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Gerresheimer Q1 Profit Rises, Revenue In Core Business Up 3.1% Organically; Confirms 2021 Outlook

Gerresheimer Group (GRRMF.PK) reported that its first quarter net income to shareholders increased to 9.20 million euros from 4.14 million euros, previous year. Earnings per share was 0.29 euros compared to 0.13 euros. Adjusted EBITDA was 54.2 million euros, compared to 51.1 million euros. In the core business, adjusted EBITDA rose organically by 7.0% year on year to 57.4 million euros. Adjusted EBITDA margin in the core business was 19.0%. Adjusted net income per share was 0.57 euros, an increase of organically 29.3% (32.6% as reported) from prior year.

First quarter revenues were 302.84 million euros compared to 303.86 million euros, previous year. Revenues in core business increased organically by 3.1% year on year. The Plastics & Devices Division grew organically by 3.0%.

The outlook for the financial year 2021 (core business, currency-adjusted) is: revenues growth in the mid single-digit percentage range; adjusted EBITDA margin between 22% and 23%; and adjusted earnings per share in euros to increase by at least 10%.

The outlook for the medium term (core business, net of currency effects) is: revenues growth in the high single-digit percentage range; adjusted EBITDA margin of around 23%; and adjusted earnings per share in euros to increase by at least 10% per year.

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