Earnings release
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Quarterly Statement for Q1 2025 December 1, 2024, to February 28, 2025 Contents 2 Key Figures 3 Revenues, Adjusted EBITDA and Free Cash Flow 4 Forecast 2025 5 Financial Information 10 Additional Information
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 2 Change in % In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Actual Organic Results of operations Revenues BfivejtfBtwojtfBzerojtfBperiodjtfBonejtf BfourjtfBsixjtfBsixjtfBperiodjtfBonejtf BonejtfBonejtfBperiodjtfBsixjtf – Adjusted EBITDA BninejtfBonejtfBperiodjtfBfivejtf BeightjtfBzerojtfBperiodjtfBninejtf BonejtfBthreejtfBperiodjtfBonejtf – Adjusted EBITDA margin in % BonejtfBsevenjtfBperiodjtfBsixjtf BonejtfBsevenjtfBperiodjtfBfourjtf BtwojtfBzerojtfbps – Revenues (organic)1) BfivejtfBonejtfBninejtfBperiodjtfBeightjtf BfivejtfBfivejtfBfivejtfBperiodjtfBninejtf – –BsixjtfBperiodjtfBfivejtf Adjusted EBITDA (organic)1) BninejtfBonejtfBperiodjtfBfourjtf BonejtfBzerojtfBzerojtfBperiodjtfBeightjtf – –BninejtfBperiodjtfBthreejtf Adjusted EBITDA margin in % (organic)1) BonejtfBsevenjtfBperiodjtfBsixjtf BonejtfBeightjtfBperiodjtfBonejtf – –BfivejtfBzerojtfbps Adjusted net income 2) BonejtfBsixjtfBperiodjtfBthreejtf BtwojtfBthreejtfBperiodjtfBzerojtf –BtwojtfBninejtfBperiodjtfBfourjtf – Earnings per share in euros 3) –BzerojtfBperiodjtfBfivejtfBtwojtf BzerojtfBperiodjtfBthreejtfBeightjtf >BhyphenjtfBonejtfBzerojtfBzerojtfBperiodjtfBzerojtf – Adjusted EPS in euros 4) BzerojtfBperiodjtfBfourjtfBsixjtf BzerojtfBperiodjtfBsixjtfBfivejtf –BtwojtfBninejtfBperiodjtfBtwojtf – Adjusted EPS in euros (currency-adjusted)4) BzerojtfBperiodjtfBfourjtfBfivejtf BzerojtfBperiodjtfBsevenjtfBonejtf – BhyphenjtfBthreejtfBsixjtfBperiodjtfBsixjtf BfivejtfBparenrightjtf Financial position Cash flow from operating activities –BtwojtfBsevenjtfBperiodjtfBeightjtf BtwojtfBsevenjtfBperiodjtfBtwojtf >BhyphenjtfBonejtfBzerojtfBzerojtfBperiodjtfBzerojtf – Cash-effective capital expenditure –BonejtfBonejtfBeightjtfBperiodjtfBninejtf –BonejtfBonejtfBfivejtfBperiodjtfBsixjtf –BtwojtfBperiodjtfBninejtf – Cash flow from investing activities –BfourjtfBsevenjtfBfourjtfBperiodjtfBninejtf –BonejtfBzerojtfBsixjtfBperiodjtfBfivejtf >BhyphenjtfBonejtfBzerojtfBzerojtfBcommajtfBzerojtf – Free cash flow before M&A activities –BonejtfBfourjtfBonejtfBperiodjtfBonejtf –BsevenjtfBninejtfBperiodjtfBthreejtf –BsevenjtfBsevenjtfBperiodjtfBninejtf – In EUR m Feb. 28, 2025 NovBperiodjtf BthreejtfBzerojtfBcommajtf BtwojtfBzerojtfBtwojtfBfourjtf Change in % Actual Organic Net assets position Total assets and total liabilities BfourjtfBcommajtfBeightjtfBfourjtfBzerojtfBperiodjtfBsevenjtf BthreejtfBcommajtfBeightjtfBzerojtfBninejtfBperiodjtfBtwojtf BtwojtfBsevenjtfBperiodjtfBonejtf – Equity BonejtfBcommajtfBfivejtfBfourjtfBzerojtfBperiodjtfBzerojtf BonejtfBcommajtfBfivejtfBthreejtfBninejtfBperiodjtfBonejtf BzerojtfBperiodjtfBonejtf – Equity ratio in % BthreejtfBonejtfBperiodjtfBeightjtf BfourjtfBzerojtfBperiodjtfBfourjtf –BeightjtfBsixjtfBzerojtfbps – Net working capital (reporting date) BthreejtfBsixjtfBzerojtfBperiodjtfBtwojtf BtwojtfBthreejtfBtwojtfBperiodjtfBsevenjtf BfivejtfBfourjtfBperiodjtfBeightjtf – Net financial debt BtwojtfBcommajtfBzerojtfBonejtfBonejtfBperiodjtfBtwojtf BonejtfBcommajtfBonejtfBzerojtfBzerojtfBperiodjtfBthreejtf BeightjtfBtwojtfBperiodjtfBeightjtf – Adjusted EBITDA leverage 6) BthreejtfBperiodjtfBninejtfBsevenjtf BtwojtfBperiodjtfBfourjtfBthreejtf – – Employees Employees (reporting date) BonejtfBthreejtfBcommajtfBsixjtfBthreejtfBtwojtf BonejtfBtwojtfBcommajtfBonejtfBfourjtfBtwojtf BonejtfBtwojtfBperiodjtfBthreejtf – BonejtfBparenrightjtf Organic revenue and organic adjusted EBITDA include the revenue and adjusted EBITDA of Bormioli Pharma in both BtwojtfBzerojtfBtwojtfBfourjtf and BtwojtfBzerojtfBtwojtfBfivejtfBcommajtf which we acquired on December BonejtfBzerojtfBcommajtf BtwojtfBzerojtfBtwojtfBfourjtf and fully consolidate from the beginning of the financial year BtwojtfBzerojtfBtwojtfBfivejtfBcommajtf translated at the budgeted exchange rates for the financial year BtwojtfBzerojtfBtwojtfBfivejtfBperiodjtf BtwojtfBparenrightjtf Adjusted net incomeBcolonjtf Net income before depreciationBslashjtfamortizationBslashjtfimpairment