Gerresheimer Achieves Solid Growth in Core Markets - Outlook Confirmed



    
    Group Sales in the First Quarter of 2009 at Prior Year Level; Sales up
    Almost 3% in the Core Business Despite Difficult Market Environment

    Adjusted EBITDA Margin of 17.1% in the Core Business, Continued Operating
    Earnings Strength

    CEO Dr. Axel Herberg: "Despite the difficult overall economic environment
    we continue to aim for profitable sales growth of around 6% to 7% in our
    core business for 2009."
    

    DUSSELDORF, Germany, April 2 /CNW/ - In the first quarter of 2009
(December 2008 to February 2009) Gerresheimer AG maintained its total sales
figure of EUR237.3m (Q1 2008: EUR239.1m) almost at the prior year level
despite the difficult overall situation in the world economy. In the core
business, however, sales by the MDAX company actually rose by 2.8 % to
EUR228.7m
    The operating result (adjusted EBITDA) fell in comparison with the prior
year period from EUR43.0m to EUR38.3m. This is attributable to a slightly
negative result in the segment of Technical Plastics and temporary capacity
adjustments. The operating margin (adjusted EBITDA margin) of Gerresheimer AG
came to 16.1 % for this period (Q1 2008: 18.0%), although in the core business
it reached a solid 17.1 %. Adjusted net income for the Group in the first
quarter of 2009 totaled EUR6.4m (Q1 2008: EUR9.9m).
    Despite the difficult overall economic environment GerresA-heimer
achieved profitable growth in its core markets in the first quarter. It is
advantageous that the global pharma markets continue to be robust. "We still
assume that we will achieve sales growth of 6% to 7% in the financial year
2009 with an adjusted EBITDA margin of 19.0% to 19.2% in our core business,"
says Dr. Axel Herberg, CEO of GerresA-heimer AG.

    Further growth in the core markets of pharma & life science

    Sales by the core businesses increased again in the first quarter of
2009. This development highlights the strategic importance of Gerresheimer's
focus on the markets of pharma & life science. In the first quarter 2009, 78%
of Gerresheimer's total sales were attributA-able to this market segment. In
contrast, sales for the Technical Plastics business, which is up for sale,
halved in the first quarter to EUR8.6m.
    In the first quarter of 2009 some customers in the pharma & life science
industry reduced their inventories as expected. In addition, demand for
high-quality cosmetics was substantially lower. In contrast, the Tubular Glass
and Plastic Systems Divisions further increased their sales in the months of
December 2008 to February 2009. The busiA-ness in RTF(R) syringe systems,
inhalation devices and insulin pens again experienced a high level of demand.
Thanks to the launch of the third RTF(R) syringe line and further investments
in expansion of production for drug delivery systems Gerresheimer will
generate further growth.

    Gerresheimer consistently continues its growth strategy

    Gerresheimer AG stands by its objective of further profitable growth in
the financial year 2009. Gerresheimer will continue in 2009 to invest
extensively in new product lines and capacity expansion. We are therefore
fully on plan in implementing our growth strategy. As a leading partner for
companies in the pharma & life science indusA-try, GerresA-heimer expects
further increasing worldwide demand for safe and user-friendly medical
treatment.

    About Gerresheimer

    Gerresheimer employs 10,200 people in 42 locations in Europe, America and
Asia. In the financial year 2008, 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; End of Q1 2009: February 28,

    Q1 2008: February 29; Financial Year end November 30)

    in EUR million                Q1 2009     Q1 2008     Change %  FY 2008
    Net sales                      237.3       239.1        -0.8    1.060.1

    thereof core business
     net sales                     228.7       222.5        +2.8      997.1
    Adjusted EBITDA(1)              38.3        43.0       -10.9      206.4

    in % of net sales               16.1        18.0                   19.5
    thereof core business
     adjusted EBITDA                39.0        N/A(2)                 N/A(2)

    in % of net sales               17.1        N/A(2)                 N/A(2)
    Adjusted EBITA                  19.8        25.5       -22.4      135.6

    in % of net sales                8.3        10.7                   12.8
    Profit from operations
     (EBIT)                          9.2        14.9       -38.3       61.0
    Net income                      -1.1         2.5                    4.5
    Adjusted net income(3)           6.4         9.9       -35.4       61.4
    Earnings per share in EUR      -0.05        0.06                   0.02
    Adjusted earnings per
     share(4) in EUR                0.18        0.29       -37.9       1.83

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

    (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) The prior year adjusted EBITDA of the Technical Plastic Systems
    business is not available as the separation was carried out in the course
    of the financial year and is therefore included in the Plastic Systems
    segment

    (3) 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

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





For further information:

For further information: 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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