We continued on our successful course in the new financial year. We expect particularly strong growth over the coming years in the emerging countries. Our latest acquisition of the Brazilian company Vedat strengthens our position in the emerging markets and expands our product portfolio,“ says Uwe Röhrhoff, CEO of Gerresheimer AG.
In the first quarter of the financial year 2011 (December 1, 2010 to February 28, 2011) Gerresheimer substantially increased its revenues, with a 5.2 percent rise to EUR 236.6m. At constant exchange rates the growth rate was 2.9 percent. The main growth drivers were products like pharma bottles, injection vials, ampoules, insulin pens and inhalers. There was also a further rise in demand for cosmetics products. In the first quarter of 2011 Gerresheimer increased its adjusted EBITDA to EUR 41.8m, 9 percent up on the prior year. The adjusted EBITDA margin improved by 0.7 percentage points on the prior year to 17.7 percent. Net income almost tripled to EUR 7.1m in the first quarter. Earnings per share also improved substantially from EUR 0.06 to EUR 0.20. Net financial debt was reduced by EUR 84.4m in comparison with the prior year to EUR 318.2m. In addition, Gerresheimer introduced early refinancing.
“The worldwide demand for medicines will continue to rise in the coming years. Demographic change, increasing incidence of acute and chronic diseases, growth of self-medication and the need for healthcare in the emerging countries will contribute to this. These megatrends provide the basis for our future growth. With our products and services we can contribute to improving health and well-being,” says Röhrhoff.
Outlook For the financial year 2011 Gerresheimer’s guidance is that revenue growth as reported including Vedat will be 7 to 8 percent This is equiva- lent to revenue growth of 6 to 7 percent at constant exchange rates. The company assumes unchanged that the adjusted EBITDA margin will reach around 20%. In 2011 the company expects to invest around EUR 80m.
Gerresheimer is an internationally leading manufacturer of high-quality specialty products made of glass and plastic for the global pharma and healthcare industry. Our comprehensive portfolio of products extends from pharmaceutical vials to complex drug delivery systems such as syringe systems, insulin pens and inhalers for safe medication dosage and application. Together with our partners, we develop solutions which set standards and have role model status in their respective market sectors.
Our Group realizes revenues of around one billion Euros and has 10,000 employees at 45 locations in Europe, North and South America and Asia. We use first-rate technologies, convincing innovations and targeted investments to systematically consolidate our strong market position.