losses of fair value adjustments less capitalized cost componentsBcommajtf and restructuring expensesBcommajtf as well as before the balance of exceptional income and expenses and the related tax effectsBperiodjtf BthreejtfBparenrightjtf Earnings per share in eurosBcolonjtf Earnings per share attributable to shareholders of Gerresheimer AGBcommajtf based on BthreejtfBfourjtfBperiodjtfBfivejtfBfourjtfBzerojtfm sharesBperiodjtf BfourjtfBparenrightjtf Adjusted EPS in eurosBcolonjtf Adjusted earnings per share attributable to shareholders of Gerresheimer AGBcommajtf based on BthreejtfBfourjtfBperiodjtfBfivejtfBfourjtfBzerojtfm sharesBperiodjtf BfivejtfBparenrightjtf Based on adjusted EPS in euros excluding the earnings contributions of Bormioli Pharma for QBonejtf BtwojtfBzerojtfBtwojtfBfourjtfBcommajtf translated at the budgeted exchange rates for the financial year BtwojtfBzerojtfBtwojtfBfivejtfBcommajtf based on BthreejtfBfourjtfBperiodjtfBfivejtfBfourjtfBzerojtfm sharesBperiodjtf BsixjtfBparenrightjtf Adjusted EBITDA leverageBcolonjtf The relation of net financial debt to adjusted EBITDA of the last twelve months according to the credit agreement currently in placeBperiodjtf Key Figures
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 3 Plastics & Devices Change in % In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Actual Organic Revenues 1) BtwojtfBninejtfBfourjtfBperiodjtfBfivejtf BtwojtfBfivejtfBeightjtfBperiodjtfBfourjtf BonejtfBfourjtfBperiodjtfBzerojtf –BthreejtfBperiodjtfBthreejtf Adjusted EBITDA BsixjtfBthreejtfBperiodjtfBfourjtf BfivejtfBninejtfBperiodjtfBthreejtf BsevenjtfBperiodjtfBzerojtf –BonejtfBonejtfBperiodjtfBfourjtf Adjusted EBITDA margin in % BtwojtfBonejtfBperiodjtfBfivejtf BtwojtfBtwojtfBperiodjtfBninejtf –BonejtfBfourjtfBzerojtfbps –BtwojtfBzerojtfBzerojtfbps BonejtfBparenrightjtf The revenues of the divisions include intercompany revenuesBperiodjtf Revenues in the Plastics & Devices Division in the first quarter of the financial year 2025 came to EUR 294.5m, up fro m EUR 258.4m in the same quarter in the prior year. The increase is primarily due to the first-time inclusion of the revenue contri- bution from Bormioli Pharma. Taking into account the revenue of Bormioli Pharma in the period from December 2023 to Febru- ary 2024 and adjusted for foreign exchange rate effec ts, reve- nues decreased by 3.3% compared to the prior-year period. The foreign exchange rate effects resulted mainly from the change in the US dollar against the euro. The main reason for the or- ganic revenue development was the time lag in the syringe busi- ness. Adjusted EBITDA was 7.0% higher, or down by 11.4% an organic basis. The adjusted EBITDA margin decreased by 140 ba sis points from 22.9% to 21.5%. The decrease reflects a te mporary changed product mix and delays in the syringe business. Primary Packaging Glass Change in % In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Actual Organic Revenues 1) BtwojtfBtwojtfBsevenjtfBperiodjtfBonejtf BtwojtfBzerojtfBeightjtfBperiodjtfBfourjtf BninejtfBperiodjtfBzerojtf –BonejtfBzerojtfBperiodjtfBtwojtf Adjusted EBITDA BfourjtfBzerojtfBperiodjtfBtwojtf BthreejtfBfourjtfBperiodjtfBeightjtf BonejtfBfivejtfBperiodjtfBfourjtf –BfivejtfBperiodjtfBeightjtf Adjusted EBITDA margin in % BonejtfBsevenjtfBperiodjtfBsevenjtf BonejtfBsixjtfBperiodjtfBsevenjtf BonejtfBzerojtfBzerojtfbps BninejtfBzerojtfbps BonejtfBparenrightjtf The revenues of the divisions include intercompany revenuesBperiodjtf The Primary Packaging Glass generated revenues of EUR 227.1m in the first quarter, up from EUR 208.4m in the same quarter in the prior year. The increase is primarily due to the first-time in- clusion of the revenue contribution from Bormioli Pharma. Tak- ing into account the revenue of Bormioli Pharma in t he period from December 2023 to February 2024 and adjusted for foreign exchange rate effects, revenues were down by 10.2% yea r on year. The foreign exchange rate effects resulted mainly from the change in the US dollar against the euro. The organic decline in revenue was due to lower sales in the pharmaceutical and cos- metics business compared to the comparative prior-year period. Some of the reasons for the decline in revenue were, beside the overall softness in moulded glass cosmetics, the construction of a new furnace at the Lohr site (Germany), which beg an in the first quarter of 2025, and the fact that production at t he Mor- ganton (NC/USA) site has not yet fully resumed following Hurri- cane Helene. Adjusted EBITDA increased by 15.4% year on year, or by down by 5.8% in organic terms. The adjusted EBITDA margin improved by 100 basis points to 17.7%, after 16.7% in the prior year’s quar- ter. This increase is primarily due to an improved produ ct mix and cost position. Revenues, Adjusted EBITDA and Free Cash Flow
