Gerresheimer is adjusting its guidance for the 2025 financial year in light of the preliminary results for the third quarter of 2025 and slower-than-expected market growth.
According to preliminary figures, revenues in the third quarter of 2025 declined organically by -1.2 percent compared to the same period last year, with an organic adjusted EBITDA margin of 18.8 percent. According to preliminary results, Gerresheimer generated positive free cash flow of EUR 21 million in the third quarter of 2025. Revenue growth and the adjusted EBITDA margin for the first nine months of the 2025 financial year are lower than expected overall.
Although the company expects the fourth quarter to be stronger than the third quarter due to production ramp-ups for drug delivery systems, revenues for the full year 2025 are now expected to decline organically between -4 and -2 percent (previously organic revenue growth 0 to 2 percent), and the adjusted EBITDA margin is expected to be around 18.5 to 19 percent (previously around 20 percent).
In the first nine months of the 2025 financial year, preliminary figures show that revenues rose by 14.6 percent to EUR 1,681.4 million (9M 2024: EUR 1,467.0 million), while adjusted EBITDA rose by 7.2 percent to EUR 313.9 million (9M 2024: EUR 292.7 million). Organic development compared with the pro forma figures for the same period last year continued to show significant market influences, including subdued demand in the cosmetics market and in the area of containment solutions for oral liquids. According to preliminary results, organic revenues declined by 1.8 percent in the first nine months, while adjusted EBITDA fell by 7.5 percent. The organic adjusted EBITDA margin was 18.8 percent (EUR 9 million 2024: 19.9 percent).
In view of slower market growth and business development in 2025, Gerresheimer has initiated a transformation program to reduce costs and improve performance.
“The operative performance of our business in the first nine months is clearly below our expectations,” said Dietmar Siemssen, CEO of Gerresheimer AG. “Our goal is to grow faster than the overall market again in the medium and long term. The expansion of our product portfolio to include systems and solutions for biologics and the implementation of our growth projects will contribute considerably to this.”