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Gerresheimer Reports Strong Revenues and Earnings Growth in the Second Quarter
Date:7/13/2011

DUESSELDORF, Germany, July 13, 2011 /PRNewswire/ --


 

  • Group revenues grow by 7.6 percent at constant exchange rates in the second quarter of 2011
  • Adjusted EBITDA margin is 19.8 percent
  • Net income increases to EUR 13.3m
  • Successful conclusion of refinancing

Gerresheimer AG, one of the leading global suppliers to the pharma and healthcare industry, has closed successfully the second quarter of the 2011 financial year. "We have achieved strong growth in revenues and net income. Our Moulded Glass and Plastic Systems Divisions have performed particularly well. We have also strengthened our operations in South America, a strategically important market for us, through our acquisition of Vedat," said Uwe Röhrhoff, CEO of Gerresheimer AG.

Gerresheimer was able to achieve marked growth in revenues in the second quarter of the 2011 financial year (March 1, 2011 to May 31, 2011) of 5.9 percent to EUR 284.5m. At constant exchange rates, revenue growth was 7.6 percent. The Moulded Glass and Plastics Systems Divisions played an important role in generating this strong growth. Growth drivers of the Plastic Systems division included inhalers, insulin pens, diagnostic systems and plastic packaging products. Vedat, the company that Gerresheimer acquired in March, has an excellent position in the South American primary pharmaceutical plastic packaging market and has contributed to the positive development. Gerresheimer recently announced plans to extend its Czech Republic plant, being part of the fast-growing Plastic Systems division.

Gerresheimer reports adjusted EBITDA of EUR 56.3m (prior year: EUR 56.3m) for the second quarter of 2011. The adjusted EBITDA margin was 19.8 percent (Q2 2010: 20.9 percent). Scheduled overhauls of furnaces and capacity restrictio
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SOURCE Gerresheimer AG
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