Gerresheimer Reaches 2009 Sales Target

Group sales in the past financial year reached E1 billion. The pharma business, which now accounts for around three quarters of Group sales, again ensured a slight growth in sales in 2009. In contrast, the cyclical fields of cosmetics and Life Science Research suffered a fall in sales. On a like-for-like basis, ie excluding the Technical Plastics Systems business which was sold as per July 1, 2009, sales were 1.5% down on the prior year.

The company said that the operating margin (adjusted EBITDA margin), which at 19.2% exceeded the forecast of around 18.5% on a like-for-like basis, was achieved through early realignment of production capacity and cost reductions. Overall, however, there was a year-on-year fall in the operating result (adjusted EBITDA) at E185.9m. In contrast, net income rose substantially from E4.5m to E7m because of reduced one-off expenses. As a result, earnings per share increased from E0.02 to E0.18.

Gerresheimer further improved its finance structure over the past financial year. The equity ratio is at the comfortable level of 35.8% (prior year 31.6%). Net financial debt was reduced by E48.3m to E373.3m. Investment at the same time reached E86.4m.

Dr Axel Herberg, CEO of Gerresheimer, said: “Overall we have demonstrated our stability and profitability in a difficult environment. We have successfully managed to create the conditions for future growth through targeted investments in our product portfolio and new plants throughout the world.”