Gerresheimer AG : Incorporating higher impact from destocking
>Q4 preview – Strong P&D, but destocking at PPG - Q4 revenues of € 539m (+3.2% y-o-y) should be supported by organic growth of 4.7%, but impacted by forex headwind of 150bp. We forecast 9.4% organic growth for Plastic & Devices (revenues of € 302m) and an adj. segmental EBITDA of € 89m (+9.4% y-o-y, margin 29.4%). Destocking impacts Primary Packaging Glass for which we expect only a flat organic development (revenues of € 235m). Adj. segmental EBITDA should reach only...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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