Gerresheimer AG / Key word(s): Acquisition/Change in Forecast 28.07.2015 00:08 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Today Gerresheimer AG has reached an agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding Inc. Gerresheimer AG will further extend its primary pharmaceutical packaging business with the acquisition of Centor. Founded in 1968 and based in Perrysburg (Ohio, USA), Centor is the leading manufacturer of plastic vials and closures for oral drugs in the prescription retail market in the US. Centor is a carve-out of Nemera Group, a former business of Rexam Healthcare divested in 2014. Centor's annual revenue in 2014 amounted to USD 167m (pro forma). The total consideration amounts to USD 725m cash-free and debt-free. The enterprise value underlying the transaction represents approx. 9.8x LTM June 2015 EBITA (pro forma). It will be an all cash acquisition which is fully debt financed. A quick deleveraging after the acquisition is expected driven by Gerresheimer's high cash generation. The closing of the transaction is subject to regulatory approval and expected during the fourth quarter of financial year 2015. The transaction is expected to be adjusted EPS accretive by a low double digits percentage already in financial year 2016. Assuming a completion of the Centor acquisition during the fourth quarter of the financial year 2015, Gerresheimer's first indication for the financial years 2016 to 2018 is as follows: - Annual organic revenue growth is expected to average 4% to 5% (previous mid-term outlook, dating July 9, 2015: +4% to +6%) - on a higher revenue base increased by Centor revenues (FY 2014 USD 167m (pro forma)). Organic growth means a growth at constant FX rates, excluding acquisitions, divestments and optimizations of the business portfolio. - The adjusted EBITDA margin will amount to approximately 22% by 2018 at constant exchange rates (previous mid-term outlook, dating July 9, 2015: approximately 20%). - Capital expenditure will be in the range of 8.0% to 9.0% of revenues at constant exchange rates (previous mid-term outlook, dating July 9, 2015: 8.0% to 9.5% of revenues). The average budgeted exchange rate assumption is a EUR/USD exchange rate of EUR 1.00 = USD 1.30. Gerresheimer AG The Management Board 28.07.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Gerresheimer AG Klaus-Bungert-Str. 4 40468 Düsseldorf Germany Phone: +49-(0)211/61 81-00 Fax: +49-(0)211/61 81-295 E-mail: a.linnartz@gerresheimer.com Internet: http://www.gerresheimer.com ISIN: DE000A0LD6E6, XS0626028566 WKN: A0LD6E, A1H3VP Indices: MDAX (Aktie) Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Gerresheimer AG: Gerresheimer will acquire Centor - higher profitability expected
| Source: EQS Group AG