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EQS-News: Gerresheimer AG
/ Key word(s): Quarterly / Interim Statement
Gerresheimer makes solid start to the financial year 2024
Düsseldorf, April 11, 2024 Gerresheimer, an innovative systems and solutions provider and a global partner for the pharma, biotech and cosmetic industries, continued its profitable growth trajectory in the first quarter of 2024 with organic revenue growth of 2.8% and an organic increase in adjusted EBITDA of 5.9%. This positive development was fueled primarily by the performance of the Plastics & Devices Division. Revenues came to EUR 466.1m (Q1 2023: EUR 457.8m), with adjusted EBITDA standing at EUR 80.9m (Q1 2023: EUR 78.0m). The adjusted EBITDA margin improved organically by 50 basis points to 17.3% year on year (Q1 2023: 16.8%). The margin expansion reflects a favorable product mix with a higher share of innovative and customized solutions. Global capacity expansion, including for syringes, pens and auto-injectors, is progressing according to plan. The Management Board has confirmed its guidance for the financial years 2024 and 2025, as well as the mid-term outlook. In 2024, Gerresheimer expects to generate organic revenue growth of between 5 and 10%, as well as adjusted EBITDA of between EUR 430m and 450m. Plastics & Devices: Syringes, pens and inhalers in demand The Plastics & Devices Division generated revenues of EUR 258.4m in the first quarter of 2024 (Q1 2023: EUR 228.7m). Organic revenue growth compared to the same quarter in the prior year was 13.7% and was driven primarily by demand for drug delivery systems such as syringes, pens and inhalers. Adjusted EBITDA reached EUR 59.3m (Q1 2023: EUR 46.9m), with year-on-year organic growth standing at a robust 27.3%. The adjusted EBITDA margin rose to 22.9% (Q1 2023: 20.5%). In organic terms, the margin increased by 240 basis points. The margin expansion reflects a favorable product mix with a greater share of higher-value products. In the first quarter of 2024, revenues in the Primary Packaging Glass Division reached EUR 208.4m (Q1 2023: EUR 227.5m), a decline of 7.2% year on year in organic terms. The decrease in revenues here is mainly due to the drop in demand in pharma business as a result of customer inventory effects. Adjusted EBITDA amounted to EUR 34.8m (Q1 2023: EUR 40.7m), equating to a year-on-year fall of 11.4% in organic terms. The adjusted EBITDA margin came to 16.7%, down from 17.9% in the prior year. In organic terms, the margin declined by 80 basis points compared to the prior-year quarter. Continuation of profitable growth With its high order backlog Gerresheimer expects to continue its profitable growth both in 2024 and in subsequent years.
Guidance for FY 2025 (organic) Mid-term guidance (organic)
Contact Gerresheimer AG
11.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Gerresheimer AG |
| Klaus-Bungert-Str. 4 | |
| 40468 Duesseldorf | |
| Germany | |
| Phone: | +49-(0)211/61 81-314 |
| Fax: | +49-(0)211/61 81-121 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A0LD6E6 |
| WKN: | A0LD6E |
| Indices: | MDAX (Aktie) |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1877669 |
| End of News | EQS News Service |
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1877669 11.04.2024 CET/CEST
