Growth Trend for Gerresheimer Continues Unabated - Debt Reduction

        -  For the Nine Months (to 31 August) a 46% Sales Increase to EUR697m

        -  For Nine Months Almost Six-Fold Growth in EBIT to EUR34.8m

        -  Marked Improvement in Adjusted EBITDA by 50% to EUR124m

        -  Substantial Debt Reduction and Fall in Interest Charges Since the

        -  CEO Dr. Axel Herberg: "The Gratifying Q3 Result Confirms Our Full-
           Year Forecast for 2007."

    DUSSELDORF, Germany, Oct. 17 /CNW/ - In the first nine months of its
financial year (to 31 August), Gerresheimer AG has continued its dynamic
earnings and sales trend unabated. Total sales including the consolidated
Gerresheimer Wilden Group increased by 46.3% to EUR697.4m (9M 2006:
EUR476.7m). Adjusted EBITDA actually improved by 50.1% to EUR124.4 (EUR82.9m),
with a margin improvement by 0.4 percentage points to 17.8% (17.4%). In the
result from ordinary activities (EBIT) there was almost a six-fold increase in
the comparable period to EUR34.8m (EUR6.2m). Cash net income(1) increased due
to one-off expenses (EUR21.0m before tax) for the IPO by EUR16.6m to EUR0.8
    "The gratifying operating development has completely fulfilled our
expectations," says Dr. Axel Herberg, CEO of Gerresheimer AG. "Looking at our
target for the year to achieve organic growth of 8% to 9% and an EBITDA margin
of close to 19%, we are right on track. We will continue to work to expand our
position as a globally active pharma and life-science company."
    In the third quarter (June to August) total sales grew strongly by 60.2%
to EUR250.1m (third quarter of 2006: EUR156.1m). The substantial sales growth
was largely attributable to the acquisition of the Wilden Group and the
positive turnover trend in the pharma and cosmetics segments. In the
comparable period, Adjusted EBITDA improved by 55.3% to EUR44.1m (EUR28.4m).
The development in the result from ordinary activities (EBIT), which improved
to EUR11.0m (EUR-1.2m), was also gratifying. The consolidated result increased
by EUR7.4m to EUR-5.1 (EUR-12.5m) despite the negative one-off effects of
EUR21.0m in connection with the IPO and refinancing of the Gerresheimer Group.
In the comparative period, cash net income(2) was EUR5.8m up at EUR-1.4
(EUR-7.2m) despite these one-off charges.

    Earnings development of the business divisions per 31 August 2007:

    In the Tubular Glass Division sales in the first nine months of the
financial year 2006/2007 increased by 10.1% to EUR199.0m (9M 2006: EUR180.8m)
thanks in particular to sales growth for RTF syringes and higher turnover of
ampoules and vials. The growth in Adjusted EBITDA was slightly weaker, with an
increase of 4.4% to EUR47.8m (EUR45.8m), because of a routine general overhaul
of furnaces in the USA and Italy and one-off start-up costs for the second RTF
syringe line. The Adjusted EBITDA margin, although still high, therefore fell
slightly to 24.0% (25.3%) as expected.
    The sales increase to EUR218.6m (EUR34.9m) in the Plastic Systems
Division largely reflects the acquisition of the Wilden Group, which
contributed sales of EUR180m, but we also achieved strong growth in the
segment of pharmaceutical packaging. Adjusted EBITDA in the first nine months
totalled EUR38.2m (EUR7.9m). The transfer of production to Poland in the
segment of dropper-bottle systems also contributed to the improvement in
results. Integration of the Wilden Group is progressing completely to plan.
    Sales in the Moulded Glass Division increased by 7.0% to EUR234.3m
(EUR219.0m) against the favourable background of worldwide growth in sales of
pharmaceutical bottles and of perfume flacons and cream jars in the cosmetics
segment in Europe. Adjusted EBITDA increased substantially by 33.3% to
EUR45.2m (EUR33.9m). Continuous quality improvements and higher productivity
led to an improvement of 3.8 percentage points in the Adjusted EBITDA margin
to 19.3% (15.5%).
    In the Life Science Research Division the life-science business
contributed by Thermo Fisher Scientific with sales of EUR7.5m for two months
was consolidated for the first time as per 2 July 2007. Sales improved by
12.5% to EUR47.7m (EUR42.4m) while Adjusted EBITDA increased by only 2.2% to
EUR4.6m (EUR4.5m) because of the integration costs for the new joint venture
and delays in merchandise deliveries until the fourth quarter as a result of
problems with the introduction of new IT systems, which have now been
resolved. The Adjusted EBITDA margin was therefore also down slightly at 9.6%
(10.6%). In the fourth quarter we expect clear growth rates.

    Gerresheimer on course with its full-year forecast for 2007

    For the remaining three months of the financial year 2006/2007 ending on
30 November, Gerresheimer expects business to continue on a positive trend
with organic sales growth of 8% to 9% and an Adjusted EBITDA margin close to
19%. The latest upsets in the capital markets and the strength of the euro
over recent weeks and months have had little impact on Gerresheimer. Since
almost all products for the important US market are manufactured by
Gerresheimer in North America (including Mexico), the strong euro exchange
rate has hardly any effect on results.
    Gerresheimer has used the proceeds from the IPO to reduce debt. While net
financial debt at the end of the second quarter of 2007, i.e. shortly before
the IPO, still totalled around EUR840m, it fell to around only EUR414m at the
end of the third quarter of 2007. The equity ratio is a sound 34%. The
substantially improved capital structure will in the future continue to have a
positive effect on earnings and cash flow since interest expenses are
significantly reduced.
    The new capital structure gives us the financial flexibility to continue
our strategy of growth through selective acquisitions and investments in
profitable segments. Thus, for example, in the third quarter of 2007 - earlier
than originally planned - the investment decision was made to construct a
third RTF syringe line because of the high level of demand. In the field of
medical plastic packaging, investment is being channelled into insulin pen
production, a new growth segment for Gerresheimer, on the basis of a newly won
long-term customer order.
    The interim report as of 31 August 2007 can be downloaded on our home
page An analysts' presentation can also be
downloaded on the Internet.
    Cross reference: Key figures of the Gerresheimer Group and Segment report
are available at:

    About Gerresheimer

    Gerresheimer today employs about 10,000 people in 34 locations across
Europe, America and Asia. The firm's product range stretches from glass and
plastic medicine bottles to complex drug delivery systems. Its product range
includes sterile syringes, inhalers and other solutions for safer dosage and
the administering of medication. The group has a leading position in a market
that is characterised by high technical and regulatory barriers and where
Gerresheimer's products must satisfy the strictest quality standards of the
international pharmaceutical supervisory bodies.
    The group posted 2006 pro-forma sales of about EUR893m, of which about
EUR240m came from Wilden AG, a European market and technology leader in
plastic systems acquired at the beginning of 2007. The pro-forma Adjusted
EBITDA for the group in 2006 was about EUR151m.

    (1) Cash net income is defined as the consolidated result after minority
        interests and before non-cash fair-value amortisation and related
        income tax effects.

    (2) Cash net income is defined as the consolidated result after minority
        interests and before non-cash fair-value amortisation and related
        income tax effects.

For further information:

For further information: Burkhard Lingenberg, Director Corporate PR &
Marketing, Telephone +49-211-6181-250, Telefax +49-211-6181-241, e-mail

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