Gerresheimer AG : Q2 review – better on bottom line and guidance confirmed
>Top line impacted by destocking in Primary Packaging Glass - The company reported Q2 2024 revenues of € 502.4m (+0.6% y-o-y, 1%/-1% vs ODDO BHF/consensus). Organic growth was 0.7% compared to our estimate of 0.8%. Forex headwinds amounted to 10bp.Primary Packaging Glass declined organically by 6.9% (revenues € 218.1m, in line with expectations) in the quarter on the back of destocking. On the other hand, cosmetics were up again.Plastics & devices was up by ...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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