Navigation Links
Gerresheimer: Record Year in 2007 and Positive Outlook for 2008

DUSSELDORF, Germany, February 26 /PRNewswire-FirstCall/ --

- Sales in 2007 Increased by 48.1% to EUR957.7m

- Operating Results (Adjusted EBITDA) up by 48.1% at EUR181.6m

- Proposed Dividend: EUR0.40 Per Share - CEO Dr. Axel Herberg: "For the Financial Year 2008 we Expect Further Sales Growth, With an Improved Margin."

Gerresheimer AG has finished the financial year 2007 with record figures in terms of sales and results. The company increased its sales by 48.1% to EUR957.7m (2006: EUR646.7m). Excluding acquisition and exchange-rate effects, Gerresheimer reports above-average sales growth of 8.4%. Operating results (Adjusted EBITDA) rose by 48.1% from EUR122.6m in the prior year to EUR181.6m. The company's operating strength is shown by the Adjusted EBITDA margin of 19.0%.

The debt level before the IPO and the one-off costs of the IPO are reflected in consolidated results of EUR0.8m (2006: EUR-25.0m). In the fourth quarter, however, consolidated results already totalled EUR13.9m, reaching a level which was no longer depressed by IPO costs and for the first time reflected the company's low level of debt. The adjusted consolidated results improved strongly during the financial year to EUR44.3m (2006: EUR8.7m).

"We have achieved all the targets we set ourselves for 2007 and in many cases exceeded them. For our company we look back over a very successful financial year", says Dr. Axel Herberg, CEO of Gerresheimer AG. Against the background of this brilliant business development, the Management Board and the Supervisory Board will propose to the Shareholders' Meeting that a dividend is already distributed for the financial year of the IPO, which is to amount to EUR0.40 per share.

Continuation of globalisation strategy

The strong growth of Gerresheimer AG is attributable on the one hand to above-average organic growth and on the other hand to acquisitions. The Wilden Group, which was acquired at the start of 2007 has already been fully integrated and made a sustained contribution to the results of the Gerresheimer Group. Beyond this, Gerresheimer also expanded its global presence through a number of acquisitions and joint ventures. The company now operates in a worldwide total of 41 locations and employs more than 10,800 people.

Positive development in all Divisions

Sales by the Tubular Glass Division in 2007 totalled EUR271.2m, up 11.4% on the prior year level of EUR243.4m. Adjusted EBITDA increased to EUR66.7m (2006: EUR61.9m). A particularly strong contribution to this growth was made by the 6% increase in sales of ready to fill (RTF(R)) syringes. Through the commissioning of a second RTF(R) syringe line, Gerresheimer has substantially expanded its production capacity in order to meet the continuing high level of demand. A third production line of this type is already in the planning stage and is expected to be commissioned in 2009.

In 2007 the Plastic Systems Division achieved sales of EUR299.7m compared with EUR48.2m in the prior year, and Adjusted EBITDA of EUR56.1m (prior year: EUR12.0m). This improvement was largely attributable to the acquisition of the Wilden Group, which during the eleven months of its membership of the Gerresheimer Group made a substantial contribution to the results of the Plastic Systems Division. Growth in the core business of medical plastic systems was particularly gratifying.

Increased sales of bottles for the pharmaceutical industry and of perfume flacons and cream pots for the cosmetics industry resulted in organic sales growth of 8.7% for the Moulded Glass Division. Overall the Division achieved sales of EUR318.8m (2006: EUR299.4m) and a 19.7% rise in Adjusted EBITDA to EUR65.1m (prior year: EUR54.4m). The marked margin improvement is attributable to consistent measures to enhance productivity.

The joint venture entered into with Thermo Fisher Scientific in mid-2007 meant that business in the Life Science Research Division was substantially expanded. Sales by the Division rose by EUR29.4% to EUR72.2m (prior year: EUR55.8m). Adjusted EBITDA improved to EUR7.7m (prior year: EUR6.4m). Integration of the Chinese joint venture and expansion of production in China are proceeding according to plan. The competitive position of the Life Science Research division has therefore been substantially strengthened.

Further growth in the financial year 2008

The new financial year for Gerresheimer AG started on 1 Decem­ber 2007. CEO Dr. Axel Herberg believes that his management's strategies have once more been confirmed: "As expected, we have had a successful start to the year. In the highly specialised markets for packaging and system solutions, Gerresheimer is widely recognised as a leading global partner for the pharma & life science industry. I have no doubt that in the current year we will be able not only to consolidate our position but expand it intensively. We will continue to grow."

On the basis of continuously increasing demand for special packaging for the pharma & life science industry, Gerresheimer expects a sales increase of between 13% and 15%. The Adjusted EBITDA margin will, according to the target for the year, improve in parallel beyond 19%. Planned investments in 2008 total EUR105-110m.

About Gerresheimer

Gerresheimer employs more than 10,800 people in 41 locations in Europe, America and Asia. In the financial year 2007, worldwide sales totalled EUR957.7m. The product portfolio ranges from pharmaceutical vials made of glass and plastic through to complex drug-delivery systems for the pharma & life science industry. These include sterile syringes, inhalers and other system-based approaches for safe dosage and application of medications. The Group enjoys a leading position in markets which are characterised by high technical and regulatory barriers.

