Gerresheimer Achieves Sales Target for 2009

By Gerresheimer Ag, PRNE
Monday, February 8, 2010

Profit Margin Better Than Expected

DUSSELDORF, Germany, February 9 -

    - Sales on like-for-like basis almost at prior year level (-1.5 percent)
    - Adjusted EBITDA margin of 19.2 percent (on like-for-like basis) better
      than expected
    - CEO Dr. Axel Herberg: "We have demonstrated our stability and
      profitability in a difficult environment."
    - Outlook for 2010: sales increase of 2 to 4 percent and Adjusted EBITDA
      margin of mid 19 percent

In the economically challenging environment of the past year,
Gerresheimer AG has achieved its sales target and turned in a better
operating margin than expected.

Group sales in the past financial year (to the end of
November) reached EUR1 billion. The pharma business, which now accounts for
around three quarters of Group sales, again ensured a slight growth in sales
in 2009. In contrast, the cyclical fields of cosmetics and Life Science
Research suffered a fall in sales. On a like-for-like basis, i.e. excluding
the Technical Plastics Systems business which was sold as per July 1, 2009,
sales were 1.5 percent down on the prior year (forecast -1.5 to -2.5
percent).

The good operating margin (Adjusted EBITDA Margin), which at
19.2 percent exceeded the forecast of around 18.5 percent on a like-for-like
basis, was achieved through early realignment of production capacity and
cost reductions. Overall, however, there was a year-on-year fall in the
operating result (Adjusted EBITDA) at EUR185.9m (2008: EUR206.4m). In
contrast, net income rose substantially from EUR4.5m to EUR7.0m because of
reduced one-off expenses. As a result, earnings per share increased from
EUR0.02 to EUR0.18.

Gerresheimer further improved its finance structure over the
past financial year. The equity ratio is at the comfortable level of 35.8
percent (prior year 31.6 percent). Net financial debt was reduced by EUR48.3m
to EUR373.3m
. Investment at the same time reached the high level of EUR86.4m.

Because of the decline in operating results and in order to
strengthen the financial base for future growth opportunities, the
Management Board and Supervisory Board recommends the Annual General Meeting
that no dividend for the financial year 2009 is paid. Basically, however,
Gerresheimer does intend to distribute attractive dividends again in the
future, depending on the success of business.

"Overall we have demonstrated our stability and profitability
in a difficult environment. We have successfully managed to create the
conditions for future growth through targeted investments in our product
portfolio and new plants throughout the world," says CEO Dr. Axel Herberg.

Broader product portfolio and internationalization

Gerresheimer constantly widens its product portfolio and
expands into all the important strategic regions. In the financial year 2009
for example a third production line was completed for prefillable syringes,
production capacity was built up for two insulin pen systems and investments
were made in new products in the field of diabetes diagnostics. Within the
parameters of the continued international orientation, three new locations
were established in three continents. In China a state-of-the-art plant was
constructed for pharmaceutical tubular glass. A new research and development
center for medical plastic systems was opened in the USA and a new production
center for pharmaceutical plastic packaging in Spain. In Brazil, a new
production facility for insulin pen systems is planned for early 2010.

Outlook for 2010

The negative effects of the global financial and economic
crisis should gradually abate and a revival in demand is now likely.

While Gerresheimer again expects growth for the pharma market,
the outlook for cosmetics and Life Science Research is more difficult.
Against this background the Management Board expects for the current
financial year a sales increase of 2 to 4 percent (in relation to adjusted
sales excluding Technical Plastic Systems of EUR970.8m) and an improved
operating margin (Adjusted EBITDA Margin) of around 19.5 percent. Investment
will total around EUR75m to 80m.

About Gerresheimer

Gerresheimer employs around 9,400 people in 40 locations in
Europe, Americas and Asia. In the financial year 2009, worldwide sales
totaled EUR1 billion. The product portfolio ranges from pharmaceutical
vials made of glass and plastic through to complex drug-delivery systems for
the pharma & healthcare industry. These include sterile syringes, inhalers
and other system-based approaches for safe dosage and application of
medications. The Group enjoys a leading position in markets which are
characterized by high technical and regulatory barriers.

    Group Key Figures (IFRS; Financial Year end November 30)

    in EUR million                     FY 2009  FY 2008        %
    Sales                              1,000.2  1,060.1     -5.7
      Group sales excluding
      Technical Plastics[1]              970.8    985.9     -1.5

    Adjusted EBITDA[2]                   185.9    206.4     -9.9
      in % of sales                       18.6     19.5

    Adjusted EBITDA[2] excluding         186.2     n/a[3]
      Technical Plastics
      in % of sales                       19.2     n/a[3]

    Profit from operations (EBIT)         60.4     61.0     -1.0
    Net income                             7.0      4.5    +55.6
    Adjusted net income[4]                45.2     61.4    -26.4
    Earnings per share in EUR             0.18     0.02    >+100
    Adjusted earnings per share[5] in
      in EUR                              1.34     1.83    -26.8
    Equity ratio in %                     35.8     31.6
    Net financial debt                   373.3    421.6    -11.5
    Capital expenditure                   86.4    107.8    -19.9
    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 The adjusted EBITDA of the Technical Plastic Systems segment of the
      prior year is not available due to the fact that the divestment was
      carried out in the course of the financial year 2008 and is therefore
      included in the Plastic Systems segment

    4 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

    5 Adjusted net income after minorities divided by 31.4m shares
    Contact Press
    Burkhard Lingenberg
    Director Corporate Communication & Marketing Director
    Phone +49-211-6181-250
    Fax +49-211-6181-241
    e-mail b.lingenberg@gerresheimer.com 

    Contact Investor Relations
    Anke Linnartz
    Corporate Investor Relations
    Phone +49-211-6181-314
    Fax +49-211-6181-121
    e-mail a.linnartz@gerresheimer.com

Contact Press: Burkhard Lingenberg, Director Corporate Communication & Marketing Director, Phone +49-211-6181-250, Fax +49-211-6181-241, e-mail b.lingenberg at gerresheimer.com ; Contact Investor Relations, Anke Linnartz, Corporate Investor Relations, Phone +49-211-6181-314, Fax +49-211-6181-121, e-mail a.linnartz at gerresheimer.com

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