Gerresheimer Ag · XETR:GXI
Gerresheimer — Q3 2026 Earnings Presentation
25 slides from Gerresheimer's earnings presentation, Oct 30, 2026
Slide 1: Q3 2026 – Preliminary Results Presentation
Q3 2026 – Preliminary Results Presentation October 30, 2026
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 or
Slide 3: Q3 2026 Preliminary Overview
Q3 2026 Preliminary Overview
Slide 4: Q3 at EUR 103m Adj. EBITDA similar level as Q2; Expecting stronger Q4
Q3 at EUR 103m Adj. EBITDA similar level as Q2; Expecting stronger Q4; Centor closed on Oct 1, exp. Primary Packaging Plastics closing in Q1 Executing transformation roadmap Q3 Adj. EBITDA at EUR 103m, margin at 17%; similar level as Q2; stronger Q4 expected Signed divestitures on 29 July – closing
Slide 5: Q3 2025 Effects from Adjustments Resulted in ~unchanged revenues and EBITDA +3%
Q3 2025 Effects from Adjustments Resulted in ~unchanged revenues and EBITDA +3% Q3 25 revenues unchanged, adj. EBITDA EUR +3m Revenues* Adj. EBITDA* (EURm) (EURm) 561 560 103 106 Δ0 Δ3 3 18.4% 19.0% Corrections consist of 3 Other 1 0 Bill and Hold -1 0 Q3 2025 Q3 2025 Q3 2025 Q3 2025 Revenues Adj. o
Slide 6: Q3 Revenues EUR +45m, Adj. EBITDA EUR -3m Year-on-Year
Q3 Revenues EUR +45m, Adj. EBITDA EUR -3m Year-on-Year Impacted by Inventory Rigor; Cash Flow EUR -20m as expected and aligned with CapEx spend Stable EBITDA versus Q2 2026 Revenues* (EURm) Adj. EBITDA* (EURm) FCF before M&A* (EURm) +8% 605 Organically, 106 103 21 adj. for Fx 560 effects: 604m Organ
Slide 7: Preliminary Q3 2026 Financial Performance
Preliminary Q3 2026 Financial Performance
Slide 8: Containment and Delivery Systems – Peachtree Ramp-Up Remains Growth Driver
Containment and Delivery Systems – Peachtree Ramp-Up Remains Growth Driver Revenues and adj. EBITDA growth mainly driven by successful Peachtree ramp-up in Medical Devices In EURm Revenues* Revenues +9% 313 ▪ Revenues up EUR 27m YoY 286 ▪ Continued ramp-up of the Peachtree site in the US driving gro
Slide 9: Primary Injectable Solutions – Strong Quarter in Syringe Systems
Primary Injectable Solutions – Strong Quarter in Syringe Systems Top- and bottom-line increase in Syringe Systems; Tubular Glass focus on restructuring at TG Europe In EURm Revenues* Revenues +8% 123 ▪ Revenues increase EUR 9m YoY and EUR 12m QoQ 114 ▪ Increase mainly driven by Syringe Systems ▪ Tub
Slide 10: Moulded Glass – Sales ~Flat YoY, EBITDA at 10%
Moulded Glass – Sales ~Flat YoY, EBITDA at 10% incl. strong inventory rigor Chicago Heights plant closed in September In EURm Revenues* Revenues +2% 165 169 ▪ Revenues ~flat; slightly up EUR 4m YoY and QoQ ▪ Flat pharma revenues, Europe offsetting YoY decline in Chicago Heights ▪ Food & Beverages si
Slide 11: Main Cash Flow Drivers: Funding transformation, Interest and Tax, Capex
Main Cash Flow Drivers: Funding transformation (Adj’ts), Interest and Tax as Expected, Continuing to Manage Capex Rigorously 103 Note: Q3 25 at EUR 64m 9 By Type in Q3 26: -EUR ~27m base 5 -EUR ~30m growth By Segment in Q3 26: 20 -EUR ~23m CDS EUR 20m inventory reduction -EUR ~16m PIS -EUR ~17m MG P
Slide 12: Financing as of Prel. Q3 2026 – Solid Liquidity and Divestitures Reduce Debt
Financing as of Prel. Q3 2026 – Solid Liquidity and Divestitures Reduce Debt Solid liquidity in Q3 2026; leverage covenant suspended up and including Q3; well positioned for a refinancing at ~3x leverage aligned with Centor & PPP closing Net Financial Debt as of Preliminary Q3 2026 Maturity Profile
Slide 13: Upcoming Events
Upcoming Events Financial Reporting and Conferences Financial Calendar Investor Conferences 2026/27 Publication Half-year Back-to-School Healthcare Series by Jefferies End of November 2026 Financial Report 2026 November 6 (Virtual) Publication Quarterly Global Healthcare Conference by Jefferies Dece
