We’ve got off to a very good start and are able to report excellent growth in revenues. Global demand for pharmaceutical packaging and products for the safe and reliable administration of medications is very high,“ said Uwe Röhrhoff, Chief Executive Officer of Gerresheimer AG.
Gerresheimer has experienced particularly strong growth in revenues in the first quarter of the 2012 financial year (December 1, 2011, to November 30, 2012). Its revenues increased by 13.6 percent to EUR 268.8m. Currency effects had no impact on revenues. Core business operations, comprising pharmaceutical primary packaging products and medical devices made of glass and plastic, made an important contribution to this growth. However, the cosmetics and laboratory glass businesses also had a positive start to the year.
Gerresheimer’s adjusted EBITDA was EUR 44.3m in the first quarter of 2012, which is 6.2 percent higher than the prior year figure. The adjusted EBITDA margin was 16.5 percent in Q1 2012, which is down from 17.7 percent in the prior year’s first quarter. Net income of EUR 6.8m is slightly below the prior year’s EUR 7.1m. Earnings per share were EUR 0.16 (prior year: EUR 0.20). Adjusted earnings per share have increased by EUR 0.02 to EUR 0.32 compared with the same prior year quarter.
“We are continuously expanding our operations in the emerging markets. Our most recent acquisition of the Indian company Neutral Glass is an important milestone in our efforts to build our presence in the fast-growing Indian market,“ explained Uwe Röhrhoff.
On April 2, 2012, Gerresheimer has signed a contract on acquiring a majority shareholding in the Indian company Neutral Glass. The closing is expected in the short term. Neutral Glass is a leading manufacturer of glass pharmaceutical primary packaging products. In the 2010/11 financial year, Neutral Glass generated annual revenues of approximately EUR 15m and it has some 600 employees. After opening a Sales & Service Office in Mumbai in 2010, the acquisition of a company with local production was a strategically important move for Gerresheimer.
Gerresheimer has uplifted its revenue growth forecast for the 2012 financial year to reflect the sharp increase in revenues at the beginning of the year and the acquisition of the Indian company. It is now expecting 7 to 8 percent revenue growth at constant exchange rates during 2012. At the beginning of the year, the revenue growth forecast was 5 to 6 percent. The adjusted EBITDA margin forecast remains the same at about 19.5 percent. An investment volume of around EUR 100m is still budgeted for the 2012 financial year.
Further information on Neutral Glass can be found here.
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 more than 10,000 employees at 47 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.
You can read the online annual report at: http://annualreport2011.gerresheimer.com
Group Key Figures (IFRS; Financial Year end November 30)
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