Navigation Links
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 restrictions on prefillable syringe system production were due in the second quarter. Net income increased year on year, despite one-off expenses in connection with refinancing, by EUR 2.1m to EUR 13.3m. Adjusted earnings per share increased over the previous year's quarter from EUR 0.59 to EUR 0.69.

Net financial debt has declined by EUR 4.1m to EUR 404.6m since the prior year, despite the costs incurred in connection with the Vedat acquisition, dividend payment and refinancing. In May, Gerresheimer concluded the refinancing process, which it had started ahead of schedule, with five and seven-year maturities.

"As a full-service partner for glass and plastics products and systems for the global pharma and healthcare industry we have a unique positioning. There is worldwide growth in demand for intelligent drug delivery and primary packaging solutions. Our competence enables us to make a decisive contribution to health and well-being," said Röhrhoff.

Outlook

Gerresheimer is expecting growth in revenues at constant exchange rates of six to seven percent, including the Vedat business, and an adjusted EBITDA margin of approximately 20 percent in the current 2011 financial year. The investment volume is expected to be around EUR 80m.

Cross-reference: Press release including Group Key Figures is available at http://www.presseportal.de/pm/9072/gerresheimer_ag

Gerresheimer AG
Jens Kürten
Director Corporate Communication & Marketing
Telephone +49-211-6181-250
Fax +49-211-6181-241
E-Mail j.kuerten@gerresheimer.com

Internet http://www.gerresheimer.com



'/>"/>
SOURCE Gerresheimer AG
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Gerresheimer Reports Strong Earnings and Sales Growth
2. Substantial Revenues and Earnings Plus for Gerresheimer
3. Moodys Raised Outlook for Gerresheimer
4. Gerresheimer Achieves Sales Target for 2009
5. Gerresheimer has Passed the Turning Point
6. LCA-Vision Reports 2011 Second Quarter Procedure Volume
7. ChemoCentryx Reports Novel CCR2 Antagonist Significantly Improves Kidney Function and Hyperglycemia in Models of Type 2 Diabetes
8. ReportsnReports - Multitargeted Therapies: Promiscuous Drugs and Combination Therapies
9. BioDrain Medical, Inc. Reports Results of Annual Meeting
10. Cell Therapeutics, Inc. Reports Outcome of Special Meeting of Shareholders
11. Enzymatics Reports Latest Growth Figures; Confirms Massachusetts Emerging Role as Leading Bio-manufacturing Center
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016   Pulmatrix, Inc ., (NASDAQ: ... drugs, announced today that it was added to the ... its comprehensive set of U.S. and global equity indexes ... important milestone for Pulmatrix," said Chief Executive Officer ... our progress in developing drugs for crucial unmet medical ...
(Date:6/23/2016)... -- Research and Markets has announced the addition ... 2022" report to their offering. ... with kidney failure, it replaces the function of kidneys by ... and thus the treatment helps to keep the patient body,s ... Increasing number of ESRD patients & substantial healthcare ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief ... a minimum wage raise to $12 an hour by 2020 and then adjusting it yearly ... lost value of the minimum wage, assure the wage floor does not erode again, and ...
(Date:6/24/2016)... Georgia (PRWEB) , ... June 24, 2016 , ... ... awards today at the Clinical Decision Making in Emergency Medicine conference in Ponte ... have authored journal articles published in Emergency Medicine Practice and Pediatric ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Investment Group (TGIG), has initiated cultivation and processing operations at its production facility, ... Pahrump, Nevada. , Puradigm is the manufacturer of a complete system of proactive ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm Slone Partners ... extensive sequencing and genomics experience, as Vice President of North American Capital Sales at ... responsible for leading the sales team in the commercialization of the HTG EdgeSeq system ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... human induced pluripotent stem (iPS) cells and other difficult to transfect cells, announces ... Medium. The PluriQ™ G9™ Gene Editing System is a complete system ...
Breaking Medicine News(10 mins):