Gerresheimer Presents Strong Results for Financial Year 2013

News provided by

Feb 13, 2014, 02:29 ET

DUSSELDORF, Germany, February 13, 2014 /PRNewswire/ --

Revenues up 3.8%, at constant exchange rates up 5.8%, to EUR 1,265.9m
Adjusted EBITDA gains 4.1% on prior year, totaling EUR 249.8m, EUR 254.0m at constant exchange rates
Adjusted earnings per share rise by 17.6% to EUR 3.08
Capital market guidance met in full
Proposed dividend: EUR 0.70 per share (prior year: EUR 0.65 per share)
Targeted investment the key to success

Cross reference:

The full press release including tables is available at:

http://www.presseportal.de/pm/9072/gerresheimer-ag?keygroup=dokument

Gerresheimer AG, one of the leading partners to the pharma and healthcare industry worldwide, brought financial year 2013 to a successful close. "2013 was a rewarding year for us.We met all the targets we set ourselves. At the beginning of financial year 2014, we sharpened our organization's customer focus. We are investing in highly promising growth projects, further improvements in quality and the internationalization of our business. These are important steps in setting the course for our future," said Uwe Röhrhoff, Chief Executive Officer of Gerresheimer AG.

Gerresheimer increased revenues in financial year 2013 (December 1, 2012 to November 30, 2013) by 3.8% to EUR 1,265.9m. At constant exchange rates, this corresponds to growth of 5.8%. Business with the pharma industry once more showed strong growth and broad cyclical resilience. Revenue gains were likewise generated with cosmetics packaging. Sales volumes were solely down in the area of laboratory glassware due to weak market demand in North America. Gerresheimer generates some 83% of revenues with products for the pharma and healthcare industry.

The Company increased adjusted EBITDA by 4.1% in financial year 2013 to EUR 249.8m. At constant exchange rates and including EUR 7.5m in other operating income, this corresponds to EBITDA of EUR 254.0m. The adjusted EBITDA margin came to 19.7%, as in the prior year. Net income went up by 0.3% to EUR 68.5m. Adjusted net income climbed 17.2% to EUR 103.5m. Earnings per share stayed at EUR 1.98. Adjusted earnings per share amounted to EUR 3.08, an increase of 17.6%.

Gerresheimer's capital expenditure in financial year 2013 was EUR 119.1m (2012: EUR 118.9m). The Company is notably further expanding production capacity for drug delivery systems such as prefillable glass syringes, insulin pens and asthma inhalers. A second focus is on growth in emerging markets. In December 2012, Gerresheimer took over Triveni in India, a leading maker of plastic pharmaceutical packaging products. The third focus of capital expenditure is on further improving product and production process quality.

Outlook

The Company currently anticipates revenue growth of 4% to 6% at constant exchange rates for financial year 2014. Adjusted EBITDA at constant exchange rates is expected to be between EUR 250m and EUR 265m. Capital expenditure in financial year 2014 will be on a par with the past financial year, meaning around 9% to 10% of revenues.

"Our ongoing high level of investment in capacity expansion, new products, continuous quality improvement and production locations in emerging markets is the key to our success. 2014 is going to be a highly promising and interesting year for us in which we are aiming at further organic growth. Customer demand for our reliable, high-quality pharmaceutical packaging products and drug delivery systems continues to grow. We will once again make selective additions in 2014 in the USA, India, China and Europe, and we have already launched projects to that end," said Uwe Röhrhoff.

At the Annual General Meeting on April 30, 2014, the Management Board and Supervisory Board of Gerresheimer AG will be proposing that a dividend of EUR 0.70 per share be paid out for financial year 2013 (prior year: EUR 0.65 per share). This represents a payout ratio of almost 23% of adjusted net income after non-controlling interests.

You find the annual report 2013 here:

http://www.gerresheimer.com/en/investor-relations/reports

Gerresheimer AG
Benrather Strasse 18 - 20
40213 Düsseldorf
Germany

Jens Kürten
Director Corporate Communication & Marketing
Telephone +49-211-6181-250
Fax +49-211-6181-241
E-Mail [email protected]
Internet http://www.gerresheimer.com

SOURCE Gerresheimer AG