Press Dates

Interim report 1st Quarter 2008 April 14, 2008

Annual General Meeting April 17, 2008

Interim report 2nd Quarter 2008 July 15, 2008

Interim report 3rd Quarter 2008 October 15, 2008

Annual financial statements 2008 February 17, 2009

Group Key Figures (IFRS) (Fiscal Year ends November 30)

EUR million Q4 2007 Q4 2006 Change % FY 2007 FY 2006 Change %

Net sales 260.3 170.0 +53.1 957.7 646.7 +48.1

Adjusted EBITDA(1) 57.2 39.7 +44.1 181.6 122.6 +48.1

in % of net sales 22.0 23.4 19.0 19.0

Adjusted EBITA 39.3 27.2 +44.5 116.6 73.8 +58.0

in % of net sales 15.1 16.0 12.2 11.4

Profit from operations 18.5 15.6 +18.6 53.3 21.8


Net income 13.9 2.0 0.8 -25.0

Adjusted net income(2) 28.0 5.6 44.3 8.7

Earnings per share 0.42 -0.04

Adjusted earnings per 0.87 1.34


Segment Key Figures

EUR million Q4 2007 Q4 2006 Change % FY 2007 FY 2006 Change %

Tubular Glass

Net sales 72.2 62.6 +15.3 271.2 243.4 +11.4

Adjusted EBITDA 18.9 16.1 +17.4 66.7 61.9 +7.8

Plastic Systems

Net sales 81.1 13.3 299.7 48.2

Adjusted EBITDA 17.9 4.1 56.1 12.0

Moulded Glass

Net sales 84.5 80.4 +5.1 318.8 299.4 +6.4

Adjusted EBITDA 19.9 20.5 -2.9 65.1 54.4 +19.7

Life Science Research

Net sales 24.5 13.4 +82.8 72.2 55.8 +29.4

Adjusted EBITDA 3.1 1.9 +63.2 7.7 6.4 +20.3

(1) Adjusted EBITDA: Earnings before income taxes, financial result, depreciation and amortization, restructuring expenses and one-off income and expenses

(2) Net income before non-cash amortization of fair value adjustments, special effects from restructuring expenses and the balance of one-off income and expenses (including significant non-cash expenses) and the related tax effects
(3) Adjusted net income after minorities divided by 31.4m shares

Contact Press

Burkhard Lingenberg

Director Corporate PR & Marketing

Telephone +49-211-6181-250

Telefax +49-211-6181-241

e-mail e-mail

Contact Investor Relations

Anke Linnartz

Director Corporate Investor Relations

Telephone +49-211-6181-314

Telefax +49-211-6181-121

SOURCE Gerresheimer AG
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. CIGNA Medical Group Selects Allscripts for Electronic Health Record
2. Eklin Medical Reports Record Revenues for 2007
3. Hayes Clinical Labs to Market MedeFiles Proprietary Electronic Medical Record Management Solution to Patients
4. GeoPharma Announces Record Revenues in Third Quarter Results
5. Halogen Announces Record Year - Company Solidifies Leadership Position, Secures Strategic Wins Over Competition
6. Cynosure Reports Record Revenues and Net Income for the Fourth Quarter of 2007
7. BioSpace Career Fair in San Diego Draws Record Number of Bioscience Candidates
8. Uroplasty Reports Record Sales for Third Fiscal Quarter and Nine Months Ended December 31, 2007
9. Bioponic Phytoceuticals Announces Record Sales Increase of 40% for the Month of January
10. Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008
11. 2007 Another Record Year in Terms of Sales and Earnings for Gerresheimer
Post Your Comments:
(Date:10/12/2017)... ... October 12, 2017 , ... They call it the “hairy ... a depiction of a system of linkages and connections so complex and dense ... of computer science at Worcester Polytechnic Institute (WPI) and director of the university’s ...
(Date:10/12/2017)... ca (PRWEB) , ... October 12, 2017 , ... ... the Surgical Wound Market with the addition of its newest module, US Hemostats ... $1.2B market for thrombin hemostats, absorbable hemostats, fibrin sealants, synthetic sealants and biologic ...
(Date:10/11/2017)... ... 11, 2017 , ... The CRISPR-Cas9 system has ... and avoiding the use of exogenous expression plasmids. The simplicity of programming this ... gain-of-function studies. , This complement to loss-of-function studies, such as with RNAi ...
(Date:10/11/2017)...  VMS BioMarketing, a leading provider of patient support solutions, ... Educator (CNE) network, which will launch this week. The VMS ... care professionals to enhance the patient care experience by delivering ... health care professionals to help women who have been diagnosed ... ...
Breaking Biology Technology:
(Date:4/11/2017)... BROOKLYN, N.Y. , April 11, 2017 /PRNewswire-USNewswire/ ... identical fingerprints, but researchers at the New York ... University College of Engineering have found that partial ... fingerprint-based security systems used in mobile phones and ... previously thought. The vulnerability lies in ...
(Date:4/5/2017)... , April 5, 2017  The Allen Institute for ... Cell Explorer: a one-of-a-kind portal and dynamic digital window ... imaging data, the first application of deep learning to ... stem cell lines and a growing suite of powerful ... for these and future publicly available resources created and ...
(Date:4/4/2017)... YORK , April 4, 2017   EyeLock ... today announced that the United States Patent and Trademark ... patent broadly covers the linking of an iris image ... same transaction) and represents the company,s 45 th ... latest patent is very timely given the multi-modal biometric ...
Breaking Biology News(10 mins):