Slide 14: Closing Remarks and Next Steps
Closing Remarks and Next Steps Executing Roadmap to profitable High Value Primary Packaging and Drug Delivery Solutions Provider • Deliver strong Q4 to successfully finish 2026 • Closed Centor on 01 Oct; PPP transaction currently expected to close already in Q1 2027 • Targeting leverage at sustainab
Slide 15: Appendix
Appendix
Slide 16: Revenues Improved by EUR +26m; EBITDA stable and Cash Flow better by EUR +72m
Revenues Improved by EUR +26m; EBITDA stable and Cash Flow better by EUR +72m All segments contributing positively quarter on quarter Revenues* (EURm) Adj. EBITDA* (EURm) FCF before M&A* (EURm) 605 102 103 579 -20 17.6% 17.1% -92 Q2 2026 prel. Q3 2026 Q2 2026 prel. Q3 2026 Q2 2026 prel. Q3 2026 All
Slide 17: 2025 Effects from Restatements Resulted in Revenues +1% and EBITDA +5%
2025 Effects from Restatements Resulted in Revenues +1% and EBITDA +5% Q3 25 YTD impact of corrections referring revenues and adjusted EBITDA (EURm) Revenues* Adj. EBITDA* 1,681 1,705 331 23 Δ23 314 Δ17 -17 17 18.7% 19.4% Corrections 8 Bill and Hold 25 consist of 9 Q3 2025 Q3 2025 Q3 2025 Q3 2025 Ot
Slide 18: Q3 YTD: EBITDA driven by less inventory build; FCF impacted by less reverse factoring
EBITDA mainly driven by ~EUR 60m less Inventory Build and lower performance in TG Europe and Moulded Glass; FCF Impacted by ~EUR 80m less Reverse Factoring vs. Managing CapEx As reported revenues, adjusted EBITDA and cash flow; FX as is Revenues* (EURm) Adj. EBITDA* (EURm) FCF before M&A* (EURm) 0%
Slide 19: Containment and Delivery Systems – Peachtree Ramp Up Coming Through
Containment and Delivery Systems – Peachtree Ramp Up Coming Through Revenues and Adj. EBITDA growth mainly driven by successful Peachtree Ramp Up in Medical Devices In EURm Revenues* Revenues +5% 917 ▪ Increase driven by Medical Systems (MDS) with ramp-up of Peachtree Site in the US delivering resul
Slide 20: Primary Injectable Solutions – Focusing on TG Europe Restructuring
Primary Injectable Solutions – Focusing on TG Europe Restructuring Revenue decline ~2/3 driven by Tubular Glass and ~1/3 by Syringes Systems In EURm Revenues* Revenues -7% 360 ▪ Revenue in Syringe Systems YoY down in Q3 YTD; increase in 335 Q3 contributes to expected stronger H2 ▪ Revenue decline in
Slide 21: Moulded Glass – Lower Revenue Combined with Inventory Reduction
Moulded Glass – Lower Revenue Combined with Inventory Reduction Led to Low Asset Utilization Impacting EBITDA Chicago Heights plant closed In EURm Revenues* Revenues -3% 492 ▪ Lower revenues in parenteral type 1 (Chicago Heights furnace repair) and type 3 pharma containers (Europe) were 479 key driv
Slide 22: FCF in Q3 YTD impacted by reduction of reverse factoring
FCF in Q3 26 YTD impacted by reduction of reverse factoring > EUR 80m (AP); managed Capex to less than 2/3 of last year 272 Note: Q3 YTD 25 at EUR 114 237m = 1.6x By Type in Q3 YTD 26: -EUR ~61m base 16 -EUR ~88m growth By Segment in Q3 YTD 26: -EUR ~55m CDS Inventory of EUR +1m vs. EUR - 72 -EUR ~5
Slide 23: innovating for a better life
innovating for a better life
Slide 24: New Segmentation 2026 – Divestitures Accelerating Progress
New Segmentation 2026 – Divestitures Accelerating Progress Towards High Value Primary Packaging and Drug Delivery Solutions Next: Closing PPP Divestiture Containment & Primary Injectable Moulded Glass* Delivery Systems Solutions Divestiture PPP (WIP) Centor (sold) Medical Device Systems Advanced Tec
Slide 25: Guidance Gerresheimer Group – Unchanged
Guidance Gerresheimer Group – Unchanged* FY 2026 Guidance (organic; before M&A) Revenues Adjusted EBITDA Free Cashflow Lower Half of EUR 2.3- ~17-18% EUR -50m FY 2026 2.4bn Margin to -100m • Revenues for the full year with moderate to flattish growth over 2025 Level – confirming lower half of guidan