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 4 Advanced Technologies Change in % In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Actual Organic Revenues 1) BzerojtfBperiodjtfBsevenjtf BzerojtfBperiodjtfBsixjtf BonejtfBsevenjtfBperiodjtfBsixjtf BonejtfBsevenjtfBperiodjtfBsixjtf Adjusted EBITDA –BfourjtfBperiodjtfBfourjtf –BfivejtfBperiodjtfBonejtf BonejtfBtwojtfBperiodjtfBsixjtf BonejtfBtwojtfBperiodjtfBsevenjtf Adjusted EBITDA margin in % – – – – BonejtfBparenrightjtf The revenues of the divisions include intercompany revenuesBperiodjtf The development projects for digital platforms for therapy sup- port, wearable medication pumps for small- and large-molecule drugs, and the proprietary auto-injector platform, are continuing as planned. Reconciliation of Adjusted EBITDA Change in % In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Actual Organic Plastics & Devices BsixjtfBthreejtfBperiodjtfBfourjtf BfivejtfBninejtfBperiodjtfBthreejtf BsevenjtfBperiodjtfBzerojtf –BonejtfBonejtfBperiodjtfBfourjtf Primary Packaging Glass BfourjtfBzerojtfBperiodjtfBtwojtf BthreejtfBfourjtfBperiodjtfBeightjtf BonejtfBfivejtfBperiodjtfBfourjtf –BfivejtfBperiodjtfBeightjtf Advanced Technologies –BfourjtfBperiodjtfBfourjtf –BfivejtfBperiodjtfBonejtf BonejtfBtwojtfBperiodjtfBsixjtf BonejtfBtwojtfBperiodjtfBsevenjtf Corporate functions/ consolidation –BsevenjtfBperiodjtfBsevenjtf –BeightjtfBperiodjtfBonejtf BfivejtfBperiodjtfBsevenjtf – Adjusted EBITDA 91.5 80.9 13.1 –9.3 Free Cash Flow In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Change Cash flow from operating activities –27.8 27.2 –55.0 Net capital expenditure before M&A activities –BonejtfBonejtfBthreejtfBperiodjtfBthreejtf –BonejtfBzerojtfBsixjtfBperiodjtfBfivejtf –BsixjtfBperiodjtfBeightjtf Free cash flow before M&A activities –141.1 –79.3 –61.8 Adjusted EBITDA in the first three months of the current finan- cial year was higher than in the same period of the p rior year. The decline in cash flow from operating activities to EUR -27.8m, compared to EUR 27.2m in the prior-year period is primarily due to the higher level of funds tied up in net working capital com- pared to the same period of the previous year. Taking into account the above-mentioned effects and net in- vestments, free cash flow before M&A activities amount ed to EUR -141.1m as of February 28, 2025, compared to EUR -79.3m in the same period of the prior year. Net capital expenditure includes payments from gover nment grants in the amount of EUR 5.3m (3M 2024: EUR 7.3m). Capital expenditure in the Plastics & Devices Divisi on focused on the further expansion of syringe capacities in Germ any, Mexico, and the Republic of North Macedonia, as well as the expansion of capacity for plastics products and medic al systems in North America. In the Primary Packaging Glass Division, capital exp enditure mainly related to the construction of a new furnace at the Lohr site (Germany) and capacity expansions for injection vials in Morganton (NC/USA). Forecast 2025 Key performance indicator Basis Forecast 2025 Revenues EUR 2,400.0m 1) Organic growth between 3% and 5% Adjusted EBITDA margin - 22% (currency-adjusted) Adjusted EPS in euros EUR 4.85 2) Growth in the high single-digit percentage range (currency-adjusted)3) 1) Based on the revenues for the financial year 2024, including the revenues of Bormioli Pharma, translated at the budgeted exchange rates for the financial year 2025. 2) Based on adjusted EPS for the financial year 2024 excluding the earnings contribu- tions of Bormioli Pharma, translated at the budgeted exchange rates for the financial year 2025, based on 34.540m shares. 3) High single-digit percentage range is the range between 7 and 9%.
