Gerresheimer: Record Year in 2007 and Positive Outlook for 2008

    DUSSELDORF, Germany, Feb. 26 /CNW/ -

    - Sales in 2007 Increased by 48.1% to EUR957.7m

    - Operating Results (Adjusted EBITDA) up by 48.1% at EUR181.6m

    - Proposed Dividend: EUR0.40 Per Share

    - CEO Dr. Axel Herberg: "For the Financial Year 2008 we Expect Further
      Sales Growth, With an Improved Margin."

    Gerresheimer AG has finished the financial year 2007 with record figures
in terms of sales and results. The company increased its sales by 48.1% to
EUR957.7m (2006: EUR646.7m). Excluding acquisition and exchange-rate effects,
Gerresheimer reports above-average sales growth of 8.4%. Operating results
(Adjusted EBITDA) rose by 48.1% from EUR122.6m in the prior year to EUR181.6m.
The company's operating strength is shown by the Adjusted EBITDA margin of
    The debt level before the IPO and the one-off costs of the IPO are
reflected in consolidated results of EUR0.8m (2006: EUR-25.0m). In the fourth
quarter, however, consolidated results already totalled EUR13.9m, reaching a
level which was no longer depressed by IPO costs and for the first time
reflected the company's low level of debt. The adjusted consolidated results
improved strongly during the financial year to EUR44.3m (2006: EUR8.7m).
    "We have achieved all the targets we set ourselves for 2007 and in many
cases exceeded them. For our company we look back over a very successful
financial year", says Dr. Axel Herberg, CEO of Gerresheimer AG. Against the
background of this brilliant business development, the Management Board and
the Supervisory Board will propose to the Shareholders' Meeting that a
dividend is already distributed for the financial year of the IPO, which is to
amount to EUR0.40 per share.

    Continuation of globalisation strategy

    The strong growth of Gerresheimer AG is attributable on the one hand to
above-average organic growth and on the other hand to acquisitions. The Wilden
Group, which was acquired at the start of 2007 has already been fully
integrated and made a sustained contribution to the results of the
Gerresheimer Group. Beyond this, Gerresheimer also expanded its global
presence through a number of acquisitions and joint ventures. The company now
operates in a worldwide total of 41 locations and employs more than 10,800

    Positive development in all Divisions

    Sales by the Tubular Glass Division in 2007 totalled EUR271.2m, up 11.4%
on the prior year level of EUR243.4m. Adjusted EBITDA increased to EUR66.7m
(2006: EUR61.9m). A particularly strong contribution to this growth was made
by the 6% increase in sales of ready to fill (RTF(R)) syringes. Through the
commissioning of a second RTF(R) syringe line, Gerresheimer has substantially
expanded its production capacity in order to meet the continuing high level of
demand. A third production line of this type is already in the planning stage
and is expected to be commissioned in 2009.
    In 2007 the Plastic Systems Division achieved sales of EUR299.7m compared
with EUR48.2m in the prior year, and Adjusted EBITDA of EUR56.1m (prior year:
EUR12.0m). This improvement was largely attributable to the acquisition of the
Wilden Group, which during the eleven months of its membership of the
Gerresheimer Group made a substantial contribution to the results of the
Plastic Systems Division. Growth in the core business of medical plastic
systems was particularly gratifying.
    Increased sales of bottles for the pharmaceutical industry and of perfume
flacons and cream pots for the cosmetics industry resulted in organic sales
growth of 8.7% for the Moulded Glass Division. Overall the Division achieved
sales of EUR318.8m (2006: EUR299.4m) and a 19.7% rise in Adjusted EBITDA to
EUR65.1m (prior year: EUR54.4m). The marked margin improvement is attributable
to consistent measures to enhance productivity.
    The joint venture entered into with Thermo Fisher Scientific in mid-2007
meant that business in the Life Science Research Division was substantially
expanded. Sales by the Division rose by EUR29.4% to EUR72.2m (prior year:
EUR55.8m). Adjusted EBITDA improved to EUR7.7m (prior year: EUR6.4m).
Integration of the Chinese joint venture and expansion of production in China
are proceeding according to plan. The competitive position of the Life Science
Research division has therefore been substantially strengthened.

