Navigation Links
Gerresheimer Reports Strong Earnings and Sales Growth
Date:10/6/2010

Gerresheimer Reports Strong Earnings and Sales Growth -- DUSSELDORF, Germany, October 6, 2010 /PRNewswire-FirstCall/ --


Advanced Search Search

  
Close
  1. Send a release
  2. Member sign in
  3. Become a member
  4. For journalists
  5. Global sites
PR Newswire: news distribution, targeting and monitoring
  1. Products & Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
Health Care & Hospitals, Medical Equipment, Medical Pharmaceuticals, Earnings Click to view news release full screen  

Gerresheimer Reports Strong Earnings and Sales Growth

 

DUSSELDORF, Germany, October 6, 2010 /PRNewswire-FirstCall/ --

- Group Revenues in the Third Quarter Up By 9.5% to EUR 259.4m (Excluding Technical Plastic Systems)

- Marked Rise in Operating Margin (Adjusted EBITDA margin) From 17.3% to 20.5%

- Adjusted Earnings Per Share More Than Doubled From EUR 0.20 to EUR 0.52

- Net Financial Debt Reduced By EUR 74.1m

Gerresheimer AG, one of the leading worldwide suppliers to the pharma and healthcare industry, is continuing its growth course in the financial year 2010. "Our business is developing well. We continue to focus on the field of pharma and healthcare. Doing so we are achieving solid and profitable growth," says Uwe Rohrhoff, CEO of Gerresheimer AG.

In the third quarter of 2010, Gerresheimer further strengthened its revenues. In the period from June to August 2010 the company increased its revenues (excluding the Technical Plastic Systems business which has been sold) by 9.5% to EUR 259.4m (prior year EUR 236.9m). At constant exchange rates, revenues grew by 5.8% in the third quarter. In the first three quarters, Gerresheimer achieved revenue growth of 4.4% at constant exchange rates to EUR 753.0m (prior year excluding Technical Plastic Systems: EUR 714.9m). The main growth generators in the pharma business were insulin pens, asthma inhalers and prefillable syringes. Additionally, a resurgence of demand for cosmetics packaging and economic recovery in the laboratory glassware segment had a positive impact on the business trend.

Gerresheimer also achieved a further rise in earnings. For the third quarter of the financial year the company reports operating earnings (Adjusted EBITDA) of EUR 53.3m, 28.1% up on the prior-year period (third quarter 2009 excluding Technical Plastic Systems: EUR 41.6m). In the third quarter of 2010 the operating margin (Adjusted EBITDA margin) improved by 3.2 percentage points in comparison with the prior year to 20.5% (first three quarters 2010: 19.6%). Adjusted earnings per share improved substantially from EUR 0.20 to EUR 0.52. As a result of the positive business trend, Gerresheimer was able to reduce net financial debt by EUR 74.1m to EUR 356.6m (prior year: EUR 430.7m)

"The combination of organically generated growth and targeted acquisitions forms the foundation for the further successful development of our company. We concentrate on profitable markets and continuously expand our position as a market leader globally. Our presence in the emerging markets is therefore more important than ever," says Rohrhoff.

Outlook

For the current financial year 2010, Gerresheimer continues to expect revenue growth of 3% to 4% at constant exchange rates, excluding Technical Plastic Systems. This is equivalent to nominal sales growth of 5% to 6%. The company also stands by its forecast EBITDA margin of 19.5% to 20%. In 2010 the company expects to invest a total of EUR 75-80m.

About Gerresheimer

Gerresheimer is an internationally leading manufacturer of high-quality specialty products made of glass and plastic for the global pharma & healthcare industry. Our wide product spectrum ranges from pharmaceutical vials to complex drug delivery systems, such as syringe systems, insulin pens and inhalers, for safe dosage and application. Together with our partners we develop solutions which set standards and have role-model status throughout their respective business sectors.

Our Group of companies achieves in Europe, North and South America and Asia sales of about EUR 1 billion and employs around 9,500 people. Through top-class technologies, convincing innovations and targeted investments we are systematically expanding our strong market position.

The full version of the interim report can be found under: http://www.gerresheimer.com/en/investor-relations/reports.html Group Key Figures (IFRS; Financial Year end November 30) in EUR million Q3 2010 Q3 2009 change in % FY 2009 Revenues 259.4 242.6 +6.9 1,000.2 Group revenues excluding 259.4 236.9 +9.5 970.8 Technical Plastics(1) +5.8(5) Adjusted EBITDA(2) 53.3 42.0 +26.9 185.9 in % of revenues 20.5 17.3 18.6 Adjusted EBITDA(2) excluding 53.3 41.6 +28.1 186.2 Technical Plastics(1) in % of revenues 20.5 17.6 19.2 Profit from operations (EBIT) 26.3 12.9 >100 60.5 Net income 14.1 -4.0 >100 7.0 Adjusted net income(3) 18.4 7.9 >100 45.2 Earnings per share in EUR 0.41 -0.11 >100 0.18 Adjusted earnings per share(4) in 0.52 0.20 >100 1.34 EUR Equity ratio in % 37.7 34.7 35.8 Net Financial Debt 356.6 430.7 -17.2 373.3 Capital expenditure 13.5 19.1 -29.3 86.4

1 The Technical Plastic Systems segment was sold with effect from July 1, 2009.

2 Adjusted EBITDA: Earnings before income taxes, financial result, amortization of fair value adjustments, extraordinary depreciation, depreciation and amortization, restructuring expenses and one-off income and expenses.

