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Gerresheimer reports strong fourth quarter after difficult first nine months

, Gerresheimer

Gerresheimer reports strong fourth quarter after difficult first nine months

  •  Fourth-quarter revenues up 4.7%, with organic growth of 6.7%. Slight 2.0% decrease for full year 2017 to EUR 1,348.3m. Revenues at constant exchange rates decreased by 1.8% to EUR 1,361.6m
  • Adjusted EBITDA climbs to EUR 310.8m in 2017; at constant exchange rates to EUR 314.3m
  • 23.1% adjusted EBITDA margin above strong 22.4% prior-year figure
  • Net financial debt reduced from EUR 788.2m to EUR 712.7m. Adjusted EBITDA leverage, at 2.3x, thus below target of 2.5x
  • Proposed dividend of EUR 1.10 per share (prior year: EUR 1.05)

Gerresheimer AG closed the 2017 financial year December 1, 2016 to November 30, 2017 with an improved adjusted EBIDA margin, despite a decrease in revenues. “The financial year 2017 was characterized by uncertainty in the pharma and healthcare markets relevant to us. Growth in the global pharma market slowed considerably in 2017. Despite a slight decrease in revenues, we were able to raise profitability. We are consequently proposing an increased dividend. We are confident that we can grow sustainably and profitably in the coming years and further expand our strong position in the markets for pharmaceuticals, healthcare and cosmetics. We have taken important steps in this direction and set our strategic priorities for the years ahead. Accordingly, we are raising our long-term target Gx ROCE to around 15%,” said Rainer Beaujean, CFO and Speaker of the Management Board.

The fourth quarter of 2017 saw Gerresheimer increase revenues by 4.7% and on an organic basis by no less than 6.7%. Revenues consequently ended the financial year 2017 with a decrease of just 2.0% to EUR 1,348.3m. On a constant exchange rate basis, revenues stood at EUR 1,361.6m, down by 1.8%. The global pharma market grew significantly more slowly in 2017 than in the preceding years. Especially in the US the world’s largest and most important pharmaceuticals market there was growing uncertainty, also stemming from the debates surrounding healthcare reform, trade policy and tax reform.

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, Gerresheimer

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