- Revenues up 2.6% to EUR 335.4m (6.0% at constant exchange rates)
- Adjusted EBITDA rises 9.1% to EUR 65.1m (14.1% at constant exchange rates)
- Net income grows by 70.3% to EUR 20.8m
- EUR 0.61 earnings per share higher than prior-year quarter (Q2 2013: EUR 0.34)
- Guidance for financial year 2014 confirmed
Duesseldorf, July 10, 2014—Gerresheimer AG substantially increased earnings in the second quarter of financial year 2014. “High-quality packaging for drugs and products enabling safe and easy self-medication continues to be increasingly in demand worldwide. We achieved growth in revenues and most of all in earnings in the second quarter of this year. This confirms our guidance for 2014,” said Uwe Röhrhoff, Chief Executive Officer of Gerresheimer AG. Gerresheimer AG is one of the leading partners to the pharma and healthcare industry worldwide, developing and producing glass and plastic packaging for drugs and cosmetics along with complex drug delivery products, such as insulin pens, asthma inhalers and prefillable syringes.
Gerresheimer again increased revenues as planned in the second quarter of financial year 2014 (December 1, 2013 to November 30, 2014). Revenues in the second quarter of 2014 came to EUR 335.4m, up 2.6% on the prior-year quarter. At constant exchange rates, revenues grew by 6.0% compared with the prior-year quarter. The main driver of revenue growth was the pharmaceutical plastic packaging business. Similarly, the engineering and tooling business, which tends to precede series production of medical plastic systems, once again saw a large increase in revenues. Revenues with prefillable syringe systems likewise continued to grow.
In the second quarter of 2014, the Company generated adjusted EBITDA of EUR 65.1m, an increase of 9.1% on the prior-year figure. The adjusted EBITDA margin was 19.4% in the second quarter, outper-forming the 18.3% margin in the comparative period. Margin growth spanned all three divisions. Net income for the second quarter totaled EUR 20.8m, EUR 8.5m higher than net income in the same period of the prior year. The EUR 0.61 earnings per share was higher than the figure of EUR 0.34 recorded for the prior-year quarter.
As planned, Gerresheimer incurred capital expenditure of EUR 25.1m in the second quarter of 2014. Capital expenditure continued to focus on adding production capacity for medical plastic systems such as insulin pens and inhalers in Horsovsky Tyn, Czech Republic, and Peachtree City, USA.
Outlook
The Company continues to anticipate revenue growth of 4% to 6% at constant exchange rates for financial year 2014. Gerresheimer expects adjusted EBITDA, as before, to be in a range of between EUR 250m and EUR 265m at constant exchange rates. Capital expenditure in financial year 2014 will be on a par with the preceding financial year, representing some 9% to 10% of exchange rate adjusted revenues.
About Gerresheimer
Gerresheimer is a leading global partner to the pharma and healthcare industry. With specialty glass and plastic products the company contributes to health and well-being. Gerresheimer has worldwide operations and its 11,000 employees manufacture products in local markets, close to its customers. With over 40 plants in Europe, North America, South America and Asia, Gerresheimer generates revenues of approximately EUR 1.3 billion. The comprehensive product portfolio includes pharmaceutical packaging and products for the safe and simple administration of medicines: Insulin pens, inhalers, prefillable syringes, injection vials, ampoules, bottles and containers for liquid and solid medicines with closure and safety systems as well as packaging for the cosmetics industry.
The Q2 report is online available here:
gerresheimer.com/en/investor-relations/reports
The online annual report 2013 is available here:
annualreport2013.gerresheimer.com
Group Key Figures (Financial Year end November 30)
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Group Key Figures (Financial Year end November 30)
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Contact
Anke Linnartz
Director Corporate Investor Relations & Creditor Relations
Phone +49 211 6181 314
Fax +49 211 6181 121
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