Germany's drug delivery devices maker Gerresheimer AG (GRRMF.PK) Wednesday reported a higher first-quarter profit, as revenue growth of 10 percent was boosted by strong organic growth in its Plastic Systems division. The company said it experienced a healthy demand for pharma products overall, and backed its revenue growth outlook for the fiscal year.
Gerresheimer, which makes glass and plastic packaging products for pharma and healthcare industry, said demand for insulin pens, asthma inhalers and prefillable glass syringes was favorable.
In the first quarter, net income attributable to shareholders increased to 8.6 million euros from 5.5 million euros in the previous year. On a per share basis, earnings were 0.27 euros, up from 0.18 euros per share in the prior-year quarter.
Adjusted earnings per share, excluding items, were 0.36 euros in the recent quarter, while the company posted 0.33 euros per share last year.
The Group's adjusted EBITDA was 46 million euros in the first quarter of 2013, while it was 45.1 million euros a year ago.
Gerresheimer added that it has elected early application of IAS 19 Employee Benefits with effect from December 1, 2012 and the prior-year figures are therefore on a pro forma basis.
Quarterly revenues grew 10.4 percent to 296.7 million euros, helped mainly by strong organic growth in Plastic Systems division. At constant exchange rates, the growth was 11.1 percent.
Uwe Röhrhoff, CEO of the company stated, "The increase is mostly attributable to higher revenues from engineering services and tools paving the way for future business with drug delivery devices. Our latest acquisitions in India also contributed to the surge in revenues."
In 2012, Gerresheimer had acquired two Indian companies Triveni and Neutral Glass. Triveni produces plastic primary pharmaceutical packaging, and Neutral Glass produces glass pharmaceutical vials.
For the fiscal year ending November 30, 2013, Gerresheimer still sees revenue growth of 5 to 6 percent at constant exchange rates. The company expects to generate an adjusted EBITDA margin of around 19.4 percent in 2013. Adjusted EBITDA margin in fiscal 2012 was 19.7 percent.
On Frankfurt's Xetra, the shares are currently trading at 44.69 euros, up 2.39 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.