(Update: Share price, analyst comment in paragraph 3, and stock performance in paragraph 4)
DÜSSELDORF (dpa-AFX) - Packaging specialist Gerresheimer, currently grappling with accounting errors, is likely to be removed from the SDax small-cap index due to the postponement of its 2025 annual report. Following consultations with its auditor, the audited annual and consolidated financial statements are expected to be published only after March 31, the company announced on Tuesday evening. Gerresheimer had already canceled the original publication date, which was scheduled for late February, several weeks ago. The latest news was met with a very negative reaction on the stock market.
The share price plummeted by up to 18 percent in early Wednesday trading before subsequently paring some of those losses. Most recently, the stock was down by just over four percent.
The preparation of the 2025 annual and consolidated financial statements has been delayed, the company added. Investigations into business transactions for 2024 and 2025 by a second external auditing firm, as well as the preparation of documents required for the audit, are taking longer than expected. The company is now aiming for a publication in June. With this delay, Gerresheimer will violate Deutsche Börse's index rules and would therefore have to leave the SDax small-cap index.
The Annual General Meeting, originally scheduled for June 3, must also be postponed. Furthermore, the figures for the first fiscal quarter must be moved to a date later than the previously planned April 16.
Analyst Harald Hof from MWB Research views the current news as another piece in a growing crisis of confidence. Additionally, there are potential issues with lenders. According to its own statements, Gerresheimer is in talks to agree on an extension of the reporting deadlines for the annual financial statements as stipulated in its financing agreements.
Audits of the consolidated financial statements due to accounting errors have been known since September. In mid-February, Gerresheimer shares crashed again when the 2025 annual report was first postponed. At the end of February, news from the financial regulator BaFin pushed the shares to their lowest level since 2009. The Federal Financial Supervisory Authority (BaFin) expanded an ongoing audit and initiated a further investigation.
According to findings to date, individual employees had violated internal guidelines and accounting regulations, it was stated in this context. The resulting corrections in the consolidated financial statements primarily concern the recognition of revenue as well as the accounting and valuation of inventories./mis/mne/mis
