Prospects for 2008 Confirmed
Shareholders Approve Dividend Payment of EUR 0.40 per Share
DUSSELDORF, Germany, May 23 /PRNewswire-FirstCall/ -- The company ended the financial year 2007 with a positive result. In 2007 Gerresheimer achieved sales of EUR957.7m and operating earnings (adjusted EBITDA) of EUR181.6m. For the first quarter of the current financial year 2008, the company reports a sales increase of 18.2% to EUR 239.1m, with a 20.4% increase in operating earnings (adjusted EBITDA) to EUR 43.0m.
"In the past year we have expanded our regional presence with consistent focus on the high-profit business in specialty products for the pharmaceutics and life-science industry. We intend to continue this successful strategy in 2008," says Dr. Axel Herberg, CEO of Gerresheimer AG.
At the Shareholders' Meeting in Dusseldorf today, Dr. Herberg confirmed the positive prospects for 2008. In the coming year the company aims to achieve sales growth of 14%-16% and an Adjusted EBITDA margin in excess of 19%.
By a large majority the shareholders of Gerresheimer AG approved the actions of the Management Board and Supervisory Board for the financial year 2007 and a dividend payment of EUR0.40 per share. In the first year after its stock-exchange flotation Gerresheimer is therefore already distributing a sum of EUR12.6m to its shareholders.
By a large majority the shareholders also authorised the Management Board of Gerresheimer AG to issue warrant-linked bonds and convertible bonds up to the value of EUR500m in conjunction with the creation of contingent capital. They thereby supported the continued expansion course of the Dusseldorf supplier to the pharma and life-science industry.
A large number of shareholders and shareholder representatives attended the first Shareholders' Meeting of Gerresheimer AG after the IPO in June 2007, so 59% of the capital stock was represented at the Shareholders' Meeting.
Gerresheimer facts and figures
Gerresheimer employs more than 10,800 people in 41 production locations
in Europe, America and Asia. In the financial year 2007, worldwide sales
totalled EUR 957.7m. The product portfolio ranges from pharmaceutical vials
made of glass and plastic to complex drug delivery systems for the pharma
and life-science industry. It includes sterile syringes, inhalers and other
system-based approaches for safe dosage and application of medicines. The
Group has a leading position in markets which are characterised by high
technical and regulatory barriers.
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|SOURCE Gerresheimer AG|
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