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 5 Financial Information for the first quarter of the financial year 2025 Net financial debt In EUR m Feb. 28, 2025 NovBperiodjtf BthreejtfBzerojtfBcommajtf BtwojtfBzerojtfBtwojtfBfourjtf Change Promissory loans – November 2015 (nominal) BtwojtfBfivejtfBperiodjtfBfivejtf BtwojtfBfivejtfBperiodjtfBfivejtf – Promissory loans – September 2017 (nominal) BfourjtfBfivejtfBperiodjtfBfivejtf BfourjtfBfivejtfBperiodjtfBfivejtf – Promissory loans – November 2020 (nominal) BonejtfBsixjtfBtwojtfBperiodjtfBzerojtf BonejtfBsixjtfBtwojtfBperiodjtfBzerojtf – Promissory loans – November 2021 (nominal) BsevenjtfBfivejtfBperiodjtfBzerojtf BsevenjtfBfivejtfBperiodjtfBzerojtf – Promissory loans – November 2022 (nominal) BthreejtfBzerojtfBzerojtfBperiodjtfBzerojtf BthreejtfBzerojtfBzerojtfBperiodjtfBzerojtf – Promissory loans – October 2024 (nominal) BsixjtfBzerojtfBzerojtfBperiodjtfBzerojtf BsixjtfBzerojtfBzerojtfBperiodjtfBzerojtf – Revolving credit facilities BsixjtfBtwojtfBperiodjtfBzerojtf – BsixjtfBtwojtfBperiodjtfBzerojtf Bridge loan acquisition Bormioli Pharma BsevenjtfBsevenjtfBfourjtfBperiodjtfBzerojtf – BsevenjtfBsevenjtfBfourjtfBperiodjtfBzerojtf Local credit facilities and overdraft facilities BthreejtfBthreejtfBperiodjtfBsevenjtf BeightjtfBperiodjtfBsevenjtf BtwojtfBfivejtfBperiodjtfBzerojtf Liabilities from lease, factoring and installment purchases BeightjtfBfourjtfBperiodjtfBthreejtf BsevenjtfBzerojtfBperiodjtfBzerojtf BonejtfBfourjtfBperiodjtfBthreejtf Financial debt 2,162.0 1,286.7 875.3 Cash and cash equivalents BonejtfBfivejtfBzerojtfBperiodjtfBeightjtf BonejtfBeightjtfBsixjtfBperiodjtfBfourjtf –BthreejtfBfivejtfBperiodjtfBsixjtf Net financial debt 2,011.2 1,100.3 910.9 The change in net financial debt is mainly due to the utilization of the bridge loan for the acquisition of Bormioli Ph arma. This bridge loan has a term of twelve months from Septem- ber 3, 2024 and there are options to extend the term. Adjusted EBITDA leverage, the ratio of net financial debt to ad- justed EBITDA over the last twelve months, stood at 3.97x as of the reporting date (November 30, 2024: 2,43x). Capital structure In % of total assets Feb. 28, 2025 NovBperiodjtf BthreejtfBzerojtfBcommajtf BtwojtfBzerojtfBtwojtfBfourjtf Non-current assets BsevenjtfBsixjtfBperiodjtfBzerojtf BsevenjtfBthreejtfBperiodjtfBninejtf Current assets BtwojtfBfourjtfBperiodjtfBzerojtf BtwojtfBsixjtfBperiodjtfBonejtf Equity BthreejtfBonejtfBperiodjtfBeightjtf BfourjtfBzerojtfBperiodjtfBfourjtf Financial debt BfourjtfBfourjtfBperiodjtfBsevenjtf BthreejtfBthreejtfBperiodjtfBeightjtf Other non-current liabilities BninejtfBperiodjtfBninejtf BninejtfBperiodjtfBsevenjtf Other current liabilities BonejtfBthreejtfBperiodjtfBsixjtf BonejtfBsixjtfBperiodjtfBonejtf
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 6 Consolidated Income Statement for the period from December 1, 2024, to February 28, 2025 In EUR k Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Revenues BfivejtfBtwojtfBzerojtfBcommajtfBzerojtfBfivejtfBfourjtf BfourjtfBsixjtfBsixjtfBcommajtfBonejtfBthreejtfBeightjtf Cost of sales –BthreejtfBninejtfBthreejtfBcommajtfBthreejtfBzerojtfBfourjtf–BthreejtfBthreejtfBsixjtfBcommajtfBfivejtfBfourjtfBfivejtf Gross profit on sales 126,750 129,593 Selling and general administrative expenses –BonejtfBzerojtfBthreejtfBcommajtfBonejtfBsixjtfBeightjtf–BninejtfBthreejtfBcommajtfBtwojtfBfourjtfBthreejtf Research and development expenses –BsixjtfBcommajtfBonejtfBonejtfBsevenjtf–BfivejtfBcommajtfBfivejtfBsixjtfBsixjtf Other operating income BtwojtfBzerojtfBcommajtfBsevenjtfBsixjtfBfourjtf BfivejtfBcommajtfBfourjtfBsixjtfBzerojtf Other operating expenses –BtwojtfBthreejtfBcommajtfBonejtfBonejtfBonejtf–BfourjtfBcommajtfBthreejtfBfivejtfBninejtf Operating income 15,118 31,885 Interest income BonejtfBcommajtfBtwojtfBsevenjtfBonejtf BninejtfBsixjtfBthreejtf Interest expenses –BfourjtfBtwojtfBcommajtfBfivejtfBthreejtfBtwojtf–BonejtfBthreejtfBcommajtfBthreejtfBninejtfBeightjtf Other financial result BeightjtfBtwojtfBfourjtf BeightjtfBninejtfBthreejtf Financial result –40,437 –11,542 Income before income taxes –25,319 20,343 Income taxes BsevenjtfBcommajtfBeightjtfBthreejtfBonejtf –BsixjtfBcommajtfBninejtfBonejtfBsevenjtf Net income –17,488 13,426 Shareholders of Gerresheimer AG –BonejtfBeightjtfBcommajtfBzerojtfBonejtfBthreejtfBonejtfBthreejtfBcommajtfBzerojtfBzerojtfBeightjtf Non-controlling interests BfivejtfBtwojtfBfivejtf BfourjtfBonejtfBeightjtf Basic and diluted earnings per share in euros –0.52 0.38
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 7 Consolidated Balance Sheet as of February 28, 2025 In EUR k Feb. 28, 2025 NovBperiodjtf BthreejtfBzerojtfBcommajtf BtwojtfBzerojtfBtwojtfBfourjtf Assets Intangible assets BonejtfBcommajtfBsevenjtfBeightjtfBtwojtfBcommajtfBsixjtfBzerojtfBzerojtf BonejtfBcommajtfBtwojtfBfourjtfBonejtfBcommajtfBonejtfBsevenjtfBthreejtf Property, plant and equipment BonejtfBcommajtfBeightjtfBtwojtfBsixjtfBcommajtfBsevenjtfBeightjtfBsixjtf BonejtfBcommajtfBfivejtfBzerojtfBsixjtfBcommajtfBtwojtfBsixjtfBfivejtf Investment property BonejtfBcommajtfBsevenjtfBfivejtfBtwojtf BonejtfBcommajtfBsevenjtfBfivejtfBtwojtf Investments accounted for using the equity method BonejtfBninejtfBcommajtfBninejtfBninejtfBonejtf BtwojtfBzerojtfBcommajtfBfivejtfBonejtfBthreejtf Income tax receivables BthreejtfBcommajtfBfourjtfBtwojtfBsixjtf BfourjtfBcommajtfBzerojtfBthreejtfBeightjtf Other financial assets BtwojtfBzerojtfBcommajtfBsevenjtfBsevenjtfBzerojtf BtwojtfBonejtfBcommajtfBeightjtfBninejtfBfourjtf Other non-financial assets BfivejtfBcommajtfBeightjtfBtwojtfBsevenjtf BthreejtfBcommajtfBeightjtfBfourjtfBfourjtf Deferred tax assets BonejtfBninejtfBcommajtfBonejtfBfivejtfBfivejtf BonejtfBsevenjtfBcommajtfBthreejtfBeightjtfBfourjtf Non-current assets 3,680,307 2,816,863 Inventories BfivejtfBonejtfBsixjtfBcommajtfBsixjtfBfourjtfBeightjtf BthreejtfBfivejtfBfivejtfBcommajtfBzerojtfBeightjtfBeightjtf Trade receivables BthreejtfBtwojtfBtwojtfBcommajtfBtwojtfBonejtfBeightjtf BthreejtfBonejtfBzerojtfBcommajtfBsixjtfBfourjtfBonejtf Contract assets BonejtfBthreejtfBcommajtfBfourjtfBninejtfBsevenjtf BonejtfBthreejtfBcommajtfBonejtfBninejtfBonejtf Income tax receivables BonejtfBthreejtfBcommajtfBtwojtfBthreejtfBeightjtf BeightjtfBcommajtfBthreejtfBeightjtfBeightjtf Other financial assets BthreejtfBthreejtfBcommajtfBzerojtfBsixjtfBeightjtf BthreejtfBonejtfBcommajtfBfivejtfBsevenjtfBonejtf Other non-financial assets BonejtfBzerojtfBsevenjtfBcommajtfBeightjtfBonejtfBeightjtf BeightjtfBthreejtfBcommajtfBninejtfBzerojtfBthreejtf Cash and cash equivalents BonejtfBfivejtfBzerojtfBcommajtfBsevenjtfBeightjtfBsixjtf BonejtfBeightjtfBsixjtfBcommajtfBthreejtfBsevenjtfBeightjtf Non-current assets held for sale and discontinued operations BthreejtfBcommajtfBonejtfBfourjtfBonejtf BthreejtfBcommajtfBonejtfBfourjtfBonejtf Current assets 1,160,414 992,301 Total assets 4,840,721 3,809,164 Equity and liabilities Subscribed capital BthreejtfBfourjtfBcommajtfBfivejtfBfourjtfBzerojtf BthreejtfBfourjtfBcommajtfBfivejtfBfourjtfBzerojtf Capital reserve BsevenjtfBsevenjtfBeightjtfBcommajtfBfourjtfBsevenjtfBfivejtf BsevenjtfBsevenjtfBeightjtfBcommajtfBfourjtfBsevenjtfBfivejtf Accumulated other comprehensive income –BtwojtfBeightjtfBcommajtfBsevenjtfBninejtfBninejtf–BfourjtfBsevenjtfBcommajtfBsixjtfBsixjtfBfivejtf Retained earnings