Gerresheimer Achieves Record Earnings for the Financial Year 2010
By Gerresheimer Ag, PRNEWednesday, February 9, 2011
Group Revenues Rise by 5.6% on a Like-for-like Basis in the Financial Year 2010 to EUR 1024.8m
DÜSSELDORF, Germany, February 10, 2011 - www.presseportal.de/pm/9072/gerresheimer_ag
Gerresheimer AG, one of the leading worldwide suppliers to the
pharma and healthcare industry, finished the financial year 2010 with record
results. "The financial year 2010 was very successful for us. Our know-how
and products are very much in demand from international pharma customers. Our
shareholders should participate in this success. We therefore propose to the
Annual General Meeting a dividend of EUR 0.50 per share," says Uwe Röhrhoff,
CEO of Gerresheimer AG.
Gerresheimer achieved a marked increase in revenues in the
financial year 2010 (December 1, 2009 to November 30, 2010). Excluding the
Technical Plastic Systems business, which was sold in 2009, revenues grew by
5.6% to EUR 1024.8m. At constant exchange rates, revenues grew by 4.0%. The
main growth contributors in the pharma business were insulin pens, inhalers,
vials, ampoules and prefillable syringes. Demand for cosmetics packaging
revived markedly in 2010. The market for life science research products also
recovered.
Gerresheimer increased its Adjusted EBITDA to EUR 204.5m in
2010. This was 10.0% up on the prior year. The Adjusted EBITDA margin was
further improved on a like-for-like basis by 0.8 percentage points on the
prior year to 20.0%. Net income reached a record level at EUR 46.7m (prior
year EUR 7.0m). Adjusted earnings per share also improved significantly from
EUR 1.34 to EUR 1.95.
The marked improvement in operating results also had a
positive effect on cash flow. A total of EUR 62.3m was applied to further
debt repayments. Net financial debt at the end of the year was therefore at
the historically low level of EUR 311.0m.
"In 2010 we achieved our targets and even exceeded some of
them. In the coming years we will further expand our position as a full
service provider in the important growth markets such as diabetes and
generics for example. In doing so the emerging countries play an increasing
role. We want to grow our revenues substantially in these markets, and to
double them by 2013 to EUR 200m," Röhrhoff says.
Outlook
For the financial year 2011 Gerresheimer assumes further
revenue growth of 3% to 4% at constant exchange rates. This is equivalent to
nominal revenue growth of 4% to 5%. With regard to the EBITDA margin the
company assumes a level of around 20%. In 2011 the company expects to invest
around EUR 80m. The Management Board proposes to the General Meeting a
dividend payment of EUR 0.50 per share for the financial year 2010.
The Annual Report and for the first time also the Online
Annual Report can be found under: annualreport2010.gerresheimer.com
Gerresheimer AG Benrather Strasse 18 - 20 40213 Düsseldorf Germany Jens Kürten Director Corporate Communication & Marketing Telephone +49-211-6181-250 Telefax +49-211-6181-241 E-Mail j.kuerten@gerresheimer.com Internet www.gerresheimer.com
Gerresheimer AG, Benrather Strasse 18 - 20, 40213 Düsseldorf, Germany, Jens Kürten, Director Corporate Communication & Marketing, Telephone +49-211-6181-250, Telefax +49-211-6181-241, E-Mail j.kuerten at gerresheimer.com
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