Gerresheimer AG, one of the leading worldwide suppliers to the pharma and healthcare industry, reports strong growth in the third quarter of the 2011 financial year. “With a strong burst of growth in the third quarter we gained ground and further developed our strong market position. Our medical plastics systems business did extremely well. As a result, we have raised our revenue guidance for the current year to 7 to 8 percent growth at constant exchange rates,” said Uwe Röhrhoff, CEO of Gerresheimer AG.
Gerresheimer reports revenue growth of 9.9 percent to EUR 285.1m for the third quarter of the 2011 financial year (June 1, 2011 to August 31, 2011). At constant exchange rates, the growth rate compared to last year is 13.4 percent. In the Plastic Systems Division, the segments of insulin pen systems, inhalers and diagnostics experienced particularly dynamic growth. Védat, the South American company that Gerresheimer acquired in March 2011, also contributed to this positive revenue development. Gerresheimer reports adjusted EBITDA of EUR 57.1m (prior year: EUR 53.3m) in the third quarter of 2011.
Gerresheimer has raised its revenue guidance for 2011 from 6 to 7 percent to 7 to 8 percent growth at constant exchange rates. Guidance for the adjusted EBITDA margin remains unchanged at approximately 20.0 percent. Due to the strong project pipeline in the Plastic Systems Division and the associated prospect of lining up new business the capital expenditure in the financial year 2011 has been raised from EUR 80m to around EUR 85m.
Gerresheimer is an internationally leading manufacturer of high-quality specialty products made of glass and plastic for the global pharma and healthcare industry. The Group realizes revenues of around one billion Euros and has around 10,000 employees at 45 locations in Europe, North and South America and Asia.
Source: Gerresheimer AG