Gerresheimer AG : FY review – Finish as expected, positive prospects post destocking
>Top line impacted by destocking - The company reported Q4 revenues of € 545.2m (+4.5% y-o-y), 1%/-1% vs ODDO BHF/consensus. Organic growth was 5.1% compared to our estimate of 4.7% and the consensus’ 4.9%. Forex headwinds amounted to 60bp. Primary packaging glass grew organically by just 0.5% in the quarter on the back of destocking. Plastics & devices was up by 9.5% in the quarter still impacted by pass-through effects through lower resin prices. Advanced tech...Gerresheimer is a holding company. Through its subsidiaries, Co. manufactures glass and plastic products for the pharma and healthcare industry. Co.'s operates in three divisions: Plastics & Devices, which its product portfolio includes products for the administration of medicines, such as insulin pens, inhalers, and prefillable syringes; Primary Packaging Glass, which produces glass primary packaging for medicines and cosmetics, such as pharma jars, ampoules, injection vials, cartridges, perfume flacons, and cream jars; and Life Science Research, which produces laboratory glassware for research, development, and analytics, such as beakers, Erlenmeyer flasks, and measuring cylinders.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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