Gerresheimer AG : Q4 adj. EBITDA margin weaker, new mid-term guidance positive
>Q4 below on adj. EBITDA, but quality of results good - The company reported Q4 revenues of € 436.1m and an adj. EBITDA of € 95.4m. This is c. 1% below our forecast on sales (in-line with the Vara consensus; organic revenue growth for the core of 9.3% y-o-y vs 10.4% y-o-y our forecast), but c. 5% below our forecast and consensus on adj. EBITDA. However, when looking at the divisions, we note that the key reason for the miss was a lower corporate/others result (-€ 10m ...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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