Gerresheimer Reports Strong Revenues and Earnings Growth in the Second Quarter

By Gerresheimer Ag, PRNE
Tuesday, July 12, 2011

DUESSELDORF, Germany, July 13, 2011 -


  • 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 particu
larly well.
We have also strengthened our operations in South America, a
strategically important market for us, through our acquisition of
said Uwe Röhrhoff, CEO of Gerresheimer

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.


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 href="">

Gerresheimer AG
Jens Kürten
Director Corporate Communication & Marketing
Telephone +49-211-6181-250
Fax +49-211-6181-241
E-Mail  href="">

Internet  href="">


will not be displayed