|By PR Newswire||
|April 10, 2014 01:39 AM EDT||
DUESSELDORF, Germany, April 10, 2014 /PRNewswire/ --
- Revenues up 0.3% to EUR 297.5m (+3.2% at constant exchange rates)
- Adjusted EBITDA rises 3.3% to EUR 47.6m (EUR 49.1m at constant exchange rates)
- Net income grows by 0.8% to EUR 10.3m
- Adjusted earnings per share up 5.6% to EUR 0.38
- Guidance for financial year 2014 confirmed
The full press release including tables is available at: http://www.presseportal.de/pm/9072/gerresheimer-ag?keygroup=dokument
Gerresheimer AG, one of the leading partners to the pharma and healthcare industry worldwide, began financial year 2014 with a solid start."I am satisfied with our performance in the first quarter of 2014.Our expectation is unchanged that we will meet our targets for 2014.We will continue to invest in promising projects in Europe, the Americas and emerging markets to lay the basis for further profitable growth," said Uwe Röhrhoff, CEO of Gerresheimer AG.
Gerresheimer generated revenues of EUR 297.5m in the first quarter of financial year 2014 (December 1, 2013 to November 30, 2014), marking 0.3% revenue growth on the prior-year quarter. At constant exchange rates, revenues came to EUR 304.2m, representing growth of 3.2%. As expected, the Primary Packaging Glass and Life Science Research (laboratory glassware) divisions experienced a decline in demand during the first month of the first quarter due to destocking by a number of North American pharmaceutical customers. Demand for cosmetic glass was likewise slow at the beginning of the first quarter. There were already clear signs of improvement by the end of the quarter. Revenues went up substantially on customer-specific drug-delivery devices such as insulin pens, inhalers, prefillable syringe systems and pharmaceutical plastic packaging.
The Company generated adjusted EBITDA of EUR 47.6m in the first quarter of 2014, an increase of 3.3% on the prior-year figure. The adjusted EBITDA margin was 16% in the first quarter, half a percentage point up on the 15.5% prior-year figure. The margin showed a slight improvement across all three divisions. Net income went up by 0.8% to EUR 10.3m. Adjusted earnings per share, at EUR 0.38, exceeded the EUR 0.36 recorded in the prior-year quarter.
As planned, Gerresheimer incurred capital expenditure of EUR 21.7m in the first quarter. Capital expenditure focused on adding production capacity for medical plastic systems such as insulin pens and inhalers in Horsovsky Tyn, Czech Republic, and Peachtree City, USA.
As before, the Company anticipates revenue growth of 4% to 6% at constant exchange rates for financial year 2014. Gerresheimer continues to expect adjusted EBITDA to be in a range of between EUR 250m and EUR 265m at constant exchange rates. Capital expenditure in financial year 2014 will be on a par with the preceding financial year, representing some 9% to 10% of exchange rate adjusted revenues.
The Q1 report is online available here: http://gerresheimer.com/en/investor-relations/reports
The online annual report 2013 is available here: http://annualreport2013.gerresheimer.com
Jens Kürten, Director Corporate Communication & Marketing, Tel: +49-211-6181-250, Fax: +49-211-6181-241, E-Mail [email protected]
SOURCE Gerresheimer AG
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
May. 5, 2015 09:00 AM EDT Reads: 824
While Docker continues to be the darling of startups, enterprises and IT innovators around the world, networking continues to be a real mess. Indeed, managing the interaction between Docker containers and networks has always been fraught with complications. Without automation in networking, the vision of running Docker at scale and letting IT run the same apps unchanged on the laptop and in the data center or for any cloud cannot be realized.
May. 5, 2015 09:00 AM EDT Reads: 790
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
May. 5, 2015 09:00 AM EDT Reads: 4,017
May. 5, 2015 08:50 AM EDT Reads: 102
May. 5, 2015 08:45 AM EDT Reads: 1,372
May. 5, 2015 08:45 AM EDT Reads: 704
May. 5, 2015 08:30 AM EDT Reads: 4,610
May. 5, 2015 08:00 AM EDT Reads: 739
May. 5, 2015 08:00 AM EDT Reads: 3,544
May. 5, 2015 08:00 AM EDT Reads: 3,636
May. 5, 2015 08:00 AM EDT Reads: 1,789
May. 5, 2015 08:00 AM EDT Reads: 662
May. 5, 2015 07:45 AM EDT Reads: 2,940
May. 5, 2015 07:30 AM EDT Reads: 3,573
May. 5, 2015 07:15 AM EDT Reads: 1,237