    Further growth in the financial year 2008

    The new financial year for Gerresheimer AG started on 1 Decem-ber 2007.
CEO Dr. Axel Herberg believes that his management's strategies have once more
been confirmed: "As expected, we have had a successful start to the year. In
the highly specialised markets for packaging and system solutions,
Gerresheimer is widely recognised as a leading global partner for the pharma &
life science industry. I have no doubt that in the current year we will be
able not only to consolidate our position but expand it intensively. We will
continue to grow."
    On the basis of continuously increasing demand for special packaging for
the pharma & life science industry, Gerresheimer expects a sales increase of
between 13% and 15%. The Adjusted EBITDA margin will, according to the target
for the year, improve in parallel beyond 19%. Planned investments in 2008
total EUR105-110m.

    About Gerresheimer

    Gerresheimer employs more than 10,800 people in 41 locations in Europe,
America and Asia. In the financial year 2007, worldwide sales totalled
EUR957.7m. 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.

    Press Dates
    Interim report 1st Quarter 2008      April 14, 2008
    Annual General Meeting               April 17, 2008
    Interim report 2nd Quarter 2008      July 15, 2008
    Interim report 3rd Quarter 2008      October 15, 2008
    Annual financial statements 2008     February 17, 2009

    Group Key Figures (IFRS) (Fiscal Year ends November 30)

    EUR million         Q4 2007  Q4 2006 Change %  FY 2007  FY 2006 Change %

    Net sales             260.3    170.0    +53.1    957.7    646.7    +48.1
    Adjusted EBITDA(1)     57.2     39.7    +44.1    181.6    122.6    +48.1
    in % of net sales      22.0     23.4              19.0     19.0
    Adjusted EBITA         39.3     27.2    +44.5    116.6     73.8    +58.0
    in % of net sales      15.1     16.0              12.2     11.4

    Profit from
     operations (EBIT)     18.5     15.6    +18.6              53.3     21.8

    Net income             13.9      2.0               0.8    -25.0
    Adjusted net income(2) 28.0      5.6              44.3      8.7
    Earnings per share     0.42                      -0.04

    Adjusted earnings per
     Share(3)              0.87                       1.34

    Segment Key Figures

    EUR million         Q4 2007  Q4 2006 Change %  FY 2007  FY 2006 Change %

    Tubular Glass
    Net sales              72.2     62.6    +15.3    271.2    243.4    +11.4
    Adjusted EBITDA        18.9     16.1    +17.4     66.7     61.9     +7.8

    Plastic Systems
    Net sales              81.1     13.3             299.7     48.2
    Adjusted EBITDA        17.9      4.1              56.1     12.0

    Moulded Glass
    Net sales              84.5     80.4    +5.1     318.8    299.4     +6.4
    Adjusted EBITDA        19.9     20.5    -2.9      65.1     54.4    +19.7

    Life Science Research
    Net sales              24.5     13.4    +82.8     72.2     55.8    +29.4
    Adjusted EBITDA         3.1      1.9    +63.2      7.7      6.4    +20.3

    (1) Adjusted EBITDA: Earnings before income taxes, financial result,
        depreciation and amortization, restructuring expenses and one-off
        income and expenses

    (2) Net income before non-cash amortization of fair value adjustments,
        special effects from restructuring expenses and 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 PR & Marketing, Telephone +49-211-6181-250, Telefax
+49-211-6181-241, e-mail; Contact Investor
Relations, Anke Linnartz, Director Corporate Investor Relations, Telephone
+49-211-6181-314, Telefax +49-211-6181-121, e-mail

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