0%Including FVA with regard to the acquisition of Sensile

Medical in July 2018

Net finance expense -7.0 -6.9 0.7%

Income taxes -7.8 -7.4 5.0%

Net income 19.0 19.0 0.5%

Total one-off items (including amortization and tax effects) 11.7 13.5 -13.6%

Adjusted net income 30.7 32.5 -5.4%

Adjusted net income performance4) 30.7 28.6 7.5% Continuing to deliver improvement YoY


1. FXN: See page 105 of annual report FY 2018 for currency assumptions regarding FY 2019. For Q3 2018: excluding EUR 3.7m 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 Q3 2018: excluding a EUR 5.6m positive one-off effect linked to the loss of the inhaler customer at our plant

in Küssnacht and a EUR 1.4m negative one-off effect relating to the network charges.

3. Including EUR 14.0m (Q3 2018: EUR 11.5m) amortization of fair value adjustments.

4. For Q3 2018: excluding a EUR 4.9m positive one-off effect linked to the loss of the inhaler customer at our plant in Küssnacht and a EUR 1.0m negative one-off effect relating to network charges.

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

2. For Q3 2018: excluding EUR 3.7m from the loss of the inhaler customer at our plant in Küssnacht.

3. Reported.

Q3 marked by sustained dynamic in Primary Plastic Packaging

and Syringes but lower demand from one US Glass customer


GAT

— Revenues for Sensile Medical in line with expectations

— Almost exclusively development revenues

189.7

193.7

Revenues

50.8

45.7

Adj. EBITDA

160.7159.2

Revenues

30.2 30.1

Adj. EBITDA

— Overall plastic packaging business stable YoY

— Syringes up

— Medical Plastics Systems overall stable YoY

— Tooling up (timing effects)

— Q3 2018 Contract Manufacturing positively impacted

by Adj. EBITDA of 5.6 million linked to loss of the

Inhaler customer in Küssnacht

— Trends from Q2 2019 continued into Q3 2019

— Growth in Europe

— Good quarter in Emerging Markets

— US business impacted by operational issues at

one of our customers’ where we have a high

market share

— Revenues mix temporarily weighs on margins

— Furnace overhaul in Essen spread over Q3 and Q4

— Externalisation to third parties in Decoration continue to

impact margins in Q3 2019

P&D PPG

2.8% 23.6%FXN1),2)

Growth

Q3 2018

Q3 2019

REPORTED EUR M REPORTED EUR M

Q3 2018

Q3 2019

-2.6% 18.9%Adj.

EBITDA margin3)

FXN1)

Growth

Adj. EBITDA margin3)

3.5

6.3

Revenues

(2.0)

Adj. EBITDA

REPORTED EUR M

Q3 2018

Q3 2019

1.8

FCF generation mostly driven by implementation of capex plan

in Q3 2019 and temporary change in working capital


.

Implementation of capex program for

2019 & 2020 drives higher capex

spend YoY

Change in net working capital driven

by phasing effects in inventories and

temporary build up of receivables at

Sensile Medical due to nature of

project business – rebound in Q4

expected

EUR M Q3 2019 Q3 2018 CHANGE

Adjusted EBITDA 72.2 73.7 -1.5

Change in net working capital -12.4 6.3 -18.7

Capital expenditure -43.6 -19.4 -24.2

Operating cash flow 16.2 60.6 -44.4

Net interest paid -2.4 -2.0 -0.4

Net taxes paid - 8.2 -7.8 -0.4

Pension benefits paid -3.2 -2.7 -0.5

Other -5.2 -5.5 0.3

Free cash flow before acquisitions / divestments -2.8 42.6 -45.4

Net Financial Debt Summary

Net Financial Debt increase led by dividend and milestone

payments; RCF refinancing closed with improved conditions


IN EUR M Aug 31, 2019 Aug 31, 2018

Drawn portion of RCF 368.5 291.0

Promissory loans (2017) 250.0 250.0

Promissory loans (2015) 425.0 425.0

Local borrowings and leasing /

installment purchases37.6 26.7

Cash and cash equivalents (80.7) (86.9)

