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Gerresheimer Says Pressing Ahead With Growth Projects

Gerresheimer AG (GRRMF.PK) is pressing ahead with its growth projects. It is setting out on its growth path this year and will deliver profitable, sustainable growth. This is the direction it wants to move the company in, Dietmar Siemssen Chief Executive Officer of the company said at annual general meeting.

Siemssen stated that it improved its global presence in 2019 and will continue to do so in 2020.

The company expects revenues to increase in the mid-single-digit percentage range in 2020 and subsequent years. The EBITDA margin is anticipated to reach around 21% in 2020 and then gradually rise to 23% during the medium-term planning period.

Capital expenditure will amount to approximately 12% of revenues in 2020. In the medium-term, the company looks at a level of around 8 to 10% of revenues.

A large majority voted in favor of the resolution formally ratifying the actions of the Management Board and Supervisory Board in the financial year 2019.

The dividend has been raised by 4% to 1.20 euros per dividend-entitled share, compared to a dividend of 1.15 euros per share distributed in the prior year. The dividend will be paid out on June 29, 2020.

Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Duesseldorf, was elected as auditor for the financial year 2020. A resolution was also passed to amend the Articles of Association to include provisions on the proof of share ownership to be submitted by a shareholder when registering for the Annual General Meeting.

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