BsevenjtfBtwojtfBeightjtfBcommajtfBfourjtfBonejtfBsixjtf BsevenjtfBfourjtfBsixjtfBcommajtfBtwojtfBonejtfBtwojtf Shareholders of Gerresheimer AG 1,512,632 1,511,562 Non-controlling interests BtwojtfBsevenjtfBcommajtfBthreejtfBthreejtfBfivejtf BtwojtfBsevenjtfBcommajtfBfivejtfBsevenjtfBninejtf Equity 1,539,967 1,539,141 Provisions for pensions and similar obligations BonejtfBzerojtfBthreejtfBcommajtfBninejtfBtwojtfBninejtf BninejtfBeightjtfBcommajtfBsevenjtfBfivejtfBeightjtf Other provisions BonejtfBfivejtfBcommajtfBeightjtfBeightjtfBthreejtf BonejtfBtwojtfBcommajtfBsevenjtfBthreejtfBsixjtf Financial debt BninejtfBonejtfBfourjtfBcommajtfBthreejtfBthreejtfBtwojtf BninejtfBonejtfBsixjtfBcommajtfBsixjtfBfivejtfBonejtf Contract liabilities BsevenjtfBfourjtfBcommajtfBsixjtfBfourjtfBzerojtf BsevenjtfBthreejtfBcommajtfBzerojtfBfourjtfBeightjtf Other financial liabilities BonejtfBfourjtfBcommajtfBsevenjtfBsevenjtfBsixjtf BonejtfBfivejtfBcommajtfBonejtfBzerojtfBtwojtf Other non-financial liabilities BfivejtfBeightjtfBcommajtfBonejtfBzerojtfBsixjtf BfivejtfBonejtfBcommajtfBeightjtfBeightjtfBtwojtf Deferred tax liabilities BtwojtfBonejtfBzerojtfBcommajtfBthreejtfBonejtfBzerojtf BonejtfBonejtfBsixjtfBcommajtfBthreejtfBfourjtfBthreejtf Non-current liabilities 1,391,976 1,284,520 Provisions for pensions and similar obligations BonejtfBtwojtfBcommajtfBfivejtfBfivejtfBfourjtf BonejtfBtwojtfBcommajtfBfivejtfBeightjtfBninejtf Other provisions BtwojtfBeightjtfBcommajtfBsevenjtfBfivejtfBzerojtf BtwojtfBsixjtfBcommajtfBfivejtfBsevenjtfBfivejtf Financial debt BonejtfBcommajtfBtwojtfBfourjtfBsevenjtfBcommajtfBsixjtfBeightjtfBeightjtf BthreejtfBsevenjtfBzerojtfBcommajtfBzerojtfBthreejtfBonejtf Trade payables and other liabilities BthreejtfBfivejtfBzerojtfBcommajtfBtwojtfBsixjtfBsixjtf BthreejtfBfivejtfBfourjtfBcommajtfBfivejtfBeightjtfBtwojtf Contract liabilities BsixjtfBcommajtfBonejtfBninejtfBeightjtf BfivejtfBcommajtfBonejtfBsixjtfBfivejtf Income tax liabilities BonejtfBsevenjtfBcommajtfBthreejtfBzerojtfBninejtf BonejtfBsixjtfBcommajtfBtwojtfBtwojtfBsevenjtf Other financial liabilities BonejtfBtwojtfBonejtfBcommajtfBfivejtfBfourjtfBzerojtf BninejtfBtwojtfBcommajtfBzerojtfBsixjtfBthreejtf Other non-financial liabilities BonejtfBtwojtfBfourjtfBcommajtfBfourjtfBsevenjtfBthreejtf BonejtfBzerojtfBeightjtfBcommajtfBtwojtfBsevenjtfBonejtf Current liabilities 1,908,778 985,503 Total equity and liabilities 4,840,721 3,809,164
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 8 Consolidated Statement of Cash Flows for the period from December 1, 2024, to February 28, 2025 In EUR k Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Net income –BonejtfBsevenjtfBcommajtfBfourjtfBeightjtfBeightjtf BonejtfBthreejtfBcommajtfBfourjtfBtwojtfBsixjtf Income taxes –BsevenjtfBcommajtfBeightjtfBthreejtfBonejtf BsixjtfBcommajtfBninejtfBonejtfBsevenjtf Financial result BfourjtfBzerojtfBcommajtfBfourjtfBthreejtfBsevenjtf BonejtfBonejtfBcommajtfBfivejtfBfourjtfBtwojtf Amortization/depreciation/impairment losses BsixjtfBsevenjtfBcommajtfBonejtfBeightjtfBeightjtf BfourjtfBsevenjtfBcommajtfBfourjtfBthreejtfBthreejtf Result of associated companies and other investement income BfivejtfBtwojtfBtwojtf BfivejtfBeightjtfBninejtf Change in provisions –BonejtfBcommajtfBonejtfBeightjtfBonejtf –BfivejtfBthreejtfBeightjtf Result of diposals of non-current assets/liabilities BonejtfBsixjtfBfourjtf –BonejtfBcommajtfBonejtfBfivejtfBtwojtf Interest paid –BsevenjtfBcommajtfBninejtfBeightjtfBtwojtf –BsixjtfBcommajtfBsevenjtfBonejtfBsixjtf Interest received BfourjtfBsixjtfBtwojtf BfourjtfBeightjtfBfourjtf Income taxes paid –BsevenjtfBcommajtfBsevenjtfBtwojtfBfourjtf –BsixjtfBcommajtfBfivejtfBtwojtfBthreejtf Income taxes received