Gerresheimer with positive start to the financial year 2021

- Organic revenue growth of 3.1 % in core business

- Strong development in High Value Solutions: Focus on Biological Solutions pays off

- Adjusted EBITDA increases organically by 7.0 % in core business

- Adjusted earnings per share rise organically by 29.3 % to EUR 0.57

- Guidance confirmed for the financial year 2021

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Apr 08, 2021, 02:49 ET

DUESSELDORF, Germany, April 8, 2021 /PRNewswire/ -- "We got off to a good start in the financial year," said Dietmar Siemssen, CEO of Gerresheimer AG. "Our high value products and solutions for biotech and pharma companies saw significant growth in the first quarter. The order books are full. We are well on our way to achieving our targets for 2021. The achievements which are now becoming visible, confirm the effectiveness of our growth strategy, which will continue to roll out systematically."

In the first quarter of 2021, Gerresheimer Group generated revenues of EUR 303m. Revenues in core business increased organically by 3.1% year on year. The Plastics & Devices Division grew organically by 3.0% in the first quarter of 2021, thanks in particular to the syringes business and the demand for pharmaceutical plastic packaging. Currency-adjusted sales were up 3.2% year on year in the Primary Packaging Glass Division, even though the cosmetics business in the Moulded Glass Business Unit continued to feel the negative effects of the Covid-19 pandemic. The pharma business benefited in the first quarter from growing demand for high value solutions and products such as Gx RTF syringe systems, Gx Elite Glass and Gx RTF Vials, particularly for biopharmaceuticals.

The Company continued to expand its production capacities for manufacturing injection vials for Covid-19 vaccines in the first quarter of 2021. By doing so, the Company is reaffirming its responsibility and making an important contribution to combating the pandemic by supplying glass vials to be filled with vaccines.

Adjusted EBITDA stood at EUR 54m in the first quarter of 2021. In the core business, adjusted EBITDA rose organically by 7.0% year on year to EUR 57m. The adjusted EBITDA margin in the core business amounted to 19.0%. The adjusted net income was EUR 18m, resulting in adjusted earnings per share of EUR 0.57 with an increase of organically 29.3% (32.6 % as reported) compared to the same quarter in the prior year.

Forecast

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