Gerresheimer accelerates revenue growth

Gerresheimer AG showed strong revenue growth in the second quarter of 2021

Dietmar Siemssen, CEO of Gerresheimer AG, said, “The new company focus on sustainable growth, innovation and providing solutions for our customers is bearing fruits. We revealed our strengths in the second quarter. Pre-fillable syringes and other high-value solutions such as for biotech drugs are the main drivers. The delivery of injection vials is running as planned. We expect a strong second half of the year and confirm our guidance for 2021.”

  • Organic Group revenue growth of 7.5 percent, and 7.1 percent in core business
  • Solutions for biotech drugs and high-value solutions continue to drive revenues increase
  • Organic adjusted EBITDA margin at 22.8 percent in core business
  • Adjusted earnings per share up organically by 19.1 percent to 1.28 EUR
  • Guidance confirmed for the financial year 2021

In the second quarter of 2021, Gerresheimer AG generated organic Group revenues of 377 million EUR. Revenues increased organically by 7.5 percent, with revenues in the core business growing by 7.1 percent year on year. The Plastics & Devices Division recorded organic growth of 4.4 percent in the second quarter of 2021. The company achieved considerable growth in revenues in pharmaceutical primary packaging solutions made of plastic and in the syringes business in particular. Organic revenues in the Primary Packaging Glass Division rose by 10.3 percent year on year. Significant revenue increases were recorded for high-value solutions in particular, such as Elite Glass products.

Adjusted EBITDA in the core business stood at 85 million EUR, corresponding to an organic growth of 3.1 percent. The organic adjusted EBITDA margin in the core business amounted to 22.8 percent. Adjusted net income stood at  41 million EUR. Adjusted earnings per share stood at 1.28 EUR, which is a year-on-year increase of 19.1 percent.

Forecast

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

  • Revenue growth in the mid-single-digit percentage range
  • Adjusted EBITDA margin between 22 percent and 23 percent
  • Adjusted earnings per share to improve by around 10 percent

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

  • Revenue growth in the high single-digit percentage range
  • Adjusted EBITDA margin of around 23 percent
  • Adjusted earnings per share to improve by at least 10 percent per year

The Quarterly Statement for the second quarter of 2021 is available here.