Navigation Links
Solid Second Quarter 2013 for Gerresheimer
Date:7/9/2013

DUESSELDORF, Germany, July 10, 2013 /PRNewswire/ --

  • Second-quarter revenues up 4.2% to EUR 327.1m
  • Adjusted EBITDA of EUR 59.8m slightly above prior-year quarter (up 0.5%)
  • Adjusted net income at EUR 21.5m (up 0.9%)
  • Adjusted earnings per share on a par with prior-year quarter, at EUR 0.63
  • Guidance for financial year 2013 made more specific

Gerresheimer AG, one of the leading partners to the pharma and healthcare industry worldwide, generated solid figures in the second quarter of the 2013 financial year."Our strategy is geared to sustained, profitable growth.We continue to be successful in implementing that strategy.In the second quarter, we saw notable growth particularly in our medical systems for drug delivery and in pharmaceutical plastic packaging.Our latest acquisitions in India are also developing very well," said Uwe Röhrhoff, CEO of Gerresheimer AG.

Gerresheimer increased revenues in the second quarter of financial year 2013 (financial year from December 1 to November 30) by 4.2% to EUR 327.1m. The revenue growth mainly reflects strong business in the Plastic Systems Division with pharmaceutical primary packaging, insulin pens and inhalers. Triveni, an Indian company specializing in pharmaceutical plastic packaging acquired in December 2012, likewise contributed to the increase in revenues. The Moulded Glass Division generated healthy growth rates notably with the sale of cosmetic glass packaging.

Gerresheimer recorded adjusted EBITDA of EUR 59.8m in the second quarter of 2013, an increase of 0.5% on the prior-year quarter. The adjusted EBITDA margin was 18.3%, below the 19.0% margin in the comparative period. The main causes of the decreased margin comprised the anticipated high cost of improving the production of prefillable syringes at a German plant and quality problems in the manufacture of glass ampoules identified at a Mexican plant during the second quarter.

Adjusted net income for the second quarter came to EUR 21.5m, 0.9% more than in the prior-year quarter (EUR 21.3m). Adjusted earnings per share were exactly on a par with the prior-year quarter, at EUR 0.63. Gerresheimer's capital expenditure in the second quarter of 2013 was EUR 33.4m, EUR 2.0m more than a year earlier.

Outlook

For financial year 2013, Gerresheimer continues to expect revenue growth of 5% to 6% at constant exchange rates. For adjusted EBITDA, the company has made its guidance more specific with a range of between EUR 245m and EUR 250m. Attainment of the revenue growth guidance of 5% to 6% would correspond to a potential adjusted EBITDA margin range of approximately 19.0% to 19.4%. Largely due to the healthy growth prospects in the Plastic Systems Division, capital expenditure in financial year 2013 will represent some 9% to 10% of exchange rate adjusted revenues.

- Cross reference: The press release including Group Key Figures is available at http://ots.de/AyUB2 -

The online annual report is available at: http://annualreport2012.gerresheimer.com

Contact:
Jens Kürten
Director Corporate Communication & Marketing
Phone: +49-211-6181-250
Fax:   +49-211-6181-241
E-Mail: j.kuerten@gerresheimer.com
Internet: http://www.gerresheimer.com


'/>"/>
SOURCE Gerresheimer AG
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Confluent Translations Consolidates Marketing Efforts
2. Pfenex Inc. Awards Glide Pharma Development Contract for a Solid Formulation of Recombinant Anthrax Vaccine
3. Sunset World will Consolidate its Presence in the Mexican Caribbean in 2013
4. Researchers nanoweld by applying light to aligned nanorods in solid materials
5. China Cord Blood Corporation Announces Completion of Corporate Structure Consolidation
6. NSG Precision Leads Industry with Solid-State Nano-Deposition Calibration Standards
7. Florida-Based Team Gemini Signs Recycling Facility Agreement with Solid Waste Authority of Central Ohio
8. China Cord Blood Corporation to Further Consolidate its Corporate Structure
9. A KAIST research team has developed a high performance flexible solid state battery
10. Karyopharm Therapeutics Announces Multiple Presentations on Selective Inhibitors of Nuclear Export (SINE) in Solid and Hematologic Malignancy Models and Spontaneous Canine Cancers at the American Association of Cancer Research (AACR) Meeting
11. Nabsys to Present DNA Sequence Data from Solid-State Nanodetectors at the Annual Advances in Genome Biology and Technology (AGBT) Meeting and the EMBL Omics and Personalized Health Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... SILVER SPRING, Md. , June 23, 2016 ... evidence collected from the crime scene to track the criminal ... sick, and the U.S. Food and Drug Administration (FDA) uses ... Sound far-fetched? It,s not. ... whole genome sequencing to support investigations of foodborne illnesses. Put ...
(Date:6/23/2016)... ... June 23, 2016 , ... Charm ... Mold) microbial test has received AOAC Research Institute approval 061601. , “This is ... last year,” stated Bob Salter, Vice President of Regulatory and Industrial Affairs. “The ...
(Date:6/23/2016)... -- The Biodesign Challenge (BDC), a university competition that asks ... systems and biotechnology, announced its winning teams at the ... York City . The teams, chosen ... MoMA,s Celeste Bartos Theater during the daylong summit. Keynote ... of architecture and design, and Suzanne Lee , ...
(Date:6/23/2016)... ... June 23, 2016 , ... Supplyframe, the Industry Network for ... Design Lab . Located in Pasadena, Calif., the Design Lab’s mission is to ... are designed, built and brought to market. , The Design Lab is Supplyframe’s ...
Breaking Biology Technology:
(Date:6/16/2016)... June 16, 2016 The ... expected to reach USD 1.83 billion by 2024, ... Research, Inc. Technological proliferation and increasing demand in ... expected to drive the market growth. ... The development of advanced multimodal techniques for ...
(Date:6/9/2016)... -- Paris Police Prefecture ... to ensure the safety of people and operations in several ... tournament Teleste, an international technology group specialised in ... that its video security solution will be utilised by ... safety across the country. The system roll-out is scheduled for ...
(Date:6/2/2016)... The Department of Transport Management (DOTM) of ... Dollar project, for the , Supply and Delivery ... IT Infrastructure , to Decatur ... Identity Management Solutions. Numerous renowned international vendors participated in the ... was selected for the most compliant and innovative solution. The ...
Breaking Biology News(10 mins):