German pharma and healthcare industry supplier Gerresheimer AG (GRRMF.PK) posted higher first-quarter net income attributable to shareholders to 8.6 million euros, from last year's 5.5 million euros, with quarterly EBIT rising to 21.5 million euros, from 18.2 million euros a year ago. Further, the Group generated adjusted EBITDA of 46.0 million euros in the first quarter of 2013, a 2.1% growth year-on-year.
On a per share basis, earnings for the recent quarter were 0.27 euros, an increase from 0.18 euros in the prior-year quarter, with adjusted earnings per share amounting to 0.36 euros this quarter.
Quarterly revenues reached 296.7 million euros, up 10.4% from the previous year's 268.8 million euros, due mainly to strong organic growth in the Plastic Systems unit. According to the company, the increase is mostly attributable to higher revenues from engineering services and tools paving the way for future business with drug delivery devices, with its latest acquisitions in India also contributing to the revenue growth.
For fiscal 2013, Gerresheimer still sees revenue growth of 5% to 6% at constant exchange rates, although this forecast seems slightly more conservative now against the background of the strong revenue growth in the first quarter of 2013. The company expects to generate an adjusted EBITDA margin of around 19.4%.
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