Net Financial Debt 1,000.4 905.8

Adjusted EBITDA Leverage 2.4x 3.2x

NET FINANCIAL DEBT AND ADJ. EBITDA LEVERAGE

EXPIRY DATE MAIN FACILITIES

550.0

189.5

305.5

109.0

25.5 45.5

0

200

400

600 RCF (new)Promissory loans

23

Dividend payment (EUR 36.1m) and Milestone

payment (EUR 18.7m) linked to the Sensile

acquisition drive increase in Net Financial Debt in

Q3 2019

RCF refinancing closed: New EUR 550.0m RCF

agreement with 5 Year Maturity successfully

negotiated with lower interest margins and

improved documentation(940.3)

(1,000.4)

(2.5) (2.8)

(36.1)(18.7)

-1000

-950

-900

-850

-800

Net Financial DebtMay 31, 2019

Other (incl. FXeffect)

FCF beforeacquisitions and

divestments Dividends

Milestonepayment Sensile

(Ever)Net Financial Debt

August 31, 2019


Agenda


1

5

4

2

3




Appendix P. 27

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

25

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


Agenda


1

5

4

2

3




Appendix P. 27

Leading market positions in attractive niche markets

27

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

28

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

30

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

353.7 355.4351.7

355.21.7

(3.7)

5.3

(4.2)

2.8

300

325

350

Q3 2018reported

Currency impact

Q3 2018 @2019 budget

rate (FXN)

Impact 2018loss of the

inhalercustomer (P&D)

Q3 2018 FXNGuidance Base

Δ P&D Δ PPG Δ GAT Δ Internal Sales Q3 2019FXN

(0.4)


Q3 marked by sustained dynamic in Primary Plastic Packaging

and Syringes but lower demand from one US Glass customer


FXN1 growth YoY: +1.0%EUR m

FXN1

— Overall plastic packaging business stable YoY

— Syringes up

— Medical Plastics Systems overall stable YoY

— Tooling up (timing effects)

FXN P&D Q3 2019 performance review

+ 2.8% (excl. 2018 impact loss inhalation)

+0.8% (including impact)

— Trends from Q2 2019 continued into Q3 2019

— Growth in Europe

— 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 Q3 2019 performance review

-2.6%

— Revenues for Sensile Medical in line with

expectations

— Almost exclusively development revenues

FXN GAT Q3 2019 performance review

EUR + 2.8m

31

73.7 74.0 69.871.10.3

(5.6)

1.4

(0.3) (2.1)

3.8

(0.1)

Q3 2018adjustedEBITDA

reported

Currencyimpact

Q3 2018adjusted

EBITDA @2019 budget

rate (FXN)

Impact 2018Loss of the

Inhalercustomer

(P&D)

Impact 2018Network

Charges (PPG)

Q3 2018 FXNbase for 2019

guidance

Δ P&D Δ PPG Δ GAT Δ HQ Q3 2019 FXNadjustedEBITDA


FXN Adjusted EBITDA development in line with sales growth


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

— Furnace overhaul Essen spread over Q3 and Q4

— Contract Manufacturing impacted by the loss of the

inhaler customer in 2018

— Other businesses delivering in line with expectations

P&D Q3 2019 performance review

EUR -0.3mYoY (excl. 2018 impact

inhalation) or EUR -5.9m including impact

PPG Q3 2019 performance review

EUR - 2.1m YoY (excl. 2018 impact network

charges) or EUR -0.7m including impact

GAT Q3 2019 performance review

EUR +3.8m

32

FXN1 growth YoY: +0.8%

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

February 19, 2020 FY 2019 Earnings

April 9, 2020 Interim Report 1st Quarter 2020

June 24, 2020 Annual General Meeting 2020

July 14, 2020 Interim Report 2nd Quarter 2020

October 13, 2020 Interim Report 3rd Quarter 2020


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 13 1. CMO / CDMO: Contract Manufacturer Organization, Contract Development Manufacturer Organization. 2. OEM / ODM: Original