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 not expected to be published until after March 31, the company announced on Tuesday evening. Several weeks ago, Gerresheimer had already canceled the original publication date scheduled for late February. The stock market reacted poorly to the news. Shares plummeted by up to 18 percent in early Wednesday trading before slightly paring losses. Most recently, the stock was still down nearly ten 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 is in violation of Deutsche Börse index rules and is therefore expected 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. Management therefore intends to speak with lenders to agree on an extension of the deadlines for submitting annual financial statements as stipulated in financing agreements.

Background: In February, Gerresheimer announced that, based on internal tips and in coordination with its auditor, it had commissioned further investigations by a second auditing firm regarding revenue recognition and accounting in the 2024 and 2025 fiscal years. Additionally, the Federal Financial Supervisory Authority (BaFin) announced it would expand an ongoing audit and initiate a further investigation.

According to findings to date, individual employees had violated internal guidelines and accounting regulations, the company stated in this context. The resulting corrections in the consolidated financial statements primarily affect revenue recognition as well as the accounting and valuation of inventories./mis/mne/stk