Gerresheimer accelerates revenue growth

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Jul 13, 2021, 01:41 ET

Organic Group revenue growth of 7.5 %, and 7.1 % in core business
Solutions for biotech drugs and high-value solutions continue to drive revenues increase
Organic adjusted EBITDA margin at 22.8 % in core business
Adjusted earnings per share up organically by 19.1 % to EUR 1.28
Guidance confirmed for the financial year 2021

DUSSELDORF, Germany, July 13, 2021 /PRNewswire/ -- Gerresheimer AG showed strong revenue growth in the second quarter of 2021. "The new company focus on sustainable growth, innovation and providing solutions for our customers is bearing fruits. We revealed our strengths in the second quarter. Prefillable syringes and other high-value solutions such as for biotech drugs are the main drivers. The delivery of injection vials is running as planned. We expect a strong second half of the year and confirm our guidance for 2021," says Dietmar Siemssen, CEO of Gerresheimer AG.

In the second quarter of 2021, Gerresheimer AG generated organic Group revenues of EUR 377m. Revenues increased organically by 7.5 %, with revenues in the core business growing by 7.1 % year on year. The Plastics & Devices Division recorded organic growth of 4.4 % in the second quarter of 2021. The company achieved considerable growth in revenues in pharmaceutical primary packaging solutions made of plastic and in the syringes business in particular. Organic revenues in the Primary Packaging Glass Division rose by 10.3 % year on year. Significant revenue increases were recorded for high-value solutions in particular, such as Elite Glass products.

Adjusted EBITDA in the core business stood at EUR 85 million, corresponding to an organic growth of 3.1 %. The organic adjusted EBITDA margin in the core business amounted to 22.8 %. Adjusted net income stood at EUR 41 million. Adjusted earnings per share stood at EUR 1.28, which is a year-on-year increase of 19.1 %.

Forecast

Outlook for the financial year 2021 (core business, currency adjusted):