Following a Record Year in 2008 Gerresheimer Again Sets its Sights on Substantial Growth in 2009



    
    -  Sales Grow by 10.7% to EUR1.06bn

    -  Adjusted Earnings per Share Improves by 36.6% From EUR1.34 Euro to
       EUR1.83

    -  Adjusted EBITDA Margin Rises From 19.0 to 19.5%

    -  CEO Dr. Axel Herberg: "Following the record year in 2008 Gerresheimer
       again considers itself well equipped to meet the global challenges in
       2009 and is aiming for further substantial sales growth of 6% to 7% in
       the core business."
    

    DUSSELDORF, Germany, Feb. 17 /CNW/ - In 2008 Gerresheimer AG had another
record year marked by important milestones, and achieved all its published
objectives. The international Group with its main base in Dusseldorf, Germany,
increased its sales by 10.7% (12.8% on a like-for-like exchange-rate basis)
and thereby passed the billion euro mark. Operating results (Adjusted EBITDA)
rose by 13.7% to EUR206.4m (prior year: EUR181.6m). The Adjusted EBITDA margin
reached 19.5% in 2008 (prior year: 19%). There was a substantial improvement
of 36.6% in adjusted earnings per share in the past financial year to EUR1.83
(prior year EUR1.34).
    "Our strategy of internationalization and focus is bearing fruit," says
Dr. Axel Herberg, CEO of Gerresheimer AG. "Even in a phase of worldwide
economic downturn, pharmaceutics and life science are still growth markets
and, with its broad technology base and worldwide presence, Gerresheimer has a
strong position here." The shareholders of Gerresheimer AG should participate
in the success of Gerresheimer AG as in the prior year. The Management Board
and Supervisory Board of Gerresheimer AG will therefore propose to the
Shareholders' Meeting that a dividend of EUR0.40 per share is paid.
    In December 2008, Gerresheimer AG was included in the second-largest
German selection index MDax. This means increased visibility for our company
on capital markets, and greater appeal for our shares.
    Further substantial growth for pharma & life science
    All the divisions of Gerresheimer AG participated in the substantial
sales growth achieved in the past financial year. The business in the pharma &
life science markets proved to be particularly stable and high-growth, and
today already represents 75% (prior year: 72%) of Gerresheimer's total sales.
The continuing high level of demand for RTF(C) syringe systems, which grew by
36% in 2008, made a decisive contribution to this. Another growth contributor
was the business in plastic systems, which today accounts for around 32% of
the total sales of Gerresheimer AG. In this Division there was particularly
strong demand for inhalers for asthma treatment and products for diabetes
diagnosis and treatment.

    Extensive investment in growth markets

    In order to secure future growth in its core pharmaceutical markets
Gerresheimer AG invested extensively during the financial year 2008 in
capacity expansion programs and new projects such as, for example, the
construction of a third facility for RTF(R) syringe production and the
build-up of production of insulin pen systems. Investments in capital assets
(including intangible assets) during the past financial year totaled EUR107.8m
(prior year: EUR98.9m).

    Continued focus on internationalization and a wider product range

    An important success factor for Gerresheimer AG has been - and continues
to be - the consistently implemented strategy of internationalization and
focus. In 2008 Gerresheimer again expanded its global presence and thereby
also widened its product range. The Brazilian manufacturer of pharmaceutical
plastic packaging Allplas (now Gerresheimer Plasticos Sao Paulo Ltda.) and the
Spanish company EDP (now Gerresheimer Zaragoza S.A.) which were taken over at
the beginning of 2008 were successfully integrated in the Gerresheimer Group
during the year. Both companies rank among the market leaders in their region
and have already made a positive contribution in 2008 to the development of
our Plastic Systems Division.
    In the course of concentration on the pharma & life science markets,
further steps were taken in the financial year 2008. In June 2008 Gerresheimer
discontinued its Consumer Healthcare business.

    Outlook for 2009

    Gerresheimer will continue its successful international course in the
financial year 2009 and, despite the generally challenging economic situation,
is confident that it can achieve its growth targets: "After the record year in
2008, Gerresheimer AG is well positioned for the global challenges in 2009,
and is aiming for further substantial growth," says the CEO Dr. Axel Herberg.
For 2009, sales growth of 6% to 7% is expected in the core business, with an
adjusted-EBITDA margin of 19.0% to 19.2%. The core business does not include
the Technical Plastics business, for which sales of EUR35-45m are expected in
2009.

    About Gerresheimer

    Gerresheimer employs 10,200 people in 42 locations in Europe, America and
Asia. In the financial year 2009, worldwide sales totalled EUR1.06bn. The
product portfolio ranges from pharmaceutical vials made of glass and plastic
through to complex drug-delivery systems for the pharma & life science
industry. These include sterile syringes, inhalers and other system-based
approaches for safe dosage and application of medications. The Group enjoys a
leading position in markets which are characterised by high technical and
regulatory barriers.

    
    Group Key Figures (IFRS; Financial Year end November 30)

    in EUR million                FY 2008      FY 2007           Change %

    Net sales                      1060.1        957.7              +10.7
    Adjusted EBITDA(1)              206.4        181.6              +13.7
    in % of net sales                19.5         19.0
    Adjusted EBITA                  135.6        116.6              +16.3
    in % of net sales                12.8         12.2
    Profit from operations (EBIT)    61.0         53.3              +14.4
    Net income                        4.5          0.8   greater than 100
    Adjusted net income(2)           61.4         44.3              +38.6
    Earnings per share in EUR        0.02        -0.04   greater than 100
    Adjusted earnings per
     share(3) in EUR                 1.83         1.34              +36.6

    ---------------------------------

    (1) Adjusted EBITDA: earnings before income taxes, financial result,
        amortization of fair value adjustments, extraordinary depreciation,
        depreciation and amortization, restructuring expenses and one-off
        income and expenses

    (2) Adjusted net income: consolidated profit before non-cash amortization
        of fair value adjustments, special effects from restructuring
        expenses, extraordinary depreciation, the balance of one-off income
        and expenses (including significant non-cash expenses) and the
        related tax effects

    (3) Adjusted net income after minorities divided by 31.4m shares
    





For further information:

For further information: Contact Press: Burkhard Lingenberg, Director
Corporate Communication & Marketing, Phone +49-211-6181-250, Fax
+49-211-6181-241, e-mail b.lingenberg@gerresheimer.com; Contact Investor
Relations: Anke Linnartz, Director Corporate Investor Relations, Phone
+49-211-6181-314, Fax +49-211-6181-121, e-mail a.linnartz@gerresheimer.com


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