3 Adjusted net income: Consolidated profit before non-cash amortization of fair value adjustments, special effects from restructuring expenses, extraordinary depreciation, the balance of one-off income and expenses (including significant non-cash expenses) and the related tax effects.

4 Adjusted net income after minorities divided by 31.4m shares. 5 Revenue growth rate at constant exchange rates. Group Key Figures (IFRS; Financial Year end November 30) in EUR million Q1-Q3 Q1-Q3 change in % FY 2009 2010 2009 Revenues 753.0 744.3 +1.2 1,000.2 Group revenues excluding 753.0 714.9 +5.3 970.8 Technical Plastics(1) +4.4(5) Adjusted EBITDA(2) 147.9 127.8 +15.7 185.9 in % of revenues 19.6 17.2 18.6 Adjusted EBITDA(2) excluding 147.9 128.1 +15.5 186.2 Technical Plastics(1) in % of revenues 19.6 17.9 19.2 Profit from operations (EBIT) 63.4 33.9 +87.0 60.5 Net income 27.7 -4.2 >100 7.0 Adjusted net income(3) 43.6 28.6 +52.4 45.2 Earnings per share in EUR 0.85 -0.15 >100 0.18 Adjusted earnings per share(4) in 1.33 0.83 +60.2 1.34 EUR Equity ratio in % 37.7 34.7 35.8 Net Financial Debt 356.6 430.7 -17.2 373.3 Capital expenditure 43.0 50.3 -14.5 86.4

1 The Technical Plastic Systems segment was sold with effect from July 1, 2009.

2 Adjusted EBITDA: Earnings before income taxes, financial result, amortization of fair value adjustments, extraordinary depreciation, depreciation and amortization, restructuring expenses and one-off income and expenses.

3 Adjusted net income: Consolidated profit before non-cash amortization of fair value adjustments, special effects from restructuring expenses, extraordinary depreciation, the balance of one-off income and expenses (including significant non-cash expenses) and the related tax effects.

4 Adjusted net income after minorities divided by 31.4m shares. 5 Revenue growth rate at constant exchange rates. Media contact Investor Relations contact Jens Kurten Anke Linnartz Director Corporate Communication Director Investor Relations & Marketing Telephone +49-211-6181-314 Telephone +49-211-6181-250 Telefax +49-211-6181-121 Telefax +49-211-6181-241 E-Mail a.linnartz@gerresheimer.com E-Mail j.kuerten@gerresheimer.com
'/>"/>

SOURCE Gerresheimer AG
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Substantial Revenues and Earnings Plus for Gerresheimer
2. Moodys Raised Outlook for Gerresheimer
3. Gerresheimer Achieves Sales Target for 2009
4. Gerresheimer has Passed the Turning Point
5. Shengtai Pharmaceutical Reports Financial Results for Full Year Fiscal 2010
6. Escalon® Reports Fiscal 2010 Results
7. Misonix Reports Fourth Quarter and Fiscal Year 2010 Financial Results
8. Emerging Cancer Vaccines Market: Forecasts, Developments and Pipeline Analysis, 4th Edition Now Available at ReportsandReports
9. Enobia Reports Positive Results For Phase II Trial of ENB-0040 in Juvenile Hypophosphatasia
10. Corgenix Reports Fiscal 2010 Financial Results
11. Biodel Reports Research Progress in Poster Session on Short-Acting Insulins at 46th EASD Annual Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016  Collagen Matrix, Inc., ("Collagen Matrix") the ... of collagen and mineral based medical devices for ... Bill Messer has joined the company as ... the growing portfolio of oral surgery, neurosurgery, orthopaedic ... joins the Collagen Matrix executive team as an ...
(Date:6/24/2016)... Mass. , June 24, 2016   ... Spaulding Rehabilitation Network,s Dean Center for Tick ... Physical Medicine and Rehabilitation, MIT Hacking Medicine, University ... for Innovation, today announced the five finalists of ... for Lyme disease.  More than 100 scientists, clinicians, ...
(Date:6/24/2016)... -- Research and Markets has announced ... Applications, Technologies, Forecasts" report to their offering. ... Smart Skin, Structural Health Monitoring, Composite Smart Structures, ... involves electronic and/or electrical components and circuits that ... such as vehicle bodies or conformally placed upon ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June ... , brings up a new, often overlooked aspect of head lice: the parasite’s ability to ... is not a common occurrence, but a necessary one in the event that lice have ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health ... of their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards ... at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to ...
(Date:6/24/2016)... ... ... a crisis. Her son James, eight, was out of control. Prone to extreme mood shifts ... upset him, he couldn’t control his emotions,” remembers Marcy. “If there was a knife ... and say he was going to kill them. If we were driving on the ...
(Date:6/24/2016)... ... ... BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a ... an hour by 2020 and then adjusting it yearly to increase at the same rate ... assure the wage floor does not erode again, and make future increases more predictable. , ...
(Date:6/24/2016)... ... 24, 2016 , ... Strategic Capital Partners, LLC (SCP) in ... investment capital for emerging technology companies. SCP has delivered investment events and ... more than a million dollars of capital investment for five companies. ...
Breaking Medicine News(10 mins):