Gerresheimer AG

Good start to the year for Gerresheimer

    Düsseldorf (ots) -

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    - Group sales in the first quarter up 1.4% on like-for-like basis

    - Profit from operations grew by 34% to EUR 12.3m

    - Reiteration of guidance for the financial year 2010

    Gerresheimer AG has got off  to  a  good start in the new financial year. In the first quarter (December  2009 to February 2010), sales increased by 1.4% on a  like-for-like  basis and amounted to EUR 224.8m. Profit from operations even increased  by 34%. "We have got off to a good start in the new financial  year  and set the stage for further growth in 2010,"  said  Dr.  Axel  Herberg, CEO of Gerresheimer AG.

    The  leading  supplier  to  the  pharma  and  healthcare     industries achieved sales of EUR 224.8m matching  the  level  of   sales  in  the strong first quarter of the  previous  year.  Adjusted for  currency translation and the divested segment Technical Plastic Systems  sales improved by 1.4%. The first  quarter  was   characterized  by  a  good business development  in  the  pharma   segment,  which  accounts  for around three quarters of total group revenues, and slow  spending  in the cyclical segments.

    The operating result (Adjusted EBITDA) of EUR 38.3m remained  on   the level of the prior  year.  However  the  operating  margin   (Adjusted EBITDA margin) increased to 17.0% (prior year: 16.1 %).

    In the period under review profit from operations increased  to   EUR 12.3m (Q1 2009: EUR 9.2m) and a positive net income of EUR 2.4m   (Q1 2009: EUR -1.1m) was achieved. This substantial  profit   improvement is amongst other things due to an  improved  financial   result.  Net financial debt declined  compared  to  previous  year's quarter  by approximately EUR 60m to EUR 402.6m.


    Gerresheimer AG remains on its path for  growth.  While  the   company expects sales growth in the Pharma segment, the sustainable   recovery of the more cyclical segments Cosmetics and Life Science Research  is not yet visible.

    The forecast for the  2010  financial  year  remains  unchanged.   The company expects a sales increase of 2 to 4 percent  and  an   improved operating margin (Adjusted EBITDA Margin) of around 19.5 percent.

    Thanks to a solid financing structure and strong operating cash   flow the  company  is  well  equipped  to  make  future    investments in sustainable growth. Capital expenditure for the financial  year   2010 will total around EUR 75m to 80m.

    About Gerresheimer

    Gerresheimer is an  internationally  leading  manufacturer  of   high- quality specialty products made of glass and plastic for  the   global pharma & healthcare industry. Our wide product spectrum   ranges  from pharmaceutical vials  to  complex  drug  delivery   systems,  such  as syringe systems, insulin pens  and  inhalers,  for safe  dosage  and application. Together with our partners we  develop solutions  which set standards and have role-model status throughout their  respective business sectors.

    Our Group of companies achieves in Europe, North  and  South   America and Asia sales of about E1 billion and employs around  9,400 people. Through top-class technologies, convincing innovations  and   targeted investments  we  are  systematically  expanding  our  strong market position.

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

|in EUR million                          |Q1 2010 |Q1 2009 |( %    |FY 2009 |
|Revenues                                    |224.8    |237.3    |-5.3  |1,000.2 |
|Group revenues excluding          |224.8    |226.4    |-0.7  |970.8    |
|Technical Plastics1                  |            |            |         |            |
|Adjusted EBITDA2                        |38.3      |38.3      |+0.0  |185.9    |
|in % of revenues                        |17.0      |16.1      |         |18.6      |
|Adjusted EBITDA2                        |38.3      |39.0      |-1.8  |186.2    |
|excluding Technical                  |            |            |         |            |
|Plastics                                    |17.0      |17.2      |         |19.2      |
|in % of revenues                        |            |            |         |            |
|Profit from operations              |12.3      |9.2        |+33.7 |60.5      |
|(EBIT)                                        |            |            |         |            |
|Net income                                 |2.4        |-1.1      |>100  |7.0        |
|Adjusted net income3                 |7.3        |6.4        |+14.1 |45.2      |
|Earnings per share in E            |0.06      |-0.05    |>100  |0.18      |
|Adjusted earnings per                |0.22      |0.18      |+22.2 |1.34      |
|share4 in E                                |            |            |         |            |
|Equity ratio in %                      |35.9      |33.1      |         |35.8      |
|Net Financial Debt                    |402.6    |460.3    |-12.5 |373.3    |
|Capital expenditure                  |15.9      |10.8      |+47.2 |86.4      |

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        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.

4        Adjusted net income after minorities divided by 31.4m shares.

Press Contact :
Investor Relations Contact
Anke Linnartz
Director Investor Relations
Phone         +49 211 6181-314
Fax            +49 211 6181-121

Burkhard Lingenberg              
Director Corporate Communication & Marketing
Phone +49 211 6181-250          
Fax    +49 211 6181-241          

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