Gerresheimer AG : Management confident on 2021, comments on 2022 encouraging
>A convincing Q3 reflecting the headwind from input costs - Sales growth of +9.8% y-o-y for the core (+10.4% y-o-y our forecast; c. +9% y-o-y consensus) was strong in our view (inflationary effects added c. 2.5-3%). We note that adjusted EBITDA for the core came in at € 78.7m (excl. Advanced Technologies), bang in line with the consensus (we were at € 79.3m). This would equate to a core margin of 20.7% or a pro-forma margin of 22% adjusted for higher energy costs (est...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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