Gerresheimer AG : Q3 review – slowdown in momentum, sequential improvement to come
>Organic growth held back by a high comparable base - The company reported Q3 revenues of € 487.9m (+2.4% y-o-y), 1% below our forecast and the consensus. Organic growth was 5.5% compared to our estimate of 6.4% and the consensus’ 5.6%. Forex headwinds amounted to 230bps. Primary packaging glass grew organically by just 2.6% in the quarter as Covid-related revenues in Q3 2022 created a high comparable base. We acknowledge that the Covid tailwind was not properly flagg...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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