Gerresheimer Gets off to Good Start in New Financial Year

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Gerresheimer AG

Apr 07, 2011, 02:10 ET

DUESSELDORF, Germany, April 7, 2011 /PRNewswire-FirstCall/ --

- Group Revenues in the First Quarter of 2011 Rise by 5.2 Percent to EUR 236.6m

- Adjusted EBITDA Margin Reaches 17.7 Percent Compared With 17.0 Percent in the Prior-year Period

- Tripling of net Income to EUR 7.1m and Earnings per Share to EUR 0.20

- Acquisition in Brazil Accelerates Successful Expansion in the Emerging Countries

Gerresheimer AG, one of the leading global suppliers to the pharma and healthcare industry, got off to a good start in the new financial year. "We continued on our successful course in the new financial year. We expect particularly strong growth over the coming years in the emerging countries. Our latest acquisition of the Brazilian company Vedat strengthens our position in the emerging markets and expands our product portfolio," says Uwe Rohrhoff, CEO of Gerresheimer AG.

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

In the first quarter of the financial year 2011 (December 1, 2010 to February 28, 2011) Gerresheimer substantially increased its revenues, with a 5.2 percent rise to EUR 236.6m. At constant exchange rates the growth rate was 2.9 percent. The main growth drivers were products like pharma bottles, injection vials, ampoules, insulin pens and inhalers. There was also a further rise in demand for cosmetics products.

In the first quarter of 2011 Gerresheimer increased its adjusted EBITDA to EUR 41.8m, 9 percent up on the prior year. The adjusted EBITDA margin improved by 0.7 percentage points on the prior year to 17.7 percent. Net income almost tripled to EUR 7.1m in the first quarter. Earnings per share also improved substantially from EUR 0.06 to EUR 0.20. Net financial debt was reduced by EUR 84.4m in comparison with the prior year to EUR 318.2m. In addition, Gerresheimer introduced early refinancing.

"The worldwide demand for medicines will continue to rise in the coming years. Demographic change, increasing incidence of acute and chronic diseases, growth of self-medication and the need for healthcare in the emerging countries will contribute to this. These megatrends provide the basis for our future growth. With our products and services we can contribute to improving health and well-being," says Rohrhoff.

Outlook

For the financial year 2011 Gerresheimer's guidance is that revenue growth as reported including Vedat will be 7 to 8 percent This is equiva­lent to revenue growth of 6 to 7 percent at constant exchange rates. The company assumes unchanged that the adjusted EBITDA margin will reach around 20%. In 2011 the company expects to invest around EUR 80m.

    Gerresheimer AG

    Benrather Strasse 18 - 20
    40213 Duesseldorf
    Germany
    Jens Kuerten
    Director Corporate Communication & Marketing
    Telephone +49-211-6181-250
    Fax +49-211-6181-241
    E-mail [email protected]

    Internet http://www.gerresheimer.com

SOURCE Gerresheimer AG