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Gerresheimer Achieves Solid Growth in Core Markets - Outlook Confirmed
Date:4/2/2009

DUSSELDORF, Germany, April 2 /PRNewswire-FirstCall/ -- In the first quarter of 2009 (December 2008 to February 2009) Gerresheimer AG maintained its total sales figure of EUR237.3m (Q1 2008: EUR239.1m) almost at the prior year level despite the difficult overall situation in the world economy. In the core business, however, sales by the MDAX company actually rose by 2.8 % to EUR228.7m

The operating result (adjusted EBITDA) fell in comparison with the prior year period from EUR43.0m to EUR38.3m. This is attributable to a slightly negative result in the segment of Technical Plastics and temporary capacity adjustments. The operating margin (adjusted EBITDA margin) of Gerresheimer AG came to 16.1 % for this period (Q1 2008: 18.0%), although in the core business it reached a solid 17.1 %. Adjusted net income for the Group in the first quarter of 2009 totaled EUR6.4m (Q1 2008: EUR9.9m).

Despite the difficult overall economic environment Gerres­heimer achieved profitable growth in its core markets in the first quarter. It is advantageous that the global pharma markets continue to be robust. "We still assume that we will achieve sales growth of 6% to 7% in the financial year 2009 with an adjusted EBITDA margin of 19.0% to 19.2% in our core business," says Dr. Axel Herberg, CEO of Gerres­heimer AG.

Further growth in the core markets of pharma & life science

Sales by the core businesses increased again in the first quarter of 2009. This development highlights the strategic importance of Gerresheimer's focus on the markets of pharma & life science. In the first quarter 2009, 78% of Gerresheimer's total sales were attribut­able to this market segment. In contrast, sales for the Technical Plastics business, which is up for sale, halved in the first quarter to EUR8.6m.

In the first quarter of 2009 some customers in the pharma & life science industry reduced their i
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SOURCE Gerresheimer AG
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