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    GXI   DE000A0LD6E6

GERRESHEIMER AG

(GXI)
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Gerresheimer : with positive start to the financial year 2021

04/08/2021 | 01:03am EDT
  • Organic revenue growth of 3.1 % in core business
  • Strong development in High Value Solutions: Focus on Biological Solutions pays off
  • Adjusted EBITDA increases organically by 7.0 % in core business
  • Adjusted earnings per share rise organically by 29.3 % to EUR 0.57
  • Guidance confirmed for the financial year 2021

Duesseldorf, April 8, 2021 - 'We got off to a good start in the financial year,' said Dietmar Siemssen, CEO of Gerresheimer AG. 'Our high value products and solutions for biotech and pharma companies saw significant growth in the first quarter. The order books are full. We are well on our way to achieving our targets for 2021. The achievements which are now becoming visible, confirm the effectiveness of our growth strategy, which will continue to roll out systematically.'

In the first quarter of 2021, Gerresheimer Group generated revenues of EUR 303m. Revenues in core business increased organically by 3.1% year on year. The Plastics & Devices Division grew organically by 3.0% in the first quarter of 2021, thanks in particular to the syringes business and the demand for pharmaceutical plastic packaging. Currency-adjusted sales were up 3.2% year on year in the Primary Packaging Glass Division, even though the cosmetics business in the Moulded Glass Business Unit continued to feel the negative effects of the Covid-19 pandemic. The pharma business benefited in the first quarter from growing demand for high value solutions and products such as Gx RTF syringe systems, Gx Elite Glass and Gx RTF Vials, particularly for biopharmaceuticals.

The Company continued to expand its production capacities for manufacturing injection vials for Covid-19 vaccines in the first quarter of 2021. By doing so, the Company is reaffirming its responsibility and making an important contribution to combating the pandemic by supplying glass vials to be filled with vaccines.

Adjusted EBITDA stood at EUR 54m in the first quarter of 2021. In the core business, adjusted EBITDA rose organically by 7.0% year on year to EUR 57m. The adjusted EBITDA margin in the core business amounted to 19.0%. The adjusted net income was EUR 18m, resulting in adjusted earnings per share of EUR 0.57 with an increase of organically 29.3% (32.6 % as reported) compared to the same quarter in the prior year.

Forecast

Outlook for the financial year 2021 (core business, currency-adjusted):

  • Revenues growth in the mid single-digit percentage range
  • Adjusted EBITDA margin between 22% and 23%
  • Adjusted earnings per share in euros to increase by at least 10%

Medium term (core business, net of currency effects):

  • Revenues growth in the high single-digit percentage range
  • Adjusted EBITDA margin of around 23%
  • Adjusted earnings per share in euros to increase by at least 10% per year

The Quarterly Statement for the first quarter of 2021 is available here: https://www.gerresheimer.com/en/company/investor-relations/reports

About Gerresheimer

Gerresheimer is the global partner for pharma, biotech, healthcare and cosmetics with a very broad product range for pharmaceutical and cosmetic packaging and drug delivery devices. The company is an innovative solution provider from concept to delivery of the end product. Gerresheimer achieves its ambitious goals through a high level of innovative strength, industrial competence, focus on quality and customers. In developing innovative and sustainable solutions, Gerresheimer relies on a comprehensive international network with numerous innovation and production centers in Europe, America and Asia. Gerresheimer produces close to its customers worldwide with around 10,000 employees and generates annual sales of more than €1.4 billion. With its products and solutions, Gerresheimer plays an essential role in people's health and well-being.

IFRS Figures for the Gerresheimer Group

Disclaimer

Gerresheimer AG published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 05:03:01 UTC.


© Publicnow 2021
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Financials
Sales 2021 1 475 M 1 786 M 1 786 M
Net income 2021 113 M 136 M 136 M
Net Debt 2021 933 M 1 130 M 1 130 M
P/E ratio 2021 25,5x
Yield 2021 1,41%
Capitalization 2 867 M 3 468 M 3 471 M
EV / Sales 2021 2,58x
EV / Sales 2022 2,41x
Nbr of Employees 9 904
Free-Float 100%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 102,14 €
Last Close Price 91,30 €
Spread / Highest target 26,0%
Spread / Average Target 11,9%
Spread / Lowest Target -17,9%
EPS Revisions
Managers and Directors
NameTitle
Dietmar Siemssen Chief Executive Officer
Bernd Metzner Chief Financial Officer
Axel Herberg Chairman-Supervisory Board
Theodor Stuth Member-Supervisory Board
Udo Johannes Vetter Member-Supervisory Board
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