– First-quarter revenues grew organically by 21.0%
– Adjusted EBITDA up organically by 24.8%
– Gerresheimer confirms guidance for financial year 2023
DÜSSELDORF, Germany, April 6, 2023 /PRNewswire/ — Gerresheimer AG, a leading provider of healthcare & beauty solutions and drug delivery systems for pharma, biotech and cosmetics, has started the 2023 financial year with a strong first quarter. The company recorded double-digit percentage growth in revenues and Adjusted EBITDA in the first quarter and confirms its guidance for 2023. “The good first quarter confirms how far we have driven Gerresheimer’s transformation over the past four years. Our strategy is taking full effect, we are growing in all divisions and becoming sustainably more profitable quarter after quarter. Our broad product portfolio and our quality and innovation leadership enable us to address new trends such as GLP-1 obesity and diabetes treatment, and to support our customers with specific solutions such as autoinjectors and bypass syringes. This offers us excellent growth opportunities,” said Dietmar Siemssen, CEO of Gerresheimer AG. “Our order books are very well filled and we expect continued double-digit growth in revenues and Adjusted EBITDA with a further year-on-year improvement in margins. We are on track for another record year,” he added.
The transformation process that we initiated with the start of our formula g strategy process in 2019 has already significantly changed our company. The first quarter illustrates the successes of the transformation. Gerresheimer is now a sustainably profitable growth company that operates as an innovation leader and solutions provider. With a strong customer orientation and focus on highest quality, the company has continuously improved its competitiveness and demonstrated its resilience. The investments of recent years are paying off, as evidenced by the significantly higher growth rates and double-digit margin increases in the first quarter.
The Gerresheimer Group generated revenues of EUR 457.8m in the first quarter 2022, compared to EUR 370.8m in the same quarter in the prior year. On an organic basis – meaning without exchange rate effects – revenues increased by 21.0%. All divisions achieved double-digit growth. Adjusted EBITDA climbed by 26.7% to EUR 78.0m, corresponding to an increase of 24.8% on organic basis. Adjusted EPS amounted to EUR 0.71, an increase of 12.7% compared to the same quarter in the prior year. In organic terms Adjusted EPS was up by 13.4%.
Revenues in the Plastics & Devices Division in the first quarter of the 2023 financial year came to EUR 228.7m, up from EUR 186.0m in the same quarter in the prior year. In organic terms revenues increased by 20.0%. Demand for plastic packaging, inhalers, and pens contributed in particular to the excellent development in revenues compared to the prior-year quarter. Adjusted EBITDA was a substantial 17.4% higher year on year, or up by 14.5% on an organic basis.
The Primary Packaging Glass Division increased its revenues significantly in the first quarter of the financial year by 23.5% to EUR 227.5m. Adjusted for exchange rate effects, revenues were up by 21.6% year on year. Pharma business was boosted by the strong performance in both the Moulded Glass and Tubular Glass Business Units. Adjusted EBITDA climbed considerably year on year, by 34.3% in nominal terms and 34.5% organically. This increase was due to the solid overall performance of the business unit.
The Advanced Technologies Division pushes forward with projects and investments in its future growth. This included ongoing projects for the development of a new pump for a US biotech customer as well as a micro pump for chronic heart failure treatment.
Guidance for FY 2023 (for group level, FXN):
– Organic revenue growth: at least 10%
– Organic adjusted EBITDA growth: at least 10%
– Adjusted EPS growth: low single-digit percentage
Mid-term Guidance (for group level, FXN):
– Organic revenue growth: at least 10%
– Organic adjusted EBITDA: margin of 23-25%
– Adjusted EPS growth: at least 10%
The Quarterly Statement is available here:
https://www.gerresheimer.com/en/company/investor-relations/reports
Contact:
Ueli Utzinger
Group Senior Director Marketing & Communication
T +41 79 400 8640
ueli.utzinger@gerresheimer.com
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