BonejtfBcommajtfBonejtfBfivejtfBsevenjtf BthreejtfBsixjtfBeightjtf Change in inventories –BfivejtfBonejtfBcommajtfBfivejtfBsevenjtfBsevenjtf –BtwojtfBthreejtfBcommajtfBfourjtfBninejtfBfourjtf Change in trade receivables as well as contract assets BtwojtfBzerojtfBcommajtfBfourjtfBsevenjtfBfivejtf –BfivejtfBcommajtfBfourjtfBeightjtfBthreejtf Change in trade payables and other liabilities as well as contract liabilities –BthreejtfBonejtfBcommajtfBfourjtfBonejtfBonejtf BfourjtfBcommajtfBsixjtfBfourjtfBthreejtf Change in net working capital –BsixjtfBtwojtfBcommajtfBfivejtfBonejtfBthreejtf –BtwojtfBfourjtfBcommajtfBthreejtfBthreejtfBfourjtf Other non-cash-effective items –BthreejtfBtwojtfBcommajtfBninejtfBninejtfBfivejtf –BonejtfBfourjtfBcommajtfBtwojtfBthreejtfBsevenjtf Cash flow from operating activities –27,784 27,259 Cash received from disposals of non-current assets BthreejtfBfivejtfBfourjtf BonejtfBcommajtfBsevenjtfBonejtfBonejtf Cash paid for capital expenditure in intangible assets and property, plant and equipment –BonejtfBonejtfBeightjtfBcommajtfBninejtfBzerojtfBthreejtf –BonejtfBonejtfBfivejtfBcommajtfBfivejtfBeightjtfBfivejtf Payments received from government grants BfivejtfBcommajtfBtwojtfBfivejtfBeightjtf BsevenjtfBcommajtfBthreejtfBonejtfBzerojtf Cash paid for capital expenditure in fully consolidated companies as well as other equity investments –BthreejtfBsixjtfBonejtfBcommajtfBfivejtfBeightjtfBsevenjtf – Cash flow from investing activities –474,878 –106,564 Dividend payments to third parties –BonejtfBcommajtfBzerojtfBtwojtfBtwojtf –BtwojtfBcommajtfBtwojtfBfivejtfBeightjtf Repayment of bonds –BthreejtfBfivejtfBzerojtfBcommajtfBzerojtfBzerojtfBzerojtf – Raising of revolving credit facilities BsixjtfBtwojtfBcommajtfBzerojtfBzerojtfBzerojtf BonejtfBonejtfBzerojtfBcommajtfBsevenjtfBthreejtfBeightjtf Raising of credit facilities - bridge loan acquisition Bormioli Pharma BsevenjtfBsevenjtfBfourjtfBcommajtfBzerojtfBzerojtfBzerojtf – Repayment of revolving credit facilities – –BfivejtfBfourjtfBcommajtfBeightjtfBthreejtfBonejtf Raising of other liabilities to banks BsixjtfBcommajtfBfourjtfBsixjtfBzerojtf BtwojtfBcommajtfBsevenjtfBfivejtfBzerojtf Repayment of other liabilities to banks –BthreejtfBzerojtfBcommajtfBthreejtfBfourjtfBonejtf –BthreejtfBcommajtfBtwojtfBsixjtfBthreejtf Cash paid for leases and installment purchase liabilities –BfivejtfBcommajtfBonejtfBzerojtfBonejtf –BfivejtfBcommajtfBzerojtfBfivejtfBsixjtf Other issues from financing activities –BonejtfBcommajtfBsixjtfBninejtfBninejtf BthreejtfBcommajtfBfivejtfBzerojtfBsevenjtf Cash flow from financing activities 454,297 51,587 Changes in financial resources –48,365 –27,718 Effect of exchange rate changes on financial resources BtwojtfBcommajtfBfivejtfBfivejtfBonejtf BfivejtfBsevenjtfBsevenjtf Financial resources at the beginning of the period BonejtfBeightjtfBthreejtfBcommajtfBninejtfBfourjtfBonejtf BonejtfBtwojtfBtwojtfBcommajtfBtwojtfBsixjtfBfourjtf Financial resources at the end of the period 138,127 95,123 Components of the financial resources Cash and cash equivalents BonejtfBfivejtfBzerojtfBcommajtfBsevenjtfBeightjtfBsixjtf BonejtfBzerojtfBsixjtfBcommajtfBfourjtfBninejtfBeightjtf Overdraft facilities –BonejtfBtwojtfBcommajtfBsixjtfBfivejtfBninejtf –BonejtfBonejtfBcommajtfBthreejtfBsevenjtfBfivejtf Financial resources at the end of the period 138,127 95,123 A consideration of EUR 389.6m for the share and EUR 0.9m for the redemption of a shareholder loan was paid for the acquisi- tion of Bormioli Pharma. Cash and cash equivalents amounted to EUR 28.0m at the time of acquisition. The purchase price al- location had not yet been completed at the time this quarterly statement was prepared.
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Gerresheimer AG QUARTERLY STATEMENT FOR Q1 202 5 9 Reconciliation of Adjusted EBITDA to Net Income for the period from December 1, 2024, to February 28, 2025 In EUR m Q1 2025 QBonejtf BtwojtfBzerojtfBtwojtfBfourjtf Change Adjusted EBITDA Plastics & Devices BsixjtfBthreejtfBperiodjtfBfourjtf BfivejtfBninejtfBperiodjtfBthreejtf BfourjtfBperiodjtfBonejtf Adjusted EBITDA Primary Packaging Glass BfourjtfBzerojtfBperiodjtfBtwojtf BthreejtfBfourjtfBperiodjtfBeightjtf BfivejtfBperiodjtfBfourjtf Adjusted EBITDA Advanced Technologies –BfourjtfBperiodjtfBfourjtf –BfivejtfBperiodjtfBonejtf BzerojtfBperiodjtfBsevenjtf Adjusted EBITDA Corporate functions/consolidation –BsevenjtfBperiodjtfBsevenjtf –BeightjtfBperiodjtfBonejtf BzerojtfBperiodjtfBfourjtf Adjusted EBITDA 91.5 80.9 10.6 Depreciation/amortization and impairment losses –BfourjtfBninejtfBperiodjtfBeightjtf –BthreejtfBsixjtfBperiodjtfBsevenjtf –BonejtfBthreejtfBperiodjtfBonejtf Depreciation/amortization and impairment losses of fair value adjustments –BonejtfBsevenjtfBperiodjtfBonejtf –BninejtfBperiodjtfBsevenjtf –BsevenjtfBperiodjtfBfourjtf Exceptional income and expenses including restructuring –BninejtfBperiodjtfBfivejtf –BtwojtfBperiodjtfBsixjtf –BsixjtfBperiodjtfBninejtf Operating income 15.1 31.9 –16.8 Financial result –BfourjtfBzerojtfBperiodjtfBfourjtf –BonejtfBonejtfBperiodjtfBsixjtf –BtwojtfBeightjtfBperiodjtfBeightjtf Income taxes BsevenjtfBperiodjtfBeightjtf –BsixjtfBperiodjtfBninejtf BonejtfBfourjtfBperiodjtfBsevenjtf Net income –17.5 13.4 –30.9 Depreciation/amortization and impairment losses of fair value adjustments BonejtfBsevenjtfBperiodjtfBonejtf BninejtfBperiodjtfBsevenjtf BsevenjtfBperiodjtfBfourjtf Exceptional income and expenses including restructuring BninejtfBperiodjtfBfivejtf BtwojtfBperiodjtfBsixjtf BsixjtfBperiodjtfBninejtf Exceptional expenses on financial result BonejtfBninejtfBperiodjtfBsixjtf – BonejtfBninejtfBperiodjtfBsixjtf Tax effects –BonejtfBtwojtfBperiodjtfBfourjtf –BtwojtfBperiodjtfBsevenjtf –BninejtfBperiodjtfBsevenjtf Adjusted net income 16.3 23.0 –6.7 Non-controlling interests BzerojtfBperiodjtfBsixjtf BzerojtfBperiodjtfBfourjtf BzerojtfBperiodjtfBonejtf Adjusted net income attributable to shareholders of Gerresheimer AG 15.7 22.6 –6.9 Adjusted EPS attributable to shareholders of Gerresheimer AG in euros 0.46 0.65 –0.19 Amortization and impairment losses of fair value adju stments related in the first quarter 2024 to the subsequent meas ure- ment of intangible assets identified in connection with the ac- quistions made in the period 2007 to 2018. At the st art of the financial year 2025, Gerresheimer expanded the scope of depre- ciation, amortization and impairment losses of fair vale adjust- ments to include depreciation, amortization and impai rment losses related to the subsequent measurement of propert y, plant and equipment, in particular to properly reflect the signif- icant effects of the purchase price allocation in connection with the acquisition of Bormioli Pharma. As a result, depre ciation, amortization and impairment losses on fair value adjustments in the first quarter of 2025 result from subsequent measurement of intangible assets and property, plant and equipment. The new definition applies for the first time to subsequent measurement in connection with the acquisition of Bormioli Pharm a. Depreciation, amortization and impairment losses from subse- quent measurement of property, plant and equipment from ac- quistions made in the period 2007 to 2018 are not adjusted. In the first quarter of the financial year 2025, fair value adjust- ments were exclisively subject to scheduled depreciat ion and amortization. Net income in the first quarter of 2025 was negatively impacted by exceptional income and expenses including restructuring to- taling EUR 9.5m (comparative prior-year period: EUR 2.6m). The change is mainly due to the one-off items in connection with the acquisition of Bormioli Pharma and new plant constru ction at our sites in the USA and in the Republic of North Macedonia.
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Gerresheimer AG QUARTERLY STATE MENT FOR Q1 2025 10 Financial Calendar June 5, 2025 Annual General Meeting 2025 July 10, 2025 Publication Half-year Financial Report 2025 October 10, 2025 Publication of Quarterly Statement of the 3rd Quarter 2025 Share Reference Data ISIN DE000A0LD6E6 WKN A0LD6E Bloomberg ticker symbol GXI Reuters ticker symbol GXIG.DE Imprint Publisher Gerresheimer AG Klaus-Bungert-Strasse 4 40468 Düsseldorf Germany Phone +49 211 6181-00 Fax +49 211 6181-295 E-Mail info@gerresheimer.com www.gerresheimer.com Disclaimer This Quarterly Statement contains certain future-oriente d statements. Future-oriented statements include all statements that do not relate to historical facts and events and contain fu- ture- oriented expressions such as “believe,” “estimat e,” “as- sume,” “expect,” “forecast,” “intend,” “could,” or “should,” or ex- pressions of a similar kind. Such future-oriented statements are subject to risks and uncertainties since they relate t o future events and are based on the Company’s current assumptions, which may not take place or be fulfilled as expected in the fu- ture. The Company points out that such future-oriented state- ments provide no guarantee for the future and that actu al events, including the financial position and profitabi lity of the Gerresheimer Group and developments in the economic and regulatory fundamentals, may vary substantially (particularly on the down side) from those explicitly or implicitly assumed or de- scribed in these statements. Even if the actual resul ts for the Gerresheimer Group, including its financial position and profita- bility and the economic and regulatory fundamentals, are in ac- cordance with such future-oriented statements in this Quarterly Statement, no guarantee can be given that this will continue to be the case in the future. Note regarding the rounding of figures Due to the commercial rounding of figures and percent ages, small deviations may occur. Remarks on calculation All changes in percent were calculated on a thousand-euro ba- sis. Slight deviations may therefore occur when stating figures in millions of euros in the tables. Note regarding the translation This Quarterly Statement is the English translation of the origi- nal German version; in case of deviations between the se two, the German version prevails. Additional Information