Growth Trend for Gerresheimer Continues Unabated - Debt...( DUSSELDORF Germany October 17 /- ...),Health
DUSSELDORF, Germany, October 17 /PRNewswire/ --
- For the Nine Months (to 31 August) a 46% Sales Increase to EUR697m
- For Nine Months Almost Six-Fold Growth in EBIT to EUR34.8m (EUR6.2m)
- Marked Improvement in Adjusted EBITDA by 50% to EUR124m
- Substantial Debt Reduction and Fall in Interest Charges Since the IPO
- CEO Dr. Axel Herberg: "The Gratifying Q3 Result Confirms Our Full-Year Forecast for 2007."
In the first nine months of its financial year (to 31 August), Gerresheimer AG has continued its dynamic earnings and sales trend unabated. Total sales including the consolidated Gerresheimer Wilden Group increased by 46.3% to EUR697.4m (9M 2006: EUR476.7m). Adjusted EBITDA actually improved by 50.1% to EUR124.4 (EUR82.9m), with a margin improvement by 0.4 percentage points to 17.8% (17.4%). In the result from ordinary activities (EBIT) there was almost a six-fold increase in the comparable period to EUR34.8m (EUR6.2m). Cash net income(1) increased due to one-off expenses (EUR21.0m before tax) for the IPO by EUR16.6m to EUR0.8 (EUR-15.8m).
"The gratifying operating development has completely fulfilled our expectations," says Dr. Axel Herberg, CEO of Gerresheimer AG. "Looking at our target for the year to achieve organic growth of 8% to 9% and an EBITDA margin of close to 19%, we are right on track. We will continue to work to expand our position as a globally active pharma and life-science company."
In the third quarter (June to August) total sales grew strongly by
60.2% to EUR250.1m (third quarter of 2006: EUR156.1m). The substantial
sales growth was largely attributable to the acquisition of the Wilden
Group and the positive turnover trend in the pharma and cosmetics segments.
In the comparable period, Adjusted EBITDA improved by 55.3% to EUR44.1m
(EUR28.4m). The development in the result from ordinary activities (EBIT),
which improved to EUR11.0m (EUR-1.2m), was also gratifying. The
consolidated result inc
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| SOURCE Gerresheimer AG Copyright©2007 PR Newswire